Infographics
UAE tops gender equality in Arab countries
In the UAE, and the wider Arab world, many women have been successful in upturning the prevalent prejudice that a...
- Their participation in the workforce has grown; in many Arab countries, women entrepreneurs are competing with men to distinguish their businesses
- Many young women have important roles in government offices where they are a key part of policymaking
Business
Kuwait issues bonds, tawarruq to the tune of $792m
The Central Bank of Kuwait has issued bonds and tawarruq for six months with an accumulated value of $792 million.
- According to a statement released by the bank, the rate of return is set at 1.625 percent
- The bank also issued bonds and tawarruq as of March 21 valued at 220 million Kuwait dinars ($660 million) for three months standing at a rate of returns of 1.375 percent
Business
PIF of Saudi Arabia looks to buy stakes in four construction firms
PIF, Saudi Sovereign Wealth Fund, is in talks with four construction firms in order to make investments to the tune...
- According to media reports the PIF is holding discussions with Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them
- Looking to take stakes of about 30 percent in each company, the PIF has roped in Rothschild and GIB Capital as advisers to finalize the deals
Business
Dubai school ‘first’ in Middle East to accept tuition fee in Bitcoin, Ethereum
A school in Dubai has said it will be the first school in the Middle East to let parents pay...
- Citizens School, which is set to open doors in September 2022, said it will accept payments from Bitcoin and Ethereum in addition to traditional modes of payment.
- Payments using cryptocurrencies are accepted through a tie up with a digital currency platform that processes cryptocurrency payments and automatically converts them to Dirhams.
Business
UAE reaffirms OPEC+ commitment, says West must be ‘reasonable’
The United Arab Emirates on Monday urged Western countries to be "reasonable" in their expectations, underlining its commitment to the...
- The grouping of the 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, is an "alliance to stay"
- A surge in prices and supply fears since Russia's invasion of Ukraine last month have led to calls for OPEC to increase output
Business
Flynas to take off for Belgrade
The airline will fly three weekly flights to Serbia's capital.
- The flights to the capital of Serbia will run each Monday, Wednesday and Friday, on a seasonal basis, effective from May till late September
- Flynas intends to order 250 aircraft
Business
Day 1 of Global Entrepreneurship Congress: Pacts worth $4.2 bn signed
A total of 33 agreements besides several investments worth more than $4.2 billion were signed on the first day of...
- These are aimed at supporting entrepreneurship in various fields and enhancing the Kingdom’s status as an attractive environment for pioneers, innovators and creators.
- Saudi Aramco signed 10 memoranda of cooperation and two agreements with local and international firms in digital transformation, information technology, and national development.
Business
Mawani, LogiPoint launch new logistics development at Jeddah Port
This will enhance the port's infrastructure and operating capabilities, expand capacity, and enable logistical efficiency.
- This will enhance the port's infrastructure and operating capabilities, expand capacity, and enable logistical efficiency
- The project represents the first phase in LogiPoint's ongoing infrastructure development plan worth SAR400 million over the next two years
Business
Huawei reports record net profit
The telecoms giant Huawei posted a net profit of $17.8 billion in 2021.
- The company has been caught in the crosshairs of the US-China trade and technology standoff, with US under Trump rule moving to cripple it over espionage concerns.
- Its revenue slumped by around 29 percent as it grappled with US sanctions aimed at blocking access to key technology and supplies.
Germany mulling Israeli anti-missile shield purchase
An Arrow 3 would be sent in space if a rocket attack is uncovered, to intercept and to destroy the...
- Germany need anti-missile shield to protect it against the Russian threat, parliament of the country said in a an official statement
- Israeli Arrow 3 system costs $2.2 billion could be operational from 2025 in Germany
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Qatar Airways’ profits fall
Economy
Latest News
Emirates Health Services to adopt AI technology to boost hospital care services
Dubai, UAE-- Emirates Health Services will employ AI technology in the application of patient room monitoring system to further enhance...
Business
Russian and Asian millionaires drive Dubai realty boom
Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms are playing a crucial role in solidifying Dubai's global real estate...
Business
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Geostrategy
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
- Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
- The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.
Business
BFB, The Family Office sign partnership
Bahrain FinTech Bay is a fintech ecosystem builder.
- BFB said that it will also explore the development of innovative digital investment solutions aligned with market trends.
- Bader Sater, CEO of Bahrain FinTech Bay. "Our combined strengths will lead to the creation of cutting-edge digital investment offerings that cater to the market's evolving needs."
Economy
Iran and Cuba to set up joint ‘technology and innovation’ center
Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...
- The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
- Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements