Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh
Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters...
Business
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
Economy
COP26 sees new coalition for net-zero tourism
The SGTC will be headquartered in Riyadh, Saudi Arabia, and may open regional offices in other countries.
- The STGC is a multi-country, multi-stakeholder coalition established to lead, accelerate, and track the tourism industry’s transition to net-zero emissions
- It is also expected to drive action to protect nature and support communities
Economy
Oil-rich UAE to burn waste to make power
As the UAE has mushroomed from a desert outpost to a thriving business hub, waste has multiplied. So has power...
- The Sharjah facility, the first one to be built, will burn more than 300,000 tonnes of waste per year
- The plant will also reduce UAE’s reliance on gas-fuelled electricity stations
Economy
Arab nations’ pledge bolsters COP26 message
The UAE, Saudi Arabia, and Egypt have made some strong climate-action pledges at or before COP26.
- The summit may not achieve its target of reducing carbon emissions by 45 percent by 2030
- COP26 wants governments to adopt carbon emission targets through 2030
Economy
Dubai SME extends AED75.6 million in financial facilities to Global Village
The 25 kiosks were allocated for startups in the food and beverage (F&B) sector, chiefly restaurants and cafes, wholly owned...
- Under the agreement, 25 kiosks have been allocated for Emiratis within Global Village to launch and grow their business
- Dubai SME, through its online registration portal, received more than 200 applications for Global Village
Business
Three agreements signed in Dubai for self-driving solutions
The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots.
- The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots
- Majid Al Futtaim and Yandex have partnered to explore the independent technology solutions to enhance the scope of the last-mile delivery of Carrefour orders
Economy
UAE accounts for 40% of Netherlands’ exports to GCC: Dutch minister
Tom de Bruijn’s comments came during a business forum hosted in Dubai as part of a high-level trade mission to...
- The forum was organised by the Consulate General of the Netherlands in Dubai in cooperation with Dubai Chamber
- The UAE’s non-oil trade with the Netherlands has reached about $3 billion in 2020
Interview
‘Oil unlikely to hit US$100 in 2022’
The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS...
- Garbis Iradian, chief economist for MENA at Institute of International Finance (IIF), tells TRENDS in an exclusive interview that the prices would average US$70 per barrel in 2021
- There are expectations of the US oil production recovery in 2022, which would increase the supply easing pressure of price
Business
Zain to solidify 5G networks
Signs MoUs with Huawei, Nokia, Tata, BTAS and MSSP pact with Fortinet.
- The MoU with Huawei entails mutual cooperation for the full deployment of the 5G network within the SME sector.
- Zain's agreement with Tata Communications includes joint projects related to SD-WAN and global contact centers.
Business
DP World and Indonesia Investment Authority plan $7.5bn long-term investment
DP World and the Indonesia Investment Authority (INA) have signed an agreement to form a consortium and working team to...
- The investments would include inland terminals, cargo parks, feeder network systems, landside transport and industrial zones.
- They will also explore collaboration with the Indonesia Port Corporations (Pelindo).
Economy
UAE’s ADNOC reinstates full oil supplies in Dec
It will be the first time since the oil price crash in the second quarter of last year when the...
- It will be the first time since the oil price crash in the second quarter of last year due to the COVID-19 pandemic that ADNOC has not implemented any supply cuts
- Brent crude futures gained nearly 60% since the beginning of the year to hit a near three-year high on Monday
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Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh
Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters...
Business
Company News
Latest News
Saudi Arabia and France sign MoU to deepen ties in energy sector
Riyadh, Saudi Arabia--Saudi Arabia and France have signed a memorandum of understanding (MoU) to cooperate in the field of energy,...
Economy
Dubai Police records 65,942 ‘transactions’ at smart police stations in H1
Dubai, UAE-- During the first half of 2023 the Dubai Police has recorded some 65,942 smart transactions at its 22...
Geostrategy
High oil prices, reforms spur Saudi economic boom
The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates,...
Economy
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Business
FAO says world cereal production to reach record high in 2023-24
ROME, ITALY - World cereal production is predicted to hit a record high in 2023-24, according to the latest Cereal...
- FAO raised its 2023 global cereal production forecast to 2 819 million tonnes, indicating a 1.1 percent increase from the previous year.
- The higher forecast almost entirely reflects better prospects for global wheat production, now pegged at 783.3 million tonnes.
Economy
‘Greenhouse gas emissions from agriculture likely to rise by 7.5% in next decade’
PARIS, FRANCE - Greenhouse gas emissions from agriculture are expected to increase by 7.5 percent in the next decade, said...
- Projected greenhouse gas emissions are less than half the projected output growth.
- This output indicates a significant fall in the carbon intensity of agricultural production.
Economy
At G20 meeting, UAE urges world to collaborate in scientific research
Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community...
- Al Amiri made the remark during her address to ministers at the G20 Research and Innovation Initiative Gathering (RIIG) in Mumbai
- She said that the UAE will invest some $160 billion in the next 30 years to further develop and deploy green innovations