Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
Geostrategy
e& HI profit up 2.5%
Business
Chimera Capital unveils new ETF
Business
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
Economy
Business
UAE flights to help 1m Mideast tourists visit Brazil
Before the pandemic, around 75 percent of the tourist traffic between Brazil and the Middle East were to and from...
- These will be direct flights from the UAE to Brazil’s Amazon and the Northeast regions
- Brazil’s tourism minister has said more Brazilians would love to visit the UAE once the new flights are launched
Business
Khalifa Fund network to help Abu Dhabi SMEs
The network, called the AD SME Tribe, will enable the growth of enterprises through community-focused guidance.
- The new initiative reportedly aims to create a dedicated community through which SMEs can connect with stakeholders
- These stakeholders may include service providers, policymakers, and Abu Dhabi’s priority sector leaders
Business
$1.93 billion worth of weekly realty transactions made in Dubai
Real estate and property transactions worth AED 7.1 billion ($1.93 billion) were recorded in Dubai during the week ending October...
- A plot of land sold for AED 33 million in Hadaeq Sheikh Mohammed Bin Rashid.
- The highest number of transactions, valued at AED 126.61 million, were recorded in Al Hebiah Third.
Business
Brazil plans to attract 1 million tourists from Middle East by 2024
Brazil's tourism minister has said the country is planning to attract about a million tourists from the Middle East in...
- Brazil is in touch with Emirati officials for operating more direct flights to Amazon and northeast regions, says tourism minister.
- Annual outbound and inbound tourist traffic from Brazil to the Middle East is around 125,000 and 120,000 respectively at present.
Business
Saudi Arabia-led consortium takes over Newcastle United
"Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with...
- Earlier on April 9, 2020, the investment group, which also includes PCP Capital Partners and Reuben Brothers, made a bid for the north-east club
- This deal collapsed in July 2020 due to the Premier League's concerns over alleged Saudi broadcast piracy
Economy
Jordan talks economic cooperation with Denmark
Jordan’s Minister of Planning and International Cooperation Nasser Shraideh, have held discussions with Danish Minister of Development Cooperation Flemming Mortensen...
- Jordan has called on Denmark to increase the support it gets, and focus on economic and employment opportunities programs
- Denmark said it is ready to continue supporting Jordan and searching for additional ways to strengthen bilateral relations
Business
Utico lands Hassyan project deal
The MoU was signed at the WETEX and Dubai Solar Show.
- Utico and Siemens have signed an MoU for the engineering, supply, and services for an independent water project in Hassyan
- By capacity, this will be Siemens’ largest desalination plant project to date in Dubai
Economy
UAE announces Net Zero by 2050 strategic initiative
The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
- The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
- The Ministry of Climate Change and Environment will lead and coordinate efforts to execute the initiative
Business
Kuwait to tap parks, open spaces for investment
The Kuwaiti cabinet has instructed the Public Authority for Agricultural Affairs and Fish Resources to plan for this.
- The Kuwaiti cabinet has also ordered the parks authority to allocate plots for organizing entertainment activities and events
- These will happen in the agricultural areas of Al-Wafra in the south and Al-Abdali in the north
Business
Sheikh Maktoum says UAE enjoys high financial solvency, credit profile
The UAE continues to enjoy high financial solvency as well as a strong credit profile, minister of finance Sheikh Maktoum...
- Al Maktoum's statement comes as the Ministry of Finance confirms the issuance of a multi-trance bond offering.
- The new bond package, comprising of tranches of 10, 20 and 40 years, will be issued for a subscription.
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Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
Geostrategy
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e& HI profit up 2.5%
Business
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Business
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Sharjah Chamber suggests measures for strengthening PPPs
The Sharjah Chamber of Commerce and Industry (SCCI) has recommended several measures to strengthen the emirate’s public-private partnerships (PPPs).
Economy
Qatar deepens partnership with Iberdrola Innovation
Qatar science and Technology Park (QSTP) has deepened its partnership with Iberdrola Innovation Middle East by signing an agreement to...
Business
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Economy
S&P updates its outlook for Saudi Arabia to positive
In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings...
- In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings to A-/A-2
- S&P expects the kingdom's GDP to grow to a ceiling of 7.5 percent in 2022 with an expected financial surplus in the state budget of about 6.3 percent
Geostrategy
Saudi Arabia provides US$1m in assistance to UNAOC
Saudi Arabia has provided $1 million in assistance to the United Nations Alliance of Civilizations (UNAOC) for supporting its work...
- The kingdom's permanent representative to the UN, Abdulaziz bin Mohammed Al-Wasel, handed over the assistance to High UN High-Representative for the Alliance of Civilizations
- The ambassador praised the body for strengthening the role of multiple diplomacy, at a time when the world has an urgent need to establish the values of coexistence
Economy
Saudi Arabia chairs coordination meeting of GCC labor ministers in Cairo
The meeting discussed the agenda of the 48th session in addition to a number of other issues pertaining to GCC...
- The meeting discussed the agenda of the 48th session of Arab Labor Conference kicking off on Sunday
- The conference extends until 25 September with the participation of the heads of delegations from 21 Arab countries.