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
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA: The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
Business
Economy
Dubai sets up AED1bn fund to support startups
The Fund, an initiative of the Dubai Securities and Exchange Higher Committee, will focus on supporting efforts to implement the...
- The Fund seeks to fill a funding gap in the MENA venture capital (VC) market by investing in technology startups in the early stages of growth
- As part of its mandate, the Fund will invest in a range of key initiatives, including Dubai Future Accelerators, DIFC FinTech Hive and Venture Builder Studios
Business
Saudi EXIM inks $118m deals
The deals were signed at the Saudi Trade Finance Summit.
- The first deal was with the Saudi British Bank with a value of SAR238 million (around $63.5 million)
- The other two were credit-line agreements with Jordan’s Capital Bank and the National Bank of Iraq for $55 million
Business
Emirates expands cargo capacity with AED3.6 bn investment
Emirates SkyCargo was the launch customer for the Boeing 777-F and the aircraft has been at the heart of the...
- Emirates SkyCargo has signed a purchase agreement with Boeing for two new Boeing 777-F aircraft,
- Over the years, the Boeing 777 freighter has been a critical pillar of Emirates SkyCargo operations
Business
UAE updates labor law for private sector
The new decree-law is expected to, among other things, regulate job contracts and give workers more rights.
- The new law, meant for workers in the private sector, will come into effect from February 2 next year
- It is said to embody a host of measures to ensure a safe, healthy, and business-conducive environment for all employees in the sector
Business
Pact signed to position Dubai Airshow as platform for space sector investors
Dubai Airshow and the UAE Space Agency will collaborate to position Dubai Airshow as a key platform for companies and...
- Dubai Airshow and UAE Space Agency sign MoU to coordinate strategies for enhancing space sector's presence in future events.
- This year’s Dubai Airshow is the biggest edition of the event since it began in 1989, with around 85,000 visitors attending across the week.
Expo 2020 DUBAI
Expo opportunity to boost UAE-Monaco cooperation: Prince Albert II
Prince of Monaco, Albert II has called Expo 2020 Dubai a "great opportunity" to enhance the cooperation between his country...
- The UAE and Monaco are centers of global exchanges, the prince said on the sidelines of Monaco's National Day celebration at Expo.
- Monaco’s pavilion at Expo 2020 is located in the Opportunities District and is inspired by the legendary Rock of Monaco.
Business
Middle East’s first waste-to-sustainable aviation fuel plant to come up in Abu Dhabi
Abu Dhabi Waste Management Centre (Tadweer) has signed an agreement with Etihad Airways to facilitate the development of the first...
- The plant can convert 4 million tons of municipal waste every year into 140 million gallons of fuel.
- The plant will help Abu Dhabi to divert 75 percent of municipal waste away from landfills.
Business
Air Lease Corporation signs letter of intent to purchase 111 Airbus aircraft
US company Air Lease Corporation (ALC) has signed a letter of intent to purchase 111 Airbus aircraft, the European plane-maker...
- The agreement is for 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and seven A350Fs.
- Founded in 2010, ALC has ordered a total of 496 Airbus aircraft so far.
Business
EDB and Dubai IE sign pact to offer UAE exporters access to finance
Emirates Development Bank (EDB) has signed a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing...
- The finance will help exporters expand their global value chains, said CEO of EDB.
- EDB has also allocated AED30 billion as a direct and indirect financial bundle to finance SMEs, startups, and corporates.
Geostrategy
Iran invites UN nuclear watchdog chief to Tehran for talks
Iran has invited the head of the International Atomic Energy Agency for talks after the UN official expressed concern over...
- Rafael Grossi is expected to meet with Iran's foreign minister and the country's atomic energy chief.
- Grossi last visited Tehran in September, where he clinched a deal over access to surveillance equipment at Iran's nuclear facilities.
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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
Company News
Funding crunch cripples Lebanon film industry
Arts & Culture
Latest News
Dallah reports 52% profit rise
Business
GCC renews pledge to deepen partnership with China
The Gulf Cooperation Council (GCC) has renewed its commitment to continue having a strong partnership with China in order to...
Geostrategy
Most Read
Economy
IMF likely to open regional office in Saudi Arabia
IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- Credit rating agency S&P has already affirmed Saudi Arabia’s rating at “A-/A-2” with a positive outlook citing higher oil revenues
Business
UAE and Italy to widen trade and economic ties
The UAE and Italy are looking to widen trade ties between the two countries, and in this regard an Italian...
- The talks touched on the customs services and facilities that Dubai Customs provides to facilitate trade
- The meeting is part of Ertibat Initiative, which seeks to develop relations with foreign diplomatic missions and business sectors
Business
US Gecko Robotics set to establish international HQ in UAE
The Pittsburgh-based company is looking to establish a state-of-the-art manufacturing plant in Khalifa Industrial Zone Abu Dhabi.
- The Pittsburgh-based company is looking to establish a state-of-the-art manufacturing plant in Khalifa Industrial Zone Abu Dhabi
- Gecko Robotics is the latest to set up base in the UAE, joining UK tech company Gödel and food app development company Krush