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
Business
Vietnamese firms look to benefit from Saudi Vision 2030 opportunities
Riyadh, Saudi Arabia--- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum on Tuesday evinced interest...
- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum.
- The trade between the two countries amounted to about SR8.2 billion in 2021.
Geostrategy
UAE, Saudi Arabia sign MoU for mutual recognition of maritime training
LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
- The move is in line to ensure the highest standards of maritime safety and within the outcomes of the Saudi-Emirati Coordination Council.
- This is as per the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978 and its amendments.
Business
KEZAD, Al Eskan Al Jamae merge
The merger creates Abu Dhabi’s largest integrated staff accommodation company.
- The combined entity will have an equity value of approximately AED7 billion ($1.90 billion). This transaction would be effected through an equity share swap with no cash exchange.
- For the nine months ended 30 September 2022, revenue was AED275 million for KEZAD Communities and AED205 million for EAJ.
Business
Ma’aden plans to become one of the top ten global aluminium producers
Key executives from Ma’aden’s aluminum and smelter department participated in the three-day conference Arabal 2022 in Cairo.
- Key executives from Ma’aden’s aluminum and smelter department participated in the three-day conference Arabal 2022 in Cairo
- With over 400 high-level delegates in attendance, Ma’aden had a prominent presence at the event showcasing various products and demos
Business
Dubai Islamic Bank lists sukuk
The bank listed the sustainable sukuk on Nasdaq Dubai.
- The Sukuk is the first-ever sustainable Sukuk from a UAE entity and was issued in line with DIB’s Sustainable Finance Framework
- The bank issued the new Sukuk under its US$ 7.5 billion Sukuk Programme
Business
GCC IPOs resilient to volatility hurting other markets
Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher...
- IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity.
- Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation.
Geostrategy
China-Arab summit: Chinese President Xi to visit KSA tomorrow
Chinese President Xi Jinping will reach Saudi Arabia on Wednesday for a three-day visit, his first to the world's biggest...
- Leaders from the two countries are expected to discuss potential deals that could see Chinese firms become more deeply involved in Saudi mega-projects
- Chinese President Xi Jinping last visited Saudi Arabia in 2016 on a trip that also featured stops in Egypt and Iran
Business
IATA says global passenger demand for air traffic growing
Geneva, Switzerland— Total global air traffic has shot up 44.6 percent in October as against October 2021, according to the...
- Total traffic in October 2022 (measured in revenue passenger kilometers or RPKs) rose 44.6 percent compared to October 2021
- Domestic traffic for October 2022 slipped 0.8 percent compared to the year-ago period as stringent COVID-related travel restrictions in China dampened global figures
‘UAE launching 4 products of advanced digital currencies in 2023’
The Advanced Technology Research Council, Faisal Al Bannai said, has 6 main research areas, including health, food, transportation and space...
- The Advanced Technology Research Council, Faisal Al Bannai said, has 6 main research areas, including health, food, transportation and space sector
- The council is one of three centres established to support and develop space capabilities and talents in cooperation with space agencies and strategic partners
Geostrategy
UAE President, Israeli counterpart seek to boost cooperation in space sector
Sheikh Mohamed and President Herzog confirmed the importance of boosting UAE-Israel cooperation in the space sector.
- Sheikh Mohamed and President Herzog confirmed the importance of boosting UAE-Israel cooperation in the space sector
- The two leaders discussed areas of collaboration between the UAE and Israel and the promotion of progress and stability across the region
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
Chemanol to buy stake in ACC
Business
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UN adopts Qatar-sponsored resolution on human rights training center
New York, USA - The UN General Assembly (UNGA) adopted a resolution by 185 votes on 'The UN Human Rights...
Geostrategy
Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
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Geostrategy
UAE, Kazakhstan sign MoU to combat financial crimes
ASTANA, KAZAKHSTAN – UAE and the Republic of Kazakhstan signed an agreement to enhance bilateral cooperation in the combating of...
- The MoU aims to increase cooperation in combating money laundering, terrorism financing and proliferation financing.
- It will focus on four key areas: virtual assets, public-private partnership, education and capacity building, and asset recovery.
Geostrategy
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
- One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
- This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.
Business
Hyundai Motor, Mubadala ink MoU
The two firms will seek to unlock investment opportunities.
- The agreement between the two firms will allow both parties to jointly invest and share expertize.
- Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.