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
$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
Geostrategy
Economy
Qatar approves draft social security and military retirement laws
Qatari cabinet has approved draft social security and military retirement laws aimed at establishing "an effective social protection system for...
- The draft laws call for expanding the scope of insurance coverage to include all citizens working in the public and private sectors.
- The draft laws recommend that the minimum pension shall not be less than QR15,000 ($4,119).
Business
Dubai October realty sales $3.57 billion, highest in eight years
Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, boosted the Dubai real estate market...
- Real estate sales transactions for the 10 months of 2021 worth AED177.44 billion.
- The most sought after areas for villas/townhouses are Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches.
Economy
Global oil reserves release ‘a drop in the ocean’: Goldman Sachs
"On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that...
- "On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that occurred since late October," the bank said in a note
- US West Texas Intermediate crude was down 35 cents to $78.15 a barrel by 0031 GMT on Wednesday
Geostrategy
Qatar fund, FAO join hands for climate action in Somalia
The fund will collaborate with the UN agency to build climate-resilience and take shock-informed anticipatory action.
- Somalia is said to be highly vulnerable to recurrent shocks, with colliding and cumulative effects
- It has been recurrently affected by droughts, flash and riverine flooding, cyclones, locusts, disease outbreaks, and conflict
Economy
Doha workshop promotes Qatarization policy in private sector
The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee.
- The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee
- The ministry would ensure Qatari employees’ rights are protected and that they are not subjected to abuse by their employer
Arts & Culture
Qatar is first MENA country to host POW! WOW! Festival
The POW! WOW! international mural festival is being hosted by Qatar Museums under the umbrella of the JEDARIART initiative.
- This weeklong event featuring 12 international and Qatari artists will be located right outside the Al Saad metro station
- In 2010, the first edition of POW! WOW! was held in Honolulu, Hawaii
Geostrategy
UAE announces $10 billion fund for investments in Turkey
Erdogan greeted Sheikh Mohammed on the ceremonial blue carpet at the presidential palace in Ankara on Wednesday before they went...
- The fund's aim was "to support the Turkish economy and boost bilateral cooperation between the two countries," the official Emirati news agency WAM said
- The main focus of the fund will be on "strategic investments", especially in sectors including energy, health and food, WAM reported
Arts & Culture
Saudi Film Commission to announce strategy on Sunday
The move is believed to be part of the Saudi Vision 2030 strategy, through which the country looks to diversify...
- The Saudi Film Commission will on Sunday announce its strategy to develop the film sector in the country
- It is also expected to support employees and actors in a country where public screening of films was banned for nearly 35 years
Business
EDB lends $190m to SMEs
The loans were given to industrial companies in five priority sectors.
- The Emirates Development Bank has disbursed AED700 million ($190 million) in loans to the UAE’s industrial sector since the beginning of 2021
- The money came from the financing package given by the country’s Ministry of Industry and Advanced Technology
Business
Egypt’s export of LNG touches 1m tons in Q3
Egypt has edged out its Arab neighbors in natural gas exports and exported one million tons of liquefied natural gas...
- The oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic
- A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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
Company News
Latest News
Flyadeal adds A320neo to fleet
Business
Nykaa enters into a strategic alliance with Middle East-based Apparel group
Nykaa will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships to build distinctive GCC focused beauty...
Business
Jordan’s first medical university set to enroll students
The Aqaba Medical Sciences University (AMSU), the first medical university in Jordan, will enroll its first class of medical and...
Business
Most Read
Market Report
ADX adds 5 single stock futures
The move will help develop ADX derivatives market.
- The addition of new contracts has doubled the total number of derivative products on ADX to 10 in less than a year.
- Market participants will be able to trade on leverage and hedge their equity exposure using these contracts.
Business
TAQA to sell Netherlands business
TAQA Energy will sell upstream oil and gas business to Waldorf.
- The financial terms of the deal were not disclosed. TAQA said the sale was made following its 5 July 2022 announcement that it had completed a review of oil and gas business.
- On September 23, TAQA and ADNOC announced the financial closing of their $3.8 billion project to power and decarbonize ADNOC's offshore production operations.
Business
Mubadala Health, G42 to form new firm
Both companies will merge their healthcare businesses.
- Hasan Jasem Al Nowais has been appointed CEO of the new entity and will continue to lead Mubadala Health.
- The new entity will also focus on collaboration with leading researchers and pharmaceutical and health-tech ecosystems.