Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...Business Banking & Finance
UAE introduces 22 new licenses under Basic Industries Project
The project promotes local industrial investment in key sectors such as medical, food, steel, cement.A total investment of AED 286 million has been reported by ADDED, IDB in the new licenses.
IDB seeks to add 50 new local industrial facilities over the next three years.
ADNOC emerging as UAE’s FDI magnet
Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East...ADNOC has set its eyes on developing green hydrogen and blue ammonia products.
The company plans to spend $122 billion between 2021 and 2025 to develop its businesses.
Ajman Chamber, China’s Dahua explore tech investment opportunities
The two discussed opportunities for cooperation to support multinational companies in the Emirate of AjmanThe two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
Dahua is a leading Chinese tech solutions provider specialising in video surveillance products, data security, alarms, motion sensors and access control
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
By 2030, the country expects to enhance its airport capacity by 30 percent
Egypt looks to neighbors, and beyond, for power supply
In order to make sure that Egyptians get an uninterrupted supply of electricity, Egypt has taken steps to strengthen power...The ministry is studying a huge project for power linkage with Cyprus, Crete and Greece
Shaker said the launch of power projects to connect with Libya is a strategic goal for the two countries
Uber Reserve launches in Dubai
Allows riders to book rides up to 30 days in advance.The feature comes in Premium and Economy categories.
Reserve rides can be cancelled any time up to an hour ahead of the scheduled pick up time with no costs.
Shaker H1 net profit SAR 15.3m
The company attributes growth to robust sales in four quarters.H1 earnings per share improved to SAR 0.24.
The revenue grew by 18.2 percent compared to H1 2020.
One ton of honey sells in Saudi Arabia in 10 days
At least one ton of honey has been sold in just 10 days at a festival in Baha, Saudi Arabia,...Beekeeper Yahya bin Tayran said Baha honey was one of the finest, especially if its source was far from where people lived
It has a display of different types of liquid honey and honey wax typical of the Baha region
Kuwait International Bank completes sale of NMC Health debt
Kuwait International Bank said it has completed the sale of its exposure in troubled UAE healthcare group, NMC.The sale of debt, worth over $13mln, is subject to approvals
The lender, which was owed $74.11 million by NMC health, in May decided to cut its losses and sell the debt to an unnamed entity for $13.25 million
Taliban inherit $1 trn trove of minerals
China could take lead to tap the untapped minerals including some that could power the world’s transition to renewable energies.Endless wars and poor infrastructure have prevented the country from getting its hands on the metals that could brighten its economic fortunes.
The resources include bauxite, copper, iron ore, lithium and rare earths, according to a January report by the US Geological Survey.
