UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Qatar provides maritime radio station licensing for small ships in Al Khor, Al Ruwais cities
DOHA, QATAR - The Communications Regulatory Authority (CRA) has announced the provision of maritime radio station licensing services for small...
Business
Business
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according...
- The company plans to use the proceeds to support its future plans and increase its solvency margin
- The financial adviser for the offering will be announced once appointed
Business
Aramco bags one-year contract to market Guyana’s crude oil
Aramco has bagged a one-year contract from Guyana to market the crude oil produced in the South American country.
- Guyana became the world's newest energy hotspot when a consortium led by Exxon Mobil Corp began producing crude off the country's coast in late 2019
- It is now producing around 120,000 barrels per day
Business
Saudi Arabia to regulate foreign investment
Looking to protect many sectors of its economy from the competition that the foreign companies will present, Saudi Arabia has...
- Chaired by the investment minister, the new committee will also set the limit for foreign ownership in local companies
- The committee comes as more foreign entities take an interest in entering the Saudi market as part of the government’s push to modernize its economy
Business
Saudi developer taps BMG for $266m IPO on Nomu
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming...
- The Jeddah-based developer has real estate projects in several industries, including entertainment, medicine, and hospitality
- Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock
Business
Abu Dhabi to obtain material for giant solar project from Hitachi ABB
Abu Dhabi will obtain large generator step-up (GSU) transformers, protection and telecommunication systems for the Al Dhafra PV2 Solar project...
- Hitachi ABB to supply GSUs for giant Abu Dhabi solar PV plant
- The project is located about 35 km from Abu Dhabi city and will supply power to Emirates Water and Electricity Company
Business
Saudi Arabia awards $95.4m contract to manage Riyadh water services
Saudi Arabia has awarded a $95.4 million contract to a consortium to manage water services and environmental treatment in Riyadh.
- Contract awarded to Alkhorayef Group and France's Veolia
- Restructuring of Saudi water sector almost complete
Business
GCC witnesses 5.8 percent decline in mobile phone sales in second quarter
Due to supply shortages and high levels of inventory carried over from the first quarter, smartphone shipments to the GCC...
- IDC predicts a 9.4 percent decline in shipments QoQ for the GCC smartphone market in Q3.
- Smartphone shipments were down 5.1 percent and feature phone shipments fell 11.9 percent
Business
Etihad, Sabre renew partnership
Under the new pact, Etihad will leverage Sabre's IT solutions.
- Under the new agreement, Etihad will continue leveraging a suite of Sabre's IT solutions to aid recovery
- Sabre will help Etihad in network planning and scheduling, pricing and revenue management and cargo technology
Business
UAE to establish business council with Estonia
The council will aim to enhance bilateral economic and trade relations between the two countries.
- The MoU was signed by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
- Peeter Raudsepp, CEO of Enterprise Estonia, signed the agreement on behalf of his country
Arts & Culture
Unesco recognizes Saudi marine sanctuary
The UN body has registered the Farasan Island Marine Sanctuary in its Man and Biosphere Program.
- The Farasan Islands are said to support the largest population of idmi gazelle in Saudi Arabia
- They also have high concentrations of greater flamingo, pink-backed pelican, Eurasian spoonbill, and osprey
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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
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Company News
Latest News
ADIB H1 net profit $381m
Business
ADNEC adopts new corporate identity to support economic diversification
A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a...
Business
ADCB green bond raises $500m
The debut bond that will be issued on 14 Sept was oversubscribed 3.8 times.
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...
Business
Most Read
Research
UAE ranks 1st regionally in UNDP Human Development Report
The UAE has ranked 26th globally and first in the Arab world in the 2021/2022 Human Development Report, which is...
- The Human Development Index (HDI) is a summary measure for assessing long-term progress in three basic dimensions of human development.
- The three basic dimensions are a long and healthy life, access to knowledge and a decent standard of living.
Business
Louvre Abu Dhabi, NYUAD sign collaboration agreement in key areas
Abu Dhabi, UAE -- Louvre Abu Dhabi and New York University Abu Dhabi (NYUAD) signed an MoU to collaborate in areas...
- The MoU involves exchanges among faculty, staff, and students through programmes, events, and research projects and mutual access to institutional facilities.
- The two institutions have collaborated on Reframing Museums, a live, virtual symposium on the challenges and responsibilities facing museums in the light of Covid pandemic.
Economy
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...
- The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
- Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.