GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...Business
Ahli Islamic signs agreement with AAOIFI to support Islamic banking
MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...Business Banking & Finance
Qatar and Iraq discuss cooperation in transportation sector
Minister of Transport Jassim bin Saif Al Sulaiti, and Minister of Transport of the Republic of Iraq Nasser Hussein Bandar...The total number of passengers who used the Doha Metro during the FIFA Arab Cup 2021 exceeded 2.5mn with an average of 130,000 passengers daily.
According to Qatar Rail, the Doha Metro operated 50,000 trips during the tournament, covering 885,000km, and the average time between trains was 2.5 minutes
Saudi Ports Authority announces new direct shipping service to Djibouti
The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti, through the container...The service will connect Jeddah Islamic Port to Djibouti through the container transport company, Transmar.
Jeddah Islamic Port is one of the three Saudi ports included in the 2021 edition of Lloyd's List of Top 100 Ports.
UAE an attractive work destination for GCC countries, says pension authority
The UAE is one of the most attractive Gulf Cooperation Council (GCC) countries for GCC citizens to work in, according...A total of 6,903 employees from GCC countries work in the UAE, out of the total 19,808 GCC employees working outside their countries.
In the UAE, the insured is expected to pay 5 percent, public entities 15 percent and private entities 12.5 percent, and the rest of the 2.5 percent.
ADNOC, TAQA partner to power, decarbonise offshore operations
The two companies announced on Wednesday a $3.6 billion (AED13.22 billion) strategic project to significantly decarbonise ADNOC’s offshore production operations,...The innovative project will see the development and operation of a first-of-its-kind high-voltage, direct current subsea transmission system in the MENA region
It will power ADNOC’s offshore production operations with cleaner energy, delivered through the Abu Dhabi onshore power grid, owned and operated by TAQA
New Dubai adventure: Eco-friendly surfing
What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea?...What makes Dubai a tourist hub and an important market for sustainable surfing is the region’s proximity to the sea
Artificial surfing has now takers in countries like Saudi Arabia, Oman, Qatar, and Egypt which also boast of a strong community of surfers
Indian Minister says UAE most popular tourist destination for his countrymen
The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament...The second and third most popular destinations for Indians were Thailand and Bangladesh, but their figures were way below those of the UAE.
The Minister confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this year.
Dubai records $212 million worth of realty transactions on Monday
Dubai’s real estate market recorded 246 sales transactions worth AED610.89 million ($166 million) and mortgage deals of AED151.82 million in...The sales included 223 villas and apartments worth AED 503.64 million, and 23 land plots worth AED107.25 million.
The mortgages included 38 villas and apartments worth AED110.84 million and 18 land plots valued at AED40.99 million.
UAE keen to expand economic and investment relations with India: Al Zeyoudi
UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has said the trade partnership with India...India is the UAE’s second-largest trade partner, accounting for nine percent of the UAE’s overall global trade and 13 percent of the UAE's non-oil exports.
Some 13 percent of India’s exports are re-exported through the UAE to the Gulf Cooperation Council, Iran, Iraq and some Central Asian countries.
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Is GCC inflation out of control?
The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that...Food and beverages in Kuwait accounted for a whopping increase in prices, while education costs decreased 15.46 percent
Saudi Arabia’s annual inflation increase is due to a 6.4 percent growth in transportation costs and a 1.4 percent rise in food and beverage prices
