Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
Business
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Arts & Culture
World Cup without booze makes atmosphere less aggressive, more family friendly
Some say the absence of booze in stadiums and its limited availability elsewhere in the Arab nation has detracted from...
- The sale of alcohol at World Cup stadiums in Qatar was banned two days before the tournament in a policy U-turn, although it is available at fan zones and most international hotels
- And matches particularly involving teams from South America and North Africa have still played out in front of electric atmospheres.
Business
Saudi Arabia joins Madrid-based International Olive Council
Madrid, Spain---Saudi Arabia has joined the International Olive Council (IOC), a UN affiliated intergovernmental organization aimed at developing and expanding...
- The council is a UN affiliated intergovernmental organization aimed at developing and expanding olives and olive oil trade.
- The Council also encourages the member countries to develop and modernize commercial standards for products and improve their quality.
Business
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from...
- The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares, and list on the Saudi Exchange.
- In a Tadawul filing, Luberef said the price range for the offering has been set between SAR 91 and SAR 99 per share.
Geostrategy
Jordan, India explore economic cooperation
AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a...
- The minister briefed the envoy on the investment climate in the Kingdom and potential opportunities in various sectors.
- She emphasized business-friendly legislation and simplified government service delivery.
Geostrategy
Herzog becomes first Israeli president to visit Bahrain
Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf...
- Accompanied by an economic delegation, Herzog said he would discuss "ways to strengthen our economic cooperation".
- Herzog said he would then travel to UAE's capital Abu Dhabi.
Science
Indonesia villagers race to escape eruption as sky turns black
LUMAJANG, INDONESIA - Thousands of villagers living near Indonesia's Mount Semeru were racing for refuge Sunday to the wail of...
- Locals fled on motorbikes sometimes three at a time as a mushroom cloud of ash approached and monsoon rains lashed the area in East Java.
- Indonesian authorities raised their alert level for the volcano to its highest after the crater spewed hot ash a mile into the sky.
Business
RTA to develop truck rest stops in partnership with ADNOC, Almutakamela
Dubai, UAE---Dubai’s Roads and Transport Authority (RTA) has awarded contracts for constructing three all-inclusive Truck Rest Stops in partnership with...
- The three stops that will be built over a total area of 226,000-sq meters can accommodate 500 trucks and heavy vehicles.
- The three stations are situated in key areas nearby key roads and logistical cities that witness considerable numbers of trucks every day.
Geostrategy
Jordan and Egypt agree to expand bilateral relations
Cairo, Egypt—King Abdullah of Jordan and Egyptian President Abdel Fattah El Sisi have expressed desire to further expand bilateral relations...
- During the meeting, held at Al Ittihadiya Palace, both leaders expressed pride in the ties between the two countries and keenness to bolster relations
- Talks also covered the latest regional and international developments, with both sides stressing the need to maintain coordination and consultation on issues of mutual concern
Arts & Culture
Innovation key to fairer world for people of determination, says UN chief António Guterres
Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning, opening new avenues...
- Greater public-private sector collaboration is needed, in order to develop strategies that benefit people of determination, who should also be involved in their development
- Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning for people of determination, says UN chief
Business
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...
- Price increases are to be prohibited until the end of 2023 - unless the supplier can prove "that the increase is objectively justified".
- A justification could, for example, result from "market-based price and cost developments".
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
Business
Company News
Ducab, Somagec ink MoU
Business
stc, Microsoft to collaborate
Business
Latest News
Maaden posts net loss in Q3
Business
NMDC, AD Ports Group ink MoU
Business
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
Geostrategy
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
Business
Most Read
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
- A survey gathered information about people who influence cybersecurity, looking at both internal staff, and external actors.
- The survey also analyzed levels and types of online safety company bosses believed warranted investment.
Business
CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
- Participants in the events included officials and experts from international organizations, financial institutions and Islamic financial bodies.
- They aimed to support and advance sustainable Islamic finance while expanding the reach of sustainable finance globally.
Geostrategy
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
- The settlement of debts is subject to specific and strict laws and standards regarding the quality of loans and their areas of expenditure.
- Officials of banks, financial institutions and national companies expressed their pleasure and pride in taking part in this national initiative.