Ground operation likely in Gaza Strip, says Israeli envoy to Russia
MOSCOW, RUSSIA - The probability that the Israel Defense Forces (IDF) will launch a ground operation against Palestinian group Hamas...
Geostrategy
Neighboring nations fear repercussions of Gaza conflict
As Israel advises around 1.1 million residents of northern Gaza Strip to evacuate, concerns grow about the potential ripple effects...
Geostrategy
Business
AD Ports Group revenue grows 22% to US$760mn in 2021
AD Ports Group signed several partnerships to accelerate trade and the development of industry in the UAE and beyond, including...
- AD Ports Group closed 2021 with the signing of a number of strategic agreements with the Aqaba Development Corporation
- The Group received global interest in its issuance of a US$1 billion bond and subsequent listing on the ADX and the LSE
Business
Masdar to build Georgia’s biggest solar energy plant
Renewable energy company Masdar will be developing Georgia's largest solar power plant, with a capacity of 100 megawatts (MW), jointly...
- The 100-megawatt plant will be built jointly with Georgian Energy Development Fund (GEDF).
- GEDF is a joint-stock company, founded by the Ministry of Economy and Sustainable Development, and wholly state-owned. Georgia.
Business
Iran making efforts to ease travel of expats to country: Ebrahim Raisi
Iranian expats are free to travel to and from the country and the government's plans and decisions should ensure that...
- President Raisi said "ill-wishers of the Iranian nation" were intimidating Iranian expatriates so that they will not come back to their country.
- Iranian laws recognizes even the second and third generation Iranians abroad as Iranian citizens.
Business
EGA repays Al Taweelah loan
The repayment four years and seven years early totaled $361 million.
- The project finance facilities had been extended by 13 export credit agencies and banks for the development of the company’s Al Taweelah smelter in Abu Dhabi.
- EGA’s said its financing has been reduced by over $1 billion in the last two years and now consists of a senior term loan facility of $5.5 billion
Arts & Culture
Dubai Racing Club to celebrate #DubaiDestinations initiative on 1 Jan
The Dubai Racing Club announced that its seventh race meeting at the Meydan Racecourse on 1 January 2022 will be...
- Each of the day’s seven races will be named after one of Dubai's iconic destinations, beginning with the ‘Etihad Museum’ maiden race.
- The Meydan Racecourse attracts thousands of visitors every year from all over the world to follow its events and races, the statement said.
Economy
CBUAE fines exchange house $160,000 for using civilian vehicle to transport money
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent.
- The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent
- The CBUAE works to ensure that all licensed financial institutions operating in the UAE, including exchange houses, abide by UAE laws
Business
NMDC wins $354m contract
The contract is for the Shamal Development marine works.
- The Shamal Development is part of the Khalifa Port located in Taweelah in Abu Dhabi
- It was built on a reclaimed artificial island reaching 4.5 km offshore
Economy
Jordan signs pact with Germany, EU to build water projects
The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The value of the EU’s bilateral support to the water and sanitation sector in Jordan is over 150 million euros
Economy
Jordan approves measures to stabilize commodities prices
Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30...
- Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months
- The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers
Geostrategy
Finland provides $2.27m to fund Palestinians’ hospital referrals
Finland will give €2 million ($2.27 million) to the Palestinian Authority to support the payment of medical referrals to East...
- This contribution will be channeled through the EU Program of Direct Financial Support to the Palestinian Authority’s PEGASE mechanism
- The aid will help the Palestinian Authority meet its obligations towards East Jerusalem hospitals
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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
Ground operation likely in Gaza Strip, says Israeli envoy to Russia
MOSCOW, RUSSIA - The probability that the Israel Defense Forces (IDF) will launch a ground operation against Palestinian group Hamas...
Geostrategy
Company News
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Jahez posts profit of US$14.2m
Business
King Abdulaziz University best in Arab world in QS World Rankings
QS World University Rankings is an annual publication of university rankings by Quacquarelli Symonds.
Arts & Culture
Most Read
Business
ENOC opens new station in Al Hamriya Port
This would be the eighth marine service station in the emirate.
- The station is equipped with two fuel tanks and two fuel dispensers, offering Diesel, as well as a prefabricated structure featuring a ZOOM convenience store.
- ENOC said the station is equipped with energy efficiency features such as Variable Refrigerant Flow (VRF) air-conditioning to cut down electricity use by up to 35 percent.
Economy
Saudi crown prince unveils National Industrial Strategy
The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment.
- The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment
- The policy also intends to raise the number of factories in the kingdom from 10,640 at the moment to 36,000 by 2035
Business
Mubadala acquires stake in Skyborn
Skyborn Renewables is the world’s largest private offshore wind developer.
- The investment by Mubadala also includes the acquisition of a stake in GIP’s 50 percent interest in NY Bight Project called Bluepoint Wind.
- In April this year, Mubadala was part of a BlackRock Real Assets-led consortium which agreed to invest $525 million into the renewable energy arm of India’s Tata Power.