Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
Business
Business
UAE to cut fuel prices from September 1
The United Arab Emirates will slash prices of petrol and diesel from September 1 amid the easing of Covid pandemic...
- Fuel committee announces latest price adjustments
- Fuel prices have been up for the past several months
Science
Yemen receives first shipment of J&J Covid vaccine
Yemen is desperately short of Covid vaccines to inoculate its population, with as little as one percent of its population...
- This shipment is the first batch of a total of 504,000 doses
- Roughly one percent of the population is vaccinated
EGA sees $473m profit in H1
This was the company’s strongest H1 financial performance ever.
- EGA supplied some 442 customers in 57 countries with metal in the first half of 2021
- In the UAE, the company supplied 140,000 tons of metal to local customers
Economy
Saudi net foreign assets dip by $4.4bn in July
Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.
- Investments in foreign securities edge higher
- A country’s net foreign assets are a vital indicator of its economic health and a measure of its ability to support its currency’s peg to the dollar..
Business
Jeddah asks traders to stick up QR code on shop fronts
Aiming to improve the quality of services and goods provided to Jeddah resident, the Municipality has called on businesses to...
- “The mandatory service is part of the modern services launched by the Ministry of Municipal, Rural Affairs and Housing through the ‘Balady’ platform”
- the QR code aims to improve the quality of services and goods provided to Jeddah residents by promoting effective digital communication
Economy
Saudi exports leap up 40 percent to $6.2bn in June
Saudi non-oil exports recorded a 40 percent jump, the highest-ever monthly level, in June 2021, touching $6.2 billion.
- Exports in June went up by 40 percent from a year ago
- According to the Saudi Export Development Authority (Saudi Exports) the number in June includes exports of products worth SR21 billion
Geostrategy
Former housing minister Iran’s new atomic energy chief
Mohammad Eslami, who previously served as housing and transport minister, replaces the country’s most prominent nuclear scientist Ali Akbar Salehi
- Eslami, a US-trained engineer, has no expertise in the field.
- Salehi had played a crucial role in the nuclear deal diplomacy.
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi.
- The acquisition is from joint venture partner Mubadala Infrastructure Partners
- The deal brings ownership of Tabreed in the scheme to 100 percent
Science
Abu Dhabi directs residents to take Covid booster shots
Residents of Abu Dhabi have been directed to take a booster shot of the Sinopharm Covid vaccine by September 20,...
- The booster dose must be taken to enhance immunity and comply with approved health protocol
- Those who don’t receive the third jab will lose their green status on the UAE’s Al-Hosn App
Business
Demand for lithium boosts Tianqi’s net profit
In a boost to China's Tianqi Lithium Corp, one of the world's top lithium producers, it posted its first net...
- China's Tianqi Lithium Corp posted its first net profit in two years on Sunday
- net income was 85.8 million yuan ($13.3 million) for the first half of 2021
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
Business
Company News
EGA, K Line green pact
Business
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Gulf countries witness dip in unemployment rates
Infographics
Saudi banks’ assets surpass UAE peers first time since 2007
Based on June data of Saudi and UAE central banks, the aggregate assets of Saudi banks (3.529.1 trillion) exceeded those...
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...
Economy
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...
Geostrategy
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Economy
Bahrain launches multi-entry e-visa for training purposes
Bahrain has launched a multi-entry e-visa for training purposes, allowing a holder to stay in the kingdom for six months.
- The Nationality, Passports and Residence Affairs (NPRA) said the visa is part of the 24 initiatives to enhance the NPRA services and the economic recovery plan
- The visa could be applied for on www.evisa.gov.bh for a fee of BD60
Business
Saudi import of plastic products climbs 18% to 456,000 tons
The import of plastic products into Saudi Arabia has shot up 18 percent to 456,000 tons in the second quarter...
- According to the General Authority for Statistics, the increase in imports was fueled by a 45 percent yearly rise in imports from China
- The total plastic and rubber imports grew 19 percent to $1.89 billion in the second quarter of 2022
Geostrategy
Lebanon arrests five agents suspected of killing Syrian detainee
Shocked at the death of a Syrian detainee in custody of security officials, Lebanon has arrested five State Security agents...
- The State Security agents arrested Bashar Abdel Saud on August 31 and took him to an agency facility in Bint Jbeil in southern Lebanon for questioning with other detainees
- According to a source the agents wanted to extract a confession from the deceased suspect that he was a member of the Islamic State though he continued to deny the allegation