ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...
Business
Economy
UAE, Israel in talks to sign comprehensive economic pact
The announcement was made via video conferencing on Tuesday by Abdullah bin Touq Al Marri and Orna Barbivai, Israeli Minister...
- The partnership between the two countries will reinforce their economic ties, promote trade, increase new investment opportunities for companies
- Trade exchange between the two countries from the signing of the peace accord in September 2020 until the end of September 2021 has been around AED3.5 billion
Economy
DFM incentivizes IPOs from companies in key growth sectors
The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s Main Market and...
- The new program is in line with the efforts to strengthen Dubai’s position as global capital markets hub
- The DFM seeks to attract companies from sectors such as Technology, Transport & Logistics, Healthcare, Pharmaceutical, Manufacturing, and Agri-Tech
Business
Dubai launches five-year multi-entry visa for MNCs
The visa will enable MNC employees to participate in events, conferences, training courses, exhibitions and similar activities hosted in the...
- The visa allows them to stay in the UAE for 90 days, with the option of extending their stay for another 90 days.
- Between January and September 2021, Dubai received around 3.85 million international visitors.
Geostrategy
Iran enacts population law criticized by UN experts
The law renders reproductive screening optional, imposes restrictions on abortion and limits access to contraception
- It also tasks public broadcasters with producing content that encourages women to have more children and denounces celibacy or abortion.
- About 46.6 percent of Iran's population of 83 million is under 30 years old.
Business
Monshaat attends franchise forum to promote Saudi brands globally
Saudi Arabia's General Authority for Small and Medium Enterprises (Monshaat), represented by the Commercial Franchise Center (Emtiyaz), is participating at...
- The two-day International Franchise Forum in Dubai will provide 10 Saudi brands opportunity for expansion.
- Emtiyaz, which represents Monshaat, is tasked with supporting and empowering local brands.
Business
Sanad secures $100m loan from FAB
The revolving credit facility deal was signed during Dubai Airshow.
- Sanad said its relationship with FAB is now 10 years old and the two companies have seen over $950 million worth of agreements.
- The various financings have been extended in support of Sanad’s global spare engine leasing and component access portfolios.
Business
CBK plans $794 million bonds
The issue's maturity period is six months, with a return rate of 1.250 percent.
- The issue's maturity period is six months, with a return rate of 1.250 percent
- The CBK had issued bonds and tawarruq worth 160 million Kuwaiti Dinars at the beginning of this month, with a return rate of 1.125 percent for a six-month maturity
Business
Iraq to scale up oil exports to 3.4 million barrels a day in Q1 2022
Iraq is expected to scale up its oil exports to 3.4 million barrels per day in the first quarter of...
- The minister was speaking at the the Defense University for Higher Military Studies, stressing the role of the oil and gas industry in supporting the national economy
- "Oil sector companies are working on a planned strategy to develop oil fields, optimize gas investment and use modern technology in manufacturing and refining"
Business
Emirates to retrofit 105 aircraft with Premium Economy product from 2022
Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with...
- The aircraft will be retrofitted at Emirates Engineering Centre in Dubai.
- The airline is also considering installing a new Business Class product on its Boeing 777 aircraft, with customized seats in a 1-2-1 layout.
Business
Saudi Arabia stares at another round of inflation
The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As...
- Saudi Central Bank cites jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices
- On a quarterly basis, however, the country’s inflation in this year’s last quarter will be relatively stable, says SAMA
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business
Company News
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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
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
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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
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.