Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...Business Economy
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...Business Economy Energy Geostrategy Global Uncategorized
Storm-1152: Vietnam-based creator of fake Microsoft accounts
Seoul, South Korea - Microsoft has seized the websites of a Vietnam-based group it alleges sold millions of fake accounts to...Storm-1152 is "the number one seller and creator of fraudulent Microsoft accounts", creating around 750 million to date, the company said Wednesday
Storm-1152 pursued a model called "cybercrime-as-a-service" or CaaS, acting as a provider to other criminal groups, Microsoft and Arkose said
Finland’s Vaisala to equip Kuwait airport with observation system
Kuwait City, Kuwait -- The Directorate General of Civil Aviation (DGCA) of Kuwait has inked a KD 6.7 million ($21.7...The contract for three runways at Kuwait International Airport is the largest single airport instrumentation contract for Vaisala ever.
It includes the design, manufacturing, delivery, installation, maintenance, technical support, and user training.
ENEC, CNNC sign MoU
Both the firms will offer their expertise in the sector.The two firms will collaborate on identifying potential development and co-investment opportunities for new international nuclear energy plants.
They will form a Joint Working Group to leverage their strengths in project management, nuclear technology development and implementation.
Dubai records $3.51 billion in weeklong real estate deals
Dubai, UAE -- The real estate and properties transactions valued at 12.9 billion ($3.51 billion) in total during the week...A total 304 plots were sold for AED 3.53 billion, 2,744 apartments and villas were sold for AED 7.15 billion.
The sum of the amount of mortgaged properties for the week was 1.77 billion, with the highest being a land in Trade Center Second, mortgaged for AED 364 million.
GCC region’s non-hydrocarbon growth momentum strong: IMF
Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital...A comprehensive package of policies should be implemented to respond to near-term shocks and uncertainty and to firmly address medium- and long-term challenges.
The IMF affirmed that structural policies should continue focusing on diversifying the economies away from hydrocarbon.
EU seeks critical details from Apple and Google on digital safety
Brussels, Belgium - The EU demanded on Thursday that Apple and Google provide more details on how they identified risks concerning...The European Commission said it wanted "more information on how" Apple and Google "have diligently identified any systemic risks concerning the App Store and Google Play"
It also wants the companies to demonstrate that they have complied with rules on digital marketplaces and transparency about adverts in order to protect users online.
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Â Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...This financing agreement, spanning five years, aligns with Tabreed's overarching sustainability strategy.
The facility will introduce efficient cooling solutions, meeting the regional demand for sustainable innovative technologies.
ADCB, EIH sign agreement
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.The transaction values ADCP at US$161 million and ADCB will gain of nearly US$133 million subject to closing conditions before end of December 2023.
ADCB will retain a 20 percent stake in ADCP post transaction and will continue its partnership via a long-term relationship agreement.
Saudi ministry explores investment with Chinese groups in aquaculture
Shenzhen, China - Saudi Ministry of Environment, Water and Agriculture discussed ways to enhance investments between the Kingdom and China...The National Fisheries Development Program, a delegation of Saudi ministry, participated in the Global Investment Promotion Conference.
The conference was held in the Chinese city of Shenzhen, and the two sides discussed investment opportunities and improving investment relations between the two countries.
UAB concludes $200m term loan
Proceeds of the facility will be used for general corporate purposes.The dual tranche borrowing comprises a conventional tranche and a commodity Murabaha financing facility has been concluded at competitive pricing.
The facility also includes a green-shoe option to increase the size up to AED 1.3 billion. Proceeds of the facility will be used for general corporate purposes.
