UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.
Business
Business
Emirates Steel Arkan, ADU to set up UAE’s first specialized metallurgy lab
Emirates Steel Arkan Group, the UAE’s largest listed steel and building materials company, has signed a Memorandum of Understanding (MoU)...
- The laboratory will contribute to enriching the educational experience in this discipline and conducting advanced studies and research in metallurgy.
- Emirates Steel Arkan Group will offer comprehensive scholarships to 20 undergraduate Emirati students covering the four-year study.
Business
New twist in Twitter deal, Musk may withdraw the bid
Elon Musk threatened Monday to withdraw his bid to buy Twitter, accusing it of failing to provide data on fake...
- Twitter had failed to respond to Musk's valid inquiry about fake accounts, said Musk's attorney
- According to Musk, the real number of bots may be four times higher than Twitter estimates
Business
Brothers held in UAE on graft charges face extradition to S.Africa
Two Indian-born brothers who allegedly wove a web of corruption across South Africa have been arrested in Dubai and face...
- Dubai police confirmed the arrest of Atul and Rajesh Gupta after receiving a so-called red notice from Interpol
- They were accused of paying bribes in exchange for massive and lucrative state contracts and influence over ministerial appointments
Business
Jordan govt, SJIF ink $400m healthcare agreement
Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment...
- Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment Fund Law
- The project will be based on a BOT model, as ownership of the project will be transferred to the Jordanian Government after the end of the investment period
Business
Apple unveils message recall, other ‘wish list’ features
Apple opened Monday its first in-person developers conference since the onset of the pandemic with chips, maps and a way...
- Apple chief Tim Cook and his team showed off coming innovations during a keynote presentation
- No updates, however, were forthcoming on a rumored virtual reality operating system or hardware.
Business
More MENA businesses now swipe virtual credit cards
Local lenders are offering more services online to cater to a young, tech-savvy consumer base, speeding up the transition of...
- The region's digital payments business has been booming as local lenders move more services online to serve tech-savvy youthful consumers
- MENA's high concentration of fintech and digital payments technology has increased the use of virtual cards
Business
Jordan’s exports from Jan-May 2022 hit $478 million
Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339...
- Number of Amman Chamber of Commerce certificates of origin issued during the past five months of 2022 reached 10,879.
- ACC issued 2, 269 certificates of origin to export goods to Saudi Arabia and 1508 certificates to the UAE.
Business
Qatari businessmen to explore investment opportunities in Egypt
The Qatari Businessmen Association discussed investment cooperation with Mohamed Abdel-Wahab, CEO of Egypt’s General Authority for Investment and Free Zones....
- Chairman of the Qatar Businessmen Association's Board of Directors Sheikh Faisal bin Qassim Al-Thani stressed upon economic cooperation between the two countries.
- He said there are multiple mutual economic opportunities between Qatar and Egypt to develop their cooperation in the trade and investment sectors.
Economy
Qatar Central Bank strategy for FinTech to boost sector
Qatar Central Bank is working on designing a new strategy for financial technology and intends to launch it during the...
- Qatar Central Bank is working on the new strategy for financial technology and intends to launch it at the last quarter of 2022
- QCB is creating the necessary infrastructure to enable banks to approve payments from digital wallets
Business
ADX and nine listed companies to attend investors meet in London
Abu Dhabi Securities Exchange (ADX) and nine ADX-listed companies will meet major institutional investors in London on June 9 and...
- The delegation includes over 25 CEOs, CFOs and senior executives from ADNOC Distribution, ADNOC Drilling, Abu Dhabi Islamic Bank, Agthia and others.
- ADX said it will showcase its progress in its strategy to significantly increase liquidity and market capitalization.
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UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Company News
SABIC AN profit slumps 71% in H1
Business
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Inma Holding profit tumbles
Business
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
Economy
Qatar becomes an important global event destination
"Qatar Tourism takes pride in organizing and hosting successful exhibitions across diverse sectors. These events underscore Qatar's capacity to harness...
Business
Dubai’s weeklong real estate transactions exceed US$2.5bn
DUBAI, UAE - A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
Business
Most Read
Economy
El Nino forced sugar price to hit 13-year high in September, says FAO
Paris, France - Global sugar prices soared to their highest level in almost 13 years in September as the El Nino...
- While world food prices steadied as a whole last month, the FAO's Sugar Price Index jumped by 9.8 percent compared to August.
- El Nino, a climate pattern, is typically associated with warming ocean surface temperatures in the central and eastern tropical Pacific Ocean.
Business
Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
- King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.
- This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.
Geostrategy
Saudi Arabia to enhance air connectivity to over 250 destinations by 2030
RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...
- The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
- Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.