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
Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
Business
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
Economy
Jordan to expel unvaccinated expats by December 15
The Ministry of Interior of Jordan has confirmed that strict measures will be taken against expatriates who did not receive...
- Expatriates in Jordan are allowed to obtain the vaccine for free
- They are not required to present a residence permit or a work permit to get the vaccine
Geostrategy
Climate, economy, vaccines key focus of G20 talks
Leaders of the world's most advanced nations are hoping to hammer out a way forward on climate change and vaccine...
- In their first in-person gathering since the start of the Covid-19 pandemic, the relaunch of the global economy will also be front and center on the two-day agenda
- The stakes are high, with United Nations Secretary General Antonio Guterres warning G20 leaders to show "more ambition and more action"
Business
Sabic to invest $1.37bn in UK
The investment is expected to improve operations at a UK plant.
- The company said that the investment will strengthen its operations
- England’s Prime Minister Boris Johnson appreciated the decision of investment
Business
Largest Saudi gold mine to begin work in Q1 of 2022
Saudi Arabia is set to begin mining gold from one of the biggest reserves of the kingdom in the first...
- The project in the Makkah region is using renewable energy for 13 percent of its energy requirements with a plan to increase it
- The Kingdom is currently producing about 400,000 ounces from five mines that were developed in the last 10 years
Geostrategy
Arab League rues decline in Lebanese-Gulf ties
The Arab League has expressed strong disappointment at a decline in relations between Lebanon and Gulf states, after an adverse...
- The Arab League Secretary-General Ahmed Aboul Gheit has appealed to Gulf countries "to reflect on the measures proposed to be taken
- The statement came a day after Saudi Arabia ordered the Lebanese ambassador to the kingdom to leave within 48 hours
Business
PIF of Saudi Arabia unveils LIV Golf Investments
Public Investment Fund of Saudi Arabia has unveiled LIV Golf Investments and hand-picked former world champion Greg Norman to lead...
- The new events will be staged from 2022 across Europe, the Middle East and Asia in a move designed to help bolster the sport
- LIV has created 10 new events to be staged annually on the Asian Tour over the next decade with $200 million of backing
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
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DEWA H1 2022 revenue is $3.3bn
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IHC acquires stake in Kaylon
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Savola sells KEC stake for $122m
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Villas and apartments worth $270 million sold in Dubai
Dubai, UAE--Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Monday, according to Dubai Land Department. These...
Business
Eman Al Shamsi is first Arab, Emirati member of WLPO steering committee
The WLPO network, part of the International Society of Pediatric Oncology (SIOP), promotes female leadership in pediatric oncology.
Science
UAE’s top banks post 10% profit jump in H1 of 2022
Signalling a broader economy recovery in the country, four largest banks of the UAE have posted a big surge in...
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Business
Qatar Airways, British Airways expand partnership, form largest airline
The airlines have added 42 new countries to their shared network, including Italy, the Maldives, Norway, Singapore, and Sweden.
- The airlines have added 42 new countries to their shared network, including Italy, the Maldives, Norway, Singapore, and Sweden
- Customers will now benefit from even greater choices in prices and schedules with options for direct flights as well as connections via hubs in London and Doha
Economy
UAE to relax COVID-19 restrictions from Sept. 28
The UAE will be relaxing COVID-19 restrictions nationwide which will come into effect starting September 28. Dr. Saif Al Dhaheri,...
- Official websites of the Ministry of Health and Prevention, the Federal Competitiveness and Statistics Centre and NCEMA will continue to issue updated data.
- COVID-19 daily cases announcement will be discontinued.
Business
UAE-Oman non-oil trade $98.56 billion in past decade
The volume of trade exchange between the two countries during the first half of this year amounted to AED24.2 billion.
- Trade between the two recorded a growth of 98.9 percent to reach AED46.5 billion by 2021 end, compared to AED23.4 by 2012 end.
- It said non-oil exports accounted for 33 percent of the total non-oil trade during the past ten years, recording a value of AED120 billion.