WEF24: The story of Africa is being reclaimed
Africa is moving away from stereotypes of poverty and incapacity to a narrative of ability and competitiveness, Sithembile Ntombela maNdaba,...Business
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...Business Economy Global
Yahsat and Al Seer Marine to test line-fitting unmanned vessels
Yahsat Government Solutions (YGS) and Al Seer Marine PJSC will test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications...The two entities signed an MoU regarding the same on Tuesday at World Defence Show in Riyadh according to a press release
The MoU will enable Al Seer Marine to build on Yahsat’s extensive experience in delivering highly secure satellite communications
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.Mortgage deals worth $48.27 million was also recorded in Dubai
This was in addition to 70 gift transactions amounting to $34.5 million
Morocco truckers observe strike to protest soaring fuel price
Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil...Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers' union
The government of Prime Minister Aziz Akhannouch has for weeks been facing growing unrest over mounting living costs
Oil restarts to flow in Libya as gunmen lift blockade
Libya's National Oil Corporation said Tuesday that an armed group blockading two major oil fields had lifted its siege and...The NOC had announced the suspension of production on Sunday at the vast Al-Sharara and Al-Fil fields after gunmen closed pipelines to the coast
Libya, which sits on Africa's largest crude reserves, has been rocked by 11 years of conflict since a NATO-backed revolt toppled and killed dictator Moamer Kadhafi
Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and...However, the risk assessment firm expects Islamic finance to grow even more in 2022 as economic recovery continues in the GCC
According to Moody’s, Islamic fund AUM continued to grow robustly in 2021 as the economy improved and equity markets performed well
$2.1bn in deals signed at Saudi Arabia’s first defense show: GAMI
Saudi Arabia's first World Defense Show has seen the signing of 22 industrial partnerships with domestic and international defense companies...General Authority for Military Industries (GAMI), which is also the regulator of the Kingdom’s defense sector, said that the deals cover a broad range of activities.
GAMI is the founder of the World Defense Show and the defense industries sector’s regulator.
US envoys held energy talks with Venezuela’s Maduro: W.House
The White House said Monday that a US delegation held weekend talks in Venezuela with the government of President Nicolas...US has broken it's diplomatic relations with Nicolas Maduro, imposed sanctions on Caracas in a bid to force Maduro from power in 2019
Venezuela President has assured Vladimir Putin of his "strong support" in the wake of the invasion
Saudi, Lockheed Martin in missile defence deal
Saudi military industries authority approved two projects to produce launchers and other equipment used in the THAAD anti-missile defence system.Saudi Arabia has signed defence deal with the US firm as the kingdom aims to manufacture 50 percent of its defence needs by 2030
In 2019 when KSA was in conflict with Iran, US had deployed THAAD and Patriot defence systems in Saudi Arabia
Agthia Group revenues up 49%
The group’s net profit stood at AED216 million in 2021.Net profit stood at AED216 million ($58.82 million) compared to AED34 million ($9.26 million) in the previous year
Of this, AED83 million ($22.6 million) of one-off costs were incurred as a result of a strategic review of the company's balance sheet
DNI inks AECB deal
It will help DNI assess people and companies’ financial position.The MoU reportedly underlines DNI’s commitment to transparency within the financial sector
With it, the insurer apparently aims to serve customers better and secure shareholders’ interests
