Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
Economy
UAE Ministry of Energy joins National ICV Program
DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
Business
Economy
No end to Lebanese woes as new govt. hikes gasoline price
If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government...
- The government has promised action to address the crisis, including talks with the IMF and a start to reforms
- The new government has also signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit of the central bank
Business
Unifonic to focus on profit, IPO, after securing $125m SoftBank funding
Days after securing a $125 million Series B funding from SoftBank, the Saudi startup, Unifonic, says that it wants to...
- The main criterion is to maximize the company’s profitability and the appropriate market in terms of the quality of the products we offer
- Unifonic, which currently has offices in Saudi Arabia, the UAE, Jordan and Pakistan, plans to expand its customer engagement offering into new markets in the Middle East and Africa
Saudi mining law may pave way for ‘incredible’ investment in $1.3trn sector
Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad...
- In January, the Kingdom moved to capitalize on the vast wealth hidden below ground in Saudi Arabia with the establishment of a mining fund
- The Saudi Industrial Development Fund is also offering 60 percent loans to investors in a bid to attract global players into the Kingdom
Business
$6bn merger for Ooredoo arm
The merged company will be called PT Indosat Ooredoo Hutchison.
- PT Indosat, the Indonesian arm of Qatari telecom firm Ooredoo, will be merged with and PT Hutchison 3 Indonesia
- H3I is a telecom company owned by Hong Kong-based CK Hutchison Holdings
Business
Adnoc eyes 2GW hydrogen growth
Adnoc has inked deals with British Petroleum and Masdar for this.
- Under the terms of the agreements, Adnoc, BP, and Masdar will on UK and UAE clean hydrogen hub development
- This development will be at an initial scale of 1GW in the UAE and 1GW in the UK
Science
No Covid test to enter Abu Dhabi for UAE residents
The committee will continue to monitor events and urges all citizens, residents and visitors to continue adhering to precautionary measures...
- The decision follows the announcement of a decreased COVID-19 infection rate in the emirate
- The government has also activated the green pass system to enter some public places
Economy
UN needs another $100trn for SDGs
The Force for Good initiative has said the UN has funding gap of $84-101 trillion in achieving the SDGs.
- The 17 SDGs are goals that the UN set forward in 2015, which would be accepted by all its members states, to build a better planet
- They include, but are not limited to goals like No Poverty, Zero Hunger, Good Health and Well Being, Quality Education, and Gender Equality
Business
Messi, Neymar’s club PSG to play in Riyadh Season Cup
PSG boasts a stellar line-up, with the likes of Lionel Messi, Neymar, Kylian Mbappé, and Sergio Ramos taking to the...
- The tournament will be played in January next year as part of the second edition of Riyadh Season
- The event, which celebrates the city, will be held from October 2021 to March 2022
Economy
UAE paradigm shift: Equal pay for both genders
On September 18, the UAE joins countries worldwide in celebrating International Equal Pay Day. It was approved by the United...
- The country was ranked 18th in the Gender Inequality Index (GII) of the UNDP Human Development Report 2020
- The UAE was ranked first across the Arab world in the World Economic Forum Global Gender Gap Report for 2021
Economy
UAE, UK partner to counter illicit financial flows
The partnership offers a platform to build a stronger and more enduring strategic partnership, advancing the priorities laid out in...
- The agreement is part of the new Partnership for the Future between the two countries
- The partnership will enhance intelligence sharing and joint operations against organised crime networks
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
Economy
Company News
Arada H1 property sales up
Business
Latest News
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...
Business
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...
Geostrategy
Qatar Central Bank’s foreign currency reserves rise to $59bn in August
Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special...
Business
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Business
ADCB green bond raises $500m
The debut bond that will be issued on 14 Sept was oversubscribed 3.8 times.
- The bond was 3.8 times oversubscribed after attracting local, regional, and international investors that placed total orders of over $1.9 billion.
- The bank said it has embedded ESG into its corporate strategy and has aligned its sustainability approach to the UAE’s ambitions for an inclusive, net-zero economy.
Business
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...
- The total number of transactions according to SRERD records, during the past month amounted to 2,409.
- Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million.
Business
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
- The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
- DEWA has launched several pioneering projects and programs for the employment of Emiratis.