SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business
IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
Economy
Business
Aldar-ADQ grp to buy SODIC share
The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy.
- The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy
- The consortium’s objective is to advance SODIC’s position as a leading national developer by scale and reputation
Geostrategy
Strategies to enhance Dubai’s security ecosystem reviewed
Digital Dubai is developing the latest strategies and initiatives to enhance the efficiency of the emirate’s integrated security ecosystem.
- Digital Dubai is developing the latest strategies and initiatives to enhance the efficiency of the emirate’s integrated security ecosystem
- Hamad Al Mansoori, Director General of Digital Dubai, said they are working to make the most of big data and tap its potential
Geostrategy
OPEC Fund announces $352m for global development operations
The OPEC Fund for International Development has approved $352 million for sustainable development operations globally at the organization’s 178th Session...
- Members of the Governing Board also reviewed several milestones achieved as part of the OPEC Fund Strategic Framework 2030, including inaugural credit ratings.
- The Strategic Framework 2030 is designed to diversify the OPEC Fund’s financial resources and deliver greater development impact
Business
Etihad launches WorldPass for frequent travelers from UAE
Etihad Airways has announced a new travel solution aimed at corporate and frequent travelers booking from the UAE, said local...
- Etihad WorldPass is available for travel between the UAE and select destinations including the GCC, India, Pakistan, UK and Ireland.
- WorldPass guests can have unlimited free rebooking and cancellation, and the booking portfolio can be self-serviced and self-managed.
Arts & Culture
Google celebrates Bahrain’s national day with a dedicated animated doodle
The modern state of Bahrain was founded by Ahmed Al Fateh in 1783 and on 16 December 1971, Isa Bin...
- Bahrain was founded by Ahmed Al Fateh in 1783 and on 16 December 1971, Isa Bin Salman Al Khalifa became the first emir of the country, marking the national day.
- Traditionally, Bahrain’s historic achievements and culture are celebrated over two days with entertainment such as magic and laser shows.
Business
Dubai South and Huawei ink deal
The pact entails building smart transportation ecosystem.
- They will also explore innovative solutions to support a mixed-traffic, intelligent transport system for autonomous and driver-assisted vehicles.
- The two entities will also develop and promote unified international cybersecurity standards to safeguard digital transformation projects.
Economy
Sheikh Mohammed launches largest tourism campaign ‘World’s Coolest Winter’
UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched the second season of the World’s Coolest...
- The campaign highlights the diversity of the UAE’s tourism and recreational attractions.
- With an occupancy rate of 64 percent, the UAE outperformed the top 10 tourist destinations in the world.
Economy
Nearly 14,000 Bahraini nationals invested in UAE companies in 2020
A total of 13, 978 Bahraini nationals have invested in UAE public shareholding companies in 2020 and 331 licenses for...
- Trade between the UAE and Bahrain in 2020 was valued at AED20.1 billion and more Bahraini nationals were entering the Emirates real estate market.
- In 2020, the value of real estate deals signed by Bahraini citizens in the UAE reached AED228 million.
Geostrategy
UNHCR, UNICEF hail Korea’s aid for refugee rehab programs in Iran
South Korea's $2.5 million aid for programs supporting Afghan refugees in Iran has been hailed by the UN High Commissioner...
- South Korea's has announced $2.5 million in aid recently and its total aid in the past seven years for Afghan refugees totals $30 million.
- It is estimated that up to 300,000 Afghan asylum-seekers have fled to Iran this year alone in search of safety.
Economy
Jordan to engage private sector in enacting investment laws
Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the...
- Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the most developed international laws in this field
- To facilitate transactions, Amro said, the ministry seeks to be the core reference for investment and the sole authority to follow up on investor issues
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SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business
Company News
Latest News
Ajlan signs deals worth $7bn
Business
Finance Ministers of UAE, India discuss trade, economic ties
UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman...
Geostrategy
Reliable Engineering opens plant
The production unit was inaugurated at Hamriyah Free Zone in Sharjah.
Business
Dubai Customs issues authorization certificates to free zone companies
Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments...
Economy
Most Read
Business
Saudi to build world-class mining business in cooperation with South Africa
Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said...
- Saudi Arabia expects its mineral wealth to exceed $1.3 trillion as it plans to triple spending on exploration of metals over the next three years.
- Saudi deputy minister Khalid bin Saleh says the two countries will focus on quality of the projects.
Economy
UAE’s minister is new Chairman of WBG-IMF committee
During his two-year tenure, the minister will work with the committee that include ministers, and the Board of Governors of...
- The committee aims to achieve international cooperation and consensus on issues related to development
- Development Committee is a ministerial-level forum that represents the member countries of the WB and IMF
Economy
IMF, Egypt finalize work to reach staff-level agreement soon
Washington, US-- International Monetary Fund and Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very...
- IMF has said the implementation of Egypt's comprehensive structural reform agenda would gradually enhance the competitiveness of the economy.
- The two sides are still in the process of determining the Egyptian exchange rate policies.