China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...
Geostrategy
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy
Business
Tech giants clamp down on Russia state-linked news
Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik.
- Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik
- Twitter and Facebook have both been hit with access restrictions in Russia since the invasion of Ukraine
Economy
Explained: Inflation and its impact on GCC
It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of...
- It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of living in a country, is affecting the region?
- Inflation represents how much more expensive the relevant set of goods and/or services has become over a certain time period
Economy
Saudi job market to stay upbeat in 2022
During the past four years, the kingdom has created 555,000 new jobs as part of its plan to develop $1...
- Slump in other job markets makes candidates open to moving the kingdom for employment.
- Working on infrastructure projects underway in the kingdom will demonstrate future companies' capacity to work within different cultures and adapt to different cultures.
Business
Bangladesh to partner with UAE to boost trade in Middle East
The Federation of Bangladesh Chambers of Commerce and Industries, or FBCCI, will launch a UAE-Bangladesh Business Council next month to...
- Bangladesh’s Prime Minister Sheikh Hasina is likely to launch the business council
- The business council is expected to strengthening the trade relations with the UAE
Business
Bahrain eyes cooperation with Germany in aviation, tourism
Bahrain's Minister said the private sector plays a key role in strengthening bilateral relations, as it boosts the volume of...
- Bahrain's Minister stressed the importance of attracting more expertise and investments.
- He also highlighted the incentive packages provided by Bahrain for overseas investors.
Business
Shurooq to invest in GCC, Arab countries, Australia, says its Executive Chairman
Shurooq is currently considering in several Arab and Gulf Cooperation Council (GCC) countries, including Egypt, Saudi Arabia, Oman and Qatar,...
- Shurooq has received a proposal to establish similar entities to Sharjah Sustainable City in Australia and the US.
- It is now engaged in tourism, environment, transport and project management sectors and will soon invest in health, education and robotics.
Economy
DEWA completes Smart Grid Strategy short-term goals, installs 2m smart meters
Dubai Electricity and Water Authority (DEWA) has said it completed all short-term goals of its Smart Grid Strategy 2014-2035 as,...
- Between 2015 and 2020, it replaced all electricity and water meters with smart meters, a deployment of over two million smart meters.
- Between 2015 and 2017, DEWA fully automated its transmission network connected to the 400kV and 132 kV substations.
Oligarchs in the crosshairs as West targets Putin
Metals tycoon Oleg Deripaska from Russia has called for peace talks over Ukraine crisis "as soon as possible" between Russia...
- US, European G7 allies will set up a "transatlantic task force" to "identify and freeze" assets belonging to Russian officials and elites close to the Russian government
- One of Russia's richest billionaire, Mikhail Fridman has called the war in Ukraine a “tragedy” and called for the “bloodshed” to end
Economy
Makkah governor launches $4bn projects in the region
The new initiatives are expected to support environmental and water sustainability in accordance with the Saudi Vision 2030.
- The total cost of the 72 projects is said to be more than SAR15 billion ($4 billion)
- They are said to spread across several sectors, including water and the environment
Economy
Oil and safe havens rally, ruble sinks on Russia sanctions
Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over...
- Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine
- Russian President Vladimir Putin's decision to send troops across the border last week has sent shivers through trading floors as investors fret over a protracted war
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China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...
Geostrategy
Company News
Latest News
‘UAE’s compliance level high in anti-money laundering’
She adds that the Ministry’s participation in this workshop forms part of its commitment to fostering regional and international cooperation...
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...
Economy
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...
Geostrategy
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Geostrategy
UAE launches National Program for Infrastructure Development – Salamah 365
DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure...
- Salamah 365 aims to enhance public safety by leveraging innovative solutions and interactive warning systems to rectify identified accident blackspots.
- It also aims to implement a locally tailored model of pedestrian crossings, predict floods before they happen by monitoring dams and valleys.
Business
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in...
- Before it, the US giant ExxonMobil saw its second-quarter profits tumble 56 percent to $7.9 billion, while rival Chevron saw a similar fall to $6 billion.
- Shell saw a 64 percent drop in net earnings to $3.1 billion, while TotalEnergies fared better with just a 28 percent slide to $4.1 billion.
Business
Bupa Arabia H1 2023 net profit $149m
Rise was driven by a jump in insurance revenue.
- The corresponding figure in the same period last year - H1 2022- was US$79.8 million.
- The company reported a jump of US$74.9 million YoY in insurance services results.