Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
Business
UAE minister says global energy transition to take time
The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition...
- The minister believes that the world is entering an oil supply crunch
- He said that 80 percent of energy demand still comes from fossil fuel. He added that the world was ‘underinvesting’ in hydrocarbons
Tunisia most democratic among countries roiled by Arab Spring
Tunisia, where the government of former president Zine El Abidine Ben Ali was overthrown in 2011, scored 6.59 out of...
- Tunisia, where the government of former president Zine El Abidine Ben Ali was overthrown in 2011, scored 6.59 out of ten in the 2020 Democracy index
- Libya is now tied with Yemen at the bottom of the list, with a democracy score of 1.95 out of 10
Economy
UAE to chair 6th Annual Asian Infrastructure Investment Bank meeting
The Meeting will focus on a number of key themes, including investing in the infrastructure for tomorrow such as cross-border...
- The meeting to be attended by 103 members as well as strategic partners from around the world will be held virtually under the theme "Investing Today. Transforming Tomorrow."
- In 2020, the Asian Infrastructure Investment Bank announced its strategic ambition to allocate 50% of its total funding until 2025 to climate-friendly projects
Business
Bitcoin drops off record high as ETF-frenzy subsides
Cryptocurrencies declined on Friday following an ETF-fueled rally that saw it reach a record $67,016 on Wednesday, as investors questioned...
- Bitcoin’s recent rally — six-months after its previous top of $64,895 — was fueled by the debut of the ProShares Bitcoin Strategy ETF
- Investors have bet the long-awaited launch of bitcoin ETFs will lead to greater investment from both retail and institutional investors
Business
STV sets its sights on $1bn Middle East tech fund
STV is aiming to raise at least $1 billion for its second Middle East technology investment fund, making it potentially...
- The people chose to remain anonymous as the details of the fund remain private
- IPOs in the region have also recently taken prominence with Adnoc Drilling coming to the market as the largest IPO on the Abu Dhabi stock market
Science
Egypt looks to raise renewable energies share to 42% by 2035
Egypt is looking to increase the share of renewable energies to over 42 percent by 2035, after the country reached...
- Mohamed Shaker, the minister of electricity and renewable energy, noted that Egypt has allocated 7,650 square kilometers of unused lands to new and renewable energy projects
- He said that Egypt is the largest holder of electrical capacities in the MENA region and has the capacity to produce up to 90 gigawatts of wind and solar capacity
Business
Al Babtain to procure SAR 250m loan
The facility will be provided through Murabaha mode
- The duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing.
- The company said the loan will be used for re-structuring a part of short-term finances.
Science
US climate envoy to take part in Middle East Green Summit
John Kerry, the US climate envoy, will be in Saudi Arabia on Sunday to participate in the Middle East Green...
- Kerry will “engage with government counterparts and private sector leaders on efforts to address the climate crisis”
- Saudi Arabia will host the inaugural Saudi Green Initiative Forum and Middle East Green Initiative Summit in Riyadh on Oct. 23-25
Business
Banan to distribute cash dividends
The shareholders will get dividends for the period ending June 30.
- Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate.
- The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios.
Geostrategy
Renewable energy jobs reach 12 million globally
A report by the International Renewable Energy Agency confirms Covid-19 caused delays and supply chain disruptions, with impacts on jobs...
- Off-grid solar lighting sales suffered due to Covid-19 disruptions, but companies were able to limit job losses.
- China commanded a 39 percent share of renewable energy jobs worldwide in 2020, followed by Brazil, India and the US.
Most Read
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
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
Company News
Latest News
UK government revokes gas fracking ban in England
Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.
Geostrategy
Saudi-UAE non-oil trade increased by 92.5 percent in past decade
The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...
Business
Most Read
Business
Value of building permits issued by Sharjah Municipality hits $2.54 bn
Sharjah, UAE--The contractual value of building permits issued by Sharjah Municipality grew to AED9.344 billion ($2.54 billion) in H1, while...
- The value of building permits for which certificates of completion were issued reached AED3.263 billion.
- Building Permits Department has completed 1,824 applications for accrediting engineering plans, and issued 1,265 building permits.
Geostrategy
UAE, Jordan ink pact to standardize specifications
The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...
- The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
- The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
Business
Saudi Education Minister meets founder of edX platform in US
Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...
- The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,
- The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.