Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...
Business
Arts & Culture
Saudi Arabia unveils largest Motor festival in Middle East
The management of Autoville has officially started selling tickets for the events of this International festival through its official website.
- The Autoville festival will cover an area of 1.7 million square meters as the audience will watch the stars of art and display cars from all over the world
- The festival will also showcase the latest developments in mobility, and a number of concerts by a group of Arab and international artists
Business
Bahrain to launch e-residency service in Q1 of 2022
The country also mulled the idea of extending the validity of visas to reduce routine procedures.
- Both sides also discussed cooperation at ports and the possibility to extend the validity of visas to reduce routine procedures
- The NPRA and LMRA agreed to intensify inspection campaigns to tackle violations of the labor market and residency rules
Business
KCB lent $1.31bn in 2021
The Kuwaiti bank’s lending amount was spread across 23,000 loans.
- KCB spokesperson Habari Al-Khashti said the effectiveness of the bank's electronic services saved time and effort for citizens
- She also indicated that 99 percent of the bank’s credit services have become electronic
Business
Gulf Navigation to issue $41m bonds
The company is calling a meeting of all stakeholders for this.
- The company said the date of issuance of the bonds is March 9
- The conversion period of the bonds would be three months from the issuance date
Economy
Saudi Arabia GDP to gain in 2022: Kuwait Financial Center
Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth.
- Markaz’s report indicated that investments are expected to pick up as the government initiates major projects like Neom City
- Steady population growth, government subsidies, and the enacted mortgage law are enabling banks to finance home purchases, fueling the growth in the residential sector
Business
EMC picks Mohammad Ghazi as GM
Momani will manage Mercedes-Benz's overall performance at EMC.
- Mohammad Ghazi Al Momani possess an experience of 20 years in motoring and a degree from the University of Technology in Baghdad, Iraq
- Momani specializes in strategic planning, marketing, sales, after sales and operations, and good knowledge of the Middle East
Arts & Culture
Saudi drive to widen literacy rate pays off
Saudi Arabia's drive to increase literacy rate in the kingdom seems to be bearing fruit. According to the ministry of...
- On Saturday, the ministry will participate in the celebration of Arab Literacy Day, which was approved by the Arab Organization for Education, Culture, and Science (ALESCO)
- At the beginning of the academic year 2021-2022, the ministry provided quality educational and training programs that corresponded to the characteristics of adults
Expo 2020 DUBAI
DEWA’s pavilion at Dubai Expo lures visitors in droves
Some 338,833 people visited the pavilion of Dubai Electricity and Water Authority (DEWA) at Expo 2020 Dubai between 1 October...
- Several local and international officials from public and private organizations as well as a large number of school and university students visited DEWA’s pavilion
- On the 2nd of December 2021, DEWA’s pavilion attracted over 23,400 visitors as it organized various activities to celebrate the UAE’s 50th National Day
Business
Dubai records first working Friday sale worth $689m
The total value of real estate transactions recorded in the first week of the new year exceeded AED7.24 billion (around...
- Dubai real estate transactions exceeded around AED2.53 billion (around $688 billion) as it adopted a new working week
- Jebel Ali First registered the most villa and apartment sales transactions on the first working Friday of 2022
Business
Red Sea signs $19.49m deal
It is a seven-year extension contract with Schlumberger.
- As part of the deal, RSI is expected to provide facility management services for its specialized modular camps
- This will reportedly support Schlumberger's oil drilling operations in the Eastern region of the country
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Latest News
ADCB green bond raises $500m
Business
DIEZ cooperates with DP World to support career initiative Tumoohi
Dubai, UAE---Dubai Integrated Economic Zones Authority (DIEZ) will collaborate with DP World to support the Tumoohi Initiative, a training program...
Economy
Saudi Crown Prince launches program to make KSA investment hub
Saudi Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs Prince Mohammed bin Salman bin...
Economy
Jordan to host 2022 OSCE Mediterranean Conference
AMMAN, JORDAN - Jordan will Monday host the 2022 Organization for Security and Co-operation in Europe (OSCE) Mediterranean Conference, organized...
Geostrategy
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Geostrategy
Saudi minister calls for road map to enhance OIC “media action”
Riyadh, Saudi Arabia— Saudi Media Minister Majid Al-Qasabi has called for developing a trust-based road map with clear mechanisms to...
- The minister was speaking at the 12th session of the Islamic Conference of Information Ministers of the Organization of Islamic Cooperation in Istanbul
- OIC Secretary-General Hissein Brahim Taha addressed the opening session of the conference, held under the theme of “Combating Disinformation and Islamophobia in the Post-Truth Era"
Business
Qatar Chamber to build trade and economic ties with Benin
Doha, Qatar— Qatar Chamber has signed an agreement with the Benin Chamber of Commerce and Industry to develop economic and...
- The agreement was signed by the First Vice-Chairman of the Qatar Chamber Mohammed bin Twar Al Kuwari and the President of the Benin Chamber Arnauld Akakpo
- The agreement also aims to expand the scope of measures to assist and facilitate the visits of mutual delegations and work to establish a framework for cooperation
Economy
GCC unveils Center for Disease Prevention and Control
Riyadh, Saudi Arabia—The GCC has unveiled the Gulf Center for Disease Prevention and Control in Riyadh to enable the prevention...
- The GCC health ministers and GCC Secretary-General Dr. Nayef Al-Hajraf were present at the event
- The ministers discussed various issues of common interest and took several decisions, including the implementation of decisions and directives of the Supreme Council