Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
Geostrategy
Business
NBQ net profit at $53m
The net profit rose 10.61% in comparison to last year.
- The cost-to-income ratio stood at 32.22 percent in the first nine months of 2021
- The Capital Adequacy Ratio improved to 41.37 percent
Business
UAE payments industry expected to reach $14 billion by 2030
The UAE's payments industry, like several other countries in the world, suffered an impact far less severe than initially anticipated...
- Like other countries, the industry in UAE suffered the Covid-19 impact less severe than anticipated, according to Boston Consulting Group.
- The national payment revenues in the UAE expected to grow by 67 percent between 2020 to 2030.
Business
Qatar and Rolls Royce set up a fund to invest in green projects
Qatar has tied up with Rolls Royce to set up a fund worth billions, investing in green engineering projects with...
- A sister campus would be built in Qatar
- The project will be one of the largest inward investments by a foreign state to the UK
Science
Dubai to plant more mangrove trees to preserve coastline
Dubai Municipality has begun a new drive to plant mangrove trees in Dubai’s natural reserves as part of its efforts...
- Dubai Municipality will start planting mangrove trees in its marine reserves in Ras Al Khor and Jebel Ali
- These trees will be planted in areas that are not exposed to waves, such as shallow areas and creeks, where the tidal rate does not exceed 1-2 meters
Business
Jordan resolves to develop network of electricity grids
Jordanian Minister of Energy and Mineral Resources, Saleh Kharabsheh, has stressed the importance of developing the country’s electricity grids and...
- The minister said the world is witnessing a technological revolution in the energy field, especially the renewable sector, which should be taken advantage of
- The minister also stressed the importance of the Arab electric connection and efforts to increase its capacity
Economy
Bahrain to deport a number of illegal expatriate workers
The violators were arrested during a clampdown conducted in the Muharraq governorate by the LMRA Labor Inspection Directorate.
- They are to be deported in compliance with the law, Bahrain’s Labor Market Regulatory Authority or LMRA has said
- It has also said it would step up such inspections in cooperation with competent authorities within the joint efforts with the Ministry of Interior
Business
Dubai CommerCity ties up with Khaleej Digital for e-commerce
Dubai CommerCity, the first and leading e-commerce free zone in the region, has partnered with e-commerce strategy consultant, Khaleej Digital.
- Khaleej Digital will support Dubai CommerCity in leading its customers’ digital transformation journey by designing, planning and executing an e-commerce strategy
- By exchanging knowledge and expertise, the two entities will provide the free zone’s customers with an array of exceptional services
Economy
UAE fines, imprisons several for financial crimes
A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for...
- In one case, the former employee of a Dubai bank was convicted of embezzling more than AED5.23 million (around $1.42 million)
- The money belonged to real-estate development companies and was deposited with the bank
Geostrategy
Dubai discusses cooperation with Egypt
Dubai ruler Sheikh Mohammad bin Rashid Al Maktoum met Egypt’s Prime Minister Mostafa Madbouly at Expo 2020 Dubai.
- Dubai and Egypt discussed cooperation and boosting bilateral ties
- This, even as Egypt celebrated its National Day at its Expo 2020 pavilion
Business
RAK Properties profit rises 383%
Q3 net profit rose to AED197.9 million from AED40.97 million last year.
- Value of assets of the company increased to AED6.18 billion ($1.68 billion), a step up from AED5.8 billion ($1.58 billion)
- The rise was ascribed to increased investments in the development of hotel and residential projects
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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
Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
Geostrategy
Company News
SEIC buys stakes in Egypt firms
Business
Latest News
Air Arabia H1 profit $122.8m
Business
EU to support Iraq in boosting economic activity in five sectors
The European Union has shown interest to be part of the process of decentralization in Iraq and in this regard...
Geostrategy
Germany vows to protect its SMEs from energy crisis
The German economy, like the economy of the vast majority of European countries, faces major challenges due to the Russian...
Economy
Egypt’s gas export revenues up 13-fold in 8 years
Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021-2022.
Economy
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Geostrategy
Jordan PM meets Iraqi, Syrian, Lebanese agriculture ministers
Jordan Prime Minister Dr. Bisher Khasawneh has a joint meeting with the agriculture ministers of Iraq, Syria and Lebanon.
- The Jordan PM stressed the importance of the four countries' cooperation to enhance sustainable food security.
- The PM said COVID-19 pandemic and Ukraine war have affected basic commodities supply chains.
Business
Sudan seeks investment from Qatari private sector in various sectors
Doha, Qatar - Qatar Chamber explored, with the Ruler of Darfur region in Sudan, investment cooperation and enhancing the role...
- Ruler of Darfur Region in Sudan, Minni Arko Minawi and Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwary discussed investment prospects.
- Arko Minawi said that the region is rife with a host of investment opportunities in various sectors such as mining and infrastructure.
Videos
Gender bias in MENA workforce raises concerns
The latest study on Diversity, Equality and Inclusion sheds light on the diversity gap in the region while offering solutions.
- Middle East – IMA and IFAC recently release DEI report: "Diversifying Accounting Talent in the MENA region: A Critical Imperative to Achieve Transformational Outcomes”.
- The study focuses primarily on gender, nationality, and ability within the MENA region, assessing deeply rooted issues inhibiting DEI progress within the accounting profession.