AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
Business
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...
Business
Economy
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi...
- About 1.6 million establishments in the Saudi employment market are registered under the program.
- Under Updated Nitaqat, the number of economic activities will be reduced to 32 from 85.
Al Zorah selling new Ajman plots
Th plots are part of phase 2 of The Fairways project in Ajman.
- This phase of the project is said to feature a total of 90 townhouses, 71 villas, and 33 buildings
- All of them will be overlooking the golf course and the Al Zorah Mangrove
Economy
Saudi output growth dips to weakest level in 10 months
Saudi Arabia’s output growth dipped to the weakest level for ten months amid a slowdown in new business gains.
- August PMI data from IHS Markit survey data showed a fall to 54.1 in August
- The non-oil sector weakened in August with output expansion at its weakest in 10 months
Geostrategy
UAE, Brazil discuss cooperation in space field
UAE’s Ambassador to Brazil, Saleh Ahmed Al Suwaidi, discussed the ties with Brazilian space agency AEB’s President Carlos Moura. He...
- The two countries discussed various possible areas for cooperation in the space sector
- Brazil also thanked the UAE for its inclusion of space-science topics in Expo 2020 Dubai
Business
UAE seeks $150bn in foreign investments, eyes stronger trade ties in Asia
The United Arab Emirates is seeking to lure $150 billion in foreign investments as part of a broad nine-year plan...
- The UAE currently ranks first in the Arab world and in the region and 15th globally in the Kearney FDI Confidence Index for 2021
- The eight countries include South Korea, Indonesia, Kenya, Ethiopia and Turkey. The relations between Turkey and the UAE are showing signs of improvement
Business
UAE to let foreigners ‘live and work’ under green visas
The United Arab Emirates has decided to give out new visas allowing foreigners to settle in the emirates.
- Visas announced during launch of UAE's 'Projects of the 50' initiative
- The Green visas will allow entrepreneurs and other professionals to live and work in the UAE
Business
DP World, FESCO to study Russia berth
Vladivostok and Murmansk identified as transshipment hubs.
- The berth will help expand Vladivostok Commercial Seaport as a transshipment hub connecting cargo from East Asian countries to North-West Europe via the Northern Sea Route.
- A record 33 million tons of cargo was carried along the route in 2020.
Business
Amazon Web Services will help firms drive innovation: Dubai FDI
DUBAI: The Dubai Investment Development Agency (Dubai FDI), the investment promotion agency of Dubai Economy, has said Amazon Web Services’...
- AWS plans to open data centers in the UAE in 2022.
- The new AWS Middle East (UAE) Region will consist of three Availability Zones and become AWS’s second region in the Middle East.
Investigation
$5m fine for polluting water in Saudi Arabia
Saudi Arabia has launched a strict campaign of penalizing companies and individuals involved in polluting water resource of the kingdom....
- Raft of tough regulations in campaign to protect the Kingdom’s marine environment
- The new rules ban the removal of rocks, pebbles, beach sand and marine sediment
Economy
UAE posts fastest job growth in three years
The UAE has recorded a sharp growth in employment for the first time in more than three years, with a...
- Output levels increased in August due to an improvement in demand as the economy recovered from COVID-19 restrictions
- The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, dipped to 53.8 in August from 54.0 in July
AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
Business
Company News
Latest News
ADJD notarization, authentication transactions jump in August
The Abu Dhabi Judicial Department (ADJD) has achieved a record surge in total notarization and authentication transactions carried out in...
Economy
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...
Geostrategy
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Business
Tabby launches in Egypt
The shopping app looks to widen its market in MENA.
- Tabby works with multiple brands to offer flexible payments at checkout
- It is currently ranked among the top 10 shopping apps in the Middle East with more than 2 million active shoppers
Business
DMCC puts on display world’s largest pink diamonds at DDE
DMCC has hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the "Williamson...
- The 11.15 carat flawless pink diamond started its roadshow in Dubai, one of the world’s leading diamond trade hubs
- Expected to fetch over US$21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its incredible purity
Business
Saudi Arabia appoints new crypto chief to further its digital program
The kingdom is the largest economy in the Middle East, making it a key market for any firm operating in...
- Until now, Saudi had shown a circumspect approach on virtual assets, as officials questioned the speculative nature of them.
- With the emergence of UAE as a global crypto hub, Saudi displayed urgency to draft formal rules pertaining to the asset class.