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...
UAE earns first spot in Global Entrepreneurship Monitor 2024 report
Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global...
Business
Geostrategy
Saudi, Kuwait to develop gas field despite Iran complaint
Saudi Arabia and Kuwait will develop a disputed gas field despite Iranian objections, while urging Tehran to engage in negotiations,...
- The two countries also issued a new invitation for Iran to negotiate over the boundary of the gas field
- Tehran had earlier said that the deal contravened "previously held negotiations", adding that it "reserves its right to exploit" the field
Business
Covid, digital transformation push GCC cloud growth
Businesses in the region are increasingly adopting cloud to protect their data, apps and infrastructure from fraudulent activities while supporting...
- Cloud computing can generate $202 billion from various sectors in Saudi Arabia by 2030
- Rapid cloud adoption can generate up to $600 bn in recurring value in the MENA region
Business
Jordan and Turkey’s Solvest company sign MoU to mine copper
Jordan and Turkey will jointly mine copper in Abu Khashaba Canyon and Ghor Fifa in Southern Jordan. Jordan’s Ministry of...
- The mining project will be implemented on a 20-km² plot of land after studies had shown large and concentrated quantities of copper ore.
- During the MoU's one-year period, the company will conduct several mining and exploration studies to evaluate copper underground repositories.
Business
Dubai Next expects increase in ‘fund seekers’
Dubai Next, the digital crowdfunding platform that has attracted many young innovators and start-up ideas, is anticipating an increase in...
- This follows the country approving a federal system for such platforms recently
- Between the first three months and now, the campaigns have increased by 50 percent
Expo 2020 DUBAI
Expo 2020 was a ‘truly remarkable World Expo’: Dimitri S Kerkentzes
Terming the hosting of Expo 2020 Dubai as a 'truly remarkable World Expo, Dimitri S Kerkentzes, Secretary-General of the Bureau...
- Secretary-General said "Expo 2020 Dubai became a beacon of unity and hope, one that reminded us of the importance of human solidarity and international cooperation"
- He added: "It has shown that by connecting the world, we can explore the realm of infinite possibilities for the benefit of humanity"
Business
KSA and Kuwait call on Iran to hold talks on divided gas field
Saudi Arabia and Kuwait have appealed to Iran to hold negotiations on demarcating the eastern boundary of the submerged Dorra...
- Both countries have previously invited Iran for negotiations, but there was no response from Iran
- The field is expected to produce 1 billion cubic feet of natural gas per day with 84,000 barrels of condensate daily
Business
ADQ invests in Egypt
The Abu Dhabi-based firm has an office in Cairo.
- These transactions are part of ADQ's commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform.
- The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks.
Business
Iran sees windfall in Qatar World Cup
Iran is hoping to host visitors flocking to nearby Qatar for the 2022 World Cup finals, with officials boosting flights...
- "The Qataris are very interested in using Iran's infrastructure in the 2022 World Cup," Transport Minister Rostam Ghassemi told reporters on Tuesday
- Visitors could apply for free single or multi-entry passes for 20 days during those two months
Business
Sumou, Al Shabab sign contract
The Saudi real estate firm will develop club's land in Riyadh.
- The contract is for the purpose of leasing and investing the club’s land located on King Fahd Road and Olaya Road
- Sumou will pay an annual rental fee of SR19.3 million
Business
UAE Central Bank, Bank of Korea renew bilateral currency swap pact
The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and...
- The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and up to KRW6.1 trillion for five years
- "The agreement with the Bank of Korea contributes significantly to the development of financial markets in both countries,” Mohamed Balama said
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...
Company News
Latest News
flynas adds 5 Airbus A320neo, total fleet now 56
Riyadh, Saudi Arabia – Saudi “flynas” airline announced the delivery of five A320neo aircraft to increase its all-Airbus fleet to...
Business
Adnoc and Occidental sign deal
They will conduct a study to build a direct air-capture facility.
Business
Miss Universe Bahrain and Pakistan promote halal and wellness tourism in Philippines
Dubai, UAE - : Recently crowned Miss Universe Queens Miss Universe Bahrain 2023 Lujane Yacoub and Miss Universe Pakistan 2023...
Business
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Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric
Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric
Business
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
- IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
- It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses