UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
Economy
Economy
Ukraine crisis threatens Arab wheat supplies
A look at the Arab countries that are dependent on wheat imports from Ukraine and Russia.
- Russia is the largest producer of crude oil, second largest producer of gas and the largest exporter of wheat.
- Many Arab countries depend on Russia for their wheat imports and fear disruption in supplies.
Economy
Discussion held on a study as part of Riyadh Economic Forum’s next edition
A panel discussion was organized by the Riyadh Economic Forum to review the progress of an important study, “New Investments,...
- Several government officials, academics, businessmen and women and others participated in the discussion.
- The study explores future scenarios for the industrial fields related to the knowledge economy.
Business
Inaugural session of Qatar-Nigeria Economic Forum begins
The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.
- The Forum aims to enhance economic cooperation and review business opportunities between the two countries
- A special focus will be placed on cooperation in the fields of manufacturing, construction, oil and gas and technology
Business
World’s first robot citizen Sophia to attend Dubai audit conference
The humanoid robot Sophia, the world's first robot citizen, will arrive in Dubai on Tuesday, March 8, to participate in...
- Sophia will attend largest smart conference for internal auditors, the 20th Annual Regional Audit Conference from March 7- 9.
- Sophia became the world's first robot citizen after Saudi Arabia granted her citizenship in October 2017.
Economy
Tunisia starts operation of 10MW solar plant in Tozeur governorate
A 10 megawatt solar photovoltaic plant named Tozeur 2 has started operations in Tozeur, a governorate in southwest Tunisia. The...
- The plant, built at a cost of 25 million dinars ($8.4m) will consolidate the production of the first plant Tozeur 1, to reach a total capacity of 20 megawatts.
- The two plants will supply one third of the governorate's electricity needs, equivalent to the consumption of about 18,000 families.
Science
Jordan inventors use TechWorks to realize dreams
TechWorks is a Jordanian platform aimed at bringing together youth, ideas and resources to jump-start innovations.
- Set up in 2018, TechWorks says its mission is ‘to plug into entrepreneurial and innovation ecosystems’ and turn ideas into reality
- Affiliated with a foundation set up by Crown Prince Hussein, it is equipped with technology such as 3D printers
Geostrategy
Russia threatens Ukraine ‘statehood’ as sanctions tighten
Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one...
- Russia has threatened a wider war if a no-fly zone is set up by any Western power
- Ukraine has received weapons, ammunition and funds from its Western allies
Economy
US is finally cleaning up its abandoned, leaking oil wells
In the United State, it took more than a century to pass regulations governing record-keeping for wells and their sealing,...
- The US is pockmarked with millions of abandoned oil wells that are unsealed but haven't produced anything in decades
- The US Environmental Protection Agency estimates that there are around 3.5 million orphaned wells that can leak oil and brine
Economy
UAE, IRENA to give clean cooking energy to communities
The initiative, called Beyond Food, was launched in collaboration with the Nama Women Advancement Establishment.
- The UAE and IRENA will have tied up to promote the deployment of clean cooking solutions across the world
- The partnership aims to expand and bring in more key actors working on this issue in the coming days
Economy
Saudi Arabia lifts most Covid-19 restrictions
The decision includes suspending ‘social distancing measures in all open and closed places’ including mosques.
- The Covid-19 pandemic hugely disrupted Muslim pilgrimages, which are usually key revenue earners for the kingdom, bringing in some $12 billion annually
- In 2021, the pandemic forced Saudi Arabia to downsize the hajj for a second year, and just 60,000 fully vaccinated citizens and residents taking part
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UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Company News
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UAE president and Jordan’s king renew resolve to boost ties
The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic...
Economy
Global outstanding sukuk cross $800bn for first time: Fitch Ratings
Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and...
Business
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Economy
Jordan and Cyprus to deepen energy, trade, tourism ties
Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to...
- Jordan's king and Cyprus president met at Al Husseiniya Palace, and discussed enhancing cooperation in various fields
- The king underscored the need to strengthen bilateral relations and cooperation, especially in energy, trade, industry, tourism
Geostrategy
Saudi Arabia funds construction of library in Bosnia and Herzegovina
SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone...
- The funding for construction and equipping of the library has been through a US$22 million grant provided by the Saudi Fund for Development.
- The new library will act as a central hub to connect the university’s 28 sub-libraries and will contribute towards enhancing its educational capabilities.
Business
Ooredoo Algeria gets new CEO
Roni Tohme, the Acting CEO, has been confirmed as the CEO.
- Tohme brings over 21 years of experience in telecoms and finance to his new role, having previously served as Ooredoo Algeria’s Chief Financial Officer.
- During his tenure as CFO, he played a vital role in shaping an agile and lean finance department, contributing to the company’s business transformation.