SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
Economy
Business
UAE, European Union discuss ways to boost cooperation
The meeting was hosted at the UAE Ministry of Finance’s headquarters in Abu Dhabi.
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Arts & Culture
Al Dhafra Festival kicks off in Abu Dhabi
The festival is organized by the Cultural Program and Heritage Festivals Committee, and will run till January 22.
- The festival features 313 camel runs and this new edition of the event includes the launch of the Bairaq Al Emarat Award for Asayel and Majahim camel breeds
- Coinciding with the UAE’ Golden Jubilee Celebrations, the Festival's activities now run from 28th October, 2021, to 22nd January, 2022
Economy
Morocco’s GDP expected to grow by 3.2 percent in 2022: World Bank
The World Bank’s Global Economic Prospect reported on Tuesday that Morocco’s GDP is expected to grow by 3.2 percent in...
- Output in 2023 is projected to remain about 5 percent smaller than expected before the pandemic, the World Bank notes.
- The agricultural output returns to historical averages after the extraordinary performance of the primary sector in 2021, a WB report said.
Business
UAE, European Union discuss ways to boost bilateral cooperation
The UAE and the European Union discussed ways of boosting bilateral cooperation between them to achieve mutual benefit across various...
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration.
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Business
Dana Gas, Crescent Petroleum report record sales gas production
Dana Gas and its partner Crescent Petroleum have reported record sales gas production from their operations in the Kurdistan Region...
- Dana Gas and Crescent Petroleum jointly operate the Khor Mor and Chemchemal gas fields on behalf of the Pearl Petroleum consortium.
- The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including a bypass project.
Business
Saudi Arabia and Tunisia sign energy agreement
The MoU encourages holding joint seminars and training courses on renewable energy, energy efficiency and conservation.
- The MoU covers the fields of renewable energy, energy efficiency and conservation, and includes cooperation on management of renewable energy
- The MoU aims at exchanging information and expertise between the two countries in these areas through related research and studies as well
Business
Saudi-Emirati Council meets to discuss economic ties
The UAE hosted a meeting of the Finance and Investment Committee of the Saudi-Emirati Coordination Council to discuss financial and...
- From the UAE, Younis Haji Al Khoori, Under-Secretary of Ministry of Finance, chaired the meeting alongside senior officials from MoF
- From Saudi Arabia, Abdulaziz Al Rasheed, Assistant Minister of Finance for International Financial Affairs and Macro-Fiscal Policies chaired the meeting
Business
Saudi Aramco and Hungary’s MOL to buy Polish oil assets
Poland's state-owned refiner PKN Orlen announced Wednesday plans to sell oil assets to Saudi Aramco and Hungary's MOL in order...
- PKN Orlen to sell oil assets to Saudi Aramco and Hungary's MOL in order to meet EU conditions for its merger with domestic rival Grupa Lotos.
- Saudi Aramco will buy a stake in Lotos's refinery and MOL will purchase several hundred Lotos petrol stations to fulfil the conditions.
Business
Mining third pillar of Saudi economy, ripe with opportunities: PIF governor
The mining sector is the third pillar of Saudi Arabia's economy and the kingdom has enormous natural resources and offers...
- PIF considers mining one of the main strategic sectors to realize the Saudi Vision 2030 goals, says Yasir bin Othman Al Rumayyan.
- Saudi Arabian Mining Company (Ma'aden) has doubled its revenues to become a world-class operator, he said.
Business
Abu Dhabi University earns 5 star rating for online learning
Abu Dhabi University (ADU) has earned the highest rating of 5 stars by Quacquarelli Symonds - QS Stars Rating for...
- The ADU has achieved an overall score of 95 percent in the Online Learning category
- The university integrated modern technologies into its curricula, including virtual reality (VR), augmented reality (AR) and 3D technology
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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
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
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Saudi Esports Federation to launch ‘Next World Forum’ in Riyadh
Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at...
Business
Saudi smart homes market builds on digitization drive
Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom...
Business
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Business
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.
- Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
- Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".
Business
Stocks advance but traders wary of US rates outlook, China concerns
The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news,...
- The gains followed a mixed showing on Monday as investors tried to turn the tide of losses that have swept over markets in recent weeks.
- Markets globally have struggled this month on the prospect that the US Federal Reserve will hike borrowing costs once more.
Business
Ajman H1 real estate transactions increase by 15 percent to $1.95bn
Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...
- Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
- May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totaling AED1.9 billion.