Modon inks 2 MoUs with Saudi Exports, Local Content Authority
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...
Business
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
Economy
Jordan, Netherlands sign €5m rainwater pact
The project aims to devise proper legislation, and setting up of rainwater harvesting catchment areas as well as smart farms.
- The project comprises 4 main components with the aim of devising proper legislation, and setting up of rainwater harvesting catchment areas as well as smart farms
- In a statement, secretary-general of the water ministry Jihad Mahamid stressed that Jordan is a global "trailblazer" in rainwater harvesting projects
Business
EDB, Jetro ink investment deal
The agreement will promote direct investment in various fields.
- This agreement will highlight Bahrain as an investment hub for Japanese companies
- Bahrain recently ranked first for availability of advanced computer programming talent in ICT
Economy
Oman revenues to rise 6% in 2022, with oil at $50
Oil and gas returns are set to comprise 68 percent of total revenues, against 32 percent for non-oil and gas...
- Preliminary indicators of Oman’s budget this year point to the possibility of achieving the lowest deficit since 2014, despite oil-price fluctuation
- The budget deficit in 2022, estimated on the basis of $50 a barrel, would stand at RO1.5 billion ($3.9 billion)
Economy
Thousands protest in Istanbul against worsening economic situation
More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value...
- More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value of the Turkish lira and the rate of inflation
- The inflation rate, according to official figures, reached 21.31 percent on an annual basis during November in Turkey
Science
Oman okays 3rd Covid-19 vaccine dose for adults
The decision is said to have come at a meeting of Oman’s Supreme Committee tasked with tackling developments resulting from...
- Epidemiological reports and analyses point to a minor increase in positive cases in Oman
- The reports also showed that 93 percent of the target population received at least one dose of Covid-19 vaccines
Business
Saudi Arabia, Egypt sign MoU to enhance anti-corruption cooperation
Saudi Arabia’s Oversight and Anti-Corruption Authority and Egypt’s Administrative Control Authority have joined hands for international cooperation.
- The MoU is expected to facilitate exchanging expertise and information related to corruption crimes
- It is also expected to lead to the development of the institutional capacity of the two countries in this field
Economy
Jordan endorses tourism national strategy as pandemic abates
Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year.
- Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year
- Fayez highlighted the strategy to attract more tourists to the country was developed in partnership with the private sector
Business
Al Tamouh, Al Qudra merger okayed
International Holding Company has formally agreed to the merger.
- The Board of Directors of Al Qudra Holdings has also approved a new foreign ownership limit of 30 percent of outstanding shares
- Previously, only UAE nationals were permitted to own shares in the company
Science
Growing health costs push over half a billion into extreme poverty: WHO-WB
UN Secretary-General António Guterres in his message marking the International Universal Health Coverage Day said that with the third year...
- “The pandemic will not end for any country until it ends for every country," said the UN chief
- The new WHO/World Bank reports warn that financial hardship will become more intense
Sheikha Fatima gets most influential figure in women’s rights award
The conference was organized by the ACSR, under the patronage of the Arab League.
- Sheikha Fatima was named as the most influential figure in women’s rights in 2021 during last month’s Humanitarian and Volunteer Work Conference
- The award was received on behalf of Sheikha Fatima by Noura Al Suwaidi, Secretary-General of the General Women's Union at the Egyptian pavilion in Dubai Expo
Modon inks 2 MoUs with Saudi Exports, Local Content Authority
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...
Business
Company News
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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....
Economy
Saudi Arabia and S. Africa to deepen ties in several fields
The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint...
Geostrategy
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
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Economy
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...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Market Report
Saudi TASI plummets, UAE indices show mixed trends over the week
The UAE stock market followed the trend of other markets worldwide and ended the week on a high note but...
- A 5.2 percent gain in Multiplay Group's share price, a 3.3 percent increase in Aldar Properties' share price pushed the Abu Dhabi index up 0.9 percent on Friday (October 14).
- The Dubai index rose 0.8 percent on Friday (October 14, 2022), led by the gains in the real estate and banking sectors.
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.