Aldar Properties awards contracts worth US$2.8bn
ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...Business
Shipping giant Maersk’s profit sinks
The company warned of "uncertainty" due to Houthi attacks.Business
China wants greater GCC role in global, regional affairs
GCC Secretary-General Naif Falah Al-Hajraf and Chinese State Advisor and Minister of Foreign Affairs, Wang Yi, also agreed on a...In a joint statement, the Chinese side is said to have praised the GCC’s achievements since its inception 40 years ago
The two sides concurred on the completing negotiations on the free trade agreement between the GCC and China as soon as possible
Despite culture, MENA coffee business still nascent
The region’s coffee market growing rapidly creates new business opportunities, says Ali Al-Ebrahim, founder and CEO of COFE.Coffee consumption in MENA has experienced a massive shift, with sales growing at twice the global average
Coffee has been at the heart of Middle Eastern culture for centuries
Climate change worsening toll on outdoor workers: Study
Researchers in the United States, who estimated the current cost at $2.1 trillion every year, said the effects of stifling...The researchers looked at data on humid heat — particularly dangerous because the body is less able to cool down by sweating
The study, published in the journal Environmental Research Letters, said around 677 billion work hours are lost a year to humid heat
DEWA launches nanosatellite
DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket.DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket from the Cape Canaveral Space Launch Complex (SLC-40) in Florida in the US
The launch made DEWA the world’s first utility to use nanosatellites to improve the maintenance and planning of electricity and water networks
Mineral resources key to supporting Saudi economy: Investment Minister
Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih said that the mineral resources sector is among the most important...General program for Geological Survey results in issuing 75 new exploration licenses after the launch of the new Mining Investment Bylaw in January 2021.
Estimations put the value of mineral resources in the Kingdom of Saudi Arabia at $ 1.3 trillion.
Oman and UK sign agreement to bolster trade relations, investments
Oman and the United Kingdom have agreed to bolster relations and high-value investment volume, Omani media reports said. To this...The trade volume between the two countries reached GBP 1 billion ($1.37 billion) annually.
Direct British investments comprise 50 percent of the foreign investments volume in Oman over the past years.
Saudi Central Bank issues controls for electronic issuance of banking documents
The Saudi Central Bank (SAMA) has issued controls the banks need to consider while issuing banking documents, Saudi media reports...The controls oblige banks to provide e-verification services of banking documents issued electronically or on paper.
These controls included the minimum limit of banking documents necessary for being electronically issued.
Aramco expands global downstream presence with key European investment
The Saudi Arabian oil company Aramco, the world’s largest integrated energy and chemicals company, is expanding its global downstream presence...The investments will widen Aramco’s presence in the European downstream sector and further expand its crude imports into Poland
Another MoU was signed by Aramco and PKN Orlen which focuses on exploring potential opportunities for research and development
Qatar Tourism eases process to issue holiday home licenses
Qatar Tourism has invited residential property owners to invest in hospitality while generating extra income from their unused units by...Qatar Tourism has introduced a helpline and a simplified process to get licenses issued within a week
Property owners renting to vacationers without licenses would be jailed for two years or/and fined QAR200,000
Panel to enhance performance of Federation of GCC Chambers
The meeting was held via video conference technology, with spread of the Omicron variant of Covid-19 having stopped almost all...Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al-Thani presided over the meeting
It reportedly discussed the estimated budget of the federation for the current year
