China’s Evergrande says head of EV arm detained
At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of...Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...Business
South Korea mulls reviving FTA talks with GCC
The two sides have not had a mutual FTA for more than 10 years now.South Korea and the GCC agreed to negotiate an FTA in 2007, but talks have been stalled since 2009
Now, Korean Trade Minister Yeo Han-koo will soon meet his UAE counterpart Thani Al-Zeyoudi virtually in this regard
Boursa Kuwait launches ESG reporting guide
Through it, the bourse aims to drive the embrace of Corporate Sustainability in the Kuwaiti capital market.The guide will introduce the ESG universe to companies listed on the stock exchange
It will also highlight the benefits of ESG disclosure and best practices
Zamil Industrial unit wins AC deal
The contract is to supply AC systems to Saudi schools.Zamil Industries unit Zamil Air Conditioners has got the contract from Tatweer Buildings Company
The contract is worth SAR44.1 million ($11.7 million)
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital.Emaar EC will now put the approval plan to shareholders' vote
This will happen at the extraordinary general meeting to be held on September 12
Aramco rebar facility opened
IKK Mateenbar will produce non-corrosive fiberglass rebar.New corrosion-free material could support the kingdom in achieving its carbon neutrality targets.
Extreme temperatures and high levels of salinity make the kingdom one of the most corrosive environments for steel rebar.
‘Transparency key to success for corporates in MENA’
Good corporate governance and best practices have been driving the shift in the regional market, says Jamal Fakhro, Managing Partner...Regulators across sectors are proactively evolving national laws and regulations to ensure that businesses perform as responsible stewards in the market, says Jamal Fakhro
Majority of businesses in the region which have adopted corporate accountability and transparency are driving the shift in the market, adds the Managing Partner at KPMG Bahrain
American falcon sells for $467,000 in Saudi auction
The falcon was 16.5 inches both long and wide, and weighed 980 grams.An ultra-white Gyr Qarmousha Falcon, less than a year old, was sold for SAR1.75 million (around $467,000)
It came from a noted international breeding facility called the Pacific Northwest Falcons farm, located in the US
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi...About 1.6 million establishments in the Saudi employment market are registered under the program.
Under Updated Nitaqat, the number of economic activities will be reduced to 32 from 85.
GCC equity markets shine in H1 2021
The growth was spurred by abundant liquidity created by easing monetary and fiscal policies besides a rebound in oil prices.The pharma and biotech index topped performance during H1 2021 with returns of 24.3 percent and 50.4 percent.
Abu Dhabi Exchange topped the region’s equity markets by gaining as much as 35 percent.
Social cost of 2019’s plastic more than GDP of India
There is increasing international alarm over the sheer volumes of fossil-fuel based plastics entering the environment, as microplastics have infiltrated...It estimated that unless there was concerted international action, a projected doubling of plastic production could see costs rocket by 2040 to $7.1 trillion.
Since the 1950s, roughly 8.3 billion tons of plastic have been produced with around 60 percent of that tossed into landfills or into the natural environment.
