Israel approves major West Bank settlement project, sparks international outcry
Israel has long had ambitions to build on the roughly 12-square-kilometre parcel known as E1 just east of Jerusalem, but...
Geostrategy
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
Business
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
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
Israel approves major West Bank settlement project, sparks international outcry
Israel has long had ambitions to build on the roughly 12-square-kilometre parcel known as E1 just east of Jerusalem, but...
Geostrategy
Company News
Israel is starving Gaza residents, says NGO
Geostrategy
Baims acquires Orcas Edtech
Business
Latest News
UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
ADGM’s Registration Authority fines two firms for audit failings
ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...
Geostrategy
Most Read
Business
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
- Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.
- Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.
Business
Saudi Arabia’s oil exports fall by $13 billion in fourth quarter of 2023
In December, oil exports fell by SAR 13.5 billion or 15.8% to SAR 72 billion ($19 billion) from SAR 85.5...
- Non-oil exports (including re-exports) decreased by 1.2 percent, compared to Q4 2022, decreasing to SAR 71.1 billion from SAR 71.9 billion in Q4 2022.
- In Q4 2023, exports to China amounted to SAR 50.2 billion (16.9 percent of total exports), making this country the main destination for the Kingdom’s exports.
Business
Construction costs set to rise in UAE, Saudi Arabia in 2024: Report
Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7...
- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024.
- Increases will challenge construction firms, which will need to develop new processes and capabilities to keep costs under control and projects on track.