Russia ready to discuss Turkey’s idea about guarantors for Israel, Palestine, says Lavrov
PYONGYANG, NORTH KOREA - Russia is ready to discuss and consider Turkey’s initiative to establish a guarantor system in the...
Geostrategy
Business
Jordan defers Covid-19-hit restaurants’ repayments till mid-2022
Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document...
- Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document of inability to repay.
- He also commended the government’s financial assistance packages, which had mitigated the Covid-19 pandemic-conduced repercussions on Jordan's restaurant sector
Business
Suez Canal revenues hit all-time high of $6.3bn in 2021
The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.
- A total of 20,649 vessels flowed through the canal last year, an increase of 10 percent compared to 18,830 vessels in 2020
- The total net load through the canal in 2021 was 1.27 billion tons, against 1.17 billion tons in 2020: a difference of 8.5 percent
Expo 2020 DUBAI
World leaders, dignitaries hail UAE for Dubai Expo 2020
Several world leaders and dignitaries who attended the Dubai Expo 2020 have hailed the mega event as "a beacon for...
- The Expo will host the first Global Goals Week to be held outside of the United Nations in New York from 15-22 January.
- It will be the seventh Theme Week held under Expo’s flagship Program for People and Planet, helping to drive positive action.
Geostrategy
UAE bans travel for unvaccinated citizens from Jan 10
Travel is permitted for non-vaccinated citizens, if the cases include medical exemption from taking the vaccine, humanitarian cases, and individuals...
- The announcement follows the UAE’s vision in the recovery phase of the pandemic and enhancing national efforts in all sectors
- This is being done to ensure that health and safety are prioritized by the leadership and the country's proactive efforts to confront COVID-19
Business
On 40th anniversary, Abu Dhabi Airport vows improved services
Abu Dhabi Airports marked the 40th anniversary of the inauguration of Abu Dhabi International Airport (AUH) on Sunday, local media...
- The Airport was inaugurated on 2nd January 1982, with Etihad becoming the national carrier and the home airline in 2003.
- AUH launched the Smart Travel System in 2016, the first of its kind in the region, to ease passenger processing and experience.
Science
World’s first ‘wooden’ satellite set for launch in 2023
A team of developers from Kyoto University and Sumitomo Forestry Co said satellite that uses wood is cheaper than the...
- The development of the satellite is aimed at harnessing the the environmental friendliness and low cost of wood in space development.
- Its outside will be covered in wood and solar cells, and it will hold an electronic substrate inside.
Economy
Dubai government approves budget for 2022-24
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...
- The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
- Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Geostrategy
Grave violations surge against children in conflict: Unicef
Unicef Director Henrietta Fore said “parties to conflict” have continued to “demonstrate a dreadful disregard for the rights and wellbeing...
- In October, Unicef said around 10,000 children had been killed or maimed in Yemen since fighting escalated in March 2015
- Meanwhile, the Middle East and North Africa, in the first 6 months of 2021, saw the highest number of verified attacks on schools and hospitals
Business
Emaar Development CEO resigns
Bader Hareb resigned with effect from December 30 for ‘personal reasons.’
- The resignation was announced in a letter addressed to DFM Chief Executive Officer Hamed Ahmed Ali
- The letter did not give any detail of a successor to Hareb, or an interim appointment till one was named
Business
Expatriate remittances to Morocco exceeded $9.32bn till Nov 2021
Expenses stood at 9.8 billion dirhams at the end of November 2021, against 9.58 billion dirhams a year earlier and...
- Exports improved by 9.1% to reach 127.5 billion dirhams at the end of November 2021, and imports increased by 12% to 67.55 billion dirhams
- Travel revenues stood at 31.96 billion dirhams at the end of November 2021, against 31.72 billion dirhams at the end of November 2020
Most Read
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
Mubadala Petroleum rebranded
Business
Tabby launches in Egypt
Business
Latest News
DXB to welcome 2.1m passengers over 10-day school holiday break
October 30 is expected to be the busiest day with daily traffic exceeding 259,000 passengers.
Business
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Business
Aramco launches Taleed program to accelerate SMEs growth in Saudi
Riyadh, Saudi Arabia--Aramco said on Thursday it has launched Taleed program to accelerate the growth of Small and Medium Enterprises...
- Aramco said the program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives.
- It also aims to deliver funding and financial solutions to existing and new businesses through five funds, with a combined capital exceeding $800 million.
Business
High investments in H1 2022 for DEWA transmission substations
Dubai Electricity and Water Authority (DEWA) recorded substantial growth of 22 percent in investments allocated to transmission substations during the...
- From January this year to June 2022, DEWA commissioned a new 400 kV transmission substations.
- Now the total number of 400 kV transmission substations in Dubai has risen to 26.
Business
SABB posts 26% profit rise
The profit touched $931m in the first nine months of 2022.
- The bank said in a bourse filing that it recorded a profit of $746 million in the same period of the last year
- SABB said the rise in associate earnings also contributed to the results