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
Relations with Iran will be strong, says Saudi envoy
TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries...
Geostrategy
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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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
Company News
GMC, Fix Network sign agreement
Business
SRC, Riyad Bank sign $133m deal
Business
Latest News
Saudi Arabia, China sign agreement on air transport
The agreement was signed between the President of the Civil Aviation Authority of Saudi Arabia Abdulaziz bin Abdullah Al-Dialej and...
Economy
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Economy
OIC new mechanism to settle investment disputes
The OIC, a 57 member body, has been working on a mechanism for the investment dispute redressal among member states...
- The OIC, a 57 member body, has been working on a mechanism for the investment dispute redressal among member states for years now
- The four-day meeting in Casablanca is set to establish the permanent mechanism to encourage, protect and guarantee investment of member states
Geostrategy
US to impose ‘further costs’ on Iran over protests crackdown
Widespread street demonstrations sparked by the death of Mahsa Amini, 22, who died following her detention by morality police for...
- Iran has been under crippling US economic sanctions largely related to its controversial nuclear program which Tehran insists has only civilian purposes
- Biden said that he was concerned about reports of the violent crackdown on peaceful protestors in Iran, including students and women
Economy
World Bank okays $400m project to help Egypt decarbonise freight railway
The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub.
- The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub
- It will significantly contribute to Egypt's 2050 Climate Change plan, given the expected reductions in greenhouse gas emissions