Sharjah’s Sabaa Sanabel wheat gets Made in the UAE mark
SHARJAH, UAE -Â Sabaa Sanabel wheat flour, made from the wheat produced here, has become the first national product to...
Business
KEZAD, Tubacex to build Middle East’s first OCTG-CRA manufacturing facility
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi – KEZAD Group on Friday announced the signing of a land...
Business
UAE, Israel ink deal for digital health solutions
DHI 2048 organisation launched in UAE is the part of latest cooperation to strengthen the ties between the UAE and...
- DHI 2048 organisation launched in UAE is the part of latest cooperation to strengthen the ties between the UAE and Israel
- Over Two billion dollars to be deployed in the next four years on healthcare equipment, training and AI based technologies
Ethiopia to build local rival to Facebook, other platforms
Social media services have previously been closed in the country over the past year
- Social media services have previously been closed in the country over the past year
- According to Statista, Ethiopia has about 6 million Facebook users
Oman lifts travel ban on India, Pakistan, Bangladesh
Fully-vaccinated passengers from 21 countries can now travel to Oman, according to a new circular issued by the country’s Civil...
- All those coming to Oman are required to present a Covid-19 vaccine certificate
- The certificate must contain a QR Code stating that they have received two doses of an Oman-approved vaccine
Marafiq to sell power from Oman plant
The power production at the plant will start in November.
- The plant will have a capacity of more than 80MW and be built in Duqm
- It will aim to meet the energy requirements of Tanweer, which is part of the Nama Group
Business
Bahrain’s rich own half of its total wealth
Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).
- Ultra high-net-worth individuals (UHNWIs), who are valued at $100m or more are expected to own 44pc of overall financial wealth in the kingdom by 2025
- the upper high-net-worth ($20m to $100m) and lower high-net-worth ($1m to $20m) individuals are expected to own 9pc and 15pc of financial wealth in the kingdom respectively by 2025
Business
Kuwait looks to regulate local used-car trade market
The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.
- Local authorities were recently alerted to people in the country with up to 50 vehicles in their names
- These people were apparently trading in used cars without a proper license
Business
Abu Dhabi Judicial Department pulls up banks over loan guarantees
Failing to take guarantees is a violation of the requirements and controls regulating the granting of loans, said the department.
- In many cases already filed, courts found the guarantee provided by a borrower not proportional to the value of the loan
- In some other cases, banks apparently disbursed money against the borrower’s guarantee or his identification papers only
Business
Abu Dhabi’s IHC looks at ‘few billion dollars’ deals
International Holding Co (IHC), Abu Dhabi’s largest conglomerate, is looking at acquisitions of various companies in different sectors.
- IHC, now the most valuable company on the Abu Dhabi bourse with a market capitalization of $72bln, is also considering a 2022 IPO
- IHC is also looking at three or four targets in the food sector, as well as eyeing targets in the healthcare and leisure and retail sectors
Business
Qatar’s Islamic lender buys 5% stake in Al Rayan
Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding...
- The Islamic lender’s shareholding in Al Rayan rises to 75 percent
- This represents a purchase of 5,000,000 ordinary shares of GBP1 par value
Business
Iran eyes Caspian Sea gas reserve for Europe supply
The exploration is being carried out by the Khazar Exploration and Production Company, or KEPCO.
- The Chalous Superstructure Drilling and Exploration project is expected to be completed over the next couple of years
- It will apparently be the second-largest natural gas block in the Caspian Sea, just behind the Alborz structure
Sharjah’s Sabaa Sanabel wheat gets Made in the UAE mark
SHARJAH, UAE -Â Sabaa Sanabel wheat flour, made from the wheat produced here, has become the first national product to...
Business
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Arts & Culture
UAE, India FMs stress close ties at Joint Committee meeting
The UAE top diplomat said that the ongoing dialogue between the two countries has led to the launch of the...
Geostrategy
Saudi Arabia eases visa rules for GCC, US, UK, EU residents
The regulations came into effect after the minister of tourism Ahmed Al-Khateeb signed on a ministerial decree, making it easier...
Economy
Work begins on world’s first model of green steam cracking unit
Riyadh, Saudi Arabia--SABIC, BASF and Linde have begun work on the construction of the world's first model of an electrically...
Business
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Business
Markets volatile, world economy likely to grow 3.2% in 2022
As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.
- Global investors need to factor in how demand and supply chains will impact trade around the world
- The ongoing stop-and-start recovery from COVID has also disrupted global supply chains, leading to more instability in economies all around the globe
Geostrategy
UAE calls for global solidarity at environment ministers meet
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the Joint Environment and Climate Ministers’...
- The UAE Minister spoke of forging regional and global partnerships to tackle environmental and climate challenges proactively
- She said that the outcomes of the meeting will be further pushed at the G20 Summit in October in Indonesia
Business
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...
- The collaboration intends to develop a joint vision for the initiative with the objective of establishing Qatar as a center for environmentally sustainable investments
- To give a boost to the partnership Qatar will make an initial seed investment of up to $500 million