Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
Economy
20-day-old baby Jumaa al-Batran dies from ‘severe cold’ in Gaza
Marwan al-Hamas, head of field hospitals in Gaza, confirmed the death. He said it brought to five the total number...
Geostrategy
Business
ADNOC and SEFE sign agreement
ADNOC will supply 1 million mtpa of LNG to SEFE Singapore.
- The LNG will primarily be sourced from ADNOC’s lower-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi.
- This is the second long-term LNG supply agreement from the Ruwais LNG project, following the 15-year agreement with China’s ENN Natural Gas in Dec 2023.
Business
50% of firms attracted to Dubai by DIC in 2023 Asian and Australian
Dubai, UAE -- Nearly 50 percent of the Multinational Corporations (MNCs) that opened businesses in Dubai during 2023 are based...
- Latin America and Europe, and the Middle East and Eurasia, accounted for 23.5 percent each of the total number of MNCs attracted during 2023.
- Companies from Africa represented 3 percent of the total number of corporations attracted by the chamber.
Geostrategy
UN envoy urges Syria to rejoin Geneva constitution talks
Damascus, Syria -- Visiting United Nations special envoy for Syria Geir Pedersen urged Damascus Sunday to rejoin talks to revise the...
- Syria's war, which began 13 years ago with the repression of pro-democracy protests, has killed more than 500,000 people.
- Geir Pedersen has been trying to make progress with a so-called constitutional committee for Syria to rewrite or amend the war-torn country's constitution since October 2019.
Business
ROSHN and Saudi cybersecurity organization partner on tech advancement
Riyadh, Saudi Arabia -- ROSHN Group, the PIF-owned giga-project and real estate developer, has signed a memorandum of understanding (MoU)...
- Both parties will develop joint initiatives aimed at enhancing the abilities of the Saudi IT and cybersecurity sectors.
- ROSHN will look to explore the use of drone technologies in its operations, and also participate in SAFSCP’s Bug Rewards Platform (Bug Bounty)
Business
SAIC net profit $39 million
The company's Board announces a dividend of $11.79 million.
- The company's fourth-quarter net profit increased 89.6 percent year-on-year (YoY) to SAR 38 million, from SAR 19.85 million in 2022.
- In a Tadawul filing, the company attributed the rise in net profit to sale of shares in associated companies and the sale of financial assets at fair value through profit or loss.
Geostrategy
European Union and Egypt to sign $8 billion funding package
Cairo, Egypt -- The European Union, which is seeking to stem the inflow of irregular migrants, announced Sunday a 7.4 billion...
- It will include billions in loans over coming years and aims to step up Egyptian energy imports to help Europe "move further away from Russian gas" amid the Ukraine war.
- Egypt already hosts around 9 million migrants and refugees, including 4 million Sudanese and 1.5 million Syrians, according to the UN's International Organization for Migration.
Economy
US Fed to provide fresh clues on rate cuts after uptick in inflation
The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50% as it looks to return...
- After two days of discussions, the Fed will publish an updated summary of economic projections (SEP) alongside its rate decision on Wednesday,
- Officials at the US central bank -- led by Fed chair Jerome Powell -- have urged caution about cutting interest rates too quickly, and said they will follow a "data-dependent" path
Arts & Culture
UAE backs women in climate action, gender equality
“Today’s frameworks to advance gender equality and women’s empowerment ring hollow in the face of the war on Gaza, which...
- UAE Minister of State Noura Al Kaabi emphasizes the importance of enhancing national systems to promote gender equality.
- The UAE ranks among the top 10 countries for gender equality, showcasing significant progress on the Gender Inequality Index.
Business
UAE launches digital public consultation on tax implementation
Abu Dhabi, UAE -- UAE's Ministry of Finance (MoF) Friday launched digital public consultation to gather feedback from relevant stakeholders...
- The consultation will be open from 15th March 2024 to 10th April 2024, and accessible via the Ministry’s website or the UAE’s Government Portal.
- To familiarize stakeholders with the rules and to ensure informed feedback is received, the Ministry has issued a Global Minimum Tax briefing document alongside the consultation.
Geostrategy
First aid boat unloads in Gaza as Hamas proposes new truce
During the proposed truce, Gaza militants would release about 42 hostages seized during the October 7 attack that triggered the...
- Spanish vessel Open Arms meanwhile was seen towing a barge loaded with 200 tons of food for Gazans threatened with famine after more than five months of war.
- The United Nations has repeatedly warned of looming famine, with only a fraction of the supplies needed to sustain Gaza's 2.4 million people being let in.
Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
Economy
Company News
Latest News
Masdar acquires Saeta Yield
Business
Global economy faces ‘low normal’ growth, widening inequality gap
The organization’s Trade and Development Report 2024 warned that this new “low normal" growth is insufficient to tackle pressing development and...
Economy
Rethink needed to make sustainable tourism work
"Growth at all costs no longer an option," says world-renowned tourism policy, planning and development expert Dr Marina Novelli in...
Geostrategy
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
Business
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Arts & Culture
Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
- The Saudi Football Federation has reached a mutual agreement to terminate the contract of Mancini, 59, who signed a lucrative deal until 2027 in August last year.
- Building a strong national team is a priority for the oil-rich Saudis who splashed more than a billion dollars on players last year and are the sole bidders for the 2034 World Cup.
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
- US Secretary of State Antony Blinken said that mediators would explore new options after the failure of previous efforts to seal a ceasefire and hostage release deal.
- The US and Qatar were seeking a plan "so that Israel can withdraw, so that Hamas cannot reconstitute, and so that the Palestinian people can rebuild their lives.
Interview
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
- In the UAE, impressive progress has been made in defining key skills and raising national awareness on human capital development.
- Leopold highlights AI-driven energy demand as a key sector for transformation, with significant job creation in sustainable energy.