KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Business
World tourism won’t return to pre-Covid levels until 2024: WTO
In Europe and the Americas, foreign visitor arrivals surged by 19 percent and 17 percent, respectively, last year over 2020....
- Tourism revenue in 2020 was 72 percent down on the previous year which closed with the Covid onset
- The highly contagious Omicron variant, though mild, will "disrupt the recovery" in 2022
Business
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...
- Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
- The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
Business
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...
- The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
- The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
Business
Masdar joins consortium to build solar power facilities in Indonesia
Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and...
- The renewable energy company signs MoU with Singapore’s Tuas Power, France’s EDF Renewables and PT Indonesia Power.
- Singapore is looking to import as much as 4 gigawatts of low-carbon electricity by 2035, which would constitute 35 percent of its total supply.
Business
SCCI teams up with Emirates Creative to support innovation
The Sharjah Chamber of Commerce and Industry (SCCI) has signed a strategic cooperation agreement with the Emirates Creative Association to...
- Both have agreed to develop methods for systematic research, sponsoring and organizing conferences
- They also agreed to launch an action plan to implement joint projects in creativity and innovation
Business
Al Rajhi issues $1.17 bn Sukuk
The settlement issuance was set on 23 January 2021.
- The number of Sukuk stands at 6,500, based on the minimum denomination and total issue size.
- The return on the Sukuk offering is estimated at an annual fixed rate of 3.5 percent.
Business
Expo 2020 hits a new milestone with 10m visits so far
Expo 2020 Dubai visitor numbers continue to rise, reaching 10,188,769 visits as of 18th January, while Expo 2020 Dubai’s virtual...
- The visitors were attracted by the first Global Goals Week to be held outside of New York and a star-studded K-pop concert
- All Expo visitors ages 18 and above must show either proof of vaccination or a negative PCR test result taken within the previous 72 hours
Business
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral trade
- Chairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
- Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Business
Emaar EC inks $16m contract
Emaar EC signed the $16-million contract with SAFE.
- As part of the contract, SAFE will provide security services at the King Abdullah Economic City
- It has a duration of five years from the date of signing, which happened on Monday, January 17
Science
US airlines once again warn against 5G deployment near airports
The heads of the largest US airlines warned of a "catastrophic disruption" to travel and shipping if telecom firms rolled...
- Verizon and AT&T have already twice delayed the launch of their new C-Band 5G service
- They were heeding warnings from airlines and aircraft manufacturers that the new system might interfere with certain devices
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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
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Air Arabia to double fleet
Business
$73 bn in saving deposits held by UAE banks during H1 2023
Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the...
Business
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
Geostrategy
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Business
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
- The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com.
- The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022 such as the percentage of expatriate workforce.
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
- The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
- Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.
Business
Vietnam’s VNG files for US IPO
VNG operates music streaming, mobile payment and online games.
- Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
- VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.