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
Dana Gas receives $39 million payment from Egyptian government
Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced...The payment reduced its receivables in Egypt below $30 million to its lowest levels since commencing operations there in 2007.
Dana Gas has invested over $2 billion since first entering Egypt in 2007 and is currently the fifth-largest gas producer in the country.
Saudi designates China’s NIPA as patent searching and examining authority
The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching...The move allows international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications.
Saudi authorities see the development as an enhancement of cooperation between the two sides in the field of intellectual property.
Turkish crisis turns books into vanishing luxuries
The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of...The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of 84 million people in the past few months
Turkish Publishers Association president Kenan Kocaturk said the coronavirus pandemic has contributed to book industry's problems by raising the price of unbleached pulp
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
‘Robot chef’ makes steaks at Israel restaurant
The "robot chef", which is the size of a large oven, can make three different steaks simultaneously -- though a...It mixes ingredients including beans, potatoes and chickpeas to create a texture that resembles that of real meat, says CEO of an Israeli startup.
Around five percent of Israelis say they are vegan and the market for meat alternatives is on the rise.
Dubai Chamber to start four-and-a-half day working week from Jan 2022
Dubai Chamber has announced that it will shift to a four-and-a-half day working week from 3 January 2022. This is...The new working week is in line with the newly approved workweek for UAE federal government employees.
The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Jordan tourism revenues pass $21 million in first 11 months of 2021
The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Etihad signs China deal
The airline will work with the Henan Province Airport Group.The virtual MoU was signed during the virtual Zhengzhou Week event at the China Pavilion at Expo 2020 Dubai
It is said to contain plans for Etihad’s potential operation of regular cargo services between Abu Dhabi and Zhengzhou
Binance gets nod to become crypto asset service provider in Bahrain
The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its...The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its headquarters in Manama
The second regulatory approval for Binance has come from Canada, which has approved a money services business license
