SPC Free Zone to provide licenses within 45 minutes
SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses...
Business
Tehran to issue 20 million more Justice Shares
Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization...
- The value of the portfolios of shareholders, which are estimated to be 49 million, has grown nearly ten times.
- The number of state-owned enterprises that were supposed to be privatized under the justice share program is now 49, valued at $21.8 billion.
Iran detects 5,380 illegal energy-guzzling crypto farms
The power consumption of the farms equaled that of 2 million people.
- A farm that consumed 4 percent of the country's electricity was discovered in June.
- Iran has banned mining of cryptocurrencies till September 22.
Economy
Iran’s mega housing project faces infra hurdles
The one-million housing project is part of Iran’s plan to provide a total of six million houses for its underprivileged...
- Iran is trying to implement the one-million housing project to deliver affordable houses to its populace
- However, the lack of infrastructure, such as water, electricity, and gas, could pose a serious challenge to this project
Business
WhatsApp users may encrypt backups
FB was recently accused of breaching WhatsApp users’ privacy.
- Mark Zuckerberg has announced that WhatsApp will let users encrypt chats they choose to back up
- The facility will be available for users of devices that can run Apple’s iOS and Google’s Android
Economy
MarsRise to colonize Mars by becoming the next MoonShot
MarsRise is a deflationary token found on the Binance Smart Chain, which comes with an automatic liquidity pool growth, and...
- MarsRise is a deflationary token found on the Binance Smart Chain, which comes with automatic liquidity pool growth, and therefore the holder rewards through transaction taxation
- It has automated Liquidity and its Strategic Buyback is distributed to the locked liquidity on every transaction, making MarsRise one of the best in this game
Jordan’s gaming app Jawaker sold for $205m to Stillfront Group
The popular Jordanian online card game studio, Jawaker, was bought by global gaming company Stillfront Group in a $205 million...
- The game studio operates a hub with more than 30 products, and over 50% of Jawaker’s users play two or more games every week using the app
- The buyout allows Stillfront Group to strengthen their foothold in the MENA region
Business
Saudi Arabia decides to accept IATA Travel Pass
IATA Travel Pass is a personal secure digital wallet solution that helps travellers understand travel requirements and present their verified...
- IATA and Saudi Arabia are working to restore international travel.
- More than 80 airlines have announced trials of the IATA Travel Pass
Business
Saudi Arabia to host region’s first poultry event of its kind
The first Middle East Poultry Exhibition and Conference will be held under the theme Contribution of Enhancing Food Security.
- The event will be held at the Riyadh International Convention and Exhibition Center from March 14 to 16, 2022
- It aims to be a landmark event for the scientific and commercial exchange in the poultry industry at the local and regional levels
Biden calls Xi to ease friction in US-China ties
President Joe Biden spoke with China’s Xi Jinping on Thursday amid growing frustration on the American side that high-level engagement...
- The White House is hopeful the two sides can work together on issues of mutual concern despite growing differences
- The White House is hopeful the two sides can work together on issues of mutual concern — including climate change and preventing a nuclear crisis on the Korean Peninsula
Business
Egypt eyes $1bn investments as Africa Finance Corporation member
Egypt, the most populous nation in North Africa, has already seen some investments from the AFC.
- Founded in 2007, the AFC is dedicated to investing in private sector infrastructure projects across Africa
- It is said to have invested $8.7 billion in projects in 35 African nations since its establishment
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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
Company News
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Saudi delegation visits Jordan’s Petra to enhance cooperation
A delegation from Saudi Arabia's Royal Commission for AlUla (RCU) visited Petra on Tuesday to advance cooperation between the two...
Geostrategy
Oman issues Treasury Bills worth $103 million for 91 days
Muscat, Oman---The government of Oman issued Treasury Bills worth Omani Riyal 40 million (US$103 million) for a period of 91...
Economy
Shapoorji bags Majid Al Futtaim deal
The US$217.4m contract covers construction of 808 villa sets.
Business
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Geostrategy
UAE takes part in G20 Health Working Group in Indonesia
UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia...
- The UAE ministry's delegation highlighted the importance of promoting solidarity among member states to better meet essential health needs.
- The delegation said UAE is ready to cooperate with Indonesian officials to expand vaccine manufacturing and research hubs for pandemic prevention.
Business
Mubadala Petroleum rebranded
The company achieved the 500,000-boed milestone this year.
- In 2017, Mubadala Energy shifted its strategy to natural gas, a transition that saw the company realize key projects.
- Other major gas projects include Mubadala Energy's operated Pegaga gas field in Malaysia.
Economy
Qatar grows its suite of world-class hotels with new openings this month
The Wyndham Grand Doha West Bay Beach, St. Regis Marsa Arabia Island and the Rixos Hotel Doha will soon unveil...
- The Wyndham Grand Doha West Bay Beach, St. Regis Marsa Arabia Island and the Rixos Hotel Doha will soon unveil an exciting range of culinary concepts
- Being the host nation of the first-ever FIFA World Cup in the Gulf later this year, Qatar is using the event to fulfil its goal of attracting over 6 million visitors a year