North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Business
OERC, Jindal to set up sustainable transport logistics solution
Abu Dhabi, UAE - Oman and Etihad Rail Company (OERC) signed a deal with Jindal Shadeed Iron & Steel (Jindal)...
- It will allow Jindal to annually transport up to 4 million tons of raw materials and finished products from its steel complex at Sohar Port to the UAE’s markets.
- OERC will leverage its rail network to support Jindal in optimizing operational integration through facilitated loading and unloading processes.
Business
Brazilian-Saudi Investment Forum witnesses inking of 25 MoUs
SAO PAULO, BRAZIL - The Ministry of Investment organized here the Brazilian-Saudi Investment Forum, which saw the signing of many...
- The 25 MoUs covered petrochemicals, healthcare, defense, food, real estate, tourism, water desalination and treatment, and agriculture.
- The new library will act as a central hub to connect the university’s 28 sub-libraries and will contribute towards enhancing its educational capabilities.
Business
Ooredoo Algeria gets new CEO
Roni Tohme, the Acting CEO, has been confirmed as the CEO.
- Tohme brings over 21 years of experience in telecoms and finance to his new role, having previously served as Ooredoo Algeria’s Chief Financial Officer.
- During his tenure as CFO, he played a vital role in shaping an agile and lean finance department, contributing to the company’s business transformation.
Economy
Saudi Arabia real GDP grows 1.1 percent in Q2 2023
RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
- According to the report, seasonally adjusted real GDP decreased by 0.1 percent in Q2 of 2023 compared to Q1 of 2023.
- GASTAT carries out all statistical work, as well as the technical oversight of the statistical sector in Saudi Arabia.
Economy
Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
- The total investment volume reached $841.6 million, compared to $570.2 million during the same period in 2022
- 236 investment projects capitalized on the advantages offered by the Investment Environment Law
Geostrategy
UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...
- The UAE minister called upon G20 countries to fulfil their commitment to providing the pledged financial support for global climate initiatives.
- She said that is only by collective action that the global community can achieve the worldwide emission reduction target.
Geostrategy
UAE finance ministry unveils new corporate taxation rules
ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the...
- The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do not comply with their obligations.
- Penalties also apply in cases of failing to properly keep records or submitting the required records and other information specified in the Tax Law.
Business
Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
- As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
- The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Business
Proton says will analyze VPN sign-ups to identify attacks on democracy
GENEVA, SWITZERLAND - Internet privacy company Proton announced Wednesday a new VPN Observatory, tracking demand for its services to detect attacks...
- Switzerland-based Proton said its new observatory would document spikes in sign-ups to its virtual private networks.
- VPNs provide a secure, encrypted connection over the internet between a user and a server, giving users greater anonymity.
Business
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon.This was announced in the “Delhi...
- This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
- Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Company News
ADQ, ADNEC Group sign agreements
Business
Latest News
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
Business
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Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
- The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
- The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Geostrategy
RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
- The bridge extends from Sheikh Zayed Road to Dubai Harbour, an exceptional seafront district that hosts the region’s marina.
- RTA would construct a bridge of two lanes in each direction spanning 1,500 meters and accommodating 6,000 vehicles per hour.
Economy
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...
- Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
- According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.