UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...Business Economy
ESG buys majority stake in UIG
The move is likely to enhance ESG’s manpower portfolio.Company News Business
Tehran able to sell oil despite US sanctions, says minister
The US imposed its harshest sanctions on Iran three years ago as Washington, under President Donald Trump, unilaterally abandoned an...One of the ways to do this is to swap oil for goods or investment
This potential solution can also be used in other sectors and industries
Iran cuts natural gas exports to Iraq as per a six-month agreement
The decision is said to be based on an agreement with Iraq, and apparently follows prior notification. Iran used to...Iran notified the Iraqi side about this reduction two weeks ago
This export cut will continue for up to six months
Israel opens Chinese-operated $1.7bn port in Haifa
The port, to be operated by Shanghai International Port Group, is expected to bring competition to a sector plagued by...It is expected to enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel
About 99 percent of all goods move in and out of Israel over sea, and an upgrade is needed to maintain economic growth
Egypt gained most from Islamic Development Bank in 2020
IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.IsDB gave out around $6.8 billion to various nations last year
Egypt’s share in that, at $1.13 billion, amounted to around 17 percent
Dubai sees real estate deals worth AED9.4bn; 146 plots fetch AED2.26bn
The DLD weekly report said 146 plots were sold for AED 2.26 billion, 1,080 apartments and villas were sold for...The DLD weekly report said 146 plots were sold for AED 2.26 billion, 1,080 apartments and villas were sold for AED 2.25 billion
Jabal Ali First recorded the most transactions for this week with 40 sales transactions worth AED 89.57 million, followed by Ras Al Khor with 30 sales
Egypt taps consortium for $6bn high-speed rail line
The consortium consists of Siemens Mobility, Arab Contractors, and Orascom Construction. Egypt’s National Authority for Tunnels has chosen the consortium...The project is expected to link two cities that are about 660km apart
Orascom estimates that the project will create 15,000 direct jobs
Shadow of Syria’s exiled haunts revived Aleppo souk
Aleppo, long considered one of Syria's main commercial hubs, has lost many of the merchants and businessmen who once gave...Aleppo, long considered one of Syria's main commercial hubs, has lost many of the merchants and businessmen who once gave the city its economic edge
The vast souks, the oldest of their kind in the world, stretch from the western part of the Old City to the gates of the citadel in the east
UAE outsmarts competitors in luring foreign investors
The UAE government's recent decision to slash the fee to set up a business by 94% to US$272 is expected...The UAE Government has slashed the fees for setting up a business by about 94% to only US$272 (AED 1,000)
In A T Kearny’s FDI Confidence Index 2021, the UAE gained four places – from 19th rank in 2020 to 15th rank in 2021
Investcorp sells PRO Unlimited
EQT Private Equity has bought it from the Bahrain-based asset manager.The transaction was first announced on June 28, 2021
The Bahrain-based asset manager had acquired PRO Unlimited in October 2014
‘Fly Arna’ Armenia’s new national airline
The new national airline is a joint venture between ANIF and Air Arabia.The name was chosen by the joint venture company from over 500 suggestions
ANIF and Air Arabia Group had agreed to launch Armenia’s new national airline in July 2021