IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
Geostrategy
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
Business
Business
ENOC Group and Air Chateau sign pact
Under the agreement, ENOC will fuel up to 30 helicopters of Air Chateau.
- Air Chateau offers charter and transportation services to tourists, high net worth individuals and air ambulances.
- ENOC Aviation's current supply network spans over 200 airports across 21 countries.
Business
Nayifat Finance to trade on Tadawul
Nayifat Finance Company (NFC) will start trading on Tadawul on November 22, according to a Saudi Exchange filing.
- The stock will have +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits
- These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards
Economy
UN warns high shipping cost to spike global inflation by 1.5%
The UN Conference on Trade and Development (UNCTAD) has warned that the rising shipping prices could spike global inflation by...
- The current price to ship a 40-foot container unit from China to the US is now 348 percent higher than the pre-pandemic average
- The UN calculates that a global drive to vaccinate people against coronavirus can go a long way to ameliorate the current shipping crisis
Economy
$1.6bn Saudi initiatives to boost local manufacturing
Saudi Arabia has unveiled two initiatives to help the country boost its production and manufacturing.
- The National Industrial Development and Logistics Program has launched the initiatives along with the Riyad Bank
- The two schemes are called "We finance, you manufacture" and "We invest, you manufacture"
Business
Experts discuss market opportunities at DMCC Dubai Precious Metals Conference
The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities.
- The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities
- The session, held under the title ‘Gold versus Bitcoin: competition or coexistence?’, highlighted bitcoin’s growing status as ‘digital gold’
Geostrategy
Saudi Arabia, Bahrain activate e-connection for health passport
The two countries signed a Memorandum of Understanding in this regard in Riyadh on Thursday, November 18.
- The signing of the MoU is expected to enable the integration of the health passport with the Saudi Tawakkalna and BeAware Bahrain apps
- It will therefore facilitate the movement of passengers between the two countries through the King Fahd Causeway
Geostrategy
UAE, Israel sign MoU in educational affairs
The MoU was signed under the framework of the Abraham Accords Peace Agreement signed between the UAE and Israel last...
- The MoU was signed under the framework of the Abraham Accords Peace Agreement signed between the UAE and Israel last year.
- The two sides also addressed their ongoing bilateral ties in the education sector and other areas of cooperation
Business
Airbus predicts 3,020 ME orders
Airbus says the Middle East will need more than 3,000 aircraft by 2040.
- It made the prediction in its 2021 Airbus Global Market Forecast or GMF
- According to the forecast, the Middle-East region will need 3,020 new passenger and freight aircraft deliveries by 2040
Geostrategy
Updated: US indicts Iranians for ‘meddling’ during 2020 elections
The US Justice Department has indicted two Iranians for allegedly taking part in an online "disinformation and threat" campaign during...
- The US Treasury imposes sanctions on the two men and three others who ran the cybersecurity company they worked for
- Kazemi and Kashian allegedly obtained confidential voter information and sent menacing emails
Business
Orders placed for 408 aircraft at Dubai Air Show, biggest by Indigo Partners
A total of 408 aircraft (269 firm orders and 139 commitments) were ordered at the Dubai Airshow, the first major...
- The orders covered the full range of commercial aircraft, including a first commitment for the A350F.
- Air Lease Corporation signed a commitment for 111 aircraft, covering the full range of Airbus families.
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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
IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
Geostrategy
Company News
Latest News
GCC needs US$60-85bn for sustainable waste management: study
It will take $60-85 billion for the GCC to put in place a modern recycling system for waste management, according...
Business
Qatar ports TEU records one percent growth in September
Doha, Qatar - The Qatar Ports Management Company (Mwani Qatar) said it received 123,000 TEUs in September- a one percent...
Business
Qatar wealthiest, UAE happiest in Arab world
The world's richest countries have the highest happiness scores, which probably explains why Lebanon, facing its worst-ever economic crisis, ranks...
Infographics
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Geostrategy
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
- The meeting was held in Indonesia and sought to discuss key global economic issues.
- G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
Economy
UAE Ministry of Emiratization launches Customer First forum
UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
- The Customer First Forum aims to take feedback of all parties on the labor market legislations.
- It also seeks to enhance direct communications between the ministry and the private sector.
Business
DP World launches GBC to support growth plans of large companies
Dubai, UAE--- DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies...
- The GBC can provide business set-up and licensing -or large companies that wish to set up a limited liability entity or branch in Dubai.
- A GBC licence permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise.