Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...
Economy
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
Business
Economy
Israel gives hospitals $31 million to end partial strike
Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.
- Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding
- Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services
Iran steel production rises 10% in 2021
The country has kept its position as the 10th largest producer of steel in the world this year.
- The performance of some leading Iranian steel companies indicates they exported 916,236 tons of steel in June
- This which indicates a growth of 104 percent compared to June 2020
Business
$1.68 billion weeklong realty deals recorded in Dubai
DUBAI: Real estate and property transactions worth AED 6.2 billion were recorded in Dubai during the week ending Thursday. Dubai...
- The most expensive plot of land sold for AED33 million in Hadaeq Sheikh Mohammed Bin Rashid.
- Jabal Ali First recorded the most transactions for this week by 75 sales transactions worth AED315 million.
Arts & Culture
Saudi women drive public taxis for the first time
Local media showed women picking up customers in the Al-Ahsa governorate.
- Some of the customers booked rides to GCC countries in the neighborhood.
- Saudi Arabia had lifted the ban on women driving in June 2018.
Business
Majid Al Futtaim secures $1.5bn SLL
Women to form 30 percent of board members under agreement.
- The revolving credit facility is the largest in the MENA region.
- Company also plans to have all its malls certified LEED Gold or better.
Business
Qatar gets first batch of Boeing F-15 fighter jets
They were produced by the United States and Boeing in partnership with Qatar itself.
- The rollout took place on Wednesday in a ceremony at Boeing’s headquarters in the US state of Missouri
- Qatar’s Minister of State for Defense Affairs Khalid bin Mohamed Al Attiyah was in attendance
Business
Saudi Arabia taps Alibaba to help Chinese tourists
Alibaba Cloud is expected to help promote Saudi Arabia as a tourist destination to travelers in the Chinese market.
- The deal establishes the framework for a collaborative arrangement for Chinese tourists traveling to Saudi Arabia
- The agreement is part of Saudi Arabia’s strategy to employ the latest technology to deliver seamless traveler experiences
Equate revenue surges 43% in H1
It saw $2.04 billion revenue in the first half of 2021.
- The group reported a net income after tax of $543 million and EBITDA of $869 million in H1 2021
- It has reported $124 million net income after tax and $409 million EBITDA during the same period last year
ACME ammonia plant in Oman
The plant will cost of $3.5 billion and be built in three years.
- The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy
- This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons
Business
Visa signs MoU with AMF
They will explore ways to boost cross-border payments.
- Visa and AMF’s regional payment platform will design optimal solutions to unlock sustainable opportunities in payment industry.
- Visa said the MoU reinforces its commitment to support the evolution of the Arab region and the vital role digital payments plays in this sphere.
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Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...
Economy
Company News
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ISESCO lists 22 Libyan sites as Islamic world heritage
Arts & Culture
UBS partners with Qatar for green project in Gulf country
Qatar Financial Center Authority and UBS Asset Management will collaborate to set up a green sustainable private markets initiative in...
Business
Saudi Central Bank updates its Regulatory Sandbox Framework
The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of...
Business
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Science
New type of proton aurora around Mars observed by UAE mission
Dubai, UAE: The Emirates Mars Mission, the first interplanetary exploration undertaken by an Arab nation, has made first observations of...
- The spatially variable ‘patchy’ proton aurora potentially triggers new insights into unexpected behaviors in the Martian atmosphere.
- This new patchy type of proton aurora is formed when the solar wind directly impacts Mars’ dayside upper atmosphere and emits ultraviolet light as it slows down.
Business
Ashok Leyland bags 1,400-bus order
This is the company's biggest UAE order for school buses.
- The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland’s $50 million manufacturing facility in Ras Al Khaimah.
- Most of the supplies will be made to Emirates Transport and STS Group, a statement from the company said.
Arts & Culture
Qatar’s Museum of Islamic Art to reopen on October 5
One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors...
- One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors to Doha for the FIFA World Cup Qatar 2022
- More than 1,000 objects many newly conserved or acquired will be displayed in the museum's permanent galleries