Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...Business
Central Bank of Kuwait conducts another round of Shariah auditor program
The Central Bank of Kuwait (CBK) has launched the fourth round of the Certified Shariah Auditor program to strengthen the...Around 100 certified auditors have graduated in the past sessions of the program.
CBK had issued instructions regarding Shariah Supervisory Governance in Kuwaiti Islamic Banks in 2016.
ENOC of UAE to market lubricants for Egypt in a three-year deal
United Arab Emirates’ National Oil Company (ENOC) has signed a three-year agreement with Royal Marine Services in Egypt to distribute...ENOC Misr, a joint venture between Proserv Egypt Group and ENOC, will be handling the local marine market, while Royal Marine services will manage the International marine market
ENOC supplies lubricants that are used in a wide range of marine vessels, including heavy duty diesel engines
Iran and Azerbaijan to sign business deals in energy sector
Iran and Azerbaijan will sign agreements for cooperation in various energy sectors soon, according to Iranian Oil Minister Javad Oji.Oji made the announcement after a meeting with Azerbaijan’s Deputy Prime Minister and Minister of Economic Development Shahin Mustafayev in Tehran
The development of oil and gas fields in the Caspian Sea was another subject discussed during the meeting with the Azerbaijani delegation
Saudia named best brand of 2021 in the kingdom for development of services
Saudi Airlines (Saudia) has been ranked as the best brand of the year 2021 in the kingdom, rising from eighth...The list of the best brands in 2021 in the kingdom by marketing research company YouGov includes many major international companies.
Saudia improved its ranking this year from eighth place three years ago.
Mosul restaurant brings robot waiters to Iraq
The robots being used in the restaurant are imported but the installation, applications and their servers are managed by the...Guests in a restaurant in Mosul order their meal digitally, through the 15 touch-screen built into the dining table
Electronic workers or robots are already being used in Japan, Dubai and other European countries
VentureSouq launches FinTech Fund
The fund invests in early stage FinTech and SaaS companies.The $50 million VentureSouq fund invests in early-stage FinTech and SaaS companies and focuses on key subsectors including payments infrastructure
Established in 2016, VentureSouq has operations in the UAE, Egypt and Saudi Arabia and has invested in over 200 companies worldwide
MODON and Bin Laden Company to build industrial city
The Saudi Authority for Industrial Cities and Technology Zone (MODON), has teamed up with Mohammed Bin Laden Co. to develop...The city located in Bahrah, a town in Makkah province, is a step to empower the industry and increase the local economic activity in GDP terms by 65 percent
MODON was established in 2001 to develop industrial lands with integrated services
Sawiris wants ‘level playing field’ for Egypt business
The second richest man in Egypt, Sawaris has said that the Egyptian government should act only as a regulator of...Sawiris built his fortune in telecommunications by investing in mobile networks in countries such as Bangladesh, Iraq and Pakistan.
The military's economic reach has grown under President Sisi's leadership, partnering up with firms such as the Sawiris family's Orascom.
India police charge Amazon executives over online drug sales
Indian police have charged executives from Amazon's local arm over claims the US retail behemoth's online portal was used to...Two men were arrested last week with 21 kilograms (46 pounds) of the drug in central Madhya Pradesh state and told officers they were using Amazon's India platform
They admitted to shipping their crop by falsely marketing it as stevia leaves, a natural sweetener, according to a police report
Dubai approves 55,000 business licenses in 2021
More than 55,000 new business licenses were issued during the first ten months of 2021 by the Business Registration and...According to a report by the Business Registration and Licensing sector, 59% of the new business licenses issued were professional, and 41% were commercial
Among the legal forms of the new licenses issued, the report showed that Sole Establishment companies topped the list with 38%
