Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
Geostrategy
Geostrategy
$1.03 billion Dubai housing project unveiled by Sheikh Mohammed bin Rashid
A total of 2,000 plots of land will be distributed to Emirati citizens together with 900 ready-made villas under AED3.8...
- Sheikh Mohammed said providing quality housing for the public remained key to the UAE's plans.
- A total of 2,000 plots of land will be distributed to Emirati citizens together with 900 ready-made villas.
Business
EGA to decarbonize its GE gas turbines for achieving UAE’s net-zero goal
Emirates Global Aluminium (EGA) and GE Gas Power have signed an agreement to reduce greenhouse gas emissions from EGA’s existing...
- EGA and GE Gas Power have signed an agreement and together they will work out a roadmap for decarbonization efforts.
- EGA has 33 GE natural gas turbines at Jebel Ali and Al Taweelah, with a total power generation capacity of 5,200 megawatts.
Business
GreenDome of UAE buys out Elite Co. for an unknown sum
GreenDome Investments has bought out Elite Co. from Prama Holdings, in a deal representing one of the region’s largest acquisitions...
- Elite Co., a leading fully integrated land freight and courier solutions providers in the Middle East, has state-of-the-art operations and assets across Oman, Bahrain, Qatar
- GreenDome Investments aims to build an integrated end-to-end logistics services powerhouse to tap into the Middle East
Business
Sophia Lauren names cruise ship MSC Virtuosa at Dubai’s Mina Rashid
Dubai hosted the naming ceremony of a cruise ship, MSC Virtuosa, which was officially named by Hollywood star Sophia Lauren...
- MSC Cruises, the world's third-largest cruise operator, had chosen Dubai for the naming ceremony.
- The ceremony was held at Port Rashid in partnership with DP World and Dubai’s Department of Economy and Tourism.
Business
Iraq stresses balance in energy market ahead of Dec OPEC meeting
Iraq's oil Minister Ihsan Abdul-Jabbar has said that Iraq has worked on a vision that emphasizes the importance of finding...
- Iraq's National Oil Marketing Company says it does not see necessity of any decision on increasing oil production.
- OPEC + has decided to maintain the monthly increase rate of 400,000 barrels in December.
Geostrategy
UAE orders release of prisoners to mark National Day on Dec. 2
The President of the United Arab Emirates Sheikh Khalifa bin Zayed Al Nahyan ordered the release of 870 prisoners on...
- The release was ordered to mark the country’s 50th National Day on Dec. 2
- The prisoners, sentenced for various crimes, will also have their debts and fines paid off
Business
Kuwait to adopt rules allowing players to dedicate more time to games
Director-General of the Kuwaiti Public Authority for Sport Humoud Flaiteh has said that new sports rules will be adopted soon,...
- Distinguished individual athletes representing Kuwaiti national sports teams are also entitled to the same status in line with the imminent regulations.
- The rules are just a step towards the application of professional athleticism in the country, a minister said.
Geostrategy
Turkey and Turkmenistan to scale up bilateral trade to $5bn
Turkey and Turkmenistan have set themselves the target of scaling up the bilateral trade to $5 billion, as two countries...
- The official visit came just weeks after Turkey hosted Berdimuhamedow as an observer at an Organization of Turkic States summit in Istanbul
- The two countries agreed to accelerate their relations in such fields as education, culture, youth, and sports
Videos
Why are global freight rates so high?
As the world looks to pare inflation, it is facing headwinds from the high freight rates currently prevalent all across...
- The global shipping industry suffered like every other industry in 2020 due to the Covid-19 pandemic
- It was expected to bounce back like all of them, and thereby spearhead the global economic recovery
Business
Saudi Arabia hosts region’s biggest cybersecurity event
It will be held at Riyadh Front, one of the entertainment zones for Riyadh Season 2021.
- The @Hack event is considered the biggest cybersecurity conference in both Asia and Africa, and registration is free of charge
- It is expected to be help the SAFCSP achieve the goal of having one programmer out of every 100 Saudis by 2030
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Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
Company News
ESG acquires stake in two firms
Business
Latest News
Sumou signs $144m deal
Business
Saudi Fisheries posts losses
Business
Egypt records rush in arrival of tourists from Europe and US
Cairo, Egypt— Egypt has recorded a huge jump in arrival of tourists from many European countries and the US, as...
Business
Kuwait puts off first parliament session until mid-October
Kuwait City, Kuwait— Kuwait has decided to postpone the convening of the first parliament session after elections to Oct. 18,...
Geostrategy
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Economy
Sharjah tourism body to highlight AI, technology in tourism
Sharjah Commerce and Tourism Development Authority (SCTDA) has confirmed its participation at the 42nd GITEX Technology Week, to be held...
- The authority will showcase new projects and emerging prospects in Artificial Intelligence and Metaverse.
- SCDTA will highlight the innovative use of technologies and their impact on hospitality, tourism and commerce.
Business
Opportunities await Qatari investors in Kazakhstan’s Zhambyl region
Doha--- Qatar Chamber and Kazakhstan's Social-Entrepreneurial Business Corporations have discussed economic and commercial relations besides investment climate and opportunities in...
- Qatar Chamber and Kazakhstan's Social-Entrepreneurial Business Corporations discussed economic and commercial relations.
- Zhambyl Region which is considered a gateway for several international markets such as the Chinese and Russian markets.
Science
DEWA invites proposals for work on sixth phase of solar park
Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the...
- The 900 MW sixth phase of the Solar Park will be implemented using photovoltaic solar panels.
- The production capacity of clean energy has reached about 12.1 percent of Dubai’s total energy mix.