UAE Ministry of Energy joins National ICV Program
DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
Business
SEWA, US delegation explore collaboration in innovation, sustainability
Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and...
Geostrategy
Business
Iraq to rid its power woes with solar energy
Iraq has signed a deal with China to build a set of solar power plants that would produce 2,000 MW...
- The first plant will have a capacity of 750 MW, and the country will add more plants until it hits the 2,000 MW target
- Writing on a blog Iraq’s prime minister Mustafa Al-Kadhimi said this was one of the first such projects in the country
Geostrategy
EU ready to cooperate with Iran
EU Foreign Policy Chief Josep Borrell had a conversation with Iranian Foreign Minister Hossein Amir-Abdollahian in this regard.
- The EU urged Iran to set date for the next meeting on nuclear talks in Vienna
- The participation of an EU representative in the Iranian president’s inauguration ceremony showed EU determination
SRMG taps Japanese firms
It has struck a content deal with Japanese publishing houses.
- The partnership will enable SRMG to establish official channels with Shogakukan, Shueisha, and Kadokawa
- This will let it adapt and localize global content for Arab audiences
Business
Saudi banks cheer recovery with surge in loans
Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting...
- Saudi lenders increased their loan books by a net 13.1 percent from the previous three months
- Average return on equity was 11.0 percent
Business
More women in EGA management
EGA plans to have women in 25% of its supervisory roles.
- Two members of EGA’s Executive Committee are women
- EGA also employs more than 400 women around the world
Business
Obhur Bay, the go-to spot for pleasure seekers
To beat the sizzling summer heat, Obhur Bay is a go-to destination for many in Saudi Arabia. It is a...
- Surfing takes on a unique characteristic in the bay, as, in order for people to safely enjoy the sport, they are required to be highly skilled in terms of guiding the board
- Boat and jet ski competitions are also held throughout the year, and many resorts and hotels are found along the 11-km-long bay
Science
UAE begins Unit 2 of Barakah Nuclear Power Plant
The United Arab Emirates has unveiled Unit 2 of the Barakah Nuclear Energy plant, located in Abu Dhabi’s Al Dhafra...
- Unit 2 will be connected to the national electricity grid in the coming months
- When fully operational, the four units of the plant will produce 5.6 GW of electricity while preventing the release of more than 21 million tons of carbon emissions every year
Business
Plot of land on Red Sea sells for $352.7m
In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company's "Arjuwan Red Sea Project"...
- The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district
- The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah
Business
Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.
- Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
- The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Economy
Jadwa says Saudi economy to fare better
Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the...
- Jadwa predicts growth of 1.8 percent, revising previous estimate of 1.3 percent
- Non-oil private sector growth seen at 4.4 percent
UAE Ministry of Energy joins National ICV Program
DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
Business
Company News
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UAE keen to work with global partners to address energy issues
A senior UAE official at the Ministry of Energy and Infrastructure said that his country is committed to collaborating with...
Geostrategy
Saudi Arabia eyes partnerships to accelerate growth of digital economy
Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
Economy
Ajman Bank and Mastercard collaborate to launch Touch Card
Ajman Bank and Mastercard have partnered to launch Touch Card, a payment card that will allow blind and partially sighted...
Business
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Business
Market cap of Egypt’s bourse vaults by US$2.7bn in August
In spite of monetary policy tightening, Egypt has seen the market capitalization of its stock exchange vault by $2.7 billion...
- The market capitalization of listed companies’ shares grew 8.2 percent in August to $35.63 billion from $32.91 billion by July end
- The total value traded during the month reached $5.2 billion, with a total of 6.6 million securities executed
Economy
World food prices drop for fifth consecutive month: FAO
The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar...
- The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar - were lower in August than in July
- FAO said the decline in cereal prices reflected improved production prospects in North America and Russia
Business
TAQA to buy AlMansoori
The Saudi firm will buy UAE company for an unknown sum.
- The buyout is part of company's plan to expand TAQA’s Well Services business into the wider Middle East and North Africa region
- AMPS will add complementary products and services to TAQA’s portfolio, including Early Production Facilities, Well Testing, Slickline, and Marine Stimulation Vessels