Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
Geostrategy
Germany to offer €100m loan to reform Tunisian banking sector
This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve...
- This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve access to financing for SMEs
- German Ambassador to Tunisia Peter Prüge said that the decision to give loan was taken in view of the roadmap for restoration of democracy prepared by Tunisian President Kais Saied
Geostrategy
Saudi Arabia denies targeting Yemen prison
The spokesman of Saudi led coalition also said the facility was not on the OCHA no-target list.
- The Saudi-led coalition has denied the allegations of Iran-backed Houthi rebels on the coalition targeting a detention center in Yemen
- The coalition will share the facts and details of strike with OCHA and ICRC, as well as the media misinformation exhibited by Houthi military
Economy
Tadawul approves listing of SAR 2.8bn debt instruments
The debt instruments are issued by the Saudi government and submitted by the Ministry of Finance.
- The debt instruments are issued by the Saudi government and submitted by the Ministry of Finance
- The debt instruments' first issuance stands at SAR 1.248 billion, while the second offering is valued at SAR 1.585 billion
Geostrategy
GCC, EU hold 4th Trade and Investment Dialogue
The dialogue discusses the new developments in trade and investment exchange.
- The dialogue discusses the new developments in trade and investment exchange
- The two sides also discussed the cooperation in regulatory aspects and commercial laws
Business
Deliveroo’s new UAE service
Deliveroo Plus allows customers to receive unlimited free delivery.
- Deliveroo Plus allows customers to receive unlimited free delivery on all orders above AED 30 for only AED 39 per month
- Deliveroo Plus allows customers to receive unlimited free delivery on all orders above AED 30 for only AED 39 per month etc
Business
Qatar Airways counters Airbus order cancellation with A350 video
The move came within mere hours of Airbus cancelling an order of 50 of its A321neo aircraft, which it was...
- The order was estimated to be worth $6 billion based on Airbus’ catalog price
- However, but airlines are known to get better deals from plane-makers
Economy
Qatar signs agreement to ensure gas supply to Gaza power plant
In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza...
- In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza Electricity Generation Company
- Under the MoU, the Qatari committee will finance the construction of the gas pipeline from the supplier company to the borders of the Gaza Strip at a cost of USD60 million
Geostrategy
US sanctions Hezbollah-affiliated international network
The US State Department announced in a statement that "Adnan Ayad, Jihad Adnan Ayad, Ali Adel Diab, and 10 companies...
- The US State Department announced in a statement that "Adnan Ayad, Jihad Adnan Ayad, Ali Adel Diab, and 10 companies are designated under Executive Order 13224.”
- The statement added that “these financial facilitators have helped terrorist Hezbollah obtain funds through networks of companies that disguise themselves as legitimate businesses”
Arts & Culture
Saudi Heritage Commission and KARRDA to work for heritage preservation
Saudi Arabia's Heritage Commission has signed a memorandum of understanding with King Abdulaziz Royal Reserve Development Authority (KARRDA) to enhance...
- The MoU between the two includes cooperation in preparing comprehensive strategic heritage plans and studies.
- They will also launch initiatives and projects that serve craftsmen and contribute to the development of crafts and handicrafts.
Business
Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded...
- These terminals can be found at commercial sales outlets in more than 180 cities and villages.
- PoS terminal transactions reaching more than 5 billion by the end of 2021, compared to 2.8 billion transactions in 2020.
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Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
Company News
Latest News
Lazard hires Citi Saudi CEO
Business
GCC’s two biggest trade allies are Asians
As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is...
Videos
Amanat Holdings buys 60% stake in HDC for US$58m
HDC provides special education and care services in S Arabia.
Business
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Business
Borouge Q3 profit $308m, paid $325m dividend in October
The company reported a 13.5% increase in revenue to $5.13 billion for 9M.
- Overall production capacity grew by 7.9 percent year-on-year as the ramp-up of the PP5 plant was completed.
- Adjusted EBITDA for the nine months declined by 3.6 percent to $2.10 billion due to globally elevated logistics and material costs, Borouge said.
Business
Ma’aden among top 3 buyers of carbon credits
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...
- The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits, with 15 Saudi and regional entities participating in the sale.
- The carbon auction is the largest in the world.
Economy
PIF to deploy spending to develop innovative sectors in kingdom
Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its...
- The Local Content Growth Program will targets Fund’s goal of increasing to 60 percent its contribution and the contribution of its affiliates towards the Saudi economy by 2025.
- The Program also includes a Local Content Policy, in which PIF’s portfolio companies will encourage and support local products and services.