EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
Air traffic in Saudi Arabia surges 16 percent in 2023
Riyadh, Saudi Arabia - Saudi Arabia's aviation sector soared to new heights in 2023, with a significant increase in both...
Business
Business
Number of educational firms in Ajman Free Zone grew by 17 percent in 2021
The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to...
- Ajman Free Zone is home to more than 240 educational facilities in 2021.
- AFZ attributed the growth to its strategic location, modern facilities and infrastructure, innovative and seamless services.
Business
YPO Gender Equality Survey: Executives must prioritize mental health
Mental health is a priority for 99 percent of female and 92 percent of male executives, according to the Gender...
- The survey with 300 leaders, of all ages, across 57 countries, was aimed at raising awareness around gender equality.
- Loneliness as a challenge within the workplace has decreased from 2021 and was referenced by fewer than 15 percent of the participants.
Business
Yahsat and Al Seer Marine to test line-fitting unmanned vessels
Yahsat Government Solutions (YGS) and Al Seer Marine PJSC will test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications...
- The two entities signed an MoU regarding the same on Tuesday at World Defence Show in Riyadh according to a press release
- The MoU will enable Al Seer Marine to build on Yahsat’s extensive experience in delivering highly secure satellite communications
Business
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.
- Mortgage deals worth $48.27 million was also recorded in Dubai
- This was in addition to 70 gift transactions amounting to $34.5 million
Business
Morocco truckers observe strike to protest soaring fuel price
Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil...
- Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers' union
- The government of Prime Minister Aziz Akhannouch has for weeks been facing growing unrest over mounting living costs
Business
Oil restarts to flow in Libya as gunmen lift blockade
Libya's National Oil Corporation said Tuesday that an armed group blockading two major oil fields had lifted its siege and...
- The NOC had announced the suspension of production on Sunday at the vast Al-Sharara and Al-Fil fields after gunmen closed pipelines to the coast
- Libya, which sits on Africa's largest crude reserves, has been rocked by 11 years of conflict since a NATO-backed revolt toppled and killed dictator Moamer Kadhafi
Business
Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and...
- However, the risk assessment firm expects Islamic finance to grow even more in 2022 as economic recovery continues in the GCC
- According to Moody’s, Islamic fund AUM continued to grow robustly in 2021 as the economy improved and equity markets performed well
Business
$2.1bn in deals signed at Saudi Arabia’s first defense show: GAMI
Saudi Arabia's first World Defense Show has seen the signing of 22 industrial partnerships with domestic and international defense companies...
- General Authority for Military Industries (GAMI), which is also the regulator of the Kingdom’s defense sector, said that the deals cover a broad range of activities.
- GAMI is the founder of the World Defense Show and the defense industries sector’s regulator.
Geostrategy
US envoys held energy talks with Venezuela’s Maduro: W.House
The White House said Monday that a US delegation held weekend talks in Venezuela with the government of President Nicolas...
- US has broken it's diplomatic relations with Nicolas Maduro, imposed sanctions on Caracas in a bid to force Maduro from power in 2019
- Venezuela President has assured Vladimir Putin of his "strong support" in the wake of the invasion
Business
Saudi, Lockheed Martin in missile defence deal
Saudi military industries authority approved two projects to produce launchers and other equipment used in the THAAD anti-missile defence system.
- Saudi Arabia has signed defence deal with the US firm as the kingdom aims to manufacture 50 percent of its defence needs by 2030
- In 2019 when KSA was in conflict with Iran, US had deployed THAAD and Patriot defence systems in Saudi Arabia
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
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Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
Business
China-Arab States Expo kicks off, highlighting deep trade ties
Yinchuan, China--The sixth China-Arab States Expo commenced today in Yinchuan, northwest China's Ningxia Hui Autonomous Region, marking yet another chapter...
Business
UAE and Indonesia pledge to enhance economic cooperation
Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation...
Economy
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Business
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the period from 10 Sept. to 14 Sept. 2023, is QR 88.73 million.
- The volume of real estate trading in sales contracts between Sept. 3 and Sept. 7 reached more than QR 308 million.
Business
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
- Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.
- Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.
Business
UAE, Armenia ink 4 MoUs at joint business forum
YEREVAN, ARMENIA - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...
- A UAE delegation of around 100 representatives of government and private entities took part in the forum.
- In the first seven months of 2023, trade between UAE and Armenia was valued at US$870 million.