Economy
S&P affirms Kuwait credit rating at A+ with negative outlook
"The government has almost exhausted the General Reserve Fund's liquidity", said the rating agency.
- It argued that despite higher oil prices and production levels, Kuwait's central government deficits are set to average 12 percent of GDP
- It, however, noted that it could revise the outlook to stable if the government successfully addresses Kuwait's existing fiscal funding constraints
Business
DEWA honors suppliers for ‘commitment to highest standards’
In a virtual ceremony, Dubai Electricity and Water Authority (DEWA) has recognized 41 of its suppliers for their commitment to...
- The suppliers were honored in the Strategic, Principal, and Main supplier categories
- The suppliers said that DEWA provides many opportunities to them according to the highest standards of integrity and transparency
Business
Saudi Customs impound 8.3m amphetamine pills
The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port,...
- The authority explained that the first consignment, which contained onions, was subject to customs procedures and examination through security techniques and police dogs
- Three people were arrested by the General Directorate of Narcotics Control
Geostrategy
Iran and China push for fulfillment of 25-year agreement
More than fifty years after establishing diplomatic ties, China and Iran accelerate implementation of the Iran-China 25-year cooperation program, which...
- The two sides enjoy common stances on several regional and international issues such as efforts to contain coronavirus, production of joint vaccines, fight against terrorism
- The Chinese and Iranian foreign ministers met on the sidelines of the Shanghai Cooperation Organization summit in Dushanbe, Tajikistan
Business
World’s first ‘experiential food & bar hall’ officially open
A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe.
- A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe
- The venue, which seats 600 guests, and 1200 guests at full capacity, offers consumers an exceptional multi-sensory dining experience unlike any other
Economy
Rabat: ‘MoroccoTech’ brand to promote digital sector
MoroccoTech aims to position the country as a digital destination of choice internationally.
- MoroccoTech aims to position the country as a digital destination of choice internationally
- The initiative is intended to promote Morocco as a producer of premium technologies and an investment destination
Business
RAK International Airport is ops base for ActionFlight
The overall deal is expected to help support Ras Al Khaimah’s strategic plans to expand its travel and tourism landscape.
- The collaboration is expected to see RKT become a hub for aerial experiences such as aerobatic flights, skydiving, and hot-air ballooning
- The agreement also means the airport will act as a base for Vertical, ActionFlight’s advanced pilot training program
Business
Dubai saw real-estate deals worth $1.23bn this week
During the week ending January 14, the transactions numbered 1,559, according to the Dubai Land Department.
- A total of 219 plots were sold for AED1.12 billion (around $305 million) in Dubai
- Meanwhile, 1,022 apartments and villas were sold for AED2.25 billion ($612.66 million)
Arts & Culture
Magazine names Green Corner Building among top ten architectural projects of 2021
Located in Muharraq, Bahrain, Green Corner operates under the auspices of Sheikh Ibrahim Centre for Culture and Research.
- Located in Muharraq, Bahrain, Green Corner operates under the auspices of Sheikh Ibrahim Centre for Culture and Research
- The project opened in January last year with the support of United Arab Emirates to commemorate the Year of Zayed
Business
Way paved for launch of first Mideast Steigenberger Porsche Design Hotel
Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company...
- Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels AG.
- Tourism Development Fund provides support to small, medium, and large enterprises and solutions tailored to suit the needs of investors.
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Company News
PIF to buy stake in Seera
Business
Latest News
‘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
ADIB posts $272m net profit
The year-on-year growth in net profit was 53% for the first nine months of 2022.
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...
Business
Most Read
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.
Geostrategy
GCC, S. Korea begin sixth round of talks on free trade agreement
SEOUL, SOUTH KOREA - The sixth round of revived negotiations between the Riyadh-based Gulf Cooperation Council (GCC) and the Republic...
- GCC and South Korea expressed readiness to advance discussions on a free trade agreement after a 13-year suspension.
- The agenda of the sixth round include trade in goods and services, investment, digital trade, and intellectual property rights.
Business
Doha Bank net profit climbs up 4.6 percent
It recorded the profit at $256m in the first nine months of 2022.
- According to data issued by the bank, published on Qatar Stock Exchange website today, earnings per share amounted to QR 0.30 in the period ending on Sept. 30, 2022
- Doha Bank was established in 1979, with a capital of $852 million