Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business
Business
Jordan to resume flights to Damascus, 10 years after Syrian civil war broke out
The Jordanian government has agreed to resume flights to the Syrian capital Damascus as of 3 October after a 10-year hiatus...
- The Ministry of Interior said, in a press statement today, that this decision comes to allow the activation of trade and tourism between the two countries
- Travelers coming from Syria will be required to present a negative PCR test from accredited Syrian laboratories taken no more than 72 hours before their flight
Business
Kuwait plans customs virtual corridor with Abu Dhabi
The customs departments of Kuwait and Abu Dhabi are planning to form a virtual corridor.
- The move is expected to bolster bilateral trade ties
- A deal over the matter may be sealed shortly
Business
Dubai’s trade with Saudi Arabia leaps up 26 percent to AED30.5bn in H1
Trade between Dubai and Saudi Arabia grew 26 percent to AED30.5 billion in the first half of 2021, making the...
- Overall, the non-oil foreign trade of Dubai grew 31 percent year-on-year in the first half 2021 to AED722.3 billion
- China, however, remains the emirate’s biggest trading partner in the world in terms of value - increasing by 30.7 percent to AED86 billion in the six months to July
Geostrategy
Jordan to fully reopen Syria crossing this week
The crossing was closed nearly two months ago due to fighting in Syria’s southern province of Daraa.
- The Jaber-Nasib crossing is Jordan’s main gateway for goods from Lebanon and Syria to the Arab Gulf countries
- It is expected to operate at full capacity as of Wednesday, September 28
Business
Oman to start gabbro mining in October
The quarry will start with a production capacity of 2.4 million tons of gabbro.
- Gabbro is a coarse-grained igneous rock that is used, among other things, to make kitchen countertops
- Sometimes, gabbro deposits may also contain chromium, nickel, cobalt, gold, silver, platinum, and copper sulfides
Business
UAE and WEF to hold ‘Great Directions for the Future’ dialogue in Abu Dhabi
The United Arab Emirates in partnership with the World Economic Forum will hold a two-day long gathering of thinkers to...
- The meeting represents the basis for an initiative that brings together the world’s elite thinkers, minds and future foresights, on a single platform, to exchange ideas, share visi
- “Great Directions for the Future” dialogue and the meeting in Dubai will constitute a strong incentive to shape the features of a more prosperous and inclusive future for humanity
Business
Tribunal awards Dana Gas $607 million in a case against Iran’s state producer
DUBAI: Sharjah-based Dana Gas has been awarded $607.5 million as compensation for damages in a case against the Iranian state-owned...
- The final hearing of the case will be held in October 2022 and a final award on the damages is expected in 2023.
- A second arbitration for the bigger period of the 25-year agreement is currently underway, Dana Gas said.
Business
McDonalds Qatar warns of fake websites
The sites are advertising fake offers and requesting bank details.
- McDonald’s has reported this problem to the local authorities
- It is working closely with them to rectify the matter and take down these sites
Business
Saudi Arabia to develop luxury mountain resort in western region
Saudi Arabia will develop a new luxury mountain resort as the giga project inches closer to welcoming its first guest...
- The Desert Rock resort will have 60 keys in total and is part of the kingdom's giga project The Red Sea Project
- The 48 villas and 12 hotel rooms will offer visitors views of the wadi vistas in the western region of the kingdom
Business
Saudi to build three sewage plants costing $630m
The plants are being built under the Privatization Program, one of the elements of Vision 2030, said Abdulrahman Bin Abdulmohsen...
- The plants are expected to be ready by the end of 2024.
- Madinah, Qassim and Tabuk each will have a plant with daily processing capacity ranging between 90,000-375,000 cum.
Company News
e&, Vodafone form relationship
Business
Nissan 2022 profit $1.6bn
Business
Latest News
stc Q1 revenue $4.84 billion
Business
ADNOC Gas Q1 net income up 9%
Business
One missing after tugboat sinks in Suez collision with tanker
The authorities in charge of the waterway said that a tugboat sank and a cew member had gone missing after...
Business
Saudi Fund signs US$77m agreement to set up solar power plant in Belize
Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power...
Business
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...
Economy
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Business
MENA region rides the wave of digital transformation
With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and...
- With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and investing in flagship projects
- Complete digital transformation requires careful planning, collaboration, and a focus on culture and mindset, positioning the region as a leader in the digital age, say experts
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
- The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
- It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
Economy
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
- The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
- He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships