BRICS, SCO membership to reduce West’s sanctions effect, says Iran
"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional...
Geostrategy
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
Geostrategy
Geostrategy
High freight costs push world food import bill to record high
The global food trade should hit a record high in both volume and value, according to a new report by...
- The bill is 14 percent higher than last year and 12 percent higher than the previous forecast.
- The increase is also driven by higher price levels of internationally traded food commodities.
Business
Aleastur, top European metal producer, sets up base in Bahrain
Aleastur, top European metal producer, has set up first plant for aluminum grain refiners and master alloys production in Bahrain.
- The new $15 million site at the heart of the Gulf region will supply specialty alloys to global markets, including Asia, North America and the GCC
- The Bahrain facility will be exporting approximately 85% of its annual production to regional players in the industry, including main aluminum smelters and cast-houses
Business
AACO sets net-zero emissions target
The company to respect the Chicago Treaty, bilateral air services agreements
- AACO General Assembly called for the adoption of the guidelines of air travel and vital safety in light of the COVID-19 pandemic
- The General Assembly stressed the need to respect the Chicago Treaty and bilateral air services agreements on civil aviation
Business
Model Cargo Village at King Fahd Airport is Saudi economic engine
The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support...
- The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support companies
- It also provides creative solutions by linking all strategic and major sites with multiple access points and connecting them to the outside world by land, sea and air
Economy
ADNEC pledges zero carbon emissions
The company will support the UAE 2050 Strategic Initiative
- The announcement follows the signing of the Net Zero Carbon Events pledge, a new industry initiative to address climate change
- ADNEC’s pledge also supports the United Arab Emirates (UAE) Net Zero by 2050 Strategic Initiative to reduce carbon
United Arab Emirates to host COP28 in 2023
The UNFCCC confirmation of the UAE as the host for the 28th conference followed unanimous endorsement by the Asia Pacific...
- The UAE has pledged US$1 billion of increased investment as part of the AIM for Climate
- The country has also joined the Global Methane Pledge building on its position as one of the least methane intense nations in the world
Geostrategy
Saudi Arabia grants citizenship to foreigners with ‘distinguished talents’
Saudi Arabia has granted citizenship to an unspecified number of people with "distinguished talents, unique expertise and specializations". Saudi Press...
- Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has approved the citizenship.
- The government said granting citizenship to such people will contribute to the development of various sectors throughout the kingdom.
Business
Helium Health of Nigeria buys out Qatar-based Meddy Inc
Meddy Inc, the Qatar-based doctor booking service, has been bought out by the African health tech company Helium Health, embarking...
- Nigerian-based Helium, which also operates in Ghana, Liberia, Senegal, Kenya and Uganda, announced that it had acquired Meddy Inc
- Helium will deploy its electronic medical records (EMR) technology and healthcare financial solutions across the GCC healthcare market
Business
Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC)...
- The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031.
- The second tranche of $1.25 billion is for a 30-year bond maturing in 2051.
Business
ADFD provides Lesotho with $20m finance for water supply
Abu Dhabi Fund for Development (ADFD) will provide the Butha-Buthe District in Lesotho with $20 million in finance for the...
- The water supply system will provide 9,000 cubic meters of clean water per day, enough to meet the water needs of the Butha-Buthe population
- The loan agreement was signed by Mohammed Saif Al-Suwaidi, Director General of ADFD, and Thabo Sophonea, Lesotho’s Minister of Finance
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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
BRICS, SCO membership to reduce West’s sanctions effect, says Iran
"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional...
Geostrategy
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Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
Science
Dubai real estate market performance in Aug best in decade
A total of 9,720 real estate sales worth $6.62 billion were recorded during the month, an increase of 69.57 percent...
Business
Large turnout of visitors at WETEX, Dubai Solar Show
The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
Business
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Business
ACWA’s investments surge
The Saudi utility now boasts of $67bn investment portfolio.
- The company, which builds power and desalinated water plants, currently has 60 percent of its projects in progress and 40 percent in development stages
- According to its CFO, Abdulhameed Al-Muhaidib, it has invested $10 billion in the UAE renewable energy, water desalination, and clean gas projects,
Business
Qatar hopes to make US$17bn in profit from World Cup
The 2022 World Cup may prove to be a big windfall for Qatar as it hopes to make some $17...
- The CEO said that between 3 and 4 billion people around the world will watch the Qatar World Cup 2022
- He said that Qatar is expecting nearly one million people, including 12,000 from the media, during the World Cup
Economy
IsDB, Jordan sign two pacts to support food security, tourism sector
Jordanian Prime Minister Bisher Al-Khasawneh commended the continuous support of IsDB for economic projects in Jordan including help in the...
- Jordanian Prime Minister Bisher Al-Khasawneh commended the continuous support of IsDB for economic projects in Jordan including help in the modernization of the public sector
- President of the IsDB Group, Dr. Mohammad Sulaiman Al-Jasser affirmed the IsDB's interest in continuing to support and implement development and service projects in Jordan