GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the...
Geostrategy
DEWA extended 64km water transmission pipelines in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas...
Business
Business
EGA obtains $5.5 billion loan to refinance debt
The term loan facility reduces by $1 billion the size of EGA’s existing seven-year $6.5 billion loan facility signed in...
- Middle East’s largest aluminum maker expects loan to enable optimal dividend policy for shareholders.
- The company could be listed if shareholders wish, says CFO.
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
GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the...
Geostrategy
Company News
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High commodity prices to keep inflation up
Infographics
Amazon Web Services unveils the AWS Middle East (UAE) region
Abu Dhabi, UAE - Amazon Web Services (AWS) announced Tuesday the launch of its second Region in the Middle East,...
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...
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...
Business
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Business
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...
- Dubai Electricity and Water Authority has been ranked the third fastest growing brand in the UAE
- The report said that the remarkable success of DEWA's IPO in H1 2022 was also due to the strength of the utility's brand
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...
- The startups range from FinTech, HealthTech and CleanTech to EdTech, FoodTech and Logistics.
- They will benefit from equity-free incentives worth up to $136,000)and access to enabling programmes and an ecosystem of active investors.
Geostrategy
Iraq, Kuwait, US conduct joint patrol in Arabian Gulf
Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...
- Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills
- US ships included patrol coastal ship USS Sirocco (PC 6) and fast response cutter USCGC Charles Moulthrope (WPC 1141)