Neighboring nations fear repercussions of Gaza conflict
As Israel advises around 1.1 million residents of northern Gaza Strip to evacuate, concerns grow about the potential ripple effects...
Geostrategy
UAE invests $36bn in renewable energy projects in 2022, says ADDED Â chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
Economy
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
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.
Neighboring nations fear repercussions of Gaza conflict
As Israel advises around 1.1 million residents of northern Gaza Strip to evacuate, concerns grow about the potential ripple effects...
Geostrategy
Company News
Latest News
UAE offers low-risk business climate
Infographics
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
Abu Dhabi Foreign Experts Court examines 200 cases
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the...
Economy
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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.
Economy
Bahrain calls for adoption of new solutions to spur growth
Washington, US—Bahrain has called for adoption of innovative solutions to encourage economic growth and sustainable development goals for all countries....
- The country's Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, has stressed the importance of strengthening international cooperation
- The minister took part in the meeting of the World Bank Development Committee, within the annual meetings of the Board of Governors of the World Bank and the IMF in Washington