DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
Business
China grants Approved Destination Status to Saudi Arabia
RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom. The bilateral agreement, signed...
Geostrategy
Business
Oman’s economic city Khazaen signs two pacts to carry out vital projects
Khazaen, Oman's fully integrated economic city, has signed two agreements worth more than Omani Riyal 1.5 million ($3.8 million) with...
- One of the agreements signed with an Omani company named Western Door Trading to set up a multipurpose logistics center.
- The second agreement provides for the setting up of a processing unit and a warehouse with a capacity 20 tons a day.
Geostrategy
No presence of American combat forces in Iraq, says the White House
The remaining coalition forces in Iraq will be present at the invitation of the government only to provide advice, assistance...
- The Assistant to the President Brett McGurk says coalition forces will be present at the invitation of the government for various purposes.
- Iraq's NSA Qassim Al-Araji said that relationship with the international coalition will continue in the field of training, advice and empowerment
Geostrategy
Qatar Red Crescent Society and Jordan to treat Syrian refugees, underprivileged
Hammadi talked about Boosting joint efforts in terms of mobilizing resources and support in Qatar to contribute to the treatment...
- Princess Ghida thanked Qatar and expressed her appreciation for the QRCS for its belief in KHCF and KHCC's missions
- Sheikh Saud bin Nasser bin Jassim Al Thani, said this cooperation between both the parties reflects a humanitarian duty
Business
12 Ajman banks sign pact with Department of Finance for easy payment plan
The Ajman’s Department of Finance has signed agreements with 12 local banks to offer an "easy payment plan", which allows...
- The plan allows payments for government service fees through installments through Ajman Pay platform.
- Conditions and steps to apply for easy payment plan are defined by the participating banks.
Geostrategy
Cooperation, security remain focus of GCC summit
The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity.
- The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity
- The 42nd session of the Supreme Council of the GCC countries, chaired by Saudi Arabia, seeks to strengthen the process of cooperation
Business
Mubadala and Bahrain’s sovereign wealth fund Mumtalakat sign pact
Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a...
- The two entities will exchange knowledge and best practices to enhance investment and operational capabilities.
- Our partnership with Mubadala will strengthen our collective operational capacity and bolster our historical ties.
Economy
UAE ranks first in Arab world, 11th globally in Global Knowledge Index
Qatar was at the 38th place, Saudi Arabia at 40, Kuwait (48), Oman (52), and Bahrain (55) in the Global...
- Other GCC countries -- including Qatar , Saudi Arabia, Kuwait , Oman and Bahrain -- also figured prominently in the index
- Switzerland ranks first globally, followed by Sweden, the US, Finland and the Netherlands
Economy
Jordan, USAID sign two agreements worth $597m
Jordan Minister of Planning and International Cooperation Nasser Shraideh and USAID Jordan Mission Director Sherry Carlin signed the agreements.
- Jordan Minister of Planning and International Cooperation Nasser Shraideh and USAID Jordan Mission Director Sherry Carlin signed the agreements
- Under one of the agreements, the US government will transfer the second and final installment, of $245 million from its $845 million US cash grant to the Kingdom in 2021
Infographics
Saudi Arabia, UAE fashion industry set for boom
The UAE and Saudi Arabia seem poised to see their respective fashion sectors double their revenues in the near future.
- The ecommerce boom has led to more and more people buying apparel and accessories online
- They are doing so especially after they check reviews and sustainability factors of their intended purchase
Economy
CBUAE mulls Emiratisation of leading banking, insurance professions
The proposal was mooted at the apex bank's fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy...
- The board approved the CBUAE's projected budget for the year 2022
- The bank also approved criteria of the UAE banks' loan exposure to realty sector
Most Read
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
DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
Business
Company News
Latest News
flydubai, Smartwings sign agreement
flydubai will wet lease four Next-Generation Boeing 737-800 aircraft.
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
Business
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Business
QatarEnergy becomes 100 percent owner of Siraj Energy joint venture
QatarEnergy bought 49 percent of Qatar Electricity and Water Company’s share in Siraj Energy.
- Siraj Energy was established in 2017 to finance, build, operate, and maintain solar power facilities, and sell electricity generated from solar power, within Qatar.
- Siraj Energy has a 60 percent interest in Siraj (1) which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project.
Business
Dubai records real estate deals worth $571 million on Thursday
Dubai, UAE---Dubai real estate market recorded realty transactions worth AED2.1 billion ($571 million) on Thursday, Dubai Land Department said. The...
- The transactions included 401 sales deals worth AED1.69 billion, in addition to 77 mortgage deals of AED324.64 million.
- The sales included 373 villas and apartments worth AED687.26 million, and 28 land plots worth AED1 billion.
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
- V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati economy
- A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties