Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...
Business
Geostrategy
Winners of 2022 Zayed Sustainability Prize honored for community services
The 2022 Zayed Sustainability Prize has been awarded to 10 winners who have contributed towards achieving sustainable development in their...
- The award ceremony coincided with the start of the 2022 Abu Dhabi Sustainability Week (ADSW).
- Through its 86 former winners, the Prize has transformed the lives of more than 370 million people, across 150 countries, since 2008.
Business
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...
- The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
- The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
Business
Masdar joins consortium to build solar power facilities in Indonesia
Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and...
- The renewable energy company signs MoU with Singapore’s Tuas Power, France’s EDF Renewables and PT Indonesia Power.
- Singapore is looking to import as much as 4 gigawatts of low-carbon electricity by 2035, which would constitute 35 percent of its total supply.
Business
SCCI teams up with Emirates Creative to support innovation
The Sharjah Chamber of Commerce and Industry (SCCI) has signed a strategic cooperation agreement with the Emirates Creative Association to...
- Both have agreed to develop methods for systematic research, sponsoring and organizing conferences
- They also agreed to launch an action plan to implement joint projects in creativity and innovation
Business
Al Rajhi issues $1.17 bn Sukuk
The settlement issuance was set on 23 January 2021.
- The number of Sukuk stands at 6,500, based on the minimum denomination and total issue size.
- The return on the Sukuk offering is estimated at an annual fixed rate of 3.5 percent.
Business
Expo 2020 hits a new milestone with 10m visits so far
Expo 2020 Dubai visitor numbers continue to rise, reaching 10,188,769 visits as of 18th January, while Expo 2020 Dubai’s virtual...
- The visitors were attracted by the first Global Goals Week to be held outside of New York and a star-studded K-pop concert
- All Expo visitors ages 18 and above must show either proof of vaccination or a negative PCR test result taken within the previous 72 hours
Geostrategy
Russia condemns Houthi drone attack on UAE
The Russian Federation Parliament (State Duma) has strongly condemned the Houthi militia attack targeting civil facilities in the UAE yesterday.
- Leonid Slutsky, Chairman of the State Duma Committee on International Affairs, said, in a statement on the RT TV network, that the Russian parliament strongly condemns the attack
- He added that the attack is especially heinous due to the fact that Abu Dhabi has been implementing a policy to promote peace and stability in the region
Science
Abu Dhabi’s Blue Carbon Project to check emissions, climate change: EAD
Abu Dhabi's Blue Carbon Project is a promising initiative to prevent increased carbon emissions caused by the destruction of ecosystems,...
- Blue Carbon refers to the ability of coastal vegetation to store carbon and if this vegetation is destroyed, buried carbon could be released into atmosphere.
- Blue carbon ecosystems, which include mangrove forests, salt marshes, and seagrass beds, store and sequester carbon in biomass and sediments
Business
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral trade
- Chairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
- Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Economy
Lebanon govt may hike power supply to 8-10 hours
Lebanon ministers said they aim to increase the hours of EDL’s power supply in the near future by securing Egyptian...
- Lebanon's economic crisis has seen its currency lose around 95 percent of its purchasing power
- This has caused fuel shortages that has led to power being supplied for just a few hours per household every day
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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Wio launches in UAE
Business
‘World Cup is crucial — both economically and culturally — and Qatar is ready to prove itself’
Qatar is currently more like a workshop of preparation and equipping, in which Qataris and residents have engaged. Brotherly and...
Economy
Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.
Business
‘UAE government revenues rose by 26% in 2021’
ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion...
Economy
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Business
Gulf war couldn’t have been won without Kingdom’s support, says Saudi Energy Minister
Saudi Arabia is engaged with many European governments with regards to the current energy crisis, says Prince Abdulaziz bin Salmanat...
- Saudi Arabia is engaged with many European governments with regards to the current energy crisis, says Prince Abdulaziz bin Salmanat at FII Forum in Riyadh
- Saudi Arabia has a lot to showcase in terms of Green initiatives at COP27, he said, adding that the Kingdom will announce several new projects in the field of energy
Business
SALIC, Minerva Foods buy Australian Lamb Company
ALC is one of the largest meat producers in Australia.
- The acquisition was done through Minerva Foods Australia, a joint venture established last year between SALIC and Minerva in Australia.
- ALC operates two processing facilities in Victoria State, with a capacity to process up to 3.78 million heads annually.
Geostrategy
Saudi Arabia key place for solutions to global supply chain issues, says investment minister Khalid Al Falih
Saudi Investment Minister was speaking at the Sixth Edition of the Future Investment Initiative, hailed as 'Davos in the Desert',...
- George Osborne, Former First Secretary of State, UK said the US and China need to find a way to work together in order to make the world a better place.
- Some rules and policies that came into existence post WW II are not fair to many Asian and African nations, said Senegal's president Macky Sall.