UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
Economy
Oman inflation up by 3.35 percent as transportation, education prices surge
The inflation rate in Oman rose by 3.35 percent in October 2021 compared to October 2020. Local media reports, citing...
- Prices of fish and seafood group rise by 14.82 percent in October compared to Oct. 2020.
- While the prices of restaurants and hotels fell by 0.21 percent, the prices of tobacco, health and communication remained unchanged.
Economy
Omani finance ministry issues government treasury bills worth $194 million
Oman's finance ministry has issued government treasury bills worth Omani Riyal 75 million ($194 million). Treasury Bills are short-term highly...
- Treasury bills are short-term highly secured financial instruments that provide licensed commercial banks the opportunity to invest their surplus funds.
- The bills have a maturity period of 91 days, from 24 November 2021 until 23 February 2022.
Economy
Iraqi PM’s advisor outlines measures to sustain growth
The financial advisor to Iraqi Prime Minister, Madher Muhammad Salih, has stressed the need for beginning a set of measures...
- "What matters today is the accelerated growth in the energy sector, whose contribution to the to GDP constitutes approximately 45%"
- "the growth rate in the gross domestic product exceed the growth rate of the population, which is a positive indicator towards the welfare of society"
Geostrategy
UAE announces updated procedures for entry through border crossings
The UAE has announced updated procedures for citizens of neighboring countries and those living in border areas, who are repeatedly...
- GCC citizens need to present a negative PCR test that does not exceed 14 days.
- The non-vaccinated persons must present a negative PCR test conducted no more than 72 hours before the date of arrival.
Geostrategy
Qatar Fund for Development donates $10m for vaccination in poor countries
Qatar Fund for Development (QFFD) has signed a five-year agreement with Gavi, the Vaccine Alliance, and donated $10 million between...
- The money will be used to increase access to vaccination in low-income countries.
- The Fund will work with the Vaccine Alliance to ensure vaccination for yet-to-be-vaccinated children.
Business
Trade between Dubai and Israel grows to $700m
Trade between Dubai and Israel has grown to $700 million since September 2020 when the Abraham Accords were signed.
- Dubai Government announced on 30th January that the emirate’s trade with Israel in five months, between September 2020-January 2021, had reached $272.26 million
- In June 2021, Israel’s Foreign Minister Yair Lapid told WAM that bilateral trade between his country and the UAE had reached over $675.22 million
Geostrategy
King Abdullah arrives in UAE, accorded warm welcome
King Abdullah of Jordan, accompanied by his wife, Queen Rania Al Abdullah, arrived in the UAE on a state visit.
- He was received at Al Bateen Executive Airport by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
- Among other dignitaries who received the king were Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Mohammed bin Hamad
Business
Ooredoo and Qatar Financial Centre to extend collaboration
Ooredoo and Qatar Financial Centre have signed a partnership agreement to leverage joint experience, expertise, and capabilities to further extend...
- The partnership incorporates a number of initiatives planned for the coming years, with a clear focus on areas of joint interest
- Sectors in which these initiatives will be rolled out include digital innovation, smart cities, fintech, cybersecurity API, cloud solutions
Business
QFZA and Aspiration to bring sustainability services to MENA
Qatar Free Zones Authority (QFZA) and Doha Venture Capital (DVC) have signed an agreement with Aspiration to expand access to...
- The partnership is in line with QFZA's efforts to develop the world’s first net zero free zones
- The agreement is part of a broader collaboration between Aspiration and Qatar Free Zones
Geostrategy
GCC Unified Military Command’s headquarters opens in Riyadh
The opening was also attended by GCC defense ministers, and GCC Secretary General Dr. Nayef Falah Mubarak Al-Hajraf.
- The opening was also attended by GCC defense ministers, and GCC Secretary General Dr. Nayef Falah Mubarak Al-Hajraf
- Al-Hajraf said the opening of the UMC comes as a message of peace and determination to protect the GCC security and stability
Most Read
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-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
Company News
GIS, DIH mull merger
Business
Latest News
JODC posts increase in revenue
Business
UK in talks with Qatar and Norway to import energy
Amid crippling energy shortages, the British government is negotiating with Qatar and Norway to secure new long-term gas contract, according...
Business
Investopia partners discuss investment opportunities in ME region
The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development.
Business
Most Read
Business
Alpha Pharma signs MoU for plasma
It becomes first Saudi firm to enter plasma products' field in GCC region.
- Under the MoU, Biotest AG will provide the knowledge and technical expertise and supply plasma medicines to Saudi until Alpha Pharma becomes capable of producing them.
- Biotest AG will continue to guarantee the supply of plasma-derived products to the kingdom through the supply and distribution agreement with Cigalah Healthcare.
Business
Burjeel IPO raises $300m
VPS Healthcare Holdings will continue to own a 70 per cent stake.
- Oversubscribed 29 times, the total gross demand for the IPO was more than AED32 billion ($8.7 billion).
- Based on the Final Offer Price, Burjeel’s market capitalization upon listing is expected to be approximately AED10.4 billion.
Economy
S&P says UAE non-oil economy posts growth in September
S&P Global's latest data reveals that the UAE has recorded a strong growth in business across the non-oil economy even...
- August had recorded a slightly higher PMI of 56.7, but S&P considers any readings above 50 as growth while those below 50 are marked as contraction
- S&P noted that firms also encountered relatively mild price pressures, as input costs rose only slightly after a renewed fall in August