Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
Business
Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Business
AIQ and Baker Hughes to develop solutions for oil industry
AIQ and Baker Hughes have entered into an agreement to develop advanced analytics solutions for the global oil and gas...
- The initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories
- The project supports ADNOC’s plans to efficiently ramp up drilling activities as it boosts its crude production capacity to 5 million barrels per day by 2030
Business
Etisalat to acquire elGrocer DMCC
The acquisition will support the telecom giant's digital ambitions.
- This partnership will empower consumers, enhance engagement, and drive diversification of our business, said Etisalat.
- UAE is rated as one of the most advanced countries for online shopping and eCommerce market in the MENA region.
Geostrategy
Qatar and Egypt sign pacts to supply Gaza fuel and building materials: Minister
Qatar and Egypt have signed agreements to supply fuel and basic building materials for Gaza Strip, Qatar's Minister of State...
- These cooperative efforts would contribute to improving living conditions in the occupied territory, said Qatari minister Sultan bin Saad Al Muraikhi.
- Qatar has provided more than $1.5 billion for health, education, housing, industry and other sectors in Gaza.
Geostrategy
Saudi statistical authority launches a unified channel for data sharing
Saudi Arabia's General Authority for Statistics on Thursday launched Statistical Database, a unified channel where all data produced by the...
- The platform uses advanced search techniques with advanced features such as (API) technology to provide an interactive experience.
- It also allows different groups of users to access the data and statistics provided by GASTAT and view its descriptions as well.
Economy
Joblessness in Egypt grows 7.5% to 2.2m in 3Q
The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of...
- According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals
- The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market
Interview
‘GCC may avoid NMCs, Abraajs with robust norms’
The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE,...
- Strong corporate governance framework is an integral part of ensuring clean flow of money and the GCC region is yet to make some improvements, says Khalid Abdulla-Janahi
- The companies in the region should have independent board members and directors with fixed term role to ensure high level of corporate governance, the Vision 3 chief adds
Business
EDGE and Israeli firm to set up electro-optics center in UAE
EDGE and Israel Aerospace Industries (IAI) have agreed to establish a maintenance center for a selection of IAI's systems in...
- Omar Al Zaabi, Senior Vice President Head of Program Acquisition at EDGE and Boaz Levy, President and CEO of IAI, signed the agreement during a ceremony at the 2021 Dubai Airshow
- In addition to maintenance, the centre will advance local marketing of these systems
Business
ADNOC Logistics and AD Ports to build a port and logistics facility at TA’ZIZ
ADNOC Logistics & Services (ADNOC L&S) and AD Ports Group have signed an agreement to develop a new port and...
- The facility will be a critical part of the supply chain for feedstocks and will store and load final products for export.
- The partners will select an international operator to enter into a new joint venture and contribute to the development of the new port.
Business
Airfares drop sharply in Kuwait after the opening of International Airport
Airfares to some destinations from Kuwait have dropped by 50 to 200 percent after operations at Kuwait International Airport resumed...
- Airfares on some destinations such as Turkey, Egypt, France, and Germany dropped by more than 50 percent .
- Cost of travel to the UAE, Britain, India, and the Philippines have remained high compared to the airfares before the outbreak of the Covid-19 pandemic.
Business
Saudi Arabia sets up $187m solar panel factory in Tabuk
Saudi Arabia has set up a $186.6 million worth solar panel factory in the Tabuk Industrial City to cater to...
- Spread over more than 27,000 square meters, the factory will have an estimated production capacity of 1.2 gigawatts
- The new Tabuk facility uses automated machines for its production, and employs latest international technologies in the field
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
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
Business
Company News
Latest News
PIF’s green bonds to shore up market, says LSE official
The fund has hired a large group of banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche...
Business
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...
Economy
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...
Geostrategy
Most Read
Business
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...
- This investment would cover design, collection, sorting, and recycling investment across these four key waste streams
- The GCC generates between 105 and 130 million tons of waste per annum, primarily from Municipal Solid Waste (MSW), Construction and Demolition Waste (CDW), and agricultural waste
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...
- Mwani Qatar stated it received 276 ships in September, registering a three percent increase.
- It said cars and equipment recorded 6048 units, and the number of livestock recorded was 6499.
Infographics
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...
- The World Happiness Report 2022 has ranked Finland as the happiest and Afghanistan as the unhappiest in the world.
- Happiness has now become a key metric to track the performance of countries and corporate offices as well.