DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...
Business
Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...
Geostrategy
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Geostrategy
Netanyahu secures parliament majority, closer to forming govt
Some Israeli political analysts had forecast that Netanyahu would move to announce a coalition days after receiving his mandate from...
- In Israel's fifth election in less than four years, held on November 1, Netanyahu's right-wing alliance triumphed with ease
- Although a final coalition agreement has not yet been signed, the agreement with Shas gives Netanyahu control over 64 of the 120 seats in the Knesset
Business
ADEX to provide US$25m funding to Togo to raise solar park capacity
The Abu Dhabi Exports Office (ADEX) has signed an agreement with Togo’s Ministry of Economy and Finance to raise the...
- The Abu Dhabi Exports Office will provide a loan of US$25 million, while the Emirati company EMEA Power will undertake the construction and operation of the new complex
- In 2021, Abu Dhabi Fund for Development financed the first phase of Mohamed bin Zayed Solar Energy Complex at a value of $15 million
Geostrategy
Foreign ministers of Jordan, Egypt, Iraq hold tripartite meeting
The ministers agreed to maintain "institutional" communication to follow up on the implementation of the trilaterally agreed upon projects and...
- The ministers agreed to maintain "institutional" communication to follow up on the implementation of the trilaterally agreed upon projects and coordinate future steps
- They also agreed to hold upcoming meetings within the framework of the tripartite cooperation mechanism in preparation for the fourth summit in Egypt next year
Arts & Culture
Saudi Arabia launches drive to embed role of culture in development
Riyadh, Saudi Arabia— Saudi Arabia has unveiled the "Culture & Green Future" initiative, aiming to enhance the role of culture...
- Prince Badr bin Abdullah bin Farhan, Minister of Culture and Chairman of the National Committee for Education, Culture and Science, launched the drive
- The initiative will include five themes, including culture and sustainable development to create the green future, climate change and local cultural policies
Economy
First shipment of UAEGD-compliant gold exported to Indian International Stock Exchange
The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices.
- The deal consists of exporting about 100 kilograms of gold worth $4 million from the Emirates Gold Refinery to the IIBX
- The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices
Business
IATA expects airline losses in 2022 to slide down to US$9.7bn
Geneva, Switzerland— The International Air Transport Association (IATA) has upgraded its outlook for the airline industry’s 2022 financial performance as...
- It expects Industry losses to reduce to -$9.7 billion (improved from the October 2021 forecast for an $11.6 billion loss) for a net loss margin of -1.2%
- Despite economic challenges, it expects cargo volumes to set a record high of 68.4 million tonnes in 2022
Geostrategy
Xi visit marks 34 deals between Saudi, Chinese firms ahead of China-Arab meeting and China-GCC summit
The Chinese president's visit to Saudi Arabia aims at 'qualitative leap' in bilateral ties and the 'largest-scale diplomatic activity between...
- The Chinese president's visit to Saudi Arabia aims to enhance bilateral relations in several fields, including energy, security, transportation, infrastructure and investment
- The trip -- only Xi's third overseas since the coronavirus pandemic began -- comes after US President Joe Biden's visit in July, when he pleaded for higher oil production
Economy
UAE’s non-oil foreign trade at the end of third quarter $445 billion
Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the...
- The value of exports at the end of the third quarter amounted to AED275 billion, a growth of nine percent, and re-exports recorded a growth of 22 percent.
- Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said country's policies, legislations and economic relations and agreements have "begun to bear fruit".
Business
Saudi EXIM Bank, Korean Commercial Insurance Company sign MoU
Riyadh, Saudi Arabia---The Saudi Export-Import Bank signed an MoU with the Korean Commercial Insurance Company (K-SURE), which is Korea’s export...
- They will enhance import and export activities between the two countries, including export of environmentally friendly energy sources produced in Saudi Arabia.
- Under the terms of the memorandum of understanding, the two parties will share experiences and knowledge, cooperate to provide financing solutions.
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DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...
Business
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Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
- The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
- In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
- The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
- He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.