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
Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
Business
UAE’s first drone delivery service provider breaks two Guinness records
UAE's first licensed drone delivery service provider, BARQ EV, has broken two Guinness World Records-- the longest (13.58km) flight of...
- BARQ EV broke the record for the longest (13.58km) flight of a drone for the delivery service.
- It also broke the longest (18.065km) non-stop return flight for a drone record.
Economy
S&P devises new credit rating scale for Saudi Arabia
S&P Global Ratings has introduced a new national credit rating scale for Saudi Arabia in response to a growing interest...
- The new scheme will help identify the creditworthiness of local loan takers, and comes as Saudi Arabia pursues policies of economic diversification
- S&P said the rating scale will be complementary to the one used globally, with the methodology “generally the same” as the international-focused system
Business
ADNOC to invest $127bn in 2022-2026
The company announces a significant rise in oil and gas reserves.
- ADNOC plans to bring $43 billion back into UAE economy through ICV program.
- ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
Geostrategy
OPEC marks fifth anniversary of historic Vienna Agreement
The Organisation of the Petroleum Exporting Countries (OPEC) marked its 5th anniversary of the historic ‘Vienna Agreement’ on Tuesday. The...
- The agreement led to the Declaration of Cooperation (DoC) between OPEC countries and leading non-OPEC oil-producing nations.
- The Conference, where the pact was signed, saw OPEC Member Countries reinforce their efforts to overcome a then-unprecedented oil market downturn.
Business
dnata named Ground Support Services Provider of the Year for eleventh time
For the 11th time, dnata has been named Ground Support Services Provider of the Year at the 2021 Aviation Business...
- The company offers ground handling and cargo services at over 90 airports in 15 countries.
- As part of infrastructure growth, dnata broke ground on the second phase of the dnata City East project at London Heathrow.
Economy
FCSC documents UAE’s success since discovery of oil in 1950s
In its new report to be published soon, titled "The UAE: Data Documenting the Journey until 2020", the Federal Competitiveness...
- The report highlighted a significant rise in the country’s GDP from AED58.3 billion in 1975 to over AED1.3 trillion in 2020
- The contribution of non-oil sectors to GDP surged from 43 percent in 1975 to 83 percent in 2020
The Archives
The union is advantageous: Sheikh Zayed
The union amongst Emirates is just fine despite being a new experience for us. We did not adopt our neighbors’...
- The union has produced welfare that no soul can ever deny, the Founding Father of the UAE had said.
- We must work hard to upgrade our achievements, fill gaps, complete deficiencies to overcome errors and achieve a stronger union, he had highlighted
Business
GACA, Cisco sign MoU
The MoU will enhance the scope of digital transformation.
- The memorandum will enhance the scope of cooperation in technology and digital transformation in the civil aviation sector
- The GACA is keen to collaborate with international companies specializing in advanced technological fields to keep pace with the latest developments
Business
Emirates, Al Jazeera among 44 GCC brands to win World Branding Awards 2021-2022
A total of 44 GCC brands, which include Emirates, Aljazeera, and ADNOC Distribution, figure in the 2021-2022 World Branding Awards....
- From the GCC region, Saudi Arabian brands win the maximum number of awards, followed by Bahrain.
- Al Jazeera and Ooredoo among the six winning brands from Qatar.
Economy
ATRC awards $10 million in research funding to 53 R&D projects
Abu Dhabi’s Advanced Technology Research Council (ATRC) on Tuesday announced that it has awarded AED40 million ($10 million) in research...
- Grant funding is allocated to entities in eight key sectors such as aerospace and energy.
- The awardees were picked from 370 proposals in ASPIRE Award for Research Excellence and ASPIRE Young Investigator Award.
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
Company News
KHC’s profit vaults by 1,162%
Business
Latest News
Saudi Arabia announces bidders for gypsum ore exploration
Riyadh, Saudi Arabia— Saudi National Gypsum Co. and El-Khayyat Gypsum are among the eight qualified bidders to compete for an...
Business
MEmob+, GeoDB partner to launch a Digital Wallet, Blockchain Protocol
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users...
Business
China’s Central Bank, European Central Bank renew currency swap deal
The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of...
Economy
Most Read
Business
Dubai records over US$435m in realty transactions Monday
Dubai real estate market recorded 445 sales transactions worth US$321 million, in addition to 68 mortgage deals of $121 million...
- Dubai real estate market recorded 445 sales transactions worth $321 million.
- The market witnessed 68 mortgage deals of $121 million and 37 gifts deals amounting to $16 million.
Economy
Saudi Arabia’s Industrial Production Index in August up by 6.8 percent
Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The...
- In August 2022, mining and quarrying grew by 15.5 percent compared to August 2021.
- The manufacturing activity increased by 22 percent compared to the same month of the previous year. The electricity and gas supplies increased by 11.3 percent.
Geostrategy
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...
- A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.
- The Saudi delegation met with Oman's Minister of Transport, Communications and Information Technology Saeed Al-Mawali and Minister of Economy Saeed As-Saqri.