Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
Business
Geostrategy
Jordan to get $11m from US to stem water loss
The Water Authority of Jordan has signed an agreement with USAID in this regard in the third phase of a...
- The deal is aimed at reducing water loss in Maan Governorate in southern Jordan
- The agreement is the third phase of a five-year $152-million Fixed Amount Reimbursement Agreement
Business
Sukuk momentum may continue over the medium term on investor appetite: Fitch
Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs,...
- Sukuks amounting to $57.3 billion were issued in the GCC region, Malaysia, Indonesia, Turkey and Pakistan in the third quarter of 2021.
- Global outstanding sukuk reached $775.4 billion in the third quarter, 2.8 percent higher than the previous quarter.
Business
UAE, Senegal to set up joint business council
The MoU was signed on the sidelines of the Expo 2020 Dubai in the presence of President Macky Sall of...
- For the UAE, the MoU signatory was Abdullah Mohamed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
- For the African country, it was Aba Traore and Elimane LAM on behalf of the Consortium of Employer’s Unions of Senegal
Economy
Africa needs to revamp transportation for economic development: DP World CEO
Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African...
- Africa offers significant potential for investment and economic partnerships, Sultan Bin Sulayem said at Global Business Forum Africa.
- Dubai keen to transfer its experience to help develop business in Africa, Bin Sulayem said.
Business
DSOA program to aid techpreneurs and startups
DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021.
- DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021
- The tech-focused startup event will run from October 17 to 20 at the Dubai World Trade Center
Business
Oman to get green ammonia plant at Salalah
The new project, named SalalaH2, will target the production of up to 1,000 tons per day of green ammonia.
- An international consortium has signed an agreement to develop a green hydrogen and green ammonia project at the Salalah Free Zone in Oman
- The consortium consists of the alternative energy business unit of Oman’s national petroleum investment company OQ, Marubeni Corporation, Linde, and Dutco
Business
DMT issues a new Code of Practice for marina operations
The Department of Municipalities and Transport (DMT) has announced a new Code of Practice (CoP) encompassing the primary Health, Safety...
- The new code will push the emirate's ambition to become one of the top five global maritime centers by 2030.
- The code stipulates mandatory attestation of Marina Berth Leasing Contracts by DMT no later than six months or at the time of the next contract renewal.
Business
Morocco is Africa’s new automotive manufacturing hub
Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000...
- Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.
- According to several international experts Morocco’s auto industry is set to contribute to as much as 24% to the Moroccan GDP by 2022
Economy
UAE’s non-oil foreign trade up 27% to AED900 bn in H1 2021
According to preliminary data released by the Ministry of Economy, the value of non-oil exports alone amounted to AED170 billion...
- Gold, aluminum, plastics, copper iron and steel are the most important non-oil exports of the country
- The UAE’s top five export destinations include India, Saudi Arabia, Hong Kong, Kuwait and China
Economy
Saudi Arabia looks to boost the country’s GDP to $1.71 trillion
Saudi Arabia seeks to boost its economic output to reach $1.71 trillion, Saudi Investment Minister Khalid Al-Falih said on Wednesday.
- Al-Falih said Saudi Arabia plans to boost the investment rate to 30 percent as compared to the current 22 percent
- The minister said this leap requires efforts to empower the private sector by providing an integrated investment environment
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Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
Business
Company News
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Abu Dhabi leads GCC in integrated waste management
Abu Dhabi Waste Management Centre, aka Tadweer, processed more than 1,860,000 tons of waste, including 88,382 tons of medical and...
Videos
Kuwait renews support for peace initiative in Yemen
Kuwait has reiterated its support for a peaceful solution to the Yemeni conflict that can bring about peace and stability...
Geostrategy
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Economy
European Union pledges €364m in grants to Jordan
The aid packages include supporting human development, civil society, governance, institutional development and green transition.
- The aid packages include supporting human development, civil society, governance, institutional development and green transition
- EU ambassador to Jordan Hadjitheodosiou said that the programme sets the priorities for cooperation between the two nations
Business
QIB partners with Loop
They will promote eco-friendly alternative to personal cars.
- The agreement is in line with QIB’s sustainability principles for urban mobility and encourages the public to reduce carbon footprint to mitigate the effects of climate change
- Loop Mobility is a start-up transforming operations with a revolutionary e-scooter model and supporting national efforts towards building a more sustainable future
Business
Sports sector contributes US$2.45bn to Dubai economy
The sports sector has contributed some $2.45 billion to the Dubai economy in 2021, representing 2.3 percent of the emirate's...
- The DSC chairman said the government’s support for the industry is a key priority in Dubai’s drive to become the best city in the world to live and work in
- The council’s latest strategy focuses on sports clubs, sporting infrastructure, esports, sports tourism, and sports technology