Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
Business
Business
Dubai records biggest real estate deals worth $41bn in 12 years
During the course of last year, Dubai real estate saw a momentous growth, resulting in deals worth close to $41.1...
- The total number of deals last year reached 61,241, the largest number since 2013, according to media reports
- Of these deals, ready made properties accounted for 60 percent of total real estate transactions in Dubai in 2021, while the rest was made up of off-plan properties
Geostrategy
UAE and Algeria to explore ways to boost ties
The UAE and Algeria will work to further strengthen ties between the two countries, and both have shown appreciation for...
- During the meeting, which took place at Emirates Palace, Abu Dhabi, the sides discussed means of enhancing ties between their countries
- They also exchanged views a number of regional and international issues of common interest, developments in the region
Economy
80 global leaders to address Abu Dhabi Summit ‘virtually’
The Abu Dhabi Sustainability Week summit, hosted by Masdar, will take place virtually on Monday, 17th January. The Summit will...
- The Summit will take place between 1:00pm – 9:00pm GST, and will convene more than 80 global leaders
- The opening sessions of the ADSW Summit will include a head of state address from President Halimah Yacob of Singapore
Arts & Culture
Kuwait Arabian Horse Beauty Championships end, breeders honored
The first Kuwait Arabian Horse Beauty Championships, which concluded on Saturday, saw the participation of 450 horses from various domestic...
- Th event saw the participation of 450 horses from various domestic stud farms.
- The event was held under the patronage of the European Conference of Arab Horse Organizations.
Geostrategy
Israel PM ‘relieved’ after US synagogue hostage situation resolved
Israel’s Prime Minister Naftali Bennett took to Twitter on Sunday, January 16, to say he was “relieved and thankful” that...
- The Colleyville Police said a now-dead gunman on Saturday held four people hostage and demanded the release of one Aafia Siddiqui
- The Pakistani-origin neuroscientist is serving an 86-year sentence in a Texas prison for firing at US soldiers and officials in Afghanistan
Business
SMEH of Saudi Arabia fixes price range for IPO
Scientific and Medical Equipment House of Saudi Arabia has set a price range between $12-13.9 per share for its offer...
- The book-building period for participating entities will run from Jan. 17 to Jan. 27, 2022, a bourse statement by the offering’s book-runner, Alistithmar Capital, revealed
- Shares devoted to participating entities will stand at 6 million shares, representing the full offering of 30 percent of the company’s capital
Business
Sharjah Publishing City Free Zone registers 2,000 new companies in 2021
A total of 2,000 new companies from 106 countries registered with the Sharjah Publishing City Free Zone (SPC Free Zone)...
- Most of these companies were from the UK, India, Pakistan, the Philippines, and Lebanon.
- SPC provides 600 furnished offices for publishing entrepreneurs and 6,000 square meters of space for investors.
Business
Dubai eyes top global livability spot
DET and HSBC Bank Middle East have signed a Memorandum of Understanding (MoU), paving the way for increased cooperation in...
- Under the terms of the agreement, DET and HSBC will promote to HSBC customers and employees the unparalleled quality of life in Dubai
- The MoU was signed by Issam Kazim, Chief Executive Officer, Dubai Corporation for Tourism and Commerce Marketing; and Abdulfattah Sharaf, CEO of HSBC UAE
Business
Production capacity of Al Maktoum Solar Park’s fifth phase up by 30MW
The production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park...
- The increased production results from using the latest solar photovoltaic bifacial technologies.
- The 900-megawatt fifth phase, with investments of AED 2.058 billion, is 60 percent complete.
Economy
IRENA sees rapid growth of hydrogen economy
The development may bring significant geo-economic and geopolitical shifts in the energy market, which is currently valued at $174 billion.
- IRENA estimates hydrogen to cover up to 12 percent of global energy use by 2050
- This is due to the climate urgency and countries’ commitments to net-zero emissions
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Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
Company News
Latest News
Qatar urges separating politics from the oil and gas trade
Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or...
Economy
IHC scales up IT business, makes deals worth US$272m
International Holding Company (IHC) has scaled up its IT business, making deals to the tune of $272 million in the...
Business
DEWA to pay one-time cash dividend
It received a dividend of $553m from its subsidiary, EMPOWER.
Business
Most Read
Analysis
UAE-UK partnership may unlock potential of clean hydrogen, boost economy, create 200,000 new jobs
The latest WGEO study is part of "our efforts to support the Dubai Clean Energy Strategy 2050 and the Dubai...
- By 2050, hydrogen is estimated to deliver more than $8.7bn annually to the UAE economy and $14.8bn GVA to the UK, says the latest WGEO report
- A UAE-UK collaboration -- involving policy, innovation, trade, and investment - has potential to create over 100,000 new jobs in each country, it adds
Economy
UAE-Egypt trade touches $67 billion in the last 22 years
The economic ties between the UAE and Egypt were strengthened this year by the signing of the Industrial Partnership for...
- The UAE is Egypt’s second leading trade partner in the region while Egypt is the fifth leading trade partner of the UAE in terms of non-oil trade
- The UAE is also the largest international investor in Egypt, with cumulative investments worth over $15 billion
Business
ADCB Q3 net profit at US$432m
The diversification of revenue streams boosted the bank's profitability.
- The bank reported a non-interest income of US$259 million (AED 952 million).
- ADCB said its operating income surged by 21 percent to reach US$955 million (AED 3.510 billion).