AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...Business
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...Business Economy Tourism
Oman-UAE tourism sector partners hold workshop
The workshop was reportedly aimed at highlighting Oman’s participation in Expo 2020 Dubai through the encapsulation of the country’s civilization...Oman recently exempted citizens of 103 countries from visas for residency of up to 10 days to boost tourism activity
Travel and tourism agencies and organizations from around the world are said to have welcomed the visa-free move
BitOasis to be registered in GoAML
BitOasis offers over 15 digital assets to trade against the dirham.The Executive Office of Anti-Money Laundering and Counter Terrorism Financing — or AML/CTF — has welcomed the confirmation
The registration is expected to help add yet another layer of security for both fintech startups and the national economy
UAE, Egypt explore prospects of greater space cooperation
The two sides also discussed facilitating new growth partnerships between the public and private sector.The meeting explored the potential for greater collaboration in all space-related fields between the two countries
The two parties also looked at opportunities to strengthen ties across science, technology, engineering, and mathematics
PwC Middle East to hire 6,000 staff in five years
PricewaterhouseCoopers (PwC) Middle East intends to build its largest headquarters in Riyadh, and hire more than 6,000 staff across the...PwC predicts its Saudi HQ will attract other global firms to the Kingdom
Location will be decided in the next two years
EDB, Emirates NBD sign MoU to guarantee credit for SMEs
The program will focus on sectors such as manufacturing, healthcare, infrastructure, food security, and technology.As part of the MoU, EDB will give financing guarantee coverage of up to 50 percent of the amount lent to SME customers by Emirates NBD
This will be a maximum of AED5 million (around $1.36 million) for larger SMEs and up to AED500,000 (around $136,000) for smaller customers
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Saudi telecom firm stc gets higher rating from Moody’s for ‘strong financial metrics’
Moody’s, the bond credit rating firm, has upgraded the Baseline Credit Assessment (BCA) of Saudi Arabia’s stc, saying it has...The telecom company’s BCA was revised from a1 to a2, and Moody’s also affirmed its A1 long-term issuer rating
'The upgrade reflects stc's leading position in the Saudi telecom sector, which has considerable growth opportunities'
Pact signed for setting up incubator to support SMEs in Oman
DUBAI: An incubator to support Small and Medium Enterprises in Oman will be established by Oman’s Authority for Small and...The incubator will be specialized in the logistics sector, supply chains, and services affiliated with the Public Authority for Special Economic Zones and Free Zones.
A pact was signed between Oman’s Authority for Small and Medium Enterprises Development (Asmed) and Oman Drydock Company in this regard.
