Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...Business Economy Aviation
Tata Group retains IPL sponsorship rights for record $300m
New Delhi, India - Corporate behemoth Tata Group has again been awarded title sponsorship rights of the Indian Premier League for...Business Global Sports
Kuwait’s budget deficit spikes 175 percent to $35.5bn
Budget deficit of Kuwait has spiraled 175 percent to $35.5 billion in 2020-2021, the highest in the country’s history.In June, the Kuwaiti parliament approved the 2021-2022 budget proposed by the government in January, which forecast spending of 23.05 billion dinars
The Ministry said that oil revenues fell 42.8 percent in 2020-21 to 8.8 billion dinars, while other revenues fell 6.5 percent to 1.7 billion dinars
Climate and Covid recovery loom large over Dubai air show
Airlines are still deep in the red, with losses expected to extend by another $51.8 billion this year.Air traffic has bounced back since the easing of restrictions, though it was still 53 percent lower in September than its pre-pandemic levels.
Airbus will show off its A321neo -- the latest model in Airbus's A320 narrow-body series -- and its twin-aisle A350.
Aleastur, top European metal producer, sets up base in Bahrain
Aleastur, top European metal producer, has set up first plant for aluminum grain refiners and master alloys production in Bahrain.The new $15 million site at the heart of the Gulf region will supply specialty alloys to global markets, including Asia, North America and the GCC
The Bahrain facility will be exporting approximately 85% of its annual production to regional players in the industry, including main aluminum smelters and cast-houses
AACO sets net-zero emissions target
The company to respect the Chicago Treaty, bilateral air services agreementsAACO General Assembly called for the adoption of the guidelines of air travel and vital safety in light of the COVID-19 pandemic
The General Assembly stressed the need to respect the Chicago Treaty and bilateral air services agreements on civil aviation
This week, Gulf markets closed on a high
Stock markets in the Arab region were mostly in the green in the week gone by.After falling by 0.79 percent, the Saudi Stock Exchange closed at 11,753.18 points on Tuesday, losing 93.35 points
On Thursday, the Dubai index outperformed the rest of the Gulf markets, closing on a positive note for the fifth consecutive week
Model Cargo Village at King Fahd Airport is Saudi economic engine
The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support...The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support companies
It also provides creative solutions by linking all strategic and major sites with multiple access points and connecting them to the outside world by land, sea and air
Helium Health of Nigeria buys out Qatar-based Meddy Inc
Meddy Inc, the Qatar-based doctor booking service, has been bought out by the African health tech company Helium Health, embarking...Nigerian-based Helium, which also operates in Ghana, Liberia, Senegal, Kenya and Uganda, announced that it had acquired Meddy Inc
Helium will deploy its electronic medical records (EMR) technology and healthcare financial solutions across the GCC healthcare market
Syria inks solar plant deal with UAE firms
Syria has signed a deal with United Arab Emirates firms for the construction of a solar power plant near Damascus,...The accord comes two days after UAE Foreign Minister Abdullah bin Zayed Al-Nahyan met President Bashar al-Assad in Damascus
The Syrian government initially approved the project last month, with Economy Minister Samer al-Khalil calling it a positive sign
Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC)...The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031.
The second tranche of $1.25 billion is for a 30-year bond maturing in 2051.
ADFD provides Lesotho with $20m finance for water supply
Abu Dhabi Fund for Development (ADFD) will provide the Butha-Buthe District in Lesotho with $20 million in finance for the...The water supply system will provide 9,000 cubic meters of clean water per day, enough to meet the water needs of the Butha-Buthe population
The loan agreement was signed by Mohammed Saif Al-Suwaidi, Director General of ADFD, and Thabo Sophonea, Lesotho’s Minister of Finance
