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
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
Business
GMIS2021 concludes in UAE with launch of GMIS America
The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city...
- The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city that has rebounded from significant industrial challenges
- The summit explored the role of data and connectivity in shaping the future of supply chains, green manufacturing, sustainable energy, and climate action
Geostrategy
AFESD signs $33m deal to fund water and electricity project in Bahrain
The Arab Fund for Economic and Social Development (AFESD) signed a deal worth KD ten million ($33 million) with Bahrain...
- Bahrain moving ahead with advancing economic development, Finance Minister Sheikh Salman bin Khalifa said.
- The project will contribute to maintaining the service provided by the Electricity and Water Authority.
Geostrategy
Iraqi delegation to visit Geneva, discuss country’s WTO accession
Iraq is making efforts towards joining the World Trade Organization and its Minister of Trade will visit Geneva to discuss...
- The delegation is likely to reach an agreement with European trade ministers.
- Iraq needs to pass laws and legislation on many topics, including the economy and customs, a trade ministry spokesman said.
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
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
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Flyadeal adds A320neo to fleet
Business
Germany pledges 413.9m euros in development aid to Jordan
The Jordanian-German discussions covered a wide range of vital sectors including education, water and renewable energy
Economy
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...
Geostrategy
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...
Business
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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...
- Nykaa will leverage the Apparel Group’s retail infrastructure network to build GCC focused beauty offerings
- Founded by Falguni Nayar in 2012, Nykaa disrupted the Indian beauty market with its content to commerce expertise
Business
Tihama’s stock surges 10%
The firm won the nod from CMA to increase capital by 700%.
- Its shares jumped 9.81 percent, continuing to lead the market’s gainers since early trade at $28
- According to a bourse filing, the marketing firm’s capital will be increased from $13.33 million to $107 million
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...
- According to the Chairman of the board of trustees, the investment in the private university is valued at $169.25 million, which can be increased
- The university will also house an educational and training hospital, which is currently being built, and in its first cohort, the university will enroll 150 students