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
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
Business
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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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
Company News
BHP posts 40% jump in profit
Business
Latest News
UAE and China relations a model to follow: Suhail Al Mazrouei
The Energy Minister said the UAE encourages joint investments with China in every sector, most notably in digital economy, green...
Geostrategy
Dubai Metaverse Assembly takes delegates to Mars
Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet.
Economy
Jordan government reduces fuel prices for October
The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.
Economy
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Business
Saudi to make US$32bn in income from recycling by 2035
Saudi Arabia is expected to generate an annual income of $32 billion from recycling waste by 2035, according to the...
- Mansour Al-Mushaiti said the forecast is based on estimates made by the National Center for Waste Management
- He also flagged up the move to zero carbon neutrality by 2060, as well as seeing 94 percent of waste recycled by 2035 instead of being taken to landfills
Science
Abu Dhabi launches healthcare grant to help research, innovation
The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a...
- The grant seeks to fuel healthy competition across the healthcare ecosystem in the emirate.
- It seeks to help start unique research projects and innovative products, technologies and services in Abu Dhabi’s healthcare facilities.
Business
Emirates SkyCargo, United Cargo sign MoU
The two airlines will work on expanding cargo interline options.
- United will have access to SkyCargo’s high frequency distribution network through the belly-hold of passenger flights to over 100 global destinations and 11 freighters.
- Emirates SkyCargo will have access to over 200 cities in the US and 300 cities across five continents through United Cargo.