Russia ready to discuss Turkey’s idea about guarantors for Israel, Palestine, says Lavrov
PYONGYANG, NORTH KOREA - Russia is ready to discuss and consider Turkey’s initiative to establish a guarantor system in the...
Geostrategy
Business
UAE keen to expand economic and investment relations with India: Al Zeyoudi
UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has said the trade partnership with India...
- India is the UAE’s second-largest trade partner, accounting for nine percent of the UAE’s overall global trade and 13 percent of the UAE's non-oil exports.
- Some 13 percent of India’s exports are re-exported through the UAE to the Gulf Cooperation Council, Iran, Iraq and some Central Asian countries.
Business
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.
- The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
- The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Science
NYU Abu Dhabi’s Water Research Center partners with EWEC
The center serves as an interdisciplinary innovation hub for research in water desalination and membrane technology innovation.
- The center serves as an interdisciplinary innovation hub for research in water desalination and membrane technology innovation
- The new partnership will engage NYUAD students to contribute to the continued advancement of water research, and educate them on water management
Business
CBUAE enhances framework for real estate exposure of banks
The new methodology also introduces measurement of these exposures, based on credit risk-weighted assets using the CBUAE’s capital adequacy standards.
- The comprehensive standards require banks to review and improve their internal policies to enhance sound underwriting, valuation and general risk management.
- Banks with higher risk-weighted real estate exposure in their portfolios will be subject to a more extensive supervisory review of their underwriting and risk management .
Business
$44.92m EDB, FAB loan for Lamprell
The facility is in line with EDB's strategy to support large corporates.
- The bespoke credit facility additionally benefited from the comprehensive trade credit solutions provided by Etihad Credit Insurance (ECI).
- The facility will be utilized to support Lamprell in delivering two new build jack-up rigs for IMI which are currently under construction.
Business
IHC acquires stake in Al Qudra
The acquisition is part of Al Qudra's diversification strategy.
- Al Qudra Holding, founded in 2005, has a large portfolio of customers including Manarah Bay, a multi-usage project covering about 52,000 square meters in Abu Dhabi.
- The frim operates as an investment holding company and focuses its investments and strategic partnerships in sectors such as oil and gas.
Business
Dubai World Trade Center to become regulator for virtual assets, crypto
The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies.
- The announcement follows the efforts to further develop Dubai virtual assets and markets, includes creating a framework for financial products.
- The Dubai World Trade Centre will collaborate with the private sector and relevant entities in Dubai to create an attractive environment for the sector.
Infographics
Where do Arab countries stand, according to GDP?
The most common way to quantify the economic health of a country is by calculating its gross domestic product (GDP).
- GDP is the total market value of all the goods and services produced within a country in a specific time period
- It is usually calculated on an annual basis, with the time period corresponding to the fiscal year rather than the calendar year
Arts & Culture
UAE Declaration of Arabic Language launched by Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, on Tuesday launched the UAE Declaration of Arabic Language...
- The declaration aims to draw out a unified roadmap for various institutions in Arab countries.
- The declaration was introduced in the presence of the Arab Ministers of Culture to mark the World Arabic Language Day
Geostrategy
Above 2.5 million passengers used Doha Metro during Arab Cup in Qatar
More than 2.5 million passengers used Doha Metro during that Arab Cup hosted by Qatar from Nov 30 to Dec...
- Qatari media reports said Doha Metro operated 50,000 trips during the tournament.
- Except on Friday, Doha Metro ran for 21 hours a day throughout the week.
Company News
Latest News
TAQA to buy AlMansoori
Business
Aldar acquires Spark Security
Business
CBUAE issues commemorative coins on Tawazun’s 30th anniversary
The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative...
Economy
Aramco to build fabrication yards
The yards will more than triple Saudi offshore fabrication capacity.
Business
Saudi economy is the fastest growing among G-20 in 2022: report
The announcement comes after the IMF affirmed that the Kingdom's economic prospects are positive in the short and medium term.
Economy
Most Read
Business
Abu Dhabi Chamber to launch new digital platform
Abu Dhabi Chamber of Commerce and Industry (ADCCI) will launch a new platform for Abu Dhabi's business community in order...
- The Business Matchmaking Platform, which is currently going through the development phase, will enhance the experience of Abu Dhabi’s business community
- Members of Abu Dhabi Chamber will also be able to have a comprehensive overview of upcoming events and register for them, as well as access the latest data and insights
Geostrategy
Arab world rallies around Saudi Arabia over oil cut decision
Rallying behind Saudi Arabia, several Arab states have voiced their support for Saudi Arabia in the face of harsh criticism...
- The UAE said that the OPEC+ decision was vote-based collective
- Toeing the UAE’s line, Bahrain has expressed solidarity with Saudi Arabia, rejecting statements pushing towards politicizing OPEC+ decision on oil production cuts
Economy
Visa-free travel between UAE, Japan starting Nov 1
Holders of UAE passports can stay in Japan for up to 30 days during each visit for the purpose of...
- Holders of UAE passports can stay in Japan for up to 30 days during each visit for the purpose of tourism or work
- The UAE is Japan's tenth largest trading partner in the world and is home to more than 340 Japanese companies operating in various sectors