Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
Geostrategy
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
Geostrategy
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.
- The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
- Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
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
Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
Geostrategy
Company News
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Wio launches in UAE
Business
PIF to buy stake in Seera
Business
First Abu Dhabi Bank Group net profit for nine months of 2022 $2.96 billion
The bank said impairment charges were AED1.7 billion, 11 percent lower YOY.
Business
Aramco chief at FII6: World needs realistic, optimal energy transition plan
"The current transition plan isn't working. We are still dependent on coal. We need to have a new consensus on...
Geostrategy
Early preparations put GCC in better place to face tough economic conditions: Saudi finance minister
Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in...
Economy
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Business
Inditex sells Russian business to Middle Eastern Daher Group
Inditex closed its over 500 stores in Russia in March.
- Following Moscow's invasion of Ukraine on February 24 and Western sanctions, Inditex closed its over 500 stores in Russia in March
- The UAE and a number of other Gulf and Asian countries are regarded by the Kremlin as friendly states, and their companies are encouraged to conduct business in Russia
Business
Mashreq posts net profit of US$708m
The embrace of digital services by it customers drove growth.
- Its operating income has increased by 24.3 percent over the previous year to $1.44 billion
- The operating profit at $871 million represents a 33.2 percent increase compared to the same period of 2021
Economy
‘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...
- Qatar's GDP during the first half of this year increased by 4.3%, supported by a 7.3% growth rate of the non-oil sector
- The hike in energy prices turned a projected budget deficit at the beginning of the year into a surplus of about QAR 47.3bn in H1