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
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business
Business
Exports of ACI soar 16% in first 11 months of 2021
Exports of Amman Chamber of Industry (ACI) have soared 16% during the past 11 months of 2021, compared to the...
- Most industrial sectors recorded an increase in exports of their products during the January- November period of 2021
- The United States of America, India, Saudi Arabia and Iraq accounted for the majority of ACI's exports during the past 11 months of 2021
Geostrategy
Iran-Saudi cooperation could set up new regional system: Johns Hopkins Prof
Negotiation is the first and foremost step, but not the last one, Nasr said, noting that there should be considerable...
- Negotiation is the first and foremost step, but not the last one, Nasr said, noting that there should be considerable agreements and outcomes to let the trust grow
- He said that the Biden administration is not willing to start a new hostility in the region, as the US has withdrawn from Afghanistan and is talking about evacuating from Iraq
Economy
Germany gives €21 million to support Palestinian refugees
Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank...
- Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank have continued access to learning in UNRWA schools
- The country will also support the early recovery of Palestine refugees in Gaza affected by the latest Israeli aggression through a €6 million contribution
Business
Saudi prince ends GCC tour with Kuwait
Saudi Arabia and Kuwait pledged to enhance bilateral cooperation and coordination in security, military, and economy.
- The two countries agreed to boost all means of cooperation on international climate policies
- They are expected to do this by implementing the Green Middle East Initiative launched by the Saudi crown prince
Business
UAE and Uzbekistan to ‘prepare government leaders’
The UAE and Uzbekistan have joined hands to launch a four-month ''Uzbek Government Leadership Program'' to prepare a generation of...
- The new program seeks to enable the participants to identify the best skills in specialized fields, through virtual workshops and dialogue sessions
- It will further organize knowledge visits to a number of government departments
Business
UAE elected to Council of International Maritime Organization for third time
The UAE has been re-elected to the Council of the International Maritime Organisation (IMO) in the Category B membership for...
- The results of the election were announced during the 32nd session of the IMO Assembly in London.
- UAE ranks fifth as a key competitive maritime hub and 13th globally in Port Performance and Efficiency Index.
Business
Global Business Forum ASEAN ends, records 1,368 participants
A total of 1,368 delegates from 58 countries – including 250 virtual participants – attended the first edition of the...
- GBF ASEAN was held 8-9 December and organized by Dubai Chamber in partnership with Expo 2020 Dubai under the theme ‘The New Frontiers’.
- The Forum is part of Dubai Chamber’s flagship Global Business Forum series, which was launched in 2013 to explore economic opportunities in Latin America and Africa.
Business
Roborace, ADIO and Mubadala team up for innovation
Abu Dhabi Investment Office (ADIO), Mubadala, and Roborace have signed a Memorandum of Understanding (MoU) to drive innovation in the...
- Roborace will review the opportunity to establish its regional HQ in Abu Dhabi
- ADIO, Mubadala and Roborace are active proponents of the 4th Industrial Revolution
Economy
Iran plans to double exports to neighboring countries in four years
Iran plans to double exports to regional countries within the four-year term of President Ebrahim Raisi, though the target is...
- The target is achievable even within the next two years and a half, said Deputy Foreign Minister for Economic Diplomacy Affairs Mehdi Safari.
- Iran’s exports to Uzbekistan have grown from $120 million to $500 million during the past two months
Business
Jahez to raise $428m through IPO
HSBC is the financial advisor of the Saudi online food delivery startup.
- It has set the price range for its IPO on Nomu Parallel Market between SR750 and SR850 per share
- HSBC Saudi Arabia is the financial advisor, lead bookrunner, lead manager, and stabilization manager for the listing
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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
Company News
Alhokair trims H1 loss by 49%
Business
Latest News
Yellow Door closes $400m equity raise
It plans to deploy $1bn in sustainable energy projects.
Business
ADNIC, JAFZA sign insurance pact
JAFZA is home to over 9000 companies, including Fortune 100 firms.
Business
Most Read
Business
Retal’s stock rises 2.4%
It will build 550 housing units in Riyadh for $161m.
- Retal said in a bourse filing that the project is expected to positively affect the company’s results after the sale begins and the project is completed
- Last month, Retal and National Housing signed another agreement to build 759 housing units in Riyadh
Geostrategy
UAE President Sheikh Mohamed holds talks with President Putin
UAE President Sheikh Mohamed bin Zayed Al Nahyan has called for peace during his meeting with Russian President Vladimir Putin...
- Sheikh Mohamed "emphasised the UAE's policy of supporting peace and stability and called for the continuation of serious consultations to resolve the Ukrainian crisis"
- The two leaders also discussed various aspects of UAE-Russia relations.
Infographics
Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by...
- Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic
- Saudi Arabia’s foreign reserve assets recorded a jump of SR40.8 billion (US$10.88 billion) during the month of September 2022, reaching SR1756.2 billion