Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
Economy
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
UAE investments in Egypt rise by 169% in 6 months
In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about...
- In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion
- The value of remittances from Egyptians working in the UAE rose by 1.4 percent, reaching US$3.5 billion during the 2020-2021 fiscal year
Business
Dubai Media Inc affiliated to Dubai Media Council
In his capacity as the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has...
- Sheikh Mohammed issued a decree appointing Sheikh Hasher bin Maktoum bin Juma Al Maktoum as Chairman of DMI.
- DMI has a strategy will leverage the expertise of a young and talented Emirati workforce to make the leap in delivering quality media content
Geostrategy
UAE Ambassador to Iran will soon resumes duties
In line with UAE efforts to strengthen relations with the Islamic Republic of Iran, the Ministry of Foreign Affairs and...
- The decision to appoint an envoy to Iran comes as part of a previous decision to increase diplomatic representation to the rank of ambassador
- The ambassador would contribute to advance bilateral relations between UAE and Iran
Business
Saudi business tax payers asked to submit July declaration
The Zakat, Tax and Customs Authority has called on taxpayers from the business sector subject to value added tax (VAT)...
- The Authority has urged business sector taxpayers to promptly submit their tax declaration in order to avoid a penalty.
- Penalty will be charged at a minimum of 5 percent and a maximum of 25 percent of the tax value which the taxpayer had to declare.
Business
Cross-currency payments face challenges
Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they...
- Cross-border payments are not always hugely inclusive to individuals, according to ManagedLEI, a Registration Agent of Legal Entity Identifiers.
- In countries where access to a bank account is low, for example, not everyone will be able to make cross-border transactions.
Geostrategy
UAE, Egyptian leaders review fraternal relations in Al Alamein City
President Sheikh Mohamed bin Zayed Al Nahyan arrived in Al Alamein City on a visit to the Arab Republic of...
- President Sheikh Mohamed bin Zayed Al Nahyan has arrived in Al Alamein City on a visit to the Arab Republic of Egypt.
- President of Egypt, Abdel Fattah el-Sisi received UAE President Sheikh Mohamed at the airport where the leaders discussed cooperation between the two countries.
Economy
Dubai’s RTA reduces energy consumption by 18 percent
Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority said that RTA had achieved...
- RTA had managed to reduce the total emissions by 13 percent and energy costs by 10 percent compared with the average consumption from 2016 to 2019.
- RTA has a roadmap that aims to achieve zero-emission from public transport in Dubai by 2050.
Economy
WGES 2022 to encourage investment in green projects
The 8th World Green Economy Summit (WGES), to be held in Dubai, will focus on developing investment partnerships in green...
- In WGES 2022 several heads of states and governments, experts from government and non-government sectors would participate.
- The summit would enable finding innovative solutions and financial tools that promote clean and renewable energy projects and sustain growth
Market Report
Saudi, Emirati stocks end the week in red
Despite a 3.9 percent increase in the food and beverage sector and a generally mixed week for the Saudi Stock...
- The general index of the Saudi stock market "TASI" ended Thursday's trading down 0.2 percent, or 25.01 points.
- The index was down 0.3 percent, while three sectors on the Dubai Stock Exchange were down 0.93 percent, with banks leading the decline.
Research
Saudi Arabia advances in education competitiveness index
The Kingdom of Saudi Arabia has progressed in the education, research, and innovation indicators per the World Competitiveness Yearbook 2022...
- The Kingdom’s ranking jumped to the 24th position in the report, compared to 32 in 2021.
- The Kingdom advanced two steps in the scientific infrastructure indicator, garnering the 30th position this year compared to 32nd position in 2021.
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Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
Economy
Company News
Strong growth key to GCC’s FDI appeal
Infographics
Latest News
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
Geostrategy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
Economy
IMF approves $1.3bn for Morocco to help transition to a greener economy
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
Geostrategy
Most Read
Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims
Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...
- Under the new regulations, the licenses will be valid for a period of five years, and the estimated fee 100,000 Saudi riyals
- To qualify for these licenses, companies must possess a valid trade register and have a minimum capital of 500,000 Saudi riyals
Business
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
- The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
- The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
Economy
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...
- The collaboration between Greece's Independent Power Transmission Operator and Saudi National Grid will result in each party holding a 50 percent stake
- Besides this partnership with Saudi Arabia, Greece is also in the process of constructing an undersea cable to link its grid with Egypt