OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...Business Economy
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.Company News Business Economy
Al Rajhi issues $1.17 bn Sukuk
The settlement issuance was set on 23 January 2021.The number of Sukuk stands at 6,500, based on the minimum denomination and total issue size.
The return on the Sukuk offering is estimated at an annual fixed rate of 3.5 percent.
Expo 2020 hits a new milestone with 10m visits so far
Expo 2020 Dubai visitor numbers continue to rise, reaching 10,188,769 visits as of 18th January, while Expo 2020 Dubai’s virtual...The visitors were attracted by the first Global Goals Week to be held outside of New York and a star-studded K-pop concert
All Expo visitors ages 18 and above must show either proof of vaccination or a negative PCR test result taken within the previous 72 hours
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral tradeChairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Emaar EC inks $16m contract
Emaar EC signed the $16-million contract with SAFE.As part of the contract, SAFE will provide security services at the King Abdullah Economic City
It has a duration of five years from the date of signing, which happened on Monday, January 17
US airlines once again warn against 5G deployment near airports
The heads of the largest US airlines warned of a "catastrophic disruption" to travel and shipping if telecom firms rolled...Verizon and AT&T have already twice delayed the launch of their new C-Band 5G service
They were heeding warnings from airlines and aircraft manufacturers that the new system might interfere with certain devices
Israeli tech firms line up for UAE manpower
Dozens of Israeli high tech companies are keen to open units in Dubai or Abu Dhabi after Rapyd's decision to...About a dozen portfolio firms of Israeli venture capital fund OurCrowd actively seek to open units in Dubai or Abu Dhabi, says its CEO Jon Medved
Israeli fintech firm Rapyd is the first to decide that it will open an office in the UAE following the normalization of ties between the two countries
Arada enters Dubai market
Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.Design work on Arada’s mixed-use project on Palm Jumeirah has begun and will contain residential, leisure and F&B components
Arada’s projects include Aljada, Sharjah’s largest ever mixed-use megaproject where 5,000 units are currently under construction
Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global VenturesGlobal Ventures is a Dubai-based growth-driven venture capital firm focused on investing in growth-stage technology.
Investing in progressive funds such as Global Ventures supports ambitious SMEs to expand their businesses, ISSF said.
UAE, South Korea ECAs sign MoU to boost green energy investments
The official export credit agencies of the UAE and South Korea have signed an MoU to boost investments in sustainable...Etihad Credit Insurance and K-SURE will work to facilitate support for various collaborative projects, especially hydrogen economy and renewable energy.
They will also join forces to support the exporters operating in diverse industries to enter the global market.
Assets of Jordan’s Social Security Investment Fund rise by JD1.1 bn in 2021
The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by...The fund’s overall returns on investment (ROI) amounted to JD575 million in 2021 against JD509 million in 2020.
Bonds account for 57 percent of the SSIF’s investment portfolio, followed by stocks 16.6 percent.
