UAE, Peru sign air services agreement to promote bilateral trade
Lima, Peru - The UAE and Peru signed an air services agreement for cooperation between the two countries and promote...
Business
Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record...
Business
Economy
Saudi Arabia’s PIF, Tadawul Group plan carbon trading platform
Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Its purpose is to align with regulatory entities to develop methods, business models, and governance practices to reduce climate change effects
Business
Saudi state media companies to move from Dubai to Riyadh
The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East...
- The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East headquarters in any other country
- According to reports, Al-Arabiya and Al Hadath TV channels have informed their employees that they plan to broadcast 12 hours a day from Riyadh by next January
Business
True Global Ventures closes blockchain fund at $100m
The TGV 4 Plus fund, which has been oversubscribed, focuses on blockchain firms primarily in late-stage equity funding Series B...
- TGV is funded by 40 partners who contribute 27%, along with a number of entrepreneurs, business angels, family offices and institutional investors
- Many limited partners of True Global Ventures are based in the Middle East
Economy
Leaders mull Arab Center for Food Security
The 22-member Arab League and its legislative body, the Arab Parliament, are planning to establish a food-security body.
- The organization would be expected to enhance social and economic security in the region
- It would also be expected to achieve sustainable development goals in Arab countries
New Oman mall to create 3,500 jobs
The Mall of Oman is said to be the country’s largest complex of its kind.
- The Mall of Oman has the only IMAX experience in the country
- It will soon have global cafés and restaurants that offer more than 50 dining options
LinkedIn to drop Stories format
Stories is expected to be removed from LinkedIn by September.
- In doing so, LinkedIn will follow Twitter, which earlier this year discontinued a similar experiment called Fleets
- One big way the Stories format differs from TikTok or Reels of Instagram is these short-video formats do not see the message disappearing after 24 hours
Business
Tehran able to sell oil despite US sanctions, says minister
The US imposed its harshest sanctions on Iran three years ago as Washington, under President Donald Trump, unilaterally abandoned an...
- One of the ways to do this is to swap oil for goods or investment
- This potential solution can also be used in other sectors and industries
Business
Iran cuts natural gas exports to Iraq as per a six-month agreement
The decision is said to be based on an agreement with Iraq, and apparently follows prior notification. Iran used to...
- Iran notified the Iraqi side about this reduction two weeks ago
- This export cut will continue for up to six months
Business
Israel opens Chinese-operated $1.7bn port in Haifa
The port, to be operated by Shanghai International Port Group, is expected to bring competition to a sector plagued by...
- It is expected to enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel
- About 99 percent of all goods move in and out of Israel over sea, and an upgrade is needed to maintain economic growth
Economy
Egypt gained most from Islamic Development Bank in 2020
IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.
- IsDB gave out around $6.8 billion to various nations last year
- Egypt’s share in that, at $1.13 billion, amounted to around 17 percent
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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, Peru sign air services agreement to promote bilateral trade
Lima, Peru - The UAE and Peru signed an air services agreement for cooperation between the two countries and promote...
Business
Company News
Latest News
UAE approves code for education professionals
The UAE Ministry of Education has approved the Code of Conduct for professionals in the sector to set up clear,...
Economy
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Economy
Qatar Central Bank issues treasury bills valued $164m for Sept
Doha--Qatar Central Bank (QCB) has issued treasury bills for September 2022 for three, six and nine months, with a value...
- The duration of the bills is three, six and nine months with interest rates ranging between 1.09 percent and 2.22 percent.
- This issuance came as part of the Qatar Central Bank's monetary policy initiatives and its efforts to strengthen the financial system.
Geostrategy
Blinken welcomes appointment of new UN envoy to Libya
US Secretary of State Antony Blinken has welcomed the appointment by UN Secretary-General Antonio Guterres of Abdoulaye Bathily as Special...
- Blinken took to Twiiter to say that US supported efforts to mediate an agreement in order to establish a constitutional framework and timeline for elections in Libya
- The Security Council on Friday approved former Senegalese minister and U.N. diplomat Abdoulaye Bathily as the new U.N. envoy to Libya, ending a nine-month vacancy
Business
ADX partners with FTSE Russell
The two have co-developed the FTSE ADX Growth Market Index.
- The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index (FADX15)
- The ADX Growth Market, the new brand of the Second Market, is an emerging equity segment on the exchange that connects investors and privately owned businesses