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
European LNG imports fall to lowest level since start of Ukraine war
Brussels, Belgium - Europe's liquefied natural gas (LNG) imports fell to the lowest level since the start of the Russian...
Business
Arts & Culture
Press freedom efforts get Nobel Peace Prize
Journalists Maria Ressa from the Philippines and Dmitry Muratov from Russia have been awarded the Nobel Prize for Peace for...
- The Nobel committee noted that it would be difficult to promote global fraternity and disarmament without freedom of the press
- This year’s award of the Nobel Peace Prize is therefore firmly anchored in the provisions of Alfred Nobel’s will, it said
Business
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp.
- FedEx Express will invest more than SAR1.5 billion ($400 million) into the Saudi economy over the next 10 years
- This investment will be through talent management as well as local operations and infrastructure
Expo 2020 DUBAI
Kuwaiti artist paints images of Gulf achievements, patriotism at Expo
Through the use of sand and light to the sound of music, Kuwaiti Sulaiman Al-Enezi portrayed images of great accomplishments...
- Sulaiman Al-Enezi depicted developments leading up to the launch of UAE-backed Mars mission Hope Probe.
- The artist has been an avid sand artist since childhood but got into lighting recently.
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
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
Company News
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stc profit jumps to $1.6bn in H1
Business
Record volume handled by Saudi ports in eight months: Mawani
Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) handled record tons of volume at the Kingdom's various ports from Jan-Aug this year....
Business
Treated sewage water improves wheat growth, production in UAE
A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...
Research
Dubai reduced carbon emissions by 21 percent in 2021
The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
Economy
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Economy
UAE financial restructuring body holds second meeting
The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.
- The meeting discussed the development of the financial reorganization service.
- It deliberated on the best ways to communicate relevant information about financial restructuring procedures.
Business
IHC acquires stake in Burjeel
The 15% stake in Burjeel will diversify healthcare investment.
- IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
- The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business
Women complain of bias in accounting profession in MENA
In a diversity, equity, and inclusion (DE&I) study in the MENA accounting profession, 63 percent of women across each of...
- The diversity, equity, and inclusion (DE&I) research study focuses primarily on gender, nationality, and ability within the MENA region
- 83 percent of respondents with a disability and 53 percent of female respondents have left an employer due to a lack of DE&I