Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
Economy
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Economy
ADNOC Drilling included in major global indices
ADNOC Drilling’s has now achieved an integral position as the sole provider of drilling rig hire and rig-related services to...
- ADNOC Drilling was included in key global indices by FTSE less than two weeks after its record ADX listing
- The Company’s Board approved ADNOC Drilling’s ambitious 5-year business growth plan for 2022 to 2026
Business
SIB profit up 30 percent in nine months
The bank said it continued hedging policy despite corona recovery.
- Operating profits increased by 29.3 percent to reach AED 652.9 million.
- The bank's board has approved a proposal to allow foreign investors to trade in 40 percent of the bank’s shares.
Business
SODIC lands $100m loan
This will finance SODIC’s West Cairo flagship project.
- The Arab African International Bank and Banque Misr is providing this facility to SODIC
- SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West
Expo 2020 DUBAI
Slovakia debuts its first Hydrogen car at Expo 2020
The car has an aerodynamic design and is a sports model, and does not produce dangerous emissions.
- The vehicle, called the MH2 Hydrogen car, has been designed by Branislav Mauks
- He is a Slovakian designer who since 2007 has contributed in designing each of Ferrari’s models
PIF of Saudi Arabia to launch tourism on ‘THE RIG’
Public Investment Fund of Saudi Arabia has announced the launch of ‘THE RIG,’ a new tourism project on oil offshore...
- “THE RIG” will span a combined total area of more than 150,000 square meters
- It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences
Business
Iran ex-central bank chief gets 10-year jail term
An Iranian court has sentenced the former governor of Iran’s central bank to 10 years in prison for violating the...
- Zabihollah Khodaeian, judiciary spokesman, told state TV that besides violating the currency system, Valliollah Seif also had a role in smuggling foreign currency
- State TV said they were involved in violations of the currency market in 2016
Economy
Bahrain central bank issues e-cheques
The e-cheques will retain all the basic functions, legal validity, and benefits of paper cheques while providing a paperless payment...
- The e-cheques will come into effect on October 19, and will be available through two apps
- They are expected to complement traditional paper cheques, which are a popular payment instrument in Bahrain
Business
Putin of Russia says crypto has value but not for oil trading
Russian President Vladimir Putin signaled tolerance of cryptocurrencies, but is still not convinced they can replace the US dollar in...
- Russia has sought alternatives to trading in dollars since being slapped with sanctions in 2014 following the annexation of Crimea
- “It is legitimate and can be used in settlements, no doubt about that, but it is too early to use it for trading in oil"
Geostrategy
UAE calls for joint international effort to achieve zero poverty
The UAE maintains a firm belief that the international community must work together to honor shared commitments towards achieving zero...
- Al Shamsi made the remarks in a statement issued today to mark the International Day for the Eradication of Poverty
- At the international level, the UAE is a key contributor to many global humanitarian initiatives focused on eradicating poverty
Business
AD Ports H1 revenue up 21%
Diversification, new leases, and partnerships fueled the rise.
- AD Ports Group revenue increase 21 percent year-on-year to AED1,832 million ($499 million) in H1 2021
- This was in contrast with its H1 2020 revenue of AED1,517 million ($413 million)
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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
Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
Economy
Company News
Latest News
Saudi China’s largest oil supplier in Q1 despite Beijing’s Russia imports
Riyadh, Saudi Arabia - Saudi Arabia topped the list of oil suppliers to China for the first time in four...
Business
UAE, France, India share vision on sustainable growth: Sheikh Abdullah
New York, USA - UAE, France and India have discussed the need for enhancing global cooperation to counter energy and...
Geostrategy
Binance gets MVP license from Dubai virtual assets authority
Dubai, UAE--Binance, the leading global blockchain services provider, said Tuesday it has received the Minimal Viable Product (MVP) license from...
Business
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Business
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technology
- The innovative design is intended to be 100 percent reliant on solar energy.
- As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Infographics
Arab democratization slides further in 2021
Tunisia, the only democracy to remain a democracy after the Arab Spring, may turn authoritarian if a draft constitution published...
- According to the Economist Intelligence Unit Democracy Index, the Middle East and North Africa is the lowest ranked of all regions covered in the index.
- Many Arabs surveyed say they would prefer a strong leader 'who would bend the rules to get things done'.
Economy
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization...
- The UAE minister said the ISO annual meeting is in tune with MoIAT's efforts to benefit from international expertise.
- Sultan Al Jaber added that such events showcase the UAE's quality infrastructure and deepen partnerships with relevant national and global entities.