Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
Business
TotalEnergies to start drilling in offshore Lebanese gas project in 2023
Paris, France--- French energy giant TotalEnergies said Monday that several teams were working in collaboration with the Lebanese Petroleum Administration...
- TotalEnergies owns 60 percent of Block 9 and its partner in the project, Eni, the remaining 40 percent.
- Block 9 is within the territorial waters of Lebanon, which reached a maritime agreement with Israel.
Science
Participation rises in Sharjah Sustainability Award
SHARJAH, UAE - The Environment and Protected Areas Authority in Sharjah (EPAA) announced an increase in participation in the 11th...
- The breakup of the entries are 311 from university and college students and 174 from school students.
- Nominations were also received in the Distinguished Teacher Award category.
Business
Dubai Multi Commodities Centre launches DMCC Gaming Centre
Dubai, UAE---Dubai Multi Commodities Centre (DMCC), which is currently home to more than 50 gaming companies, has launched the DMCC...
- Under the DMCC Gaming Centre, members will have access to the wider esports community through regular events and esports tournaments.
- Members will have the opportunity to join gaming specific acceleration and market entry programmes through DMCC ecosystem partner, AstroLabs.
Business
GPSSA clarifies conditions of insured individuals
ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) said that the registration of insured individuals in...
- Emirati nationals should not be less than 18 years old nor over 60.
- Entities operating in the field of tourism and hotels, including in the free zones, who employ Emiratis are all subject to the provisions of the law.
Business
HUB71 startup community raises $1bn in venture capital
The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies.
- The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies
- Hub71 has built a diverse capital ecosystem of active investment partners ranging from Mubadala Investment Company to over 30 VC firms to family offices
Business
Masar signs $1.86 bn pact for construction of seven hotels in Makkah
Makkah, Saudi Arabia---Umm Al-Qura for Development and Construction Company, owner and developer of Masar Destination, an integrated urban destination in...
- Baytur Construction Company appointed main contractor and Al Dar to supervise the implementation.
- The agreement boasts the famous hospitality brand Kempinski and the international Taj chain for the first time in Makkah.
Economy
UAE asks govt entities to buy locally produced food
The decision has been taken to support local production while the government continues to embrace open trade policy.
- The decision has been taken to support local production while the government continues to embrace open trade policy
- The desert country is working on vertical farming under a joint venture between Emirates Flight Catering and US-based Crop One
Economy
Dubai Customs and South Korea to boost trade ties
Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai...
- Dubai Customs shared their experience in developing smart customs services and digital systems with the delegation
- The Korean delegation learned about the Post Clearance Audit System, which targets risky clearance transactions and enhances transparency in trade
Economy
TBI denies loan for ‘fake projects’, says recovered 1 trillion, 500 billion dinars
Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans...
- Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans in the bank is inaccurate
- The bank stressed there are no loans for fictitious projects, saying the report in the media which doesn't identify its sources directly affects it
Business
Algeria’s Sonatrach starts production in new gas field
The company announced the completion of production of the Tinrhert gas field at the end of November 2022.
- The company announced the completion of production of the Tinrhert gas field at the end of November 2022
- Algeria has signed many energy agreements with European countries during the current year
Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Company News
UAE approves Dubai Metro Blue Line project
Geostrategy
Latest News
Solutions+, EIH sign MoU
Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
Business
Egypt leads Arab world in population with 113m citizens
DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest...
Geostrategy
Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
Business
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Geostrategy
Human Rights Monitor submits documents on Gaza executions to UN
GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
- The monitor called for immediate investigation to hold the perpetrators accountable and provide justice to the victims.
- It demanded the announcement of the formation of an international legal team to reach Gaza and investigate the incidents.
Business
Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact
MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...
- Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.
- In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.
Geostrategy
UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
- The UNGA approved around US$50 million as an additional funding for UN Human Rights Council.
- UNGA revealed that it established a multiannual private account for peacemaking and it is used for funding UNPBF.