MoFAIC, Burjeel Holdings ink MoU on healthcare services
ABU DHABI, UAE - UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) and Burjeel Holdings have signed a Memorandum...
Business
DMCC to open office in Mumbai for Indian firms to expand through Dubai
Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian...
Business
Business
Adidas sells Reebok to Authentic Brands Group in $2.5bn deal
Adidas in 2006 acquired Reebok — till then an independent entity with a history that can be traced back to...
- Reebok is the latest big brand under ABG, which already owns Arrow, Brooks Brothers, Forever 21, Sports Illustrated, and Van Heusen
- It also owns the likeness rights or estates to celebrities like Muhammad Ali, Elvis Presley, Shaquille O'Neal, and Marilyn Monroe
Science
10 die from Covid in Saudi Arabia
Covid shows no signs of relenting as ten people died in Saudi Arabia on Friday, and 681 were infected with...
- The total number of recoveries in the Kingdom has increased to 520,358
- A total of 8,388 people have succumbed to the virus in the Kingdom so far
Arts & Culture
Katy Perry unveils shoe range inspired by trip to Egypt
The pop diva visited Egypt in 2019 to celebrate her 35th birthday, and seems have taken inspiration from this.
- The Pyramid and the Bettie are currently available for sale on Perry’s website for the discounted prices of $89 and $59, respectively
- The actual costs are $129 for the Pyramid, which comes in two colors, and $89 for the Bettie, which comes in two colors
Investigation
Saudi customs seize drugs at port
Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port,...
- The floor of the truck had been hollowed out to hide the pills in
- Two people who were due to receive the drugs were arrested
Business
Oman, India ink MoU to cooperate on mining
The agreement will aid the exchange of laws and regulations endorsed by the two countries, and data about investment opportunities.
- The two sides will encourage cooperation in exchanging experiences in innovation and application of techniques
- They will also explore modern methods of excavation for minerals and development of industries based on such ores
Economy
Private investors set to inject $7.3bn in Saudi health
Saudi Arabia is aiming to lure private investors into the health sector of the kingdom with its plan to take...
- The Saudi Ministry of Health aspires to increase the private sector’s participation from 25 percent to 35 percent by 2030
- It is seeking to operate medical cities, hospitals and primary care centers
Chevron JV wins $240m Bapco deal
This is the largest catalyst management deal in Bapco’s history.
- This is an exclusive five-year agreement, which includes an option to renew for an additional five years
- The resulting plant would be known as 1RHCU when fully operational in 2023
Arts & Culture
Saudi handouts, to poor, leap to $27bn
Saudi Arabia has paid nearly $27 billion, since 2017, in monthly handouts to low-income families, facing the unintended effects of...
- Expenditure on social benefits rose by 51 percent as the largest rise from H1 2020, reaching SR42 billion for H1 2021
- Saudi Arabia gives some $27bn in handouts to poor families
Shareholders okay Arkan merger
Arkan will merge with Emirates Steel by the end of this year.
- The key terms of the merger were proposed in May this year by Emirates Steel’s parent company Senaat
- They are to transfer Emirates Steel to Arkan in consideration for the issuance by Arkan to Senaat of a convertible instrument
Saudi Arabia to penalize artificial lakes in farms
The country has said it will take legal action against the construction of manmade or artificial lakes in farms for...
- The Ministry of Environment, Water, and Agriculture said any such construction would be deemed ‘a violation of the water bylaws and the relevant executive regulations’
- The laws and regulations it pointed to are aimed at preserving water resources, ensuring their sustainability, rationalizing water consumption, and preventing its misuse
Most Read
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
MoFAIC, Burjeel Holdings ink MoU on healthcare services
ABU DHABI, UAE - UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) and Burjeel Holdings have signed a Memorandum...
Business
Company News
Latest News
AD Ports acquires stake in IACC
Business
Saudi review partnership with Bahrain in green sector
Bahrain targets zero neutrality by 2060 in the country.
Business
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...
Business
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Geostrategy
UAE, US discuss enhancing military, defence ties
Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with...
- Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with Vice Admiral Brad Cooper
- During the meeting, Rear Admiral Pilot Sheikh Saeed discussed the keenness to enhance ties with the US official across various domains
Economy
Saudi Fund to finance building of Cameroon hospital
The hospital will help tackle chronic disease and reduce mortality rates and also alleviate overcrowding in other hospitals of the...
- The agreement was signed by SFD CEO Sultan Al-Marshad, and the Cameroonian Minister of Economy, Planning, and Regional Development, Alamine Ousmane Mey
- The agreement will help to build and equip the hospital with 200 beds and develop specialized medical departments, centers, and buildings
Business
SALIC to set up storage center
Its CEO said the center will store imported edible oil.
- The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
- The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region