Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
Business
Business
Dubai issues 72,152 new business licenses in 2021, 59 percent professional
Dubai issued 72,152 new business licenses in 2021, a growth of 69 percent compared to 2020 when 42,729 licenses were...
- Bur Dubai accounted for the largest share (48,562) of new licences issued followed by Deira (23,513).
- A total of 430,921 business registration and licensing transactions were completed in 2021, a growth of 24 percent compared to 2020.
Business
Dubai Airport Show 2022 to showcase digital innovation
Dubai Airport Show 2022, to be held in May, will showcase a diverse range of innovative products and will provide...
- The latest IATA Global Passenger Survey, conducted across 153 countries, revealed passengers expect technology to give them more "personal control over their travel experience"
- Digital queuing and biometric has been viewed as a priority to be implemented to modernize every component of the journey at airports
Business
Aramco signs 10 Korea deals
The signings took place at the Saudi-Korean Investment Forum.
- The deals aim to advance Aramco’s downstream strategy and support the development of low-carbon energy solutions
- They are also expected to create new financing options for the world’s largest oil and gas company
Business
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.
- The money will be used to facilitate access to finance for SMEs and women-owned businesses in Vietnam
- It will also be used to promote climate funding for a sustainable economic recovery in the country
Geostrategy
UAE demands UNSC meeting after Houthi attacks
Several countries — ranging from regional ones like Qatar, Bahrain, Kuwait, Iraq, and Egypt, to Russia and the US —...
- The UAE has called on the UNSC to unequivocally condemn the Houthi attacks with one voice
- UN Secretary-General Antonio Guterres has already condemned the attack, besides calling for restraint
Business
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...
- Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
- The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
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
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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
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
Business
Company News
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Agthia to pay $17m dividend
Business
UAE President, Austrian Chancellor discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...
Geostrategy
Egypt, IMF reach agreement on EFF arrangement
Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month...
Economy
Arab-Israeli banker talks up Saudi market at investor forum
Samer Haj-Yehia, the Arab-Israeli chairman of Bank Leumi since 2019, was addressing the Future Investment Initiative, a three-day conference held...
Geostrategy
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Business
UAE-Kazakhstan trade reached $907 million in 2021: Ambassador Menelikov
The Kazakhstan ambassador valued the UAE leadership's interest in strengthening relations between the two countries, pointing out that the 1st...
- Emirati investments in Kazakhstan amounted to about $2.7 billion since the establishment of diplomatic relations.
- Value of Kazakh investments was more than $1 billion, and total direct investment flows from the UAE increased 43 percent.
Economy
Saudi PIF to establish five companies for investments in five Arab countries
The five companies, together with Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary that was launched in August 2022,...
- The announcement was made on the second day of the 6th Edition of the Future Investment Initiative, where top CEOs, investors and world leaders are participating.
- The companies will invest in various key sectors, including but not limited to, infrastructure, real estate development, mining, healthcare and financial services.
Business
Dubai real estate market records deals worth $462 million on Tuesday: DLD
Dubai, UAE--- Dubai real estate market recorded real estate transactions worth AED1.7 billion ($462 million) on Tuesday, Dubai Land Department...
- The transactions included 425 sales transactions worth AED1.32 billion, in addition to 71 mortgage deals of AED386.7 million, and 12 gift deals amounting to AED56.77 million.
- The sales included 403 villas and apartments worth AED1.17 billion, and 22 land plots worth AED149.92 million.