PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
Business
Environment ministry reclassifies 64 air quality monitoring stations in UAE
DUBAI, UAE - As part of the Year of Sustainability initiative, UAE Ministry of Climate Change and Environment (MOCCAE) has...
Science
Business
Saudi SMES exempted from commerce register fees
Eligible for exemption are those wishing to issue a new trade register from the financial equivalent for three years and...
- Startup costs for commerce fees register decreased by 96 percent for companies, according to ministry of commerce.
- Decrease in commerce fee register for enterprises decreased from 33-75 percent.
Business
UAE introduces 22 new licenses under Basic Industries Project
The project promotes local industrial investment in key sectors such as medical, food, steel, cement.
- A total investment of AED 286 million has been reported by ADDED, IDB in the new licenses.
- IDB seeks to add 50 new local industrial facilities over the next three years.
Ajman Chamber, China’s Dahua explore tech investment opportunities
The two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
- The two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
- Dahua is a leading Chinese tech solutions provider specialising in video surveillance products, data security, alarms, motion sensors and access control
UAE, Philippines explore space sector collaboration
To this end, the UAE Space Agency hosted the Philippines Ambassador to the country along with a virtual delegation from...
- To this end, the UAE Space Agency hosted the Philippines Ambassador to the country along with a virtual delegation from the Philippines Space Agency
- Meeting comes as UAE and Philippines recognise 47-years of bilateral relations
Science
Riyadh clears Moderna vaccine for people aged between 12 and 17
Saudi Arabia has approved the use of the Moderna Covid-19 vaccine for people aged between 12 and 17. The kingdom's...
- Clinical studies and reports showed the vaccine's effectiveness and safety
- The Moderna COVID-19 vaccine was registered in the Kingdom on July 9, 2021
Business
Egypt looks to neighbors, and beyond, for power supply
In order to make sure that Egyptians get an uninterrupted supply of electricity, Egypt has taken steps to strengthen power...
- The ministry is studying a huge project for power linkage with Cyprus, Crete and Greece
- Shaker said the launch of power projects to connect with Libya is a strategic goal for the two countries
Business
Uber Reserve launches in Dubai
Allows riders to book rides up to 30 days in advance.
- The feature comes in Premium and Economy categories.
- Reserve rides can be cancelled any time up to an hour ahead of the scheduled pick up time with no costs.
Business
EGA refinances corporate facility
Emirates Global Aluminium has successfully refinanced US$5.5 billion of corporate debt.
- The move will deleverage and improve repayment terms to reduce costs and enable an optimal dividend policy in future years for shareholders.
- The term loan facility reduces by US$1 billion the size of EGA’s existing seven-year US$6.5 billion loan facility signed in 2019
Business
Shaker H1 net profit SAR 15.3m
The company attributes growth to robust sales in four quarters.
- H1 earnings per share improved to SAR 0.24.
- The revenue grew by 18.2 percent compared to H1 2020.
Investigation
16,000 held in five days for violating Saudi laws
In a wide crackdown against offenders violating various laws of the kingdom, Saudi Arabia has arrested 16,000 people for contravening...
- The authorities transferred 58,317 offenders to their respective diplomatic missions to obtain travel documents
- The Ministry of Interior said that whoever facilitates the entry of violators to the Kingdom, transports them or provides shelter or any other form of support will face imprisonmen
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PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
Business
Company News
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High commodity prices to keep inflation up
Infographics
UAE offers low-risk business climate
Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.
Infographics
DEWA ranks as 3rd most valuable utility brand in Middle East
Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and...
Business
Hub71 picks latest cohort of tech startups from nine countries
Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants...
Business
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Science
UN says half of world’s health facilities lack basic hygiene
Sketching a dire picture of the world’s healthcare facilities, the United Nations has said that nearly four billion people are...
- The report said the newly established global estimate, based on data from 40 countries, presents an "alarming picture" of the state of hygiene in health facilities
- Facilities in sub-Saharan Africa were lagging, with only 37 percent having handwashing facilities with soap and water at toilets
Business
Tibbiyah buys stake in rival firm
It bought 51% stake in Innovative Care for $57 million.
- Innovative Care, the Riyadh-based medical firm, operates New You Medical Center
- New You, set up in 2016, is a center specializing in cosmetic and reconstructive surgeries, supported by its pharmacy services provider iPharma
Economy
UAE operates air bridge to provide relief to flood victims in Pakistan
The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods
- The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods
- The move follows the order of the UAE president Sheikh Mohamed bin Zayed Al Nahyan to provide all forms of support to Pakistan