MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
Chemanol to buy stake in ACC
Business
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy
Business
Global intellectual property filings reached new records in 2021: WIPO
The latest data shows “continued and sustained growth” in intellectual property filings, “driven largely by increases from Asia.
- The latest data shows “continued and sustained growth” in intellectual property filings, “driven largely by increases from Asia
- Up by 5.5 percent, China and India showed strong growth in local patent filings along with South Korea, which jumped 2.5 percent
Geostrategy
Jordan and US renew commitment to enhance strategic ties
Amman, Jordan—Jordan and the US have reviewed their strategic partnership in a meeting between King Abdullah of Jordan and Mark...
- The meeting covered the ties and the strategic partnership between Jordan and the United States, as well as means of expanding cooperation across all fields
- The congressional delegation lauded the deep-rooted Jordanian-US ties, underscoring Jordan’s pivotal role in bolstering security and stability in the region
Business
Masdar to develop 100 megawatt solar plant in Turkmenistan
Abu Dhabi, UAE—Masdar will develop a 100 megawatt solar plant in Turkmenistan, the company's first such project in the country....
- In this regard, Masdar signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo)
- Turkmenistan is looking to modernise its energy infrastructure and reduce its dependence on hydrocarbons
Economy
‘UAE govt seeks to enable SMEs enter global markets’
"The UAE economic model is based on developing the national entrepreneurship system and enhancing the participation of Emirati entrepreneurs and...
- The UAE government is seeking to open new channels for entrepreneurs and support the growth and expansion of their businesses in global markets, says economy minister
- The country is strengthening global strategic economic partnerships and cooperation to enhance the potential for sustainable growth, Abdullah bin Touq Al Marri adds
Business
Saudi Aramco signs 59 procurement agreements under Iktva
Dhahran, Saudi Arabia-- Saudi Aramco Tuesday signed 59 corporate procurement agreements (CPAs) valued at $11 billion with 51 local and...
- Valued at $11 bn, the agreements were signed with 51 local and global manufacturers, with potential to create 5,000 new jobs in the kingdom over the next decade.
- They cover multiple strategic commodities, such as drilling chemicals, wellheads, switchgears, vibration monitoring systems, pipes and compressors.
Economy
UAE economy expected to grow more than 6 percent in 2022: IMF
The country's inflation has risen with global trends and is expected to average just over 5 percent this year, while...
- The IMF statement came following discussions with UAE authorities from November 2 to 17, 2022. Ali Al-Eyd, who led the IMF staff team, the UAE has seen robust growth this year.
- The outlook is, however, subject to significant external uncertainties, including the impacts of global economic and financial headwinds and geopolitical developments.
Business
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
- The Abu Dhabi-based brokerage reported a 149 percent increase in its Digital Trading platform utilization compared to the same period last year.
- The growth was largely driven by a strong increase in the number of transactions routed through the company's digital channels.
Economy
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
- The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions by 2050 agenda
- The emirate plans to install 5.6 gigawatts of solar PV capacity by 2026 and is currently developing the world’s largest solar plant with a capacity of 2GWs in the Al Dhafra
Economy
Jordan and Iraq to deepen political, economic ties
Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries....
- During bilateral talks King Abdullah expressed keenness to enhance the strong ties between the two countries
- Discussions covered regional issues and crises, the Palestinian cause, and efforts to counter terrorism
Business
Leader of House of Commons urges Kuwaiti entrepreneurs to invest in UK
Kuwait City, Kuwait— Encouraging Kuwaiti entrepreneurs to make investments in the UK, Penny Mordaunt, Leader of the House of Common,...
- She said that she discussed with the prime minister the partnership that has existed for long years at the defense and cyber security levels
- Mordaunt added that her talks with the Kuwaiti officials during her visit addressed prospects of increasing cooperation in investments and the Kuwaiti businesses in her nation
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MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
Company News
Chemanol to buy stake in ACC
Business
Latest News
Ahli Islamic signs agreement with AAOIFI to support Islamic banking
MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...
Business
Dubai Center for Family Businesses issues guidelines
DUBAI, UAE – The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...
Business
Most Read
Business
Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’
DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...
- This initiative positions Invest Qatar as one of the first investment promotion agencies (IPA) in the world to adopt advanced technology.
- This will pave the way for transformative changes in professional interactions between investors and businesses in Qatar.
Arts & Culture
Over 12m people visit Riyadh Season in 60 days
RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12...
- Riyadh Season attracts large number of visitors with different kinds of activities and experiences.
- It is one of the major Saudi events that establishes new concepts in the world of entertainment.
Geostrategy
Jordan takes steps to raise position in Global Food Security Index, says minister
AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create...
- One of the points to achieve this goal are the creation of a national database for food security.
- The other is the issuance of a unique system for the Food Security Council, the minister said.