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
Arts & Culture
Kuwait Gulf Games deferred, will be held in May 2022
Kuwait will host the third Gulf Games from May 11-21, Secretary-General of Kuwait Olympic Committee Husain Al-Musallam said on Sunday....
- The Gulf Games include football, handball, volleyball, basketball, swimming, athletics, karate, Judo and others.
Geostrategy
Kuwait and UNHCR agreement to provide $2 million aid to Yemen
It is also meant to provide basic building materials for temporary shelters, to rehabilitate and improve sites' and water sources...
- The agreement is a result of Kuwait’s commitment during the 75th session of the United Nations General Assembly.
- The grant targets at improving living conditions of almost 200,000 internally displaced persons in cities of Yemen.
Business
Binance gets nod to become crypto asset service provider in Bahrain
The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its...
- The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its headquarters in Manama
- The second regulatory approval for Binance has come from Canada, which has approved a money services business license
Geostrategy
UAE residents can recycle used cooking oil at Bee’ah Tandeef machines
Waste management and environment company Bee’ah Tandeef has launched a service that allows people to recycle used cooking oil so...
- Bee’ah Tandeef will turn the waste cooking oil into biodiesel that will be used to run its fleet of waste collection trucks.
- The collection machine also dispenses a new empty bottle whenever a bottle is deposited.
Business
Saudi Central Bank seeks consultation on real estate refinance regulations
The Saudi Central Bank "SAMA" has released a public consultation on rules for regulating the business of real estate refinance...
- The draft can be reached by visiting Public Consultation Platform affiliated with the National Competitiveness Center at https://istitlaa.ncc.gov.sa.
- SAMA has invited the public, specialists, and interested individuals to provide their views and observations on the rules within 30 days.
Economy
Council of Arab Ministers declares Muscat Arab Digital Capital for 2022
Oman's capital Muscat will be the Arab Digital Capital for 2022, the Council of Arab Ministers for Communications and Information...
- Oman had made cyber-security, digital innovation and digital capabilities development focus of its candidacy.
- Oman's communications minister said that the decision reflects the confidence of Arab countries in the digital and legal capabilities of Oman.
Business
Abu Dhabi Global Market to begin Monday-Friday workweek from Jan 1
Abu Dhabi Global Market (ADGM) has announced that it will commence a Monday to Friday working week from 1 January...
- ADGM said the new working week brings Dubai's business community and financial sector closer to global markets and real-time economic and trading activities.
- More than 3700 entities are registered with the ADGM and it has a strong pipeline of growth, said the IFC in a statement.
Infographics
What were the top geopolitical events of 2021?
The year 2021 was, despite the dampened activity due to the Covid-19 pandemic, chock-full of landmark events.
- Globally, the world is still talking about the January 6 incident where supporters of then US President Donald Trump stormed the US Capitol
- Also, the annual climate conference COP26 was held in Glasgow, with observers still divided on whether it was a success or a failure
Business
Jordan bank plans acquisition
Central Bank will acquire the Societe Generale Bank Jordan.
- The acquisition is said to be part of a drive to expand the Central Bank's foothold regionally and domestically
- Its chairman Bassem Al Salem said the bank would also issue $100 million in perpetual bonds to help drive growth
Geostrategy
UAE extends $2m grant to Costa Rica in flood response
The UAE has extended a grant of $2 million to Costa Rica to help the Central American country battle its...
- The money is expected to help Costa Rica build capacity in its National Emergency Commission to address flooding throughout the country
- This comes against the backdrop of two previous aid flights sent by the UAE to Costa Rica carrying critical medical supplies to fight Covid-19
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
Company News
Jahez posts profit of US$14.2m
Business
Latest News
Gulf Navigation repays loan
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
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...
Business
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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.
Business
Video: Transparency is hallmark of TOP CEO Awards as GCC winners get honored
From among a small pool of short-listed CEOs of listed firms, each winner was picked on the basis of growth,...
- For the process not only to be fair and trustworthy, but also to be seen as such, another layer of transparency and accountability was added by roping in iNseaD business school
- Global auditors were also brought in to ensure full transparency in the work