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
UAE finance ministry unveils new corporate taxation rules
ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the...
Geostrategy
Cyclone Shaheen: UAE state agencies monitoring weather conditions
According to the National Centre of Meteorology (NCM) latest forecasts, the movement of Tropical Cyclone Shaheen will continue towards the...
- Dr Taher Al Ameri, the NCEMA spokesman, urged the public not to visit beaches and valleys during the upcoming period
- The spokesman urged those living in the eastern coastal areas to follow all procedures and measures as announced by the competent authorities at the local level
Business
Galaxy Racer eyes Pakistan market
The UAE-based Esports company has over 400 million subscribers.
- The Esports company has over 400 million subscribers worldwide
- The company is aiming for a Nasdaq listing in the next three years
Geostrategy
Male candidates sweep Qatar’s first legislative polls
Male candidates were elected in all 30 of the seats up for election despite 28 women initially being cleared to...
- Women candidates fail to break through in Qatar vote for the Shura Council
- It is not known when the appointments will be announced, or when the council will meet
Business
Sharjah, Guatemala explore ways to boost trade, cultural ties
Sharjah and Guatemala have held discussions on enhancing trade exchange relations and joint investment opportunities in vital sectors like tourism,...
- Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR) in Sharjah, hosted a high-level Guatemalan delegation
- Malouf, who is also the head of the Guatemalan delegation at the ongoing Expo 2020 Dubai, was accompanied by Lars Pira, Guatemala's Ambassador to the UAE
Business
UAE and India resolve to strengthen ‘deep economic ties between the two countries’
The United Arab Emirates and India have resolved to strengthen ‘the deep economic ties between the two countries,’ while noting...
- Both sides recognized the collaboration between India and UAE during this difficult period and appreciated the leadership provided by the two countries
- At the meeting, discussions were also held on exploring mutually beneficial methods and incentives to facilitate further investment from UAE sovereign investment entities
Economy
S&P revises Oman’s credit rating to positive on the back of fiscal improvement
S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will...
- Long-term foreign currency credit rating was affirmed at B+
- S&P said it could raise its ratings on Oman over the next 12 months if planned fiscal reforms and stronger economic growth sustainably reduce fiscal imbalances
Geostrategy
Iran bans LG and Samsung home appliances
The import of home appliances made by these two South Korean companies is now banned by Iran, following an apparent...
- Iran’s Supreme Leader Ayatollah Khamenei ordered the ban in response to a call by local producers
- Their request followed Khamenei’s insistence in recent years to ramp up local production of goods and banning the import of similar products
Economy
Saudi Arabia to have budget surpluses from 2023: Ministry of Finance
Saudi Arabia is confident that it will have budget surpluses from 2023 with the kingdom’s economy showing a “noticeable and...
- Saudi Arabia will post a surplus of about $7.2bln in 2023, rising to $11bln in 2024, the ministry said
- Government revenue will slip to SR903 billion in 2022 from SR930 billion in 2021, but will have reached SR992 billion by 2024
Tropical storm ‘Shaheen’ poses threat to many coastal areas in MENA
The tropical depression deepened to the Tropical Storm "Shaheen" in the northeast of the Arabian Sea along the Indian-Pakistani coasts...
- The tropical storm is expected to deepen into a category 1 tropical cyclone within the next 24 hours
- It is expected that the eastern coast will be affected from Saturday night with a Stromsburg, especially with the period of high tide at low areas
Analysis
Expo 2020 opens doors of hope for humanity
With the stunning opening of Expo 2020, the UAE has proved that it can explore the future that would open...
- The opening ceremony of the Expo 2020 Dubai, which represented a harmonious and impressive mixture, brought together the whole world with its various spectrums
- The event started a new era of excellence and achievement for our dear country in light of the Year of the 50th amid unprecedented domestic, Arab and international media attention
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
Company News
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Arab Bank H1 profit $252m
Business
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...
Economy
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...
Geostrategy
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
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Science
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...
- The United Nations Environment Program (UNEP) praised the Protocol’s success, as it ended the danger of ozone layer's depletion, a threat for humanity.
- It said the global cooperation worked, and the gases were eliminated. This healed the ozone layer which would save earth from sun's ultraviolet radiations.
Business
Jebel Ali Free Zone propels automotive markets growth
Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million...
- Jebel Ali Free Zone (Jafza) logistics infrastructure and global trade network have connected African, Asian and Middle Eastern traders to consumers globally.
- With companies from 70 countries and a workforce of nearly 8,000, Jafza’s infrastructure and trade volumes are an attraction for industry giants.
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.