DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
Business
ALEC Energy, Stantec sign deal
Business
APICO posts 29% profit increase
Business
China grants Approved Destination Status to Saudi Arabia
RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom. The bilateral agreement, signed...
Geostrategy
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
Economy
Saudi employers can now issue residence, work permits on quarterly basis
Saudi Arabia has announced a new procedure that allows employers to renew residence permits, work permits and financial compensation for...
- The Ministry of Human Resources and Social Development and General Directorate of Passports have started the service.
- The General Directorate of Passports stated that this service can be availed through the Absher Business and Muqeem platforms.
Business
Schneider Electric says electricity use in Iraq rising annually by 10 percent
Consumption of electrical energy is increasing by 10 percent annually in Iraq, which necessitates a robust distribution network, said the...
- The increase in energy requires a robust distribution network and large stations.
- The company said it works in gas and oil in Basra, and there are projects to expand oil discovery.
Business
ESG of UAE buys 70% stake in WFC Holding
Emirates Stallions Group (ESG) has bought a 70 percent stake in WFC Holding as part of its plan to diversify...
- ESG said WFC Holding, which encompasses business process outsourcing and manpower outsourcing services, will complement its mainstream construction and real estate business
- “This acquisition will allow us to expand, manage and control our client’s manpower operations better"
Business
UAE energy ministry intensifies monitoring of liquefied natural gas shipments
The UAE's Ministry of Energy and Infrastructure said on Wednesday that it is intensifying inspections of liquefied natural gas (LNG)...
- LNG cargoes that fall short of the standards pose a threat to the community safety and impinge on the profitability of national companies, a ministry official said.
- The ministry is keen to enhance corporate awareness about the procedures adopted by the UAE to regulate the transportation of oil derivatives.
Economy
Saudi non-oil exports leap up 28% to $18.48bn in Q3
Saudi Arabia recorded a 28.4 percent rise in non-oil exports in the third quarter of 2021 to $18.48 billion thanks...
- The ratio of non-oil exports to imports increased to 48 percent in Q3 2021 from 44 percent in the year-ago period
- Overall, exports increased by 72 percent year-on-year to 276 billion riyals, mainly due to higher oil exports, which rose by 100 billion riyals, or nearly 94 percent
Business
UAE banks waive $313 million in debts of 4,511 Emirati citizens
Debts of 4,511 Emirati citizens, amounting to AED1.15 billion ($313 million), have been waived by 20 banks and financial institutions,...
- 20 banks and financial institutions provided debt relief on the direction of Sheikh Khalifa bin Zayed Al Nahyan.
- First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Abu Dhabi Islamic Bank were among the banks that waived debts.
Business
DXB to welcome 1.8m passengers in next 11 days
According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to...
- According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to December 5
- December 4 is expected to be the busiest day during this period with passenger numbers likely to surpass the 190,000 mark
DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
Business
Company News
Saudi Re GWP hits $245 mn
Business
ALEC Energy, Stantec sign deal
Business
APICO posts 29% profit increase
Business
Latest News
OneConnect enters Abu Dhabi Global Market
Abu Dhabi, UAE - OneConnect Financial Technology launched Saturday its regional operations in Abu Dhabi Global Market, local media reports...
Business
Dubai records weeklong real estate transactions worth $1.92 billion
Dubai, UAE--- A total of 1,809 real estate transactions worth AED7.3 billion ($1.92 billion) were conducted during the week ending...
Business
Dubai to unveil METADAFZ for better metaverse experience
The facility will enable clients globally to conduct meetings via a virtual platform, offering a unique and semi-realistic experience.
Business
Most Read
Geostrategy
UAE to showcase its nuclear energy success in WANO meeting
The Barakah Plant is spearheading the decarbonization of the UAE’s power sector by generating clean electricity and forms key component...
- The meeting is scheduled to be held in Prague, Czech Republic under the theme “One WANO – A Global Commitment to Nuclear Excellence,”
- Due to the Barakah Nuclear Energy Plant, a major strategic energy infrastructure project, the UAE is recognized as a global nuclear energy leader.
Business
Delegations from France, Italy visit Expo Center Sharjah
Delegations from France and Italy have visited the Expo Center Sharjah to discuss ways to strengthen cooperation and exchange expertise...
- The meetings were held on the sidelines of the 50th edition of the Watch & Jewelry Middle East Show.
- The delegations toured the exhibition and looked into ways to work with the center.
Geostrategy
UAE, Egypt discuss cooperation in defense industries
A high-level UAE delegation, on a visit to Egypt, met with senior officials of the Egyptian Ministry of Defense.
- The two sides discussed opportunities for strengthening the overall relations between the UAE and Egypt.
- They discussed promoting partnerships between the defense industry of the two countries.