China Construction Bank lists $600m green bond in Nasdaq Dubai
DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC...Business Banking & Finance Markets
PureHealth buys Circle Health
The deal signifies PureHealth’s operational capabilities.Company News Business Health
Saudi Arabia taps Alibaba to help Chinese tourists
Alibaba Cloud is expected to help promote Saudi Arabia as a tourist destination to travelers in the Chinese market.The deal establishes the framework for a collaborative arrangement for Chinese tourists traveling to Saudi Arabia
The agreement is part of Saudi Arabia’s strategy to employ the latest technology to deliver seamless traveler experiences
Siemens hydrogen plant in Egypt
Siemens Energy expects to kickstart the hydrogen industry in Egypt.Siemens Energy and EEHC will pursue the development of a pilot project, comprising 100-200 MW of electrolyzer capacity
This is will drive early technology deployment, establish a partner landscape, and set up off-take relations, among other things
ACME ammonia plant in Oman
The plant will cost of $3.5 billion and be built in three years.The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy
This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons
GCC hotel industry readies for a comeback
The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...Hotel licenses in Saudi Arabia can now be obtained in just 10 days.
Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.
Visa signs MoU with AMF
They will explore ways to boost cross-border payments.Visa and AMF’s regional payment platform will design optimal solutions to unlock sustainable opportunities in payment industry.
Visa said the MoU reinforces its commitment to support the evolution of the Arab region and the vital role digital payments plays in this sphere.
Emirates allows Beirut travelers 10kg extra baggage
Emirates said it had last year set up a humanitarian airbridge with Lebanon, dedicating flights to deliver much needed emergency...Increase in allowance to help people carry medical and other goods to Lebanon.
Shortage of supplies has hit Lebanon, which is undergoing one of the worst economic crises in history.
Iran to sell more electricity to Pakistan
Iran at the moment has electricity exchange with Armenia, Azerbaijan, Iraq, Turkmenistan, and Afghanistan.Pakistan is all set to increase its electricity import from Iran to 70 MW
It will use this power at its under-development Gwadar port
UAE residents got $91.4 billion in personal loans
Gross credit, which includes which includes loans to residents and non-residents and non-banking financial institutions up by 0.9 percent compared...The country's banking sector’s assets reached AED 3.2 trillion in June 2021, up by 0.6 percent compared to a year earlier.
Total deposits also went up by 2.3 percent to AED 1.9 trillion during the same period.
Family firms call heirs to take command
Family-owned businesses in the Middle East, estimated to be worth more than $1 trillion, have been bogged down with issues...An estimated US$15 trillion assets are expected to be transferred to the heirs globally.
The GCC governments offer incentives to the family businesses to get enlisted in the bourses.
Oman Shell updates SME training
The new program will build the capabilities of entrepreneurs.Oman Shell has designed the program to ensure that it aligns with Shell’s social investment strategy and Oman Vision 2040
It takes into consideration the aspirations of its partners and entrepreneurs, while empowering entrepreneurs and Omani businesses
