‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
Geostrategy
‘Complete stop’: New Turkish wall confronts fleeing Afghans
A concrete wall, topped with barbed wire and surrounded by trenches, is being erected along Turkey's border with Iran
- A concrete wall, topped with barbed wire and surrounded by trenches, is being erected along Turkey's border with Iran
- Official data shows 120,000 Afghan refugees in Turkey, and up to 300,000 undocumented Afghan migrants
Business
Bahrain-origin exports up by 62 percent in July
Saudi Arabia ranked first for Bahrain-origin exports and re-exports. Portable digital automatic data processing machines were the top product re-exported...
- Unwrought aluminum and agglomerated iron ore and concentrates top two exports.
- Brazil, China and UAE top three importers for Bahrain.
Economy
UAE to combat money laundering, terror financing
This is in line with the country's commitment to achieve full compliance to the International Financial Action Task Force (FATF)
- This is in line with the country's commitment to achieve full compliance to the International Financial Action Task Force (FATF)
- The country’s ministry of economy highlighted that the private sector is a strategic partner in its efforts to implement the country’s international obligations
Economy
Iran, Turkey anticipate refugee crisis as Taliban takes over Kabul
Both already host large refugee populations — 3.6 million Syrians in Turkey and 3.5 million Afghans in Iran
- Both already host large refugee populations — 3.6 million Syrians in Turkey and 3.5 million Afghans in Iran
- Both countries are battling the coronavirus pandemic and facing economic difficulties.
Economy
Bahrain’s deficit dips 35 percent to $1.38bn in H1
Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared...
- "Strategic planning, along with the persistent dedication of Team Bahrain, has yielded tangible outcomes in the Kingdom's path to development”
- According to the report, recurrent expenditure decreased by 2 percent year-on-year
Business
PIF ups Activision Blizzard holding in second quarter
The sovereign wealth fund is at the center of the kingdom's plans to transform the economy by creating new sectors...
- During Q4 2020, PIF acquired 14.9 million shares of US video-game maker Activision.
- Its other purchases last year included 7.4 million Electronic Arts shares and 3.9 million Take-Two shares worth about $1.1 billion and $826 million.
Economy
Bahrain eServices revenue up 257% to $532m in H1
The number of financial transactions in H1 2021 exceeded 1.6 million, double the number in the same period last year.
- More than 1.1 million financial transactions were carried out on the national portal alone
- This an increase of 76 percent compared to the same period of last year
Economy
Firefighters battle second day of blazes near Jerusalem
Police and local officials "began evacuating hundreds of families" from communities on the western outskirts of Jerusalem
- Police and local officials "began evacuating hundreds of families" from communities on the western outskirts of Jerusalem
- Fires have flared this summer around the Mediterranean basin, including in Greece, Turkey, Algeria and Morocco
Geostrategy
UAE, Iraq moot bilateral business council
Iraq and the UAE already conduct trade that was worth around $15 billion in 2019.
- Abu Dhabi Chamber Chairman Abdullah Mohammed Al Mazrouei and Iraqi Ambassador discussed the setting up of this council
- Abu Dhabi Chamber Director-General Mohamed Helal Al Mheiri also attended the meeting
Economy
Crisis-hit Lebanon reels from latest deadly explosion
At least 28 people were killed when the fuel tank blew up
- At least 28 people were killed when the fuel tank blew up
- The Lebanon grapples with an economic crisis described by the World Bank as one of the world's worst since the 1850s
‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
Company News
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Aramco, TotalEnergies to construct petrochemical unit in Saudi Arabia
Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two...
Business
Kuwait’s central bank says broad money supply rises marginally
KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May...
Economy
KSA outsources work worth US$693m for achieving Saudi Vision 2030
RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of...
Economy
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Economy
Dubai Police and DIB sign agreement to support Bayti initiative with US$5.44mn
Dubai, UAE--The Dubai Police and Dubai Islamic Bank (DIB) have signed an agreement to back the social initiative, "Bayti", with...
- The charitable initiative was launched by Dubai Police and many others to support familes with low income in the construction of homes and furnishing
- DIB's Chief Operating Officer, Obaid Khalifa Al Shamsi, applauded the partnership between the two in executing social projects supporting citizens
Economy
Insurance becomes mandatory for foreign vehicles entering UAE
Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign...
- In order to make it easier for vehicle owners to posses insurance cover, the authorities will provide them with online access to the platform to buy insurance
- The vehicle owners can access the service on the ICP's website or by downloading the "Shory Aber" application available for iOS and Android devices
Business
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.