Prices for utilities, fuels rise 9 percent in June in Saudi Arabia
RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
Economy
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
Business
Business
BitOasis, UAE-based crypto trading platform, raises $30m to fund MENA expansion
BitOasis, the UAE-based crypto trading platform, has obtained $30 million in funding, and intends to use the capital to expand...
- The new funds will be used to expand the company’s presence in the region
- The Series B round was led by Chicago-based VC firm Jump Capital, along with Jordanian startup platform Wamda
Business
Dana Gas doubles its earnings to $256m from its sites in Egypt and Iraq
Dana Gas, the UAE-based natural gas company, has seen its earnings double from its operations in Egypt and Iraqi Kurdistan...
- In the Kurdistan Region of Iraq (KRI), the company’s share of collections from sales of condensate, LPG and gas jumped 77 percent
- The company's earnings have seen a 102 percent jump to $256 million as compared to the same period last year
Economy
Lebanon’s telecom, internet sector could collapse in days
Telecom companies in Lebanon have joined the long list of at-risk industries and institutions because of the financial and economic...
- Touch and Alfa mobile companies and the state-run telecommunications company Ogero operate fixed lines and fixed internet
- The quantity of diesel they have is enough for them to run for only a few days
Business
Aramco’s market value jumps to $2 trillion for the first time in two years
The market value of Aramco has exceeded $2 trillion after its shares vaulted to their highest level since the start...
- The Saudi company helped fuel a rise in the Kingdom's stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today
- Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share
Geostrategy
UAE forms new authority for identity, citizenship
DUBAI: The UAE on Tuesday announced a new Federal Authority for Identity, Citizenship, Customs and Ports Security, which will be...
- The new authority merges Federal Authority for Identity and Citizenship, the Federal Customs Authority, and the General Authority of Ports, Borders and Free Zones Security.
- The Authority will also be responsible for preparing laws, regulations, standards and requirements related to the passports, citizenship.
Business
Apicorp green bonds fetch $750m
Apicorp is a multilateral development financial institution.
- The five-year benchmark issuance was the first green bond in the Mena region issued by an energy-focused investment institution
- It was nearly three times oversubscribed, garnering $2.2 billion in orders from more than 80 investors
Economy
Jordan to support industry with national projects
Jordan’s Ministry of Industry, Trade and Supply will be establishing these projects as part of its implementation of the government's...
- The move is expected to boost the competitiveness of Jordanian industry locally and abroad
- The establishment of the national projects is also expected to include the building of a fund to support and develop local industry
Business
ADGM-registered can now list shares on UAE markets
Entities registered with the Abu Dhabi Global Market or ADGM will now be able to offer and list shares on...
- An MoU was signed between the Registration Authority of the ADGM and the Securities and Commodities Authority or the SCA.
- The agreement aims to reinforce regulatory and supervisory cooperation between the two parties
Business
Kuwait private sector partner in boosting trade ties: UAE chambers
KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of...
- Federation of UAE Chambers and Kuwait Chamber hold a meeting to discuss ways of promoting investment opportunities.
- Kuwait Chamber chairman expects Kuwait-Abu Dhabi cooperation in healthcare, education and food security.
Business
Saudi to punish expats who engage in jobs for personal benefit
The punishments could include monetary penalties, imprisonment, and then subsequent deportation.
- Any self-employed expatriate who engage in jobs for their own personal benefit could be fined SAR50,000 (around $13,300), jailed for six months
- The self-employed expatriate would be deported after serving the jail term and the payment of fines
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Prices for utilities, fuels rise 9 percent in June in Saudi Arabia
RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
Economy
Company News
Latest News
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...
Economy
US team explores ways to boost economic ties with UAE
The delegation, led by Governor Spencer J. Cox, included over sixty prominent Utah government officials, business executives, and community leaders,...
Business
Continuous effort required to protect ozone layer, says UNEP
The UNEP noted a global temperature rise of 2.5C was possible if the ozone-depleting chemicals weren't banned, which would have...
Science
Most Read
Geostrategy
Saudi Arabia, Oman ministers discuss industrial cooperation
Oman Minister of Commerce along with a delegation met Saudi Arabia Minister of Industry where the two discussed industrial cooperation...
- The two sides deliberated on Saudi Arabia's experience in managing and operating industrial cities.
- The two sides discussed Made in Saudi program and the financing aspects.
Geostrategy
World Green Economy Summit to discuss food security
The eighth World Green Economy Summit (WGES) will explore ways to improve global food security, sustainability of the food systems...
- WGES brings together global decision-makers and influencers to share their experiences to mitigate global food crises.
- The UAE plays a crucial role in addressing the issues relating to global food security.
Geostrategy
UAE, Uruguay discuss cooperation in various fields
Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed with Uruguay's Minister of Livestock, Agriculture and Fisheries Fernando...
- The Speaker of the Federal National Council is leading a UAE parliamentary delegation on an official visit to Latin America from September 12 to 22.
- The 10-day tour includes Brazil, Uruguay, Paraguay and Colombia and aims to promote strategic partnerships with the UAE.