CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
Business
Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
Business
Geostrategy
Saudi Arabia and Qatar review bilateral relations
In a sign of further improvement in the strained relations between Saudi Arabia and Qatar, Sheikh Tamim Bin Hamad Al-Thani,...
- Earlier, the Saudi interior minister visited the Doha National Command Center
- During the reception, they reviewed bilateral relations and the existing security cooperation between both countries
Science
Boursa Kuwait launches ESG reporting guide
Through it, the bourse aims to drive the embrace of Corporate Sustainability in the Kuwaiti capital market.
- The guide will introduce the ESG universe to companies listed on the stock exchange
- It will also highlight the benefits of ESG disclosure and best practices
Business
UAE economy forecast to grow 4% this year
The United Arab Emirates has forecast for its economy to grow by more than four percent this year, a level...
- Minister Abdulla bin Touq says over 30,000 jobs will be created
- The central bank had forecast 2.5 percent growth in December. Economic growth fell to around 6 percent in 2020
Business
Own a share of Dubai property for as little as $136
If you are an investor, you can now own a share of Dubai property for as little as $136.
- SmartCrowd lowers minimum investment from $545 to $136
- Regulated by the Dubai Financial Services Authority (DFSA), the firm has so far distributed 1.3 million dirhams in rental income to investors who have put their money in more than
Zamil Industrial unit wins AC deal
The contract is to supply AC systems to Saudi schools.
- Zamil Industries unit Zamil Air Conditioners has got the contract from Tatweer Buildings Company
- The contract is worth SAR44.1 million ($11.7 million)
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital.
- Emaar EC will now put the approval plan to shareholders' vote
- This will happen at the extraordinary general meeting to be held on September 12
Business
Aramco rebar facility opened
IKK Mateenbar will produce non-corrosive fiberglass rebar.
- New corrosion-free material could support the kingdom in achieving its carbon neutrality targets.
- Extreme temperatures and high levels of salinity make the kingdom one of the most corrosive environments for steel rebar.
Economy
Iran gives free electricity to 10m users
This happened as part of a program aimed to change the attitudes of household consumers towards the proper use of...
- This is part of the Power of Hope program, which entails rewarding efficient subscribers with a 100 percent discount on their bills
- The Iranian Energy Ministry program has reduced the number of high-consuming subscribers across the country by 6.1 percent
Arts & Culture
American falcon sells for $467,000 in Saudi auction
The falcon was 16.5 inches both long and wide, and weighed 980 grams.
- An ultra-white Gyr Qarmousha Falcon, less than a year old, was sold for SAR1.75 million (around $467,000)
- It came from a noted international breeding facility called the Pacific Northwest Falcons farm, located in the US
Economy
Oman launches laboratory for food security
The laboratory falls within the framework of the "Invest in Oman" program.
- The lab is aims to design of a strategic investment program for the food security sector in Oman
- This will happen in partnership with relevant governmental and private institutions, businessmen, and investors
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
Business
Company News
Latest News
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
Most Read
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