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
Business
Ministry of Economy and LinkedIn sign MoU to promote UAE as talent destination
The UAE's Ministry of Economy has signed an agreement with LinkedIn for developing a framework for skills-based talent besides identifying,...
- The agreement is geared towards achieving UAE Strategy for Talent Attraction and Retention.
- LinkedIn will collaborate with the ministry’s team to make joint action plans supporting the ministry’s national strategies.
Business
Emirates cancels flights to Sudan after reports of military coup
Emirates has cancelled flights to Khartoum after reports emerged of a military coup in Sudan.
- The airline said that flights to and from Khartoum, operated by EK 733/734, are cancelled from October 25 to October 27, 2021
- “Customers with final destination Khartoum will not be accepted until further notice from any point on the Emirates network”
Business
Al-Ahli Bank of Kuwait net profit $69.6 mn
The bank suffered a net loss of KD 7.9 mn in first nine months of 2020.
- The bank's total assets increased by 4 percent to reach $17.1 billion.
- It launched the first issuance of Kuwaiti dinar-denominated bonds at a value of $165 million.
Business
Aramco, TotalEnergies launch stations
The service stations are part of a joint venture signed in 2019.
- The joint venture is aimed at upgrading a network of 270 service stations and expanding the range of retail services.
- The TotalEnergies stations will house Bonjour Café, while the Aramco stations will feature Fai Café.
Infographics
How major Arab economies performed since 1975
At a time when the future of the global economy is going to change following the trends from regional economies,...
- The region's dynamics have changed a lot due to oil exports from 1975 to 2021.
- The Arab countries are now among top-world investors in high-tech companies
Business
Dubai leads MENA region in Global Cities Index
Despite the disruption caused by the coronavirus lockdown Dubai and Abu Dhabi have continued to advance in the race to...
- The city also leads the Middle East and North Africa (MENA) region in the index
- Abu Dhabi secured the fourth spot in the Global Cities Outlook (GCO), rising three places from the seventh position last year
Business
ACWA Power of KSA to build solar power plant in Iraq
Iraq is looking to establish a big solar power plant in the Najaf area that could generate 1,000 megawatts of...
- In this regard it is in advanced discussions with Saudi Arabia’s ACWA Power, the oil ministry announced on its Facebook page
- The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate
Business
Saudi telecom firm Zain reports 36% dip in net profit
Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the...
- The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent
- Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall
Business
Alsulaiman Group and Livspace announce a Joint Venture
Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders.
- Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders
- The JV further plans on strengthening the team by investing in talent across levels while also aiming to reach 500 design partners in the region by 2022
Economy
Bahraini Farmers Market returns with Covid-19 precautions
The market, which reportedly aims to promote Bahrain’s agricultural products and highlight the development taking place in the country’s agricultural...
- This edition of the market will be limited to shops selling local agricultural produce
- It will also feature a number of restaurants without the accompanying recreational activities
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
DIFC unveils wealth center
Business
Latest News
Southern Cement H1 profit $40mn
Business
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.
Videos
UAE delegation attend meetings on sidelines of UNGA session
The UAE delegation attended the sixth day of high-level meetings on the sidelines of the 77th Session of the United...
Geostrategy
Sharjah Chambers discusses credit report, score for SMEs
The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP)...
Business
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Geostrategy
Freed Moroccan prisoner of war speaks of Ukraine struggle
A Moroccan prisoner of war released as part of an exchange between Moscow and Kyiv said he wanted to draw...
- Saadoun was freed on Wednesday, one of 10 foreign prisoners of war - including five British and two American citizens.
- He transferred to Saudi Arabia as part of the exchange between Moscow and Kyiv.
Geostrategy
UAE to provide Germany gas, diesel under ‘energy security’ deal
As part of the deal, the UAE will provide "an LNG cargo for delivery in late 2022, to be used...
- The fact that we are dependent on one supplier and also dependent on its decisions will certainly not happen to us again, Scholz said.
- In Qatar, the last stop on his two-day Gulf tour, the chancellor said the emirate's rights record is improving.
Economy
Saudi launches five projects to produce electricity using renewable energy
Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the...
- Saudi Energy Procurement Company (the main buyer) launched the projects for competition.
- These projects, with a total capacity of 3300 MW, include three projects to exploit wind energy and two projects to exploit solar energy.