Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
Business
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
Economy
Palestine Q3 current-account deficit stands at $316m
The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by...
- This deficit in the current account was mainly triggered by the deficit of the trade balance of goods, which reached $1,464 million
- The total transfers from abroad amounted to $602 million, of which 17% were the transfers to the government sector
Economy
Jordan to disburse $1.4m to drought-affected farmers
Jordan will distribute JD1 million to compensate those suffered losses due to the Al Waleh Dam draught and cross-border fires...
- Jordan's cabinet had approved the disbursement of JD1 million in compensation from the Agricultural Risk Fund
- Jordan as tasked specialized committees to limit the damages in the northern Jordan Valley and the Al-Wala Dam
Arts & Culture
Largest museum of Egyptian civilization to open in 2022 near Giza Pyramids
Egypt is set to open what is billed as the world’s largest museum of Egyptian civilization near the iconic Giza...
- The Grand Museum is spread across 117 acres. Its inauguration was delayed due to COVID-19 pandemic, and will now open in the second half of 2022.
- Egyptian teams managed to restore very important statues in the Luxor area, including a statue of King Ramses II who ruled Egypt for 66 years.
Company News
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Jahez posts profit of US$14.2m
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...
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...
Business
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Arts & Culture
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.
- QS World University Rankings is an annual publication of university rankings by Quacquarelli Symonds
- The university recently ranked 101 in the world, according to Times World University Rankings 2023
Business
Saudi Center for Debt Management invites investors for bond repurchase
Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial...
- The Center said the process is part of the kingdom’s plan in the effective management of the debt portfolio.
- The size of the repurchase will be announced after the end of the period of receiving applications on October 24.
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.