KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
Business
Economy
Iran, Russia, Azerbaijan to connect power networks in May
Mohammad Ali Farahnakian, advisor to Iran's energy minister for international affairs, told IRNA on Sunday that given a contract among...
- Farahnakian noted that the energy corridor in northern Iran will bring profits and reduce the need to invest in the electricity sector of the Islamic Republic
- There are two potential corridors for energy sharing, including the Russia-Azerbaijan-Iran corridor and Armenia-Georgia-Russia, Farahnakian added
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
Company News
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Mubadala Petroleum rebranded
Business
Bayanat AI IPO tranche oversubscribed
The offering saw significant demand and commitment from IHC.
Business
Dubai records $2.17 billion in weekly real estate transactions
Dubai, UAE---A total of 2,703 real estate transactions worth AED8 billion ($2.17 billion) were conducted during the week ending 21...
Business
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Business
Dlala Holding to resume trading
The authorized capital of the company is US$78 million.
- The QSE announced after completing the process of reducing the company's issued capital from 284.16 million shares to 190.387 million shares.
- Dlala Holding Company was established and listed on Qatar Stock Exchange in 2005.
Business
UAE-UK Business Council to promote trade, investment
The UAE-UK Business Council hosted its 20th Plenary Meeting in Abu Dhabi, co-chaired by Ahmed Al Sayegh, Minister of State,...
- A new project on opportunities for UK-UAE collaboration on the decarbonization of the built environment was also announced.
- The Business Council announced it will support the Cherie Blair Foundation for Women.
Geostrategy
CARACAL signs ‘Make in India’ partnership with ICOMM
The agreement was signed during DEFEXPO 2022, the Land, Naval and Homeland Security Systems Exhibition, which is being held in...
- The agreement was signed during DEFEXPO 2022, the Land, Naval and Homeland Security Systems Exhibition, which is being held in Gandhinagar, Gujarat
- CARACAL and ICOMM will partner in the development of a full portfolio of locally manufactured small arms for the Indian market, as well as for international export