UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Qatar provides maritime radio station licensing for small ships in Al Khor, Al Ruwais cities
DOHA, QATAR - The Communications Regulatory Authority (CRA) has announced the provision of maritime radio station licensing services for small...
Business
Husqvarna Construction gets new GM
With this, the company eyes growth in the MEA region.
- Jeff Bennett’s broader responsibilities include achieving rapid growth in emerging markets, and shaping the company future
- He is also expected to spearhead the organization’s efforts to arrive at a competitive position in the MEA region
Business
Work starts on Egypt’s $9bn high-speed train
Work began on Egypt's $9 billion first high-speed train project, connecting the Red Sea coast with the Mediterranean coast, across...
- Egypt began implementing its first high-speed train project
- The Egyptian contracting companies are completing the preparation of the road
Business
Dubai Metro to open Jumeirah station on Sept 1
The station would be opening well ahead of the beginning of the Expo 2020 Dubai events, which it will be...
- The station is expected to be able to serve 11,555 riders per hour during peak times, and about 250,000 riders per day
- It has two train-boarding platforms, four bus stops, and 20 taxi stands to pick up and drop off riders, along with hundreds of free parking spaces in its surroundings
Geostrategy
Syrian workers head home as Lebanon collapses
The World Bank has already called Lebanon’s economic crisis one of the worst in the world since the mid-1800s.
- Just food for a family of five in the country costs five times the minimum wage
- The Lebanese pound has degraded to around 10 percent of its value against the dollar since November 2019
Business
Abu Dhabi Media taps STARZPLAY to stream AFC matches
Enthusiasts may buy a subscription of 2 sports channels for AED15 (a little more than $4) or the entire STARZPLAY...
- From September, the matches are expected to be streamed on STARZPLAY
- The streaming will start with the Asian qualifying matches for the FIFA World Cup 2022 in Qatar
Economy
Foreign investment in Saudi markets rose 150% in Q2
The sectors in the country that attracted the most foreign investment were banking, basic items, energy, and communications.
- Saudi Arabia was granted membership of the World Trade Organization in 2005
- This is opened up the country to ever-increasing investments from foreign parties
Arts & Culture
National Museum of Beirut gets Unesco polish
Unesco’s Li Beirut initiative has been working for three months to inspect the museum’s artefacts for inventory, classification, and storage.
- The National Museum of Beirut is gearing up to reopen to the public after being damaged in last year’s port blast
- Now, with Unesco’s help, it is gearing up to display artefacts that could date back to the Bronze Age or be from the Ottoman period, and anywhere in between
Business
Turkey buys drones from firm where Erdogan kin is CTO
The drones have been made by Baykar, whose CTO is the son-in-law of Tuekey’s president.
- The UAVs, called Akinci, have been made by private drone-maker Baykar
- The Turkish military on Sunday took delivery of these drones, whose name means “raider” in Turkish
Economy
Iran to build 6 million homes for underprivileged
The decision came from the country’s Constitutional Council, which is tasked with finalizing parliament legislation.
- Iran’s new President Ebrahim Raisi has already promised to build 4 million houses until the end of his term in 2025
- The government is expected to provide 60 percent of the funds needed to build a housing unit
Business
Etisalat to partner with GMIS on 5G
The UAE-based company will share practices at GMIS 2021.
- The GMIS is being held at Expo 2020’s Dubai Exhibition Centre.
- Discussions will focus on government , society, women in leadership and the UAE’s Operation 300bn.
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Company News
Select Group buys hotel in UK
Business
AD Ports, Hayat Biotech ink deal
Business
Latest News
EGA, K Line green pact
Business
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