Nigeria refinery aims to be world’s biggest with expansion
Lagos, Nigeria -- Nigeria's Dangote oil refinery, already the largest in Africa, aims to become the biggest in the world...
Geostrategy
Business
RSG gets Mostadam Diamond Certification
The accolade recognizes RSG's commitment to sustainability.
- Red Sea Global has worked closely with the Ministry of Municipal, Rural Affairs and Housing to help define the innovative Mostadam criteria.
- Together, they are creating vibrant and sustainable communities in the Kingdom, paving the way for a more sustainable housing sector.
Geostrategy
Leaders of China’s National People’s Congress, UAE’s FNC hold talks
BEIJING, CHINA – Chairman of China’s National People's Congress (NPC) Standing Committee Zhao Leji held talks in Beijing with the...
- China, the UAE have consolidated political mutual trust and expanded cooperation.
- China supports the UAE in playing a bigger role in international and regional affairs.
Business
Emirates NBD Group invests in sustainability startup Erguvan
Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
- The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Türkiye, under the umbrella of Emirates NBD Innovation Fund
- The Group-wide fund was created to enable investments in FinTech, SustainTech and Tech companies and start-ups across Emirates NBD’s key markets
Business
UAE’s internet quality world’s best, but e-security concerns remain
The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in...
- The DQL Index assesses the digital quality of life in 121 nations, covering 92 percent of the global population, across five key pillars and 14 indicators.
- The UAE's impressive internet quality score is attributed to its fixed internet speed, which averages 229 Mbps, ranking second globally just behind Singapore.
Geostrategy
Diverse business models needed for trade with China, say Union of Arab Chambers
BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...
- The secretary general of the Union of Arab Chambers said there was a rise in the variety of goods traded between China and the Arab world in recent years.
- Arab nations and China cannot simply rely on the traditional pattern of cooperation that emphasizes on imports and exports of products.
Business
Russian Post working on opening company in UAE, says CEO
Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in...
- In 2018, the Russian Post opened its first overseas branch in Berlin. In 2019, it completed registration of its subsidiary RP Logistics (Shenzhen) Co. Ltd. in China.
- The Russian Post is endeavoring not to interrupt the exchange in postal items and just six countries ended postal communications with Russia to date, TASS reported.
Geostrategy
Relations with Iran will be strong, says Saudi envoy
TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries...
- The Saudi envoy expressed satisfaction with his country's ties with Iran and the two sides' resumption of bilateral diplomatic relations.
- He said that any pact between Saudi Arabia and Iran will lead to the enhancement of peace and security in the entire region.
Business
Mubadala launches ‘Capital Solutions’
The new platform offers bespoke solutions to investors.
- The Mubadala Capital Solutions platform is comprised of three fully integrated strategies to provide investors with access to a range of fund managers and direct opportunities.
- The first strategy within the Mubadala Capital Solutions platform is a diversified, evergreen investment product focusing on private market opportunities.
Business
Online beauty products sales in MENA grow by over 20% in 1H 2023: study
Dubai, UAE - Online sales of beauty products in the MENA region experienced significant growth, surpassing global trends In the...
- Global sales in the beauty and self-care industry increased by more than 15% during this period
- The research was based on over 6.5 million orders globally and more than 400,000 orders in the MENA
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
- Global Minimum Tax involves application of a top-up tax on profits when the effective tax rate is below the minimum rate of 15 percent
- The forum included a workshop on Pillar 2 of the OECD-led Base Erosion and Profit Shifting Project and the Global Anti-Base Erosion Rules
Company News
ADIB unveils new payment hub
Business
Latest News
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process Â
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Microsoft, AI to set up data-center project
It will cost US$100bn and will include an AI supercomputer.
Business
Most Read
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
- The cooperation between the two countries could also include developing data centre projects with a total capacity of up to 1,000 megawatts
- The African country is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services
Business
Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...
- The airlines's chief executive, Bilal Eksi, attended a ceremony at Mitiga International Airport on Thursday to mark its first flight to Libya since 2015.
- A company spokesman told AFP on Friday that Turkish Airlines will operate flights to Tripoli three times a week on Tuesdays, Thursdays and Sundays.
Economy
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
- Total FDI in Saudi Arabia's economy during Q4 of 2023 totaled about US$5 billion.
- GASTAT said the results are based on a household survey conducted by the authority.