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
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
Economy
Dubai ruler issues six decrees regulating Dubai Chambers
Dubai has passed legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The...
- The legislations include a decree establishing Dubai Chambers as a new entity that replaces the Dubai Chamber of Commerce and Industry
- The legislations also enable Dubai Chambers to map out a clear vision for the future by adding more roles and powers
Geostrategy
UAE, Norway discuss cooperation, eye better relations
The UAE and Norway have discussed cooperation in relations between the two countries, said local media reports. The UAE Minister...
- The two sides reviewed a number of issues related to the work program of the UN Security Council, which is chaired by the Kingdom of Norway this month.
- The UAE Foreign Minister and the Norwegian counterpart also discussed the developments of the COVID-19 pandemic and the efforts to contain the virus.
UAE launches Joint Emirates Shield exercise to boost defense capabilities
Abu Dhabi, UAE - The UAE Ministry of Defense announced today the launch of the 'Joint Emirates Shield / 50'...
- The exercise is part of a series of operational drills slated for 2022 and aims to boost the combat readiness of the UAE Armed Forces' major units.
- The organization of the "Joint Emirates Shield / 50" aim to consolidate the combat readiness of the UAE Armed Forces to defend the land, naval and air borders of the UAE
Business
Investcorp acquires Resa Power
Resa serves over 6000 clients across the US and Canada.
- Investcorp’s partnership with Resa will focus on continuing the Company’s organic growth, expanding geographically across North America.
- Resa provides maintenance and testing, systems integration, and related distribution services to clients across the renewables, commercial markets in North America.
Business
DAFZ unveils “Talent Pass” license
The Dubai Airport Freezone (DAFZ) has launched the ‘Talent Pass’ license for freelance work (self-employment).
- The initiative is expected to further vitalize the business environment in the free zone and strengthen Dubai’s position as a global destination for innovators and talent
- The ‘Talent Pass’ qualifies its holder to obtain a residence visa for three years
Business
SCC’s committee endorses Sharjah Free Zones policy draft
The Sharjah Consultative Council (SCC) has approved its recommendations on the policy of the Sharjah Ports, Customs and Free Zones...
- The meeting was chaired by Ali Mehd Al Suwaidi, Chairman of the Sharjah Consultative Council
- The members of the Council also discussed the provisions of the recommendations and addressed a number of topics
Economy
Saudi foreign currency reserves take a 2% dip in December
Foreign currency reserves of Saudi Arabia dipped nearly two percent in December, according to preliminary data shared by the Saudi...
- Foreign currency reserves declined to SR1.61 trillion ($429.5 billion) from SR1.64 trillion in November
- The preliminary release does not provide any further breakdown of total foreign currency reserves
Geostrategy
Saudi, UAE, US, UK welcome efforts to resolve Sudan crisis
Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States of America have welcomed the announcement that...
- The four countries hailed the UN Interim Transition Assistance Mission's facilitation of discussions.
- The Quad said they look forward to this being a results-oriented process that will guide the country towards democratic elections.
Business
Study to look at green hydrogen alliance between UAE, UK
A new research paper will explore potential green hydrogen collaborations between the United Arab Emirates and the United Kingdom.
- The report, sponsored by HSBC, will seek to uncover mutual opportunities to accelerate the development of the respective clean hydrogen markets of the UAE and the UK
- Research for the report will include stakeholder meetings and workshops to test and validate findings
Business
Close to 1800 hybrid vehicles to join Dubai Taxi Corporation
Dubai’s Roads and Transport Authority (RTA) has signed a contract for the procurement of 2,219 new vehicles to enhance the...
- The total number of hybrid vehicles in Dubai Taxi fleet jumps to 4,105 vehicles, which constitutes 71% of the total number of taxis operated by the DTC
- The Strategic Plan of the Dubai Taxi Corporation (2021-2023) encompasses 51 initiatives based on key pillars highlighted by increasing the market share of DTC taxis from the existi
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
Company News
DEWA plans cash dividend for H1
Business
Kuwaiti Camel Racing Club sports season 2022-23 begins
Arts & Culture
Latest News
UAE-Bahrain non-oil trade surges to $6.5bn in 2021
The UAE Foreign Minister stressed that the trade growth didn’t reflect the “true potential” of the two countries.
Geostrategy
CITC unveils initiatives, launches at Digital Technology Forum 2022
The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in...
Business
Iran signs contract with Russia to supply it with 40 turbines
Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid...
Geostrategy
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Economy
Qatar’s General Tax Authority launches digital tax stamp
The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code...
- The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code containing encrypted data
- The digital tax stamp on goods will enable monitoring and tracking of the movements of these goods within the Qatari market
Geostrategy
Arab League welcomes UN report on Israeli conduct in Palestinian territories
Welcoming the report brought out by the UN Independent International Commission of Inquiry, the Arab League has praised the efforts...
- The report documented in detail Israeli policies and procedures that form crimes as per the International Criminal Law
- The Arab League said the contents of the report are an important addition to the series of positions and reports issued by the UN and human rights international institutions
Business
QatarEnergy partners with Shell in North Field South expansion project
The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25...
- The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25 percent interest available for international partners
- The North Field Expansion Project, comprising NFS and the North Field East (NFE) expansion projects, is the industry's largest-ever LNG project