Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported.Dar Global and the...
Business
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
Economy
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
Business
ACWA Power signs deal with China
The $1.5bn deal will herald a new energy transition phase.
- The strategic partners from China include Industrial and Commercial Bank of China, Bank of China, SPIC Huanghe Hydropower Development Co, and China Southern Power Grid
- The deals will lay the ground for financing, investment and construction of ACWA Power’s global clean and renewable energy projects in Saudi Arabia and BRI countries
Business
Saudi Arabia and Kuwait to jointly develop Al-Durra gas field
Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field...
- In March the two countries had agreed to develop the Al-Durra submerged gas field
- The development of the field comes in implementation of the MoU signed by Saudi Arabia and Kuwait in 2019, which included the joint work to develop and utilize Al-Durra field
Business
Turkey’s auto sector grows 6% from Jan-Nov 2022
The sector witnessed the manufacturing of 1,210,331 cars in the period.
- The sector witnessed the manufacturing of 1,210,331 cars in the period
- The automotive exports grew by 5 percent over the past eleven months
Economy
GCC vows to unify stance of global environment issues
The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international...
- The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums
- The meeeting of GCC ministers responsible for environmental affairs in their respective countries was chaired by Oman's Dr. Abdullah bin Ali Al-Amri
Science
UAE launches Arab world’s first ever lunar rover, will land in April 2023
Dubai, UAE - The Arab world's first lunar rover successfully took off to space on Sunday. The UAE-built Rashid Rover...
- The UAE became the first Arab country and the fourth country globally to land on the lunar surface after the United States, Soviet Union, and China.
- The Mohammed Bin Rashid Space Centre (MBRSC) said once launched, the integrated spacecraft will take a low-energy route to the moon.
Economy
UN says right environment policies can generate 20 million jobs
“It is critical that as we scale up the use of Nature-based Solutions (NbS) we make sure we do not...
- Nature-based solutions aim to protect, restore, and sustainably manage waters and marine ecosystems.
- New Green Jobs for Youth Pact, launched by ILO and UNEP at COP27, aims to create one million new green jobs.
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported.Dar Global and the...
Business
Company News
UAE approves Dubai Metro Blue Line project
Geostrategy
Latest News
Solutions+, EIH sign MoU
Business
Sheikh Hamdan issues resolution regulating single-use products in Dubai
DUBAI, UAE - Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...
Geostrategy
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
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Business
IsDB, SWCC sign agreement
The collaboration will involve efforts from both parties.
- The agreement includes a mechanism for exchanging knowledge and experiences.
- It would involve transferring the experience of SWCC to the member countries of IsDB.
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.