A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
Economy
Business
Borsa Istanbul to provide consultancy services to Abu Dhabi Securities Exchange
The MoU is the latest in a series of strategic partnership agreements signed by ADX as part of its strategy...
- The agreement was signed during the visit of the President Recep Tayyip Erdoğan of Turkey, to the UAE on Feb 15.
- Borsa Istanbul will also provide consultancy service to ADX in the establishment of systems, integration, updating the platform.
Business
DMCC to collaborate with C3 to initiate Impact Scale-Up program in Dubai
C3 is a UAE-based social enterprise empowering impact-driven entrepreneurs across the Middle East, Africa and Turkey.
- The comprehensive training and networking program will provide a proven blueprint to successfully enter the UAE market, and connect with local and regional investors.
- DMCC will offer a total of 20 "Impact" business licences to successful firms, providing them with substantial savings on business setup costs through 70 percent discount.
Business
UAE and Turkey to cooperate in agriculture, rural development
The pact is in line with the UAE’s leadership to enhance international cooperation and exchange of successful experiences.
- Areas of cooperation include agricultural pest control and plant protection, organic agriculture, technology-based agricultural production, food safety, food production.
- The two countries will also collaborate in the promotion of joint agricultural ventures between their private sectors, and development of specialized agricultural zones.
Business
MAWANI signs pact with Bahri to build logistics park
The Saudi Ports Authority (MAWANI) signed an agreement with shipping giant Bahri to build and operate an integrated logistics park...
- Once built, Bahri will manage operations at the state-of-the-art facility for a duration of 20 years.
- The 95436m2 logistics zone will provide storage and handling services for all types of inbound and outbound shipping containers.
Business
Dubai International Financial Centre records best performance in 17 years
Dubai International Financial Centre (DIFC) has reported its best annual performance to date, recording its highest ever annual revenue and...
- The Centre said it achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021.
- Revenue increased by 16 per cent to AED897 million year-on-year versus AED774 million in 2020, and up by 7 per cent from AED838 million in 2019 (pre-pandemic levels).
Business
Pandemic turns business models upside down, says Fjord Trends report
Nearly two years of disruption to the fabric of society due to global pandemic has resulted in a collective shift...
- The rising individualism underlined by a “me over we” mentality has profound implications for organizations in how they lead their employees.
- The metaverse will be a new frontier of the internet, combining all the existing layers of information, interfaces, and spaces with which people interact.
Economy
UAE industrial exports surge to $32.6bn in 2021: Ministry of Industry
According to the 2021 annual report released by the Ministry of Industry and Advanced Technology, the rise in exports coincided...
- Also, the National In-Country Value has succeeded in circulating AED41.4 billion ($11.5 billion) back into the local market.
- UAE rose five places—from 35 to 30-- in the Competitive Industrial Performance Index issued annually by the United Nations Industrial Development Organization.
Economy
Algeria president announces unemployment benefit for youth
The payments will be made "to preserve the dignity of young people", Algerian president Tebboune said.
- The payments will be made "to preserve the dignity of young people", Algerian president Tebboune said
- It will be accompanied by medical benefits, while some taxes on consumer products will also be suspended
Economy
Markets rally on hopes for easing Russia-Ukraine tensions
While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a...
- While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a conflict in Eastern Europe
- The mood lifted after Russia's defence ministry said some of the more than 100,000 soldiers amassed around Ukraine in recent weeks had started to return
Economy
Sharjah Police returns around AED500m to owners in 2021
A number of beneficiaries of the initiative are said to have expressed their happiness as they were able to recover...
- Colonel Youssef Obaid bin Harmoul, Director of the SP’s Comprehensive Police Stations Department, said this happened due to the Al Solh Khair initiative
- It resulted in 12,798 reconciliations out of 27,408 criminal reports in 2021, which included 8,523 financial reports, and the return of AED500m
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A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Company News
Latest News
Saudi PIF signs MoU with Oman Investment Authority to expand investment in Oman
Riyadh, Saudi Arabia - The Public Investment Fund (PIF) announced on Thursday that it has signed a Memorandum of Understanding...
Bahrain’s RERA revokes real estate firm’s license for ‘breach of regulations’
Manama, Bahrain-- for "exceeding the scope of the permit." The owner had exceeded the scope of the permit which was issued...
Economy
Clean cooking to save millions, boost gender equality
He was referring to a new IEA report which suggests that universal clean cooking access could be reached worldwide by...
Economy
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Economy
GCC central banks follow Fed in raising key rates
The decision by the central banks, in the US and most of the Middle East, to hike interest rates are...
- The UAE's central bank raised the base rate applicable to the overnight deposit facility (ODF) by 25 basis points – from 5.15 to 5.40 percent
- The decision to raise key rates comes as central banks across the world struggle with the challenge of controlling inflationary pressures
Business
Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
- As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
- The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Economy
Kuwait posts fiscal surplus after almost a decade, says finance ministry
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
- More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
- Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.