Business - TRENDS Mena

Suez Canal revenues hit all-time high of $6.3bn in 2021
The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.
A total of 20,649 vessels flowed through the canal last year, an increase of 10 percent compared to 18,830 vessels in 2020
The total net load through the canal in 2021 was 1.27 billion tons, against 1.17 billion tons in 2020: a difference of 8.5 percent
GCC countries competing to lead the world in AI
Several countries in the region have already formed AI policies to support their national goals after this technology demonstrated its...
The Middle East AI market is growing at a rate of 20-34 percent per year, according to a PwC report
Saudi Arabia is lavishing $500 billion on the NEOM’s project, which will offer ultra-connectivity, and is trialing air-taxis
AT&T, Verizon defy 5G block
The US had asked them to delay 5G rollout by 2 weeks.
The US introduction of the high-speed mobile broadband technology had been set for December 5
It was delayed to January 5 after concerns were raised that the new system might interfere with alitmeters
World leaders, dignitaries hail UAE for Dubai Expo 2020
Several world leaders and dignitaries who attended the Dubai Expo 2020 have hailed the mega event as "a beacon for...
The Expo will host the first Global Goals Week to be held outside of the United Nations in New York from 15-22 January.
It will be the seventh Theme Week held under Expo’s flagship Program for People and Planet, helping to drive positive action.
On 40th anniversary, Abu Dhabi Airport vows improved services
Abu Dhabi Airports marked the 40th anniversary of the inauguration of Abu Dhabi International Airport (AUH) on Sunday, local media...
The Airport was inaugurated on 2nd January 1982, with Etihad becoming the national carrier and the home airline in 2003.
AUH launched the Smart Travel System in 2016, the first of its kind in the region, to ease passenger processing and experience.
Record cargo shipped through Egypt’s Suez Canal last year
Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day...
Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source of much-needed foreign currency for Egypt.
The number of ships using the canal rose from 18,830 in 2020 to 20,694 in 2021, or more than 56 ships per day.
Dubai government approves budget for 2022-24
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...
The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Emaar Development CEO resigns
Bader Hareb resigned with effect from December 30 for ‘personal reasons.’
The resignation was announced in a letter addressed to DFM Chief Executive Officer Hamed Ahmed Ali
The letter did not give any detail of a successor to Hareb, or an interim appointment till one was named
Iran gas platform out of service after catching fire
The gas transmission pipeline of platform 16 of South Pars gas field started leaking on the seabed.
Gas leaking from the platform caught fire after a lightning strike
The platform is now 'not operational' and repairs were underway
Covid-19 clouds hover over world’s New Year party
As the year drew to a close, the emergence of the Omicron variant pushed the number of daily new Covid-19...
As the pandemic enters its third year, it still dominates life around the globe
Seoul to San Francisco, new year celebrations were canceled or curtailed

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