International Military Forum Army-2023 opens in Moscow
MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here. About 1,500 prominent...
Geostrategy
ADFD finances $105.4m energy security project in Tanzania
ABU DHABI, UAE - The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of...
Geostrategy
Economy
Arab region natural gas demand growing at ‘fastest’ pace: OAPEC
Demand for gas in the region eclipses global demand by more than twofold, the second highest in the world in...
- Power generation in the region forms 52 percent of total consumption, with the region's energy transition plans heavily reliant on LNG import projects
- The bloc espoused the merits of LNG output expansion in improving energy efficiency by up to 39 percent as part of efforts to reduce dependence on oil and petroleum products
Business
IHC of Abu Dhabi acquires 51 percent of Bin Suhail Group to form beauty joint venture
International Holding Company (IHC), Abu Dhabi conglomerate, has agreed to acquire 51% of Bin Suhail Group through a subsidiary to...
- IHC subsidiary Multiply Group, owner of beauty brands such as Bedashing, will merge with Bin Suhail Group
- The joint venture will operate under newly-established Omorfia Group, in which IHC will own a controlling 51% stake
Economy
Saudi eyes $100bn yearly in foreign investment as part of Vision 2030 plan
The NIS is expected to raise annual FDI flows to $103.47 billion and increase annual domestic investment to $286.33 billion...
- The National Investment Strategy is expected to increase annual domestic investment to 1.7 trillion riyals by 2030
- The strategy will be ‘a key enabler; of the Vision 2030 plan, announced in 2016 to diversify the economy of the world's biggest oil exporter
Business
World’s first Warner Bros. hotel to welcome guests in November on Yas Island
Miral in collaboration with Warner Bros. announced today that The WB Abu Dhabi hotel on Yas Island, operated by Hilton...
- Visitors can stroll through the lobby or admire 360-degree city and sea views alongside their favorite props and costumes from Warner Bros. films and TV shows
- And kids and families can ring up one of their favorite Looney Tunes characters for a room service treat brought to them by the Wascally Wabbit, Bugs Bunny himself
Infographics
Qatar, Saudi Arabia lead GCC in education spend
Qatar and Saudi Arabia lead the GCC countries when it comes to spending on education.
- Qatar has in absolute terms spent more per capita for education than any GCC nation since 2016
- However, when it comes to absolute totals and the share of the GDP spent on education, Saudi Arabia leads the pack
Arts & Culture
‘World’s largest’ Byzantine-era winery in Israel
The facility in Yavne, south of Tel Aviv, produced two million liters of wine each year.
- The site is said to be comprised of five wine presses sprawling over a square kilometer (0.4 sq mile)
- The produce was known as "Gaza and Ashkelon wine" due to the nearby ports from which it was exported
Business
Air traffic in UAE leaps up 24.5% in September as thousands flock to Expo 2020
The General Civil Aviation Authority (GCAA) has announced that the average aviation activity in the country rose from 1,238 flights...
- Saif Mohammed Al Suwaidi, Director General, said that the aviation activity in the UAE witnessed a significant increase prior to the Expo 2020 Dubai
- The GCAA's report also showed the country’s national carriers travel to 108 countries, benefitting from the logistical services provided by ten registered airports
Expo 2020 DUBAI
Oman’s pavilion draws visitors eager to learn about investment in the country
More than a hundred thousand people paid visit to Oman’s pavilion in the first nine days of Expo 2020, according...
- Over 12,400 people visited the pavilion daily, a figure considered "an excellent indicator" during the first week of the mega event
- People were briefed about the country’s investment opportunities and were shown displays of modern technologies and sound management
Business
Post merger, Emaar Properties and Emaar Malls form a single company
Shareholders of Emaar Properties have approved the merger of the company with Emaar Malls, according a bourse filing.
- Shareholders also approved during the General Assembly on Sunday the proposal to increase Emaar Properties’ share capital to $2.2 billion
- Emaar Malls’ net profit reached 622 million dirhams during the first six months of 2021, up by 80 percent from 345 million dirhams during the same period in 2020
Economy
Natural experiments bring Nobel Prize to three US economists
Card’s studies of core questions for society and Angrist and W Imbens’ methodological contributions have shown that natural experiments are...
- One half has been awarded to David Card “for his empirical contributions to labor economics,” which is rooted in natural experiments
- The other half is for Joshua D Angrist and Guido W Imbens, “for their methodological contributions to the analysis of causal relationships”
International Military Forum Army-2023 opens in Moscow
MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here. About 1,500 prominent...
Geostrategy
Company News
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Agthia’s profit surges 74%
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ADNOC Drilling gains 2 contracts
Business
Amanat Holdings profit up 7%
Business
Dubai realty market records realty deals worth $435m Tuesday
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED 1.6 billion ($435 million) on Tuesday, according to Dubai...
Business
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...
Infographics
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Business
Mubadala discovers gas reservoir offshore Malaysia
Abu Dhabi, UAE---Mubadala Energy has discovered a good quality gas reservoir penetrated by the Cengkih-1 exploration well in Block SK320,...
- The company said preliminary analysis shows a significant gas column of more than 110 metres within the pinnacle carbonate reef reservoir.
- Mubadala Energy is the Operator of Block SK320, with 55 percent participating interest in the Production Sharing Contract.
Geostrategy
OIC Secretary General meets US Ambassador-at-large for religious freedom
The two discussed ties between OIC and the United States in view of the strategic dialogue meetings which took place...
- The two discussed ties between OIC and the United States in view of the strategic dialogue meetings which took place in Washington last May were reviewed.
- The meeting also exchanged viewpoints regarding the situations of Muslim societies and minorities in non-OIC countries and the phenomenon of Islamphobia.
Business
Al Sagr, Gulf Union may merge
The two insurance firms will have discussions on the merger.
- After the proposed merger is completed, Gulf Union Alahlia will issue new shares to Al Sagr Insurance shareholders in exchange for all issued shares of Al Sagr
- After the two will have conducted all necessary due diligence, Gulf Union Alahlia and Al Sagr will determine the share-for-share exchange ratio