NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
Geostrategy
China wants greater GCC role in global, regional affairs
GCC Secretary-General Naif Falah Al-Hajraf and Chinese State Advisor and Minister of Foreign Affairs, Wang Yi, also agreed on a...
- In a joint statement, the Chinese side is said to have praised the GCC’s achievements since its inception 40 years ago
- The two sides concurred on the completing negotiations on the free trade agreement between the GCC and China as soon as possible
Business
DEWA launches nanosatellite
DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket.
- DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket from the Cape Canaveral Space Launch Complex (SLC-40) in Florida in the US
- The launch made DEWA the world’s first utility to use nanosatellites to improve the maintenance and planning of electricity and water networks
Arts & Culture
Dubai seeks feedback on social services to enhance quality of life
The UAE has issued a decree which seeks to obtain feedback from Emiratis on their requirements for social services, with...
- The Decree seeks to obtain feedback from Emiratis on their requirements for social services, with the aim of enhancing their quality of life.
- The Decree also seeks to promote a positive outlook in the community and enhance the role of youth and children through targeted programs.
Business
Mineral resources key to supporting Saudi economy: Investment Minister
Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih said that the mineral resources sector is among the most important...
- General program for Geological Survey results in issuing 75 new exploration licenses after the launch of the new Mining Investment Bylaw in January 2021.
- Estimations put the value of mineral resources in the Kingdom of Saudi Arabia at $ 1.3 trillion.
Geostrategy
DEWA invites people to live coverage of its nanosatellite launch
The U3 nanosatellite was designed and developed at DEWA’s R&D Centre
- The satellite will be launched by SpaceX Falcon 9 rocket from Cape Canaveral Space Launch Complex (SLC-40) in Florida, USA.
- MD & CEO of DEWA Saeed Mohammed Al Tayer will attend the launch along with officials from DEWA, SpaceX, and NanoAvionics.
Economy
EU expects more GCC investors for its special program: Official
On 12th October 2021, the European Commission issued its first-ever NextGenerationEU green bond
- The program is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by COVID-19.
- Since June 2021, the European Commission has rolled out five issuances and raised around €71 billion in long-term EU-Bonds, and short-term EU-Bills
Business
Oman and UK sign agreement to bolster trade relations, investments
Oman and the United Kingdom have agreed to bolster relations and high-value investment volume, Omani media reports said. To this...
- The trade volume between the two countries reached GBP 1 billion ($1.37 billion) annually.
- Direct British investments comprise 50 percent of the foreign investments volume in Oman over the past years.
Business
Saudi Central Bank issues controls for electronic issuance of banking documents
The Saudi Central Bank (SAMA) has issued controls the banks need to consider while issuing banking documents, Saudi media reports...
- The controls oblige banks to provide e-verification services of banking documents issued electronically or on paper.
- These controls included the minimum limit of banking documents necessary for being electronically issued.
Geostrategy
FANA flays attempts to block info on Palestine, approves 2022 budget
The Federation of Arab News Agencies (FANA) has stressed on the significance of the Palestinian cause and flayed the attempts...
- The next general assembly of FANA will be held in Abu Dhabi on November 15-17 this year, coinciding with the Global Media Congress.
- News agencies of Jordan, UAE, Bahrain, Sudan, Oman, Kuwait, Lebanon, Iraq, Mauritania, Yemen, Qatar, Tunisia, Palestine and Libya attended.
Geostrategy
Jordan calls on donors to fund national water carrier project
Jordan is the second-most water scarce country in the world, according to Unicef.
- The project is aimed to be able to provide "sufficient and sustainable" desalinated water
- It will produce an estimated 300 million cubic meters of water annually to cover Jordan’s needs
Company News
Latest News
‘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.