Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...Business Energy Geostrategy Global
How can UAE firms adapt to corporate tax?
Now entities that typically have strong brand equity, control over distribution, and very few competitors, have a competitive edge that...Generally, businesses react negatively to any tax announcement, like the UAE’s corporate tax
However, companies within the UAE might themselves benefit the most from such a tax
Metaverse set to transform banking in GCC
Regional players eye big share as Metaverse is expected to become a US$800 billion market. Some analysts believe it will...Metaverse is expected to become a US$800 billion market -although some analysts think it will reach $30 trillion
The use of Metaverse in banking may lead to the emergence of fully digital bank branches, reducing or even eliminating the need for physical ones
AD Ports, Kuwait GAC sign MoU
The port operator will develop a virtual trade corridor between the two countries.AD Ports Group’s digital arm, Maqta Gateway, will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform.
The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
Saudi Arabia shows interest to develop nuclear reactors
Saudi Arabia has evinced interest to develop small modular nuclear reactors in order to generate electricity for remote areas of...The kingdom's Minister of Energy, Prince Abdulaziz bin Salman, said that Saudi Arabia isn’t looking for funding from any country to help it with its energy transition plan
“The future of the world and society lies not in us waiting for someone else to build the things we should use, but for us to build them ourselves,” he added
Saudi Arabia supports SMEs with $80bn cash injection
In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses,...Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support
“It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said
How Ukraine war left China’s ‘Nickel King’ on hook for billions
The nickel market is dominated by a handful of players, including Tsingshan, founded by Xiang Guangda.The silver-white metal's price hit a record $100,000 per ton as western sanctions were imposed on Russia for invading Ukraine
Official data has revealed that China holds around 100,000 tons of nickel in state reserves
In a ‘dangerous’ land: tourists trickle back to Iraq
Retirees and YouTubers, on package tours or lugging backpacks, are braving Iraq's still basic tourist infrastructure to visit ancient sites...Western governments still issue travel warnings for tourists heading to Iraq, highlighting the risks from kidnappings and bombings
Around 107,000 tourists visited Iraq in 2021, which is three times more than the number in 2020
UAE-Turkey real-estate conclave to tap into new opportunities
Called the UAE-Türkiye Real Estate Development Construction Roundtable, it will be held on Wednesday, March 30.The meeting will look to widen the trade corridor and strengthen economic ties between the two countries, besides building new collaborations
It will reportedly be hosted by the UAE-Turkish Business Council, in association with the Foreign Economic Relations Board of Türkiye (DEİK)
Russians can do business in Turkey, says minister
Turkey’s Foreign Minister Mevlut Cavusoglu has said Russia's oligarchs can continue to do business in his country so long as...The measures targeting the possessions of Russia's oligarchs were not approved by the UN but by western countries
They have imposed measures against Russia like placing oligarchs and other individuals close to Putin on sanctions lists
Jordan to soon resume oil imports from Iraq’s Kirkuk fields
Jordan imports crude from Iraq under an MoU that was signed by the two governments on January 28 last year.The exports were suspended in early February, pending discussion of details in the MoU
The oil will reportedly be transported to the Jordan Petroleum Refinery in Zarqa
