Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
Business
Arts & Culture
UAE’s most awaited falconry event Telwah to begin Dec 28
The most awaited new season of Fazza Championship for Falconry- Telwah, organized by the Hamdan Bin Mohammed Heritage Centre (HHC),...
- Director of Fazza Championships confirms the closing of competition's registration.
- Falconry has a 2000-year-old history and Bedouins of the Arabian Peninsula practiced it for hunting.
Business
KPMG Lower Gulf revenues up, workforce rises by 21 percent
KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021....
- KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021.
- Advisory grew 17 percent, Audit 4 percent and Tax & Legal Services at 8 percent, the firm said.Â
Business
Saudi Arabia Pavilion at Dubai Expo2020 records 2 million visitors
Fireworks and laser lights were launched to announce the new record as pavilion’s employees and public gathered in the ‘opportunities’...
- This is a new record as nearly 30 percent of the total number of visitors to Expo visited the Saudi Pavilion since its official opening.
- The Kingdom's pavilion at Expo 2020 Dubai succeeded in increasing its visitors through its various economic events and cultural activities.
Business
Dubai launches one-stop-shop online portal for timeshare operators
Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to...
- The Timeshare Portal supports the legal framework created by Dubai’s new Timeshare Law.
- It allows allows potential operators to register and submit their applications for timeshare properties and obtain a permit as a licensed timeshare operator.
Economy
UAE and Spain discuss cooperation in renewable energy, water sectors
Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and...
- The two sides also discussed initiatives and programs that consolidate the transition towards a green economy.
- DEWA CEO Saeed Mohammed Al Tayer held a meeting with Iñigo de Palacio, Spain’s Ambassador to the UAE.
Economy
Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was...
- The value of exports amounted to SAR106.2 billion ($28.2 billion) in October 2021, up from SAR55.9 billion in October 2020.
- The share of oil exports in total exports increased from 66.1 percent in October 2020 to 77.6 percent in October 2021.
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
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
Company News
Gulf Navigation repays loan
Business
Latest News
Pure Health to invest US$500m
Business
ENOC opens new station in Al Hamriya Port
This would be the eighth marine service station in the emirate.
Business
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.
Economy
Mubadala acquires stake in Skyborn
Skyborn Renewables is the world’s largest private offshore wind developer.
Business
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Business
Aramex acquires eCommerce enabler MyUS
The acquisition integrates MyUS into Aramex’s business.
- The acquisition paves the way for MyUS’s integration into Aramex’s business, operating as a business unit within the Company’s Courier business segment
- MyUS will retain its brand name and will be complementary to Shop & Ship, Aramex’s subscription based last mile e-Commerce solutions platform
Business
Sipchem posts jump in profit
It recorded a 37% increase in net profit to $800m.
- The company said in a bourse filing that it had recorded a profit of $533 million for the same period a year earlier
- Yet the petrochemical maker's stock declined 1.42 percent to touch $11 at the close of Tuesday
Economy
UAE gross banks’ assets up 0.9% to over $1tn by Aug end
The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the...
- The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the end of August
- The Money Supply aggregate M3 also rose by 2.4 percent from $535 billion at July end to $549 billion at August end