Saudi Arabia’s Tabuk region produces over 28m roses annually
TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
Business
Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...
Geostrategy
Business
Abu Dhabi to host new Amazon fulfillment center from 2024
Abu Dhabi will host a new Amazon fulfillment center, expected to be the most technologically advanced in the region. It...
- E-commerce giant says the centre will speed up delivery times and support a range of sellers
- The new centre is part of collaboration between Amazon and Abu Dhabi Investment Office’s program to attract investment and create job opportunities
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
Saudi Arabia’s Tabuk region produces over 28m roses annually
TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
Business
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EGA H1 2022 profit $1.61bn
Business
French energy giant offers pay talks in bid to end fuel strike
Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...
Business
Germany investigates ‘sabotage’ on its rail framework
Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and...
Geostrategy
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Business
Dubai Airport Free Zone non-oil trade up 36 percent in 2021
Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose...
- DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations across all sectors.
- Machinery, equipment, and appliances were the main contributor to DAFZ’s trade in 2021, making up 74.6 percent of exports.
Geostrategy
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...
- Qatar relies heavily on Jordanian market for vegetables and fruits.
- Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
Videos
Asia green business market to hit $5 trillion by 2030
More than 15 countries and 670 companies in Asia have set (or are committed to setting) emission-reduction targets, thereby creating...
- Around $3.1 trn will need to be spent per year on average on physical assets for energy and land-use systems from 2020 to 2050.
- Vehicle electrification could contribute 10 to 15 percent of the abatement potential needed by 2050, lowering emissions by roughly six GtCO2e.