UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...
Geostrategy
Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...
Business
Arts & Culture
Saudi Arabia initiative to support entertainment sector
Saudi Arabia has launched the Makers of Happiness initiative to support the entertainment sector in the country in various ways.
- The initiative was launched by the General Entertainment Authority’s Board of Directors’ Chairman Turki bin Abdulmohsen Al Al-Sheikh
- AlThe Happiness Makers initiative aims to qualify and train human cadres specialized in the entertainment sector
Science
Digital currency can speed up global payments: CBUAE
The CBUAE has in a study found that central bank digital currencies can substantially improve international trade payments.
- The findings come from a report that has been generated from the first Multiple CBDC Bridge (mBridge) Project
- This project is a step closer to making cross-border trade payments easier, safer, and in real time
Business
East Pipes Integrated plans IPO
The Saudi Arabia-based company gets approval to float 6.3 million shares.
- The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus
- 6.3 million shares to be floated as the measure has been approved by Saudi Arabia’s Capital Market Authority
Science
UN fund urges rich nations to pay $100bn a year in climate finance to poor countries
Rich countries must deliver on a promise to channel $100 billion a year in climate finance to developing nations, otherwise...
- The call by Yannick Glemarec comes as about 50 climate ministers meet in Milan, Italy, on Thursday to hammer out details and tackle differences on the pace of green transition
- The pre-COP26 summit in Milan this week is the last major UN meeting before negotiators head to Glasgow
Economy
Saudi employers prefer men over women in Q2 as unemployment rate dips
Saudi males found securing jobs was easier than women in the kingdom in the second quarter of 2021, lowering unemployment...
- According to estimates of the General Authority for Statistics (GASTAT) based on the Labor Force Survey, the unemployment rate of the total working age Saudi population decreased
- Unemployment rate among Saudi men went down noticeably by 1.1 percentage point to 6.1 percent in the second quarter of 2021 from 7.2 percent in the previous quarter
Business
EDB to push Ajman growth
The EDB-Ajman MoU is in line with the Make it in the Emirates Campaign.
- Under the terms of the agreement, EDB will support SMEs registered at Ajman Free Zone, in line with its applicable policies and procedures
- In addition, the companies operating in the free zone will be given access to the bank’s key programs, financing solutions, and other facilities
Business
ABHGA readies $13bn investment
This agreement can be considered the start for several projects.
- This agreement aims at increasing the level of cooperation between the public and private sectors to achieve the objectives of Vision 2030
- The areas of cooperation between ABHGA and NIDLP, subject to this agreement, includes establishing a joint framework
Economy
2021 a year of recovery in oil market: OPEC Sec Gen
Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process...
- Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process in the global oil market
- The Secretary General also stressed the need to remain cautious and attentive to an ever-evolving market situation
Economy
Saudi MSMEs get new three-month payment respite
The Deferred Payment Program was launched on March 14 last year, as Covid-19 was spreading across the world. According to...
- The respite is in the form of the extension of the Deferred Payment Program for the MSMEs
- The initiative is one of the many Private Sector Financing Support Programs the central bank has launched to help the economy
Business
Bahrain launches region’s fastest global sea-to-air logistics hub
Bahrain expects this to be the most efficient multimodal sea-air transshipment hub in the region with a global reach.
- The hub is said to have a turnaround time of just two hours for all containers
- This means products can be with customers in half the time and at 40 percent of the cost
UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...
Geostrategy
Company News
Latest News
UAE FM meets Israeli Finance Minister, discusses economic cooperation
Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a...
Geostrategy
Abdullah bin Zayed meets Benjamin Netanyahu
UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Israeli Opposition Leader and former...
Geostrategy
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Geostrategy
South Korea to enhance ties with hi-tech firms in Middle East
South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s...
- The focused hi-tech industries in the Middle East are energy, hydrogen, artificial intelligence and health.
- The South Korean Foreign Minister said that they are trying to upgrade their ties with all the countries.
Geostrategy
GCC-India ink MoU for consultations mechanism
India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the "mechanism of consultations"...
- The MoU was signed between India’s Minister for External Affairs Dr. S Jaishankar, and the GCC Secretary-General Dr. Nayef Falah Mubarak Al-Hajraf.
- India’s Ministry of External Affairs said, "both sides reviewed bilateral relations and discussed ways to enhance them"
Business
Dubai records weeklong realty transactions worth $2.49 billion
Dubai, UAE---A total of 2,317 real estate transactions worth AED8.9 billion ($2.49 billion) were conducted during the week ending 16...
- A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.
- The top three transactions were plots of land in Madinat Al Mataar that sold for AED988 million, AED259.24 million in Al Yufrah 1 and AED988 million in Madinat.