INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

SCCI discusses trade with Guatemalan, Indonesian delegations

SHARJAH, UAE -   The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...

Geostrategy

UAE discusses clean energy partnerships with Germany, Netherlands

ABU DHABI, UAE -  A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...

Geostrategy
Economy

Oman to ease Covid-19 measures from Aug 21

The relaxation will see the reopening of public buildings, malls, and restaurants, as well as resumption of public events.
  • Covid-19 infections are decreasing in Oman, with 187 reported per day on average over the past week
  • There have been 300,728 cases in all since the beginning of the pandemic, and 4,013 deaths till date
Geostrategy

IMF suspends Afghanistan’s access to SDR resources

The IMF is expected to complete a $650 billion allocation of Special Drawing Rights, the fund’s unit of exchange based...
  • IMF says the SDR has been suspended because there is no clarity at present on the recognition of the government in Afghanistan.
  • The war-ravaged country could access around $440 million in new monetary reserves.

Ofco expands fleet with 7 vessels

Ofco is the marine services arm of Abu Dhabi Ports.
  • They include four Anchor Handling Tugs, a 65-meter landing craft, a supply ship, and a multipurpose safety standby vessel
  • These will further extend the company’s capabilities in providing onshore and offshore integrated logistics solutions and subsea services

Saudi Ceramics plans $66m factory

The facility will have an annual capacity of 8.25 million sq m.
  • The facility is expected to be financed through internal accruals and fresh borrowings
  • The project will commence from the fourth quarter of 2021 and be completed by Q2 2023
Science

World needs $1bn right now to vaccinate stragglers: WHO chief

WHO chief Tedros Ghebreyesus also urged wealthy countries to suspend plans to provide booster shots.
  • Global efforts to slow the delta variant of Covid-19 have been hampered by its virulent nature
  • This has led to hotspots of hospitalizations and deaths in regions with low vaccination levels
Economy

Charity, humanitarian aid workers to get UAE’s Golden Visas

The visa allows residence for five to 10 years, which is automatically renewed for people in certain categories such as...
  • Dubai ruler Rashid Al Maktoum said Golden Visa will provide charity workers in the UAE a safe haven to pursue their work.
  • He cites establishment of the Dubai International Humanitarian City as an example of the emirate's commitment to humanitarian causes.

FB to unveil digital wallet soon?

The Novi wallet has been under development for two years.
  • Novi is an interoperable digital wallet for people to move money around domestically and internationally
  • Facebook as secured licenses to launch Novi in almost all US states
Business

19,000 kg banned drugs among Saudi customs H1 seizures

The customs authority has foiled more than 1,000 attempts to smuggle prohibited items into Saudi Arabia.
  • Zakat, Tax and Customs Authority processes $80 bn worth of inbound and $34 bn outgoing goods.
  • About153,000 inspections carried out in the kingdom detect more than 20,000 zakat and tax violations.
Business

Saudi Arabia to accept IATA Travel Pass from Sept 30

Saudi Arabia’s General Authority of Civil Aviation has accepted the pass as a valid way of confirming Covid-19 test.
  • Eventually this acceptance will be expanded to vaccine certification
  • Travelers to and from Saudi Arabia will soon have the choice of using either the Pass or the national health app
Geostrategy

Egypt ties up with Sudan to map geothermal energy potential

The two countries will also expand the installation of fixed and mobile seismic stations.
  • With the world moving away from fossil fuels, countries across the world are turning to alternate sources of energy
  • This cooperation could help Sudan along those lines, as it looks to power more and more industries and households

SCCI discusses trade with Guatemalan, Indonesian delegations

SHARJAH, UAE -   The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
Geostrategy

Company News

Latest News

ADRO, ADGM ink deal to enhance ease of digital visa access

Abu Dhabi, UAE - Abu Dhabi Residents Office (ADRO) and Abu Dhabi Global Market (ADGM) have signed a deal to...
Business

EU plans emergency action to halt energy price rise

High gas prices have been followed by disruptions in the nuclear and hydroelectric sectors amid a heatwave blamed on climate...
Economy

Saudi to host second Global Artificial Intelligence Summit in Sept

Riyadh, Saudi Arabia: Riyadh will host the second edition of the Global Artificial Intelligence Summit from 13 to 15 September,...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi SMEs number up by 25 percent in Q1 2022: Monsha’at

Riyadh, Saudi Arabia: The number of small and medium enterprises (SMEs) in Saudi Arabia increased by 25.6 percent to 892,063...
  • The Riyadh region accounted for 35.4 percent of the total establishments, the Makkah region 21 percent and the Eastern region 12.7 percent.
  • Monsha’at report said that 81 percent of these establishments are classified as micro and small establishments.
Science

NASA shoots for the Moon, on its way to Mars

Between 100,000 and 200,000 spectators are expected to attend the launch of NASA's most powerful rocket yet, the uncrewed 98-meter...
  • The goal of the flight, dubbed Artemis 1, is to test the SLS and the Orion crew capsule that sits atop the rocket.
  • The capsule will orbit the Moon to see if the vessel is safe for people in future. At some point, Artemis will see a woman and a person of color walk on the Moon for the first time
Economy

Beckham to promote Qatar attractions in tourism push ahead of FIFA World Cup

As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in...
  • As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in the Gulf nation
  • The campaign will highlight Qatar’s potential as a destination for quick weekend getaways and stopover packages being offered to transit travellers