Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
Geostrategy
Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
Geostrategy
Business
Bitcoin may touch $100,000 in Q1 of 2022
Standard Chartered has forecast that Bitcoin will touch the magical figure of $100,000 in the first quarter of 2022, and...
- On Wednesday, Bitcoin was trading at a little more than $46,000
- Ethereum and Binance Coin were trading at $3,413 and $409, respectively
Business
Eltizam Group buys Inspire Integrated for $10m
Continuing with its expansion strategy, Eltizam Asset Management Group, a subsidiary of the Abu-Dhabi based International Holding Company, acquired Inspire...
- Acquisition part of ltizam Asset Management's expansion strategy
- Inspire Integrated, which will continue to operate under the same name, specializes in infrastructure and real estate solutions
Research
Saudis count the cost of technology overuse
As the use of the modern technology deepens in Saudi Arabia, its adverse effects are being felt across the gender...
- Ithra program sounds alarm on sleep loss amid warnings of tech overuse
- The initiative comes as digital overuse and screen addiction are blamed for problems ranging from behavioral disorders in children to insomnia in adults
Business
UAE-led consortium gets $250m for gas plant in deal with DFC
The consortium, called Pearl Petroleum Company Limited, is led by Dana Gas and Crescent Petroleum, both of which are from...
- Pearl Petroleum’s financing from DFC is expected to boost its work at the Khor Mor gas plant in the Kurdistan Region of Iraq
- Proceeds from the seven-year financing are expected to support an increase in gas production capacity at the plant by 50 percent
Science
Aramco to partner with Aveva for sustainability
Aramco, with this partnership, will focus on driving sustainability in the region through digital transformation.
- The partnership will help Aveva establish its largest digital hub, with R&D capability, in the Middle East
- It will also enrich Saudi Arabia’s knowledge economy by incorporating research from prominent universities across the kingdom
Empower cools Uptown tower
Empower is servicing 3,850 RT at the skyscraper.
- DMCC was keen to build the Uptown project according to the Leadership in Energy and Environmental Design gold standards
- As a result, it is now supplied with environmentally friendly cooling services of sustainable global standards
Economy
Iran spends $620m to mechanize agriculture
That amount reportedly equals 87 percent of the total budget allocated to a credit line for agricultural mechanization.
- The money has been used to supply agricultural machinery, tools, and equipment
- These have been supplied in fields like horticulture, livestock, poultry, and aquaculture
Bahrain’s digital transactions touch $3.62bn in H1
Bahrain’s central bank has revealed that cashless transactions in the country has surged 50 percent to $744 million in August, after...
- The total number of payments made online and through point-of-sale (POS) machines reached 11.3 million during the month
- The first half of the year saw a total of 53 million cashless payments valued at $3.62 billion, posting a 45.6 percent growth rate
Business
Aramex creates two business arms
Company also creates regional structures, each headed by a VP.
- While Aramex Express will handle the business-to-consumer (B2C) operations, the Aramex Logistics will serve the business-to-business (B2B) segment.
- Each region in new structure will be led by a regional vice-president.
Demand for food in GCC to shoot up by 2025
Demand for food in the Gulf Cooperation Council (GCC) will reach 52.4 million metric tons (MT) by 2025, up from...
- The UAE and Saudi Arabia account for 75 percent of the GCC’s food consumption and demand for specific sectors is growing
- GCC governments have also been investing across international farmlands in Ethiopia, Madagascar, Mali, Serbia, Sudan, Zambia, Tanzania to establish strong trade relations and incre
Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
Geostrategy
Company News
WPS Index: Poor show by most MENA countries
Infographics
Latest News
Khalifa Fund to launch e-commerce program for entrepreneurs
Abu Dhabi, UAE-- Khalifa Fund for Enterprise Development has officially announced the launch of the E-Commerce Acceleration Programme, a training...
Business
Investcorp leads Pre-IPO round in TruKKer
TruKKer is one of the region’s largest online trucking aggregator.
Business
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Economy
UAE meets 42% of Japan’s crude oil needs in July
Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab...
- Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab countries
- Saudi Arabia contributed 28.47 million barrels, which is 35.1 percent of the Japanese crude needs
Business
Saudi allows duty-free markets at air, sea and land ports
Riyadh, Saudi Arabia -Saudi Arabia has approved the establishment of duty-free markets, when necessary, at air, sea and land ports...
- The decision will allow sales to travelers coming to and departing from the Kingdom.Â
- The Saudi Cabinet also reviewed the Kingdom's participation in G20 ministerial meetings, held in Bali.
Geostrategy
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...
- PDTRA Chairman briefed the Saudi delegation on the authority's efforts to develop tourism in Petra.
- The delegation toured the rose-red city and looked firsthand at the Petra By Night program, the flying taxi and other projects.