PIF sets up Tasaru Mobility Investments
The firm will drive strategic investments and partnerships
Business
Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen
RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
Geostrategy
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
Business
Emaar Properties tops Forbes list of 50 Middle East real estate firms
Forbes Middle East also unveiled a ranking of the "Top 10 Construction Companies in MENA 2021".
- Developers from nine countries feature in the Forbes Middle East list. The UAE leads with 17 companies on the list.
- The list was developed based on financials, reputation, company’s age, value of projects completed and projects under construction.
Business
Trade between Mexico and UAE grew by 38 percent in last five years
Mexico-UAE bilateral trade has witnessed an approximate 38 percent upsurge in the past five years (2016-2020), a senior Mexican official...
- The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from $511m in 2016 to $705.1m in 2020.
- Mexico has the capacity to be a strategic partner for it in the agri-food sector, said Martha Delgado Mexican Vice Minister for Multilateral Affairs.
Business
DP World, Congo to develop Banana Port
The Port is likely to save time and cost for the country’s trade.
- The agreement enables DP World to begin construction within 12 months of Congo's first deep-sea port.
- DP World will develop an initial 600-meter quay with an 18m draft, capable of handling the largest vessels in operation.
Geostrategy
UAE honored with UN Public Service Award for government modernization
The UN has awarded the UAE with the United Nations Public Service Award in recognition of its role in government...
- The award also came in recognition of the UAE’s achievements building new models of future governments.
- The award ceremony was attended by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, and Catherine Pollard, Under-Secretary-General.
Geostrategy
Abraham Accords established deep relations in the region: Israel PM
Bennett was speaking on the outcomes of the Abraham Accords Peace Agreement between the UAE and Israel.
- Israel’s PM marked his first visit to the UAE within a very short period after the signing of the Abraham Accords
- Naftali Bennett said that the relations that bind the State of Israel with the United Arab Emirates cover every possible field
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
PIF sets up Tasaru Mobility Investments
The firm will drive strategic investments and partnerships
Business
Company News
Latest News
GCC and UK hold first round of talks on Free Trade Agreement
The British government said the Free Trade Agreement is a major economic opportunity and plays a key role in the...
Economy
Dubai records 65% decline in crime reports during Q3
Dubai, UAE—Dubai Police has recorded a 65 percent drop in the number of criminal reports during the third quarter of...
Geostrategy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
Economy
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Business
UAE, Lulu Money sign pact on digital KYC service
LuLu Exchange – one of UAE’s leading financial service providers, announced that it has signed an agreement with the country's...
- The company has taken this step to streamline customers' experience, perform instant and highly secure face matching verification.
- This will eliminate the need for customers to physically visit a branch for initial KYC verification.
Business
Nasdaq Dubai lists physically backed Bitcoin ETP
21Shares’ ETPs are already listed across 12 exchanges, including SIX Swiss Exchange, Deutsche Börse, EuroNext, BXSwiss, Wiener Börse, Quotrix etc.
- 21Shares’ ETPs are already listed across 12 exchanges, including SIX Swiss Exchange, Deutsche Börse, EuroNext, BXSwiss, Wiener Börse, Quotrix etc
- Following India's decision to tax crypto earnings at 30%, the MENA region has become a hub for crypto companies and major exchanges like FTX and Kraken
Business
Saudi Arabia grants 52 mining licenses in August
Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according...
- Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses
- In line with Saudi Vision 2030 and the National Industrial Development and Logistics Program, the ministry seeks to protect the mining sector and maximize its value