Red Sea International Film Festival to showcase 14 short films
Jeddah, Saudi Arabia - The Red Sea International Film Festival (RSIFF) unveiled Monday the lineup of international short films participating...
Arts & Culture
Hotels in UAE generate revenues of US$7bn in first seven months, says minister
ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
Business
Geostrategy
Saudi Fund invests in education, road projects in Lanka
The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death...
- The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
- The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education
Business
Multiply to invest in Getty Images
The deal is expected to close in the first half of 2022.
- The deal is expected to close in the first half of 2022, after which a newly formed parent company of Getty Images is expected to be listed on the NYSE
- The merger, which was announced in early December, involves a total equity investment of $1.3 billion, valuing Getty Images at US$4.8 billion, including debt
Geostrategy
Kuwait forms new Sheikh Sabah-led govt
Prime Minister Sheikh Sabah Al Khaled Al Hamad Al Sabah’s new cabinet represents Kuwait’s fourth government over the last year...
- The new government announcement came after an Emiri order assigning Sheikh Sabah Al-Khaled as Prime Minister on November 23
- The cabinet has a new finance minister and includes three opposition legislators following a standoff between previous govts and parliament.
Business
Dubai Chamber to start four-and-a-half day working week from Jan 2022
Dubai Chamber has announced that it will shift to a four-and-a-half day working week from 3 January 2022. This is...
- The new working week is in line with the newly approved workweek for UAE federal government employees.
- The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.
Business
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
- This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
- The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy
Oman central bank’s FX reserves reached $18b in 2021
The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.
- The bank’s board of governors observed that the total demand for foreign currency in the local market was at satisfactory levels
- This, it opined, has brought the FX reserves of CBO in equation with the value of nine months of country’s imports
Economy
Iraq records high positive indicators for the economy in 2021
The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an...
- All economic development movement shows positive results, the Ministry of Planning has said
- The government projects that were suspended due to the financial and economic crisis have been resumed
Economy
Qatar to spend $60 million to build gas line for Gaza power station
The MoU was signed with the Energy and Natural Resources Authority, affiliated with the Palestinian Authority and the Gaza Electricity...
- The MoU was signed with the Energy and Natural Resources Authority, affiliated with the Palestinian Authority and the Gaza Electricity Generation Company in the Gaza Strip
- The Chairman of the Qatari Committee, Mohammed Al-Emadi, said that the agreement stipulates an increase in the plant’s production capacity to reach 500 megawatts
Economy
Jordan tourism revenues pass $21 million in first 11 months of 2021
The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
- The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
- Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Business
Etihad signs China deal
The airline will work with the Henan Province Airport Group.
- The virtual MoU was signed during the virtual Zhengzhou Week event at the China Pavilion at Expo 2020 Dubai
- It is said to contain plans for Etihad’s potential operation of regular cargo services between Abu Dhabi and Zhengzhou
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
Red Sea International Film Festival to showcase 14 short films
Jeddah, Saudi Arabia - The Red Sea International Film Festival (RSIFF) unveiled Monday the lineup of international short films participating...
Arts & Culture
Company News
ADX partners with FTSE Russell
Business
Latest News
CBUAE issues commemorative coins on Tawazun’s 30th anniversary
The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative...
Economy
Aramco to build fabrication yards
The yards will more than triple Saudi offshore fabrication capacity.
Business
Saudi economy is the fastest growing among G-20 in 2022: report
The announcement comes after the IMF affirmed that the Kingdom's economic prospects are positive in the short and medium term.
Economy
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Business
Abu Dhabi Chamber to launch new digital platform
Abu Dhabi Chamber of Commerce and Industry (ADCCI) will launch a new platform for Abu Dhabi's business community in order...
- The Business Matchmaking Platform, which is currently going through the development phase, will enhance the experience of Abu Dhabi’s business community
- Members of Abu Dhabi Chamber will also be able to have a comprehensive overview of upcoming events and register for them, as well as access the latest data and insights
Geostrategy
Arab world rallies around Saudi Arabia over oil cut decision
Rallying behind Saudi Arabia, several Arab states have voiced their support for Saudi Arabia in the face of harsh criticism...
- The UAE said that the OPEC+ decision was vote-based collective
- Toeing the UAE’s line, Bahrain has expressed solidarity with Saudi Arabia, rejecting statements pushing towards politicizing OPEC+ decision on oil production cuts
Economy
Visa-free travel between UAE, Japan starting Nov 1
Holders of UAE passports can stay in Japan for up to 30 days during each visit for the purpose of...
- Holders of UAE passports can stay in Japan for up to 30 days during each visit for the purpose of tourism or work
- The UAE is Japan's tenth largest trading partner in the world and is home to more than 340 Japanese companies operating in various sectors