UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
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
Geostrategy
UAE calls for inclusive climate agenda for COP28
Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan...
- The UAE has offered to host COP28 in 2023. The Asia Pacific Group of nations had endorsed the UAE's bid.
- Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan bin Ahmed Al Jaber.
Business
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.
- The company's profit in the same quarter a year ago was SR541 million.
- The net profit of the first nine months of this year also went down by half to SR434 million.
Business
ADNOC Drilling 9M revenue $1.7 bn
This was the company's first quarterly disclosure since listing on ADX.
- The Company reported an EBITDA of $785 million and a net profit of $460 million for nine months of 2021.
- The onshore revenue for the nine months was $847 million, up 10 percent compared to the same period last year.
Business
EDB, NBF agree to provide credit guarantee and co-lending for SMEs in UAE
The Emirates Development Bank (EDB) has signed an MoU with the National Bank of Fujairah (NBF) to offer credit guarantees...
- NBF will offer up to AED10 million financing to an SME, and 50 percent of the facility amount will be either guaranteed or co-lent by EDB.
- The program also aims to support UAE citizens in the startup journey by offering financing facilities of up to AED1 million.
Pandemic brings global syringe shortage into sharp focus: WHO
The UN health agency said that a shortage of at least one billion syringes “could occur”, if manufacturing does not...
- The UN health agency said that a shortage of at least one billion syringes “could occur”, if manufacturing does not pick up.
- Lisa Hedman, WHO Senior Advisor, warned that a generation of children might miss immunization jabs unless manufacturers make more syringes
Business
Dubai Chamber identifies UAE-Indonesia trade opportunities
There appears to be plenty of scope for Indonesia to expand its cooperation with the UAE in the area of...
- The chamber, in a statement on its website, said the UAE was among the top 20 import-partner countries of Indonesia
- However, Indonesia is not even among the top 30 export and import markets for the UAE
Economy
ADX proposes region’s first SPAC regulatory framework
The ADX and ADDED, in conjunction with legal and investment specialists, have worked together to produce the proposed SPAC regulations,...
- The regulatory framework proposed by ADX and ADDED will facilitate initial public offerings of SPACs, providing investors worldwide with access to unique growth opportunities
- The proposed regulations will also allow sponsors outside of the UAE to apply for approval to list their SPACs on the ADX
Business
DP World launches e-commerce site Dubuy in Kenya
Dubuy.com aims to provide Kenya a secure and reliable way for its businesses to grow.
- Dubuy.com, an e-commerce platform of DP World, has launched in Kenya
- It has already seen over 500,000 website visits from African vendors since its launch in Rwanda six months ago
Business
AD Ports Group to develop multipurpose terminal at Egypt’s Safaga Port
A multipurpose terminal in Safaga Port of Egypt will be developed and operated by AD Ports Group. Under an MoU...
- AD Ports signed an MoU with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation.
- Under the pact, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to the project.
Economy
Dubai non-oil economy surges to two-year high in October
Dubai's non-oil economy continued to grow in October, courtesy of a sharp rebound in new orders and increased tourism activity...
- A sharp rebound in orders and Expo boost raise Purchasing Manager's Index.
- Despite the growth of businesses, job hiring remained marginal. Overall expectations of firms at their highest since March 2020.
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
Company News
BHP posts 40% jump in profit
Business
Latest News
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
Business
Mawani, Tabadul to develop port community management systems
Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) and the Saudi Information Exchange Company (Tabadul) signed an MoU to develop new port...
Business
UAE-China ties successful model of international relations: Al Dhaheri
Beijing, China---Ali Obaid Al Dhaheri, UAE Ambassador to China, has said the UAE and China maintain close strategic relations, which...
Geostrategy
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Geostrategy
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...
- Al Mazrouei stressed that cooperation with Chinese companies is continuing, as more than 4,000 operate in the Emirati market and employ some 400,000 people
- The minister said the UAE was among the first countries to join the Belt and Road Initiative and is one of the founding members of the Asian Infrastructure Investment Bank (AIIB)
Economy
Dubai Metaverse Assembly takes delegates to Mars
Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet.
- Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet
- Senior executives from major corporations also discussed topics such as the relationship between the metaverse and gaming, retail, banking, and venture capital
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.
- The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October
- The price of one litre of diesel and kerosene will sell at JD0.825 in October, instead of JD0.790