Oil prices spike as Hamas attack on Israel fuels supply fears
The attack and Israel's declaration of war in response to it have raised concerns that a potential broadening of the...
Economy
Dubai’s weeklong real estate transactions exceed US$2.5bn
DUBAI, UAE - A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
Business
Videos
Which are priority sectors in 2022 Saudi budget?
With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors...
- Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil
- For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone
Business
Bahrain closes two eateries over violation of Covid-19 protocols
Inspectors also visited a total of 193 restaurants and cafes and took required measures against 17 outlets.
- The Ministry of Health announced that it had taken the required measures prior to referring both food outlets to legal authorities
- This came during an inspection campaign conducted in cooperation with the Ministry of Interior and the Ministry of Industry
Economy
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.
- The aid included both periodic and lump-sum amount, and disbursed by the fund's management to the eligible families
- Zakat performers can pay their zakat via the Zakat Fund website , offices, and collection points
Business
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.
- The discussion took place in a meeting between UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan and Morocco Prime Minister Aziz Akhannouch
- They are also said to have reviewed the latest developments in the Arab region and exchanged views over a number of regional and international issues of common interest
Grankraft to invest in Hamriyah
Grankraft has leased 323,000 sq ft of land in the free zone.
- The MoU was signed by Hamriyah Free Zone Authority Director Saud Salim Al Mazrouei and Grankraft Director J George
- George said his company was always looking for new ways to develop its services and build landmarks
Geostrategy
Arab League chief urges cooperation to achieve successful Libya elections
Aboul Ghaith pointed to the dangerous juncture that Libya is going through, and said that everyone should join hands and...
- In a statement, Aboul Gheit urged the concerned parties to adopt dialogue as the only means to resolve the dispute
- Gheit stressed on the importance of a national consensus on the legal and procedural rules for the elections
Economy
Iraq owes no more than $5bn to World Bank and IMF: Official
The economy of Iraq depends upon oil as it constitutes 45 percent of the GDP and affects about 80 percent...
- The World Bank loans in particular are long-term and have grace periods of about six years, extending up to 14 years
- The World Bank Loans are 'similar to the interest of the London markets on dollar lending transactions'
Geostrategy
UAE, Canada discuss cooperation for women’s empowerment
During the meeting, the Canadian ambassador was briefed about the initiatives launched by the UAE to strengthen women's rights.
- The meeting discussed the UAE's experience in empowering women since the country was established and the key role women played to support the country
- Grossman emphasized Canada’s keenness to boost cooperation in women’s empowerment and take advantage of the country’s experience in Gender balance
Business
An old Greek Cargo Ship attracts tourists in Saudi Arabia
The ship was loaded with foodstuffs and sailed in 1978 from a Greek port towards the Aqaba port in Jordan,...
- Georgios-G was built in the UK with a length of 71.6 meters, a width of 11 meters, and a height of 4.9 meters
- Currently, the ship is resting in the same place with more than two-thirds of its structure submerged in water
Economy
UNRWA calls for long-term funds to help refugees in Palestine
UNRWA Commissioner-General Philippe Lazzarini has acknowledged that stagnating donor funding for close to a decade remained below the amount needed...
- As of now, more than 5 million Palestinians have registered with UNRWA as refugees
- They are spread across the West Bank, including East Jerusalem, the Gaza Strip, Lebanon, Syria, and Jordan
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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
Oil prices spike as Hamas attack on Israel fuels supply fears
The attack and Israel's declaration of war in response to it have raised concerns that a potential broadening of the...
Economy
Company News
TAQA to buy AlMansoori
Business
Aldar acquires Spark Security
Business
Latest News
ADQ submits shareholding offer to ADA
ADQ aims to establish a diversified aviation services and MRO business.
Business
UAE calls Borrell’s ‘jungle’ remark as ‘racist and disappointing’
"Borrell’s remarks are a disappointing development that comes at a time when all parties are aware of the importance of...
Geostrategy
World Cup boom pushes some Qatar residents out of homes
More than one million football fans are expected to descend on the capital Doha during the November-December tournament, putting a...
Business
Most Read
Business
Al Seer signs JV
The agreement was signed with Damen Shipyards and DTec Industries.
- They will implement their success formulas to ventures and local partnerships to sell, build and maintain high-quality, innovative, and cost-effective marine vessels.
- The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence.
Geostrategy
UAE contributes $25 million toward Al Makassed Hospital in East Jerusalem
Abu Dhabi, UAE---The United Arab Emirates will contribute $25 million toward Al Makassed Hospital in East Jerusalem in collaboration with...
- At Al Makassed Hospital , it is expected that more than 130,000 people will benefit from its health services.
- Sultan Mohammed Al Shamsi, Assistant Minister of Foreign Affairs, said the agreement reflected UAE's historic commitment to Palestinians.
Business
Saudi Top to list on Nomu
The company will list 880,000 ordinary shares via an IPO.
- According to a bourse filing, this represents around 22 percent of Riyadh-based Saudi Top’s share capital
- The end price of the offering is expected to be determined once the book-building process for the offering has been completed