Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Business Economy Global
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...Business Geostrategy
Jordan to fully reopen Syria crossing this week
The crossing was closed nearly two months ago due to fighting in Syria’s southern province of Daraa.The Jaber-Nasib crossing is Jordan’s main gateway for goods from Lebanon and Syria to the Arab Gulf countries
It is expected to operate at full capacity as of Wednesday, September 28
Oman to start gabbro mining in October
The quarry will start with a production capacity of 2.4 million tons of gabbro.Gabbro is a coarse-grained igneous rock that is used, among other things, to make kitchen countertops
Sometimes, gabbro deposits may also contain chromium, nickel, cobalt, gold, silver, platinum, and copper sulfides
UAE and WEF to hold ‘Great Directions for the Future’ dialogue in Abu Dhabi
The United Arab Emirates in partnership with the World Economic Forum will hold a two-day long gathering of thinkers to...The meeting represents the basis for an initiative that brings together the world’s elite thinkers, minds and future foresights, on a single platform, to exchange ideas, share visi
“Great Directions for the Future” dialogue and the meeting in Dubai will constitute a strong incentive to shape the features of a more prosperous and inclusive future for humanity
Tribunal awards Dana Gas $607 million in a case against Iran’s state producer
DUBAI: Sharjah-based Dana Gas has been awarded $607.5 million as compensation for damages in a case against the Iranian state-owned...The final hearing of the case will be held in October 2022 and a final award on the damages is expected in 2023.
A second arbitration for the bigger period of the 25-year agreement is currently underway, Dana Gas said.
McDonalds Qatar warns of fake websites
The sites are advertising fake offers and requesting bank details.McDonald’s has reported this problem to the local authorities
It is working closely with them to rectify the matter and take down these sites
Saudi Arabia to develop luxury mountain resort in western region
Saudi Arabia will develop a new luxury mountain resort as the giga project inches closer to welcoming its first guest...The Desert Rock resort will have 60 keys in total and is part of the kingdom's giga project The Red Sea Project
The 48 villas and 12 hotel rooms will offer visitors views of the wadi vistas in the western region of the kingdom
Saudi to build three sewage plants costing $630m
The plants are being built under the Privatization Program, one of the elements of Vision 2030, said Abdulrahman Bin Abdulmohsen...The plants are expected to be ready by the end of 2024.
Madinah, Qassim and Tabuk each will have a plant with daily processing capacity ranging between 90,000-375,000 cum.
Fourth cycle of Dubai SME 100 gets underway
The fourth cycle is expected to highlight SMEs in Dubai that have shown resilience and progress despite the Covid-19 pandemic.Dubai SME 100 is initiative that ranks the top 100 SMEs in Dubai based on their performance
It aims to identify SMEs based on financial and non-financial parameters, and support their growth
Greatest shows on earth: How expos changed the world
International expos, or world fairs, draw millions of visitors to a chosen city every few years. Over two centuries these...The first universal exposition took place in Paris in 1798 to show off French industrial know-how.
The record is held by the Chinese city of Shanghai, which drew 73 million visitors in 2010.
Brent crude price jumps above $80 a barrel
With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have surged,...Brent climbed 0.9 percent in morning Asian trade to $80.24, its highest level since October 2018.
The advance comes even as the global economic recovery shows signs of slowing owing to supply chain issues
