UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.
Business
Business
Abu Dhabi Exchange and FTSE Russel create new benchmark indices
The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop co-branded indices, supporting the exchange’s recently launched...
- FTSE ADX sector indices will take the place of the existing sector indices, leveraging the Industry Classification Benchmark.
- ADX is the first exchange in the region to make FTSE Russell its index administrator.
Economy
Egypt’s plasticware exports rose by 43% in 2021: Trade minister
Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted...
- Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted in 2020
- In 2021, the Egyptian exports recorded their highest growth of $31 billion despite the ongoing Covid-19 pandemic
Analysis
UNWTO optimism to cheer up MENA tourism
While the likes of Egypt, Morocco, Tunisia, and Jordan depend heavily on tourism for revenue, the UAE and Saudi Arabia...
- UNWTO Executive Director Zoritsa Urosevic has said that the ‘future is bright’ for the tourism sector
- Tourists ‘will come back’ and the industry will recover from the pandemic because it is ‘very resilient,’ she said
Business
Spotify, Anghami vie for local talent in MENA
Anghami is developing social features that will enhance the listening experience of friends and family members and create communities on...
- Anghami is developing social features that will enhance the listening experience of friends and family members and create communities on the platform
- In the MENA region, Spotify has come up with a local team that understands the needs of regional music creators and listeners
Business
AWPT wins $52.17m Makkah contract
The company will manage all components of Zamzam water well.
- The company will manage, operate, and maintain the project’s facilities, which include all components of the Zamzam water well
- The move comes in line with AWPT’s strategic plan and objectives as well as Vision 2030 to develop all aspects of water sector
Geostrategy
UAE, Norway discuss cooperation, eye better relations
The UAE and Norway have discussed cooperation in relations between the two countries, said local media reports. The UAE Minister...
- The two sides reviewed a number of issues related to the work program of the UN Security Council, which is chaired by the Kingdom of Norway this month.
- The UAE Foreign Minister and the Norwegian counterpart also discussed the developments of the COVID-19 pandemic and the efforts to contain the virus.
Business
Investcorp acquires Resa Power
Resa serves over 6000 clients across the US and Canada.
- Investcorp’s partnership with Resa will focus on continuing the Company’s organic growth, expanding geographically across North America.
- Resa provides maintenance and testing, systems integration, and related distribution services to clients across the renewables, commercial markets in North America.
Business
DAFZ unveils “Talent Pass” license
The Dubai Airport Freezone (DAFZ) has launched the ‘Talent Pass’ license for freelance work (self-employment).
- The initiative is expected to further vitalize the business environment in the free zone and strengthen Dubai’s position as a global destination for innovators and talent
- The ‘Talent Pass’ qualifies its holder to obtain a residence visa for three years
Business
SCC’s committee endorses Sharjah Free Zones policy draft
The Sharjah Consultative Council (SCC) has approved its recommendations on the policy of the Sharjah Ports, Customs and Free Zones...
- The meeting was chaired by Ali Mehd Al Suwaidi, Chairman of the Sharjah Consultative Council
- The members of the Council also discussed the provisions of the recommendations and addressed a number of topics
Business
Dubai Free Zones Council mulls facilitating business bank accounts for SMEs
A meeting of the Dubai Free Zones Council (DFZ Council) on Sunday discussed how to facilitate opening business bank accounts...
- These bank accounts will be facilitated in collaboration with the UAE Banks Federation.
- Council members also highlighted their readiness to support the Emirati Human Resources Development Council in Dubai, which DFZ Council joins as a member.
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Company News
Latest News
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
Geostrategy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
Economy
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Business
Estithmar opens new subsidiary in Jordan
The subsidiary was set up in partnership with a Jordanian company.
- In August, Estithmar Holding subsidiary Elegancia Healthcare established a branch in Iraq.
- Estithmar Holding had signed agreements with the Iraqi investment authority worth $7 billion.
Business
Agri-Nutrients SABIC, US firms together support sustainable farming
RIYADH, SAUDI ARABIA - Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
- Through these collaborative efforts SABIC aims to help reduce the carbon footprint in the agricultural supply chain.
- Farmers will use SABIC's bio-fortified urea for the 2023 agri-nutrient season and enroll in ADM's Re:Generations program.
Business
Saudi first quarter travel balance of payments surplus $6 billion
Riyadh, Saudi Arabia -- Saudi Arabia achieved a surplus of SAR 22.8 billion ($6.07 billion) in the balance of payments...
- The Kingdom had recorded a deficit of SAR 1.6 billion in Q1 2022, the Kingdom's Ministry of Tourism said.
- Incoming tourism revenues increased by about 225 percent compared to the first quarter of 2022, to reach about SAR 37 billion.