Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
Business
Geostrategy
DEWA officials visit US to strengthen ‘joint relations’
Led by Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), a group of DEWA...
- Al Tayer’s delegation included Waleed bin Salman, Executive Vice President of Business Development and Excellence, Marwan bin Haidar, Executive Vice President of Innovation
- The delegation visited the Kennedy Space Center, which is operated by the National Aeronautics and Space Administration (NASA)
Business
Saudi Aramco and Hungary’s MOL to buy Polish oil assets
Poland's state-owned refiner PKN Orlen announced Wednesday plans to sell oil assets to Saudi Aramco and Hungary's MOL in order...
- PKN Orlen to sell oil assets to Saudi Aramco and Hungary's MOL in order to meet EU conditions for its merger with domestic rival Grupa Lotos.
- Saudi Aramco will buy a stake in Lotos's refinery and MOL will purchase several hundred Lotos petrol stations to fulfil the conditions.
Business
Mining third pillar of Saudi economy, ripe with opportunities: PIF governor
The mining sector is the third pillar of Saudi Arabia's economy and the kingdom has enormous natural resources and offers...
- PIF considers mining one of the main strategic sectors to realize the Saudi Vision 2030 goals, says Yasir bin Othman Al Rumayyan.
- Saudi Arabian Mining Company (Ma'aden) has doubled its revenues to become a world-class operator, he said.
Business
Abu Dhabi University earns 5 star rating for online learning
Abu Dhabi University (ADU) has earned the highest rating of 5 stars by Quacquarelli Symonds - QS Stars Rating for...
- The ADU has achieved an overall score of 95 percent in the Online Learning category
- The university integrated modern technologies into its curricula, including virtual reality (VR), augmented reality (AR) and 3D technology
Business
UAE Ministry of Economy receives 2,428 patent applications in 2021
The UAE's Ministry of Economy has received 2,428 patent applications in 2021, an increase of 26.7 percent from 2020 when...
- There was an increase of 26.7 percent from 2020 when 1,917 applications were received.
- Machinery and construction (23 percent) and chemical engineering (24 percent) accounted for bulk of the applications.
Mohammed bin Rashid oversees swearing-in of judges
Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice President and Prime Minister of the UAE, has presided...
- The ceremony saw five first instance court judges and judicial inspectors taking the oath
- Also attending were Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, Sheikh Ahmed bin Saeed Al Maktoum, Chairman ofCivil Aviation
Geostrategy
Iran proposes ‘Joint Economic Union’ with Latin American countries
Iran has said there is a possibility of establishing a 'Joint Economic Union' with Latin American countries, particularly with Cuba,...
- Iranian Vice President for Economic Affairs Mohsen Rezaei put forward the proposal in his meeting with the Cuban President Miguel Mario Diaz-Canel Bermudez.
- President Diaz emphasized the need for expansion of comprehensive cooperation with Iran.
Geostrategy
UAE and Nepal to boost ties in areas of common interest
Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, has discussed with Krishna Prasad Dhakal, Ambassador of Nepal to...
- During the meeting held at the ministry in Abu Dhabi, Al Awar stressed the importance of strengthening relations between the UAE and Nepal in areas of common interest
- The Nepalese ambassador, in turn, lauded the measures and initiatives implemented by the UAE government to confront the repercussions of the COVID-19 pandemic
Arts & Culture
Longest Persian novel Kelidar translated into Arabic, published in Cairo
The longest Persian novel or the second-longest novel in the world “Kelidar” has been translated into Arabic and published in...
- Kelidar is story of a nomadic Kurdish family, who moved to a village in the outskirt of Sabzevar city in Khorasan Province, northwest Iran
- Dowlatabadi spent 15 years writing Kelidar in more than 950,000 words. Iran’s Farhang Moaser Publishers published Kelidar in 10 volumes between 1978 and 1984.
Geostrategy
Abbas meets al-Sisi, discusses bilateral cooperation
The two met on the sidelines of the 4th edition of the World Youth Forum being held in Egypt's Red...
- The two met on the sidelines of the 4th edition of the World Youth Forum being held in Egypt's Red Sea resort city of Sharm El-Sheikh
- Abbas briefed Al-Sisi on the latest developments in the Palestine-Israel conflict and human rights violations against the Palestinian people in the occupied territories
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Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
Business
Company News
Latest News
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...
Economy
ADCB Q3 net profit at US$432m
The diversification of revenue streams boosted the bank's profitability.
Business
UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index
The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
Infographics
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Economy
Oman’s CPI inflation rate rises 2.4 percent in September
MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly...
- The report noted prices of education group increased by 5.1 percent.
- The prices of health group and food group surged by 3.5 percent and 5 percent respectively.
Business
Aliph Capital secures $125m investment for its maiden fund from ADQ
Aliph Capital is an alternative investment firm focused on private equity investing.
- Aliph Fund I (LP) is a $250 million target private equity fund domiciled in ADGM aiming to invest in high-quality mid-sized companies in the UAE.
- Aliph Capital will seek to acquire sizeable, active positions in privately owned mid-market companies across the GCC that possess robust business fundamentals, the company said.
Business
Mubadala, KKR in $1bn capital tieup
The two firms signed a partnership to provide bespoke credit solutions.
- In APAC, KKR has deployed nearly US$3 billion in credit capital since 2019.
- The APAC credit business is part of KKR's approximately $178 billion global credit platform.