French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
Geostrategy
Algerian, South African ministers discuss ways to boost economic cooperation
JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...
Geostrategy
Geostrategy
UN envoy says Yemen facing ‘uphill battle’ as 115 more die
Yemen is facing an "uphill battle" for peace, UN special envoy Hans Grundberg said on Monday, as the Saudi-led coalition...
- The Swedish diplomat, who took up the post in September, made the comments during a visit to Taez in the war-torn country's southwest
- Grundberg said "military operations (are) causing significant casualties, which are exacerbating the humanitarian situation
Business
CBRE study depicts upbeat future for Saudi hotel industry
With the Covid infection tapering off in Saudi Arabia, there has been a reasonable increase in hotel occupancy rates in...
- The average daily rate (ADR) at hotels across the Middle Estate jumped 9.9 percent in the first nine months of the year
- The growth has been fueled by higher levels of tourism activity in major destinations like Jeddah, Khobar and Riyadh
Business
ADNOC Distribution’s Q3 profit is $144m
The profit is 21 percent lower than Q3 2020 due to a lower fuel margin.
- The company's net profit for the first nine months of 2021 was AED 1.7 billion, six percent higher compared to the corresponding period in 2020.
- ADNOC Distribution said it plans to open 40-45 new stations in Saudi Arabia in 2021 as part of its expansion plans for the UAE and the kingdom.
Geostrategy
Saudi forces arrive in UAE for ‘One Destiny/1’ exercise
In order to boost military cooperation, and to exchange military expertise, members of Royal Saudi Land Forces arrived in the...
- The exercise aims to strengthen joint defense and military cooperation and knowledge between the two sides
- The exercise also aims to achieve readiness and operational compatibility and integration
Geostrategy
UAE and Cyprus look at ways to boost trade, cooperation
Foreign ministers of the United Arab Emirates and Cyrus reviewed bilateral relations and ways to boost trade between the two...
- The Ministers reviewed a number of issues of common concern, including the situation in the eastern Mediterranean
- Sheikh Abdullah lauded the distinguished bilateral relations between the UAE and Cyprus
Business
Standard Chartered starts sustainable account in UAE, Aldar first to open it
Abu Dhabi-based developer Aldar Properties became the first corporate in the UAE to open a sustainable bank account started by...
- Deposits in the accounts are used to fund sustainable projects.
- The bank has said the surplus cash will be used in addressing the climate crisis and financial exclusion.
Business
DFM picks new CEO
The Dubai Financial Market (DFM) has hand-picked Hamed Ahmed Ali as the new Chief Executive Officer (CEO) in the wake...
- The newly formed board of directors approved the appointment as part of efforts to “empower new leaders”
- Ali was previously appointed Deputy CEO and Chief Markets Officer of DFM in July 2020
Business
National Bonds ups stake in Taleem
Taleem Holdings is one of the largest education providers in the Middle East.
- National Bonds increased the stake in Taaleem, a company with paid-up capital of AED 750 million, from 19.6 percent to 23 percent.
- By end of Q3 2021, National Bond's investment portfolio has grown by more than 32 percent to surpass AED 10 billion ($2.72 billion).
Business
ADNIC nine-month profit at $90m
Its profit in the first nine months last year was $77 million.
- ADNIC’s overall premium retention ratio reached 33.5 percent for the nine months of 2021
- This was in comparison with 32.7 percent for the same period last year
Economy
UAE economy has passed recovery phase, on to growth path: Minister
According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation...
- According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation measures
- In 2022, the economy is predicted to grow by 4.2 percent, higher than the previous forecast of 3.8 percent
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
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
Geostrategy
Company News
Latest News
UAE tops Arab countries in WIPO’s Global Innovation Index 2022
The UAE also ranked 18th globally on the GII's Innovation Input Sub-Index, five ranks higher than 2021.
Economy
Specialized sessions on Metaverse opportunities held in Dubai
As many as seven side sessions were held on the first of the two-day specialized sessions on Metaverse.
Business
‘Agri-tech, innovation key in improving farmers’ livelihoods’
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the Agriculture Ministers’ Meeting in Bali...
Geostrategy
Most Read
Geostrategy
UAE, Tanzania sign pact to avoid double taxation
UAE and Tanzania have signed an agreement for avoiding double taxation and preventing tax evasion.
- The pact was signed as part of the UAE's endeavors to strengthen cooperation frameworks in tax matters.
- The agreement is in line with both countries’ efforts to boost cooperation in tax fields, increase investment opportunities, encourage trade exchange.
Business
First international shipment arrives at Mugharraq Port
Abu Dhabi, UAE--- AD Ports Group Thursday announced the arrival of the first international shipment at Mugharraq Port, one of...
- This is the first shipment since Mugharraq Port was recognised as an international port facility.
- International recognition was achieved after a series of major upgrades at the port.
Geostrategy
Dubai fifth globally in UN digital city governance survey 2022
Dubai ranked fifth globally and first in the Arab World in the Local Online Service Index (LOSI) 2022 issued by...
- The latest Local Online Service Index assessed digital governments in major cities across 193 countries.
- Dubai received perfect scores in Institutional Framework, Content Provision and Service Provision, earning it top ranking in these vital indicators.