Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
Geostrategy
Brazilian-Saudi Investment Forum witnesses inking of 25 MoUs
SAO PAULO, BRAZIL - The Ministry of Investment organized here the Brazilian-Saudi Investment Forum, which saw the signing of many...
Business
Geostrategy
Crown Prince of Abu Dhabi receives Qatari minister as relations warm up
The diplomatic relations between the two countries have shown a fair degree of warmth in recent months, after a few...
- The meeting took place at Al Bahr Palace, where the Crown Prince received the Qatari guest
- The discussions also touched upon how to serve the interests of their nations
Expo 2020 DUBAI
Cisco shares vision for a digital future at Expo 2020 Dubai
Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground...
- Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground systems
- Aligned with Expo 2020’s theme of ‘Connecting Minds, Creating the Future’, The Cisco Grove illustrates how smart, intuitive networks can create greater connectivity
Business
Jebel Ali Free Zone buzzes with trade
Jebel Ali Free Zone has been buzzing with activity this year because of a huge jump in the number of...
- In a statement, Jafza said it continued to attract businesses despite the ongoing pandemic because of the business park’s location
- The free zone is considered Dubai’s major source of foreign dire investment (FDI) inflows, accounting for 23.9 percent of total FDIs
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
Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
Geostrategy
Company News
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Ghitha Q2 profit $21.95 million
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...
Business
Dubai’s RTA earns US$10.12m from auction of number plates
Dubai's Roads and Transport Authority (RTA) fetched $10.12 million from the auction of distinctive vehicle number plates at Grand Hyatt...
Business
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Business
Muscat Stock Exchange trading value up 5.5 percent in a week
Muscat, Oman - The value of trading on the Muscat Stock Exchange increased last week to 9.6 million Omani riyals...
- The rise came at a time when investors tended to diversify their portfolios, taking advantage of the declines in stock prices.
- Trading data showed a decline in the prices of 40 securities last week, compared to 15 securities whose prices increased.
Economy
Saudi NDF pumped $7.45 billion into Covid relief measures
Riyadh, Saudi Arabia— The National Development Fund (NDF) of Saudi Arabia has since March 2020 financed SAR28 billion ($7.45 billion)...
- Â Initiatives from the Social Development Bank and Kafalah Program were introduced to finance small and emerging enterprises specialized in health care and education.
- The Fund launched an initiative to postpone outstanding debts and restructure the soft loans for 33 developing countries worldwide to ease their burden.
Business
ISO Annual Meeting 2022 to begin Monday in UAE, trade on agenda
The International Organization for Standardization (ISO) Annual Meeting 2022 starts Monday at the ADNOC Business Center in UAE's Abu Dhabi.
- Hosted by UAE Ministry of Industry and Advanced Technology (MoIAT), the ISO Annual Meeting 2022 runs from September 19 to 23.
- The event will witness the participation of over 2,000 delegates physically and virtually.