Sharjah group to discuss trade boost with India in five-day trip
SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday...
Business
Upcoming Jewels of Emirates Show set to be largest in its history
Sharjah, UAE - The upcoming fourth edition of the Jewels of Emirates Show, the UAE’s first of its kind showcasing...
Business
Geostrategy
Israeli fire kills Palestinian boy in West Bank
On Monday, Israel launched airstrikes against Gaza after incendiary balloons launched from the strip started fires in the country’s south....
- The latest escalation of tension follows weekend border clashes in which dozens were injured.
- In May, Israeli airstrikes against Gaza killed 260 Palestinians, while munitions fired by militants killed 13 people in Israel.
Business
Jordanians tiff over copper mine in ‘natural reserve’
A public spat has broken out in Jordan over the decision to mine for copper in parts of the Dana...
- The Royal Society for the Conservation of Nature said it opposed any redrawing of the boundaries and that it would take “all legal and escalatory measures under Jordanian law”
- Dana is Jordan’s largest natural reserve, covering some 320 sq km of mountains and wadis along the Great Rift Valley.
Business
Iran to upgrade homemade Bavar 373 missile system
Iran unveiled the indigenously-designed surface-to-air Bavar 373 missile defense system in August 2019.
- Iran’s Deputy Defense Minister Brigadier General Mahdi Farahi made the announcement
- This is a new edition that may be at the same or higher level than S400
Geostrategy
Tunisian parliament’s suspension extended
President Kais Saied's also extended an order lifting immunity for the country’s lawmakers.
- His decision to sack government and suspend parliament last month has sparked condemnation.
- President Kais Saied's also extended an order lifting immunity for the country’s lawmakers.
Economy
Developing countries to get $275bn of IMF reserves
Managing Director IMF Kristalina Georgieva said the largest allocation in history, about $650 billion in Special Drawing Rights, was a...
- The IMF's last SDR distribution came in 2009 when member countries received $250 billion in SDR reserves to help ease the global financial crisis.
- The possibility of a new trust is being explored, which could use channeled SDRs to help the most vulnerable countries with structural transformation.
Business
ADNOC signs $1bn deals with eight global contractors
Agreements have been signed for concept and front-end engineering design.
- 50 percent of project value can potentially flow back into UAE economy.
- The agreements signed with eight global engineering contractors will run for five years.
Geostrategy
Iran to get $300m Japanese loan to upgrade oil refinery
Japanese Foreign Minister Toshimitsu Motegi said this assistance would be in the form of low-interest loans.
- The pledge was made during Motegi’s trip to Baghdad, the first by a Japanese foreign minister since 2006
- The financial aid will be used to expand one of Iraq’s major refineries in Basra
Economy
Saudi Arabia set to build two 600MW solar plants
The plants will be built on land plots with a total area of 12 million sq m in Jeddah and...
- The projects will be handled through the Saudi Authority for Industrial Cities and Technology Zones Modon
- They are part of the country’s plan to generate 50 percent of its energy from renewables
Business
Saudi anti-concealment law violators get grace period
The period has been extended from August 23, 2021, to February 16, 2022, with violators looking at fines of around...
- The Saudi Ministry of Commerce has already given a six-month grace period once to violators of the anti-concealment law
- Several enterprises, whose annual revenues exceeded SR6 billion ($1.6 billion), benefited from this
Business
Egypt’s exports vault 22 percent to $17.70bn
Egypt’s non-oil exports leaped up by 22 percent during the first seven months of 2021, posting $17.70 billion as compared...
- In July 2021, Egyptian non-petroleum exports rose by 4% to $2.95 billion, from $2.21 billion in July 2020
- The non-petroleum imports increased slightly by 11% to $42.39 billion during the seven-month period ended July 31st, 2021
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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
Sharjah group to discuss trade boost with India in five-day trip
SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday...
Business
Company News
AD Ports Group, SEG sign MoUs
Business
Latest News
Realty, banking blue chips continue to power UAE markets
Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively.
Economy
Sharjah Chamber set to organise ‘Al Maleh and Fishing’ Festival
The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be organizing "Al Maleh and Fishing" Festival in...
Arts & Culture
Saudi bank loans to public and private sectors grow 14% by July end
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 14 percent by the end of...
Economy
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Business
DMCC welcomes 15 companies for training program
Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies...
- The program will support the growth of impact-driven businesses that align with the United Nations Sustainable Development Goals.
- The program is a part of the DMCC’s wider Environmental Social Governance strategy
Business
Museum of the Future’s online store creates global connections
Dubai, UAE - The Museum of the Future has been connecting with people globally through its online store, offering memorabilia...
- The store offers memorabilia inspired by the museum’s design and exhibits, and gives a glimpse into its rich experiences.
- The museum contains products designed in innovative, artistic ways that reflect the spirit of the museum and its values.
Infographics
UAE offers low-risk business climate
Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.
- Country risk assessment is the process of determining a nation's ability to transfer payments.
- It takes into account political, economic and social factors. It is used to help organizations make strategic decisions when conducting business in a country with excessive risk.