Saudia records 50 percent growth in operations during Umrah season
JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...
Business
Business
Saudi-Emirati Council meets to discuss economic ties
The UAE hosted a meeting of the Finance and Investment Committee of the Saudi-Emirati Coordination Council to discuss financial and...
- From the UAE, Younis Haji Al Khoori, Under-Secretary of Ministry of Finance, chaired the meeting alongside senior officials from MoF
- From Saudi Arabia, Abdulaziz Al Rasheed, Assistant Minister of Finance for International Financial Affairs and Macro-Fiscal Policies chaired the meeting
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.
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UAE solar energy leader in Arab world
Infographics
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',...
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...
Geostrategy
Doha Bank net profit climbs up 4.6 percent
It recorded the profit at $256m in the first nine months of 2022.
Business
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Business
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...
- It is part of the company's long-term strategy to grow its capacity in the tech industry across different sectors
- Technology mergers and acquisitions in 2021 increased by 71 percent from 2020 levels, with dealmaking totalling US$1.1 trillion
Business
DEWA to pay one-time cash dividend
It received a dividend of $553m from its subsidiary, EMPOWER.
- DEWA intends to seek approval to make a one-time special dividend payment to its shareholders
- Its CEO said that the company will continue to look for ways to optimize total returns for our shareholders
Business
Sharjah Islamic Bank’s profit rises 24%
Operating profit before provisions rose by 12%.
- Operating profit rose by 11.9 percent, amounting to $198 million for the 3rd quarter of 2022, compared to $178 million
- The bank recorded impairment provisions of $44 million, compared to $53 million during the last period