Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA:Â Â 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
Business
UAE and IRENA launch $1 billion clean energy finance platform
The UAE and the International Renewable Energy Agency (IRENA) on Wednesday announced the Energy Transition Accelerator Financing (ETAF), a new...
- The Energy Transition Accelerator Financing will aim to mobilize an additional $2 billion in energy transition investments.
- The platform targets 1.5 GW of clean renewable energy generation and storage by 2030.
Business
UAE provides $10m in aid to Turkey
The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions...
- the UAE expressed its solidarity with the Turkish people in these exceptional circumstances
- The move follows the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
Business
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.
- “The board of directors of Herfy Food Services Co extends its appreciate and gratitude for the efforts made by Mr Sam Bader during his term of acting CEO"
- The company said Bader had started his career with BK USA, then worked for McDonald’s International USA
Business
DCT Abu Dhabi, Hub71 partner to advance tourism, culture through startups
Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will...
- DCT Abu Dhabi will fund the Proof Of Concepts (POCs) of the startups identified for future work.
- Hub71 will provide DCT Abu Dhabi with access to a broad pipeline of startups, regionally and globally.
Science
Ten global firms launch the Alliance for Clean Air
The first global corporate effort to tackle air pollution was launched today, named the Alliance for Clean Air, bringing together...
- Ten companies are committing to measuring their air pollution footprint and creating clear, actionable plans to help deliver clean air
- Â In 2019, it was the fourth leading risk factor for early death worldwide, surpassed only by high blood pressure, tobacco use and poor diet
Business
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.
- The increase in net profit was driven by a rise in income from investments and recent acquisitions.
- The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Geostrategy
UK pledges $68 million for Middle East North Africa green transition
LONDON: The United Kingdom will provide $68 million in funding to help the Middle East and North African countries' energy...
- Britain's Minister for the MENA region James Cleverly announced the funding at the COP26 in Glasgow.
- The funding will go toward the High Impact Partnership on Climate Action, which was launched at the event.
Economy
Dubai SME extends AED75.6 million in financial facilities to Global Village
The 25 kiosks were allocated for startups in the food and beverage (F&B) sector, chiefly restaurants and cafes, wholly owned...
- Under the agreement, 25 kiosks have been allocated for Emiratis within Global Village to launch and grow their business
- Dubai SME, through its online registration portal, received more than 200 applications for Global Village
Business
Three agreements signed in Dubai for self-driving solutions
The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots.
- The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots
- Majid Al Futtaim and Yandex have partnered to explore the independent technology solutions to enhance the scope of the last-mile delivery of Carrefour orders
Business
Airports grouping ACI Asia Pacific calls for reopening borders
70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56%...
- 70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56% for the Middle East
- Airport revenues are predicted to decline by US$ 34 billion in Asia-Pacific and US$11 billion in the Middle East by the end of 2021
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA:Â Â The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
Business
Company News
Saudi Electricity borrows $568m
Business
Latest News
UAE economy achieves pre-pandemic level growth: WB regional director
Abousleiman said the UAE led the world with a successful vaccination programme in 2021, as well as its monetary and...
Economy
UAE, Japan sign comprehensive strategic partnership pact
Minister of Industry and Advanced Technology and UAE Special Envoy to Japan Dr. Sultan bin Ahmed Al Jaber and the...
Geostrategy
Abu Dhabi Exchange, MSX sign cooperation agreement
Abu Dhabi, UAE---The Abu Dhabi Securities Exchange (ADX) and the Muscat Securities Market (MSX) signed a memorandum of understanding (MOU)...
Business
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Business
CMA clears three new IPOs for listings on Saudi bourses
The CMA has approved an application from Power and Water Utility Co. for Jubail and Yanbu to register and sell...
- IPOs in Saudi Arabia are on course for a record year, with the number of listings already exceeding last year
- The main TASI index accounted for eight listings generating $4.4 billion, and the parallel Nomu market had nine listings worth $649 million
Geostrategy
Bahrain and Japan resolve to boost ties in various fields
The two leaders also agreed to explore opportunities that would aid the advancement of Bahrain and Japan’s strategic partnership in...
- The crown prince discussed the depth of Bahrain-Japan relations, emphasizing Bahrain’s commitment to strengthening bilateral relations between the two nations
- The two leaders discussed the latest regional and international economic developments, and issues of common interest
Business
IHC buys 54% stake in Emircom
Firm buys stake for $68 million via its subsidiary IHC Digital
- Emircom is the Middle East’s leading information and communications technology (ICT) provider.
- This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.