UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...Economy
The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...Economy
Saudi Arabia and Bahrain to collaborate on speeding up sustainable development
New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning...The discussion took place in New York on the sidelines of the United Nations High Level Political Forum on Sustainable Development 2023
The ministers spoke at length about the he innovative practices adopted by the two countries for achieving sustainable development and deepening their expertise
Qatar: Commercial Bank profit rises by 8.5%, Masraf Al Rayan’s dips by 24%
Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching...The figures issued by the bank website showed an increase in the EPS of Commercial Bank of QR 0.37 ($0.10) in the first half of 2023
The financial statement of Masraf Al Rayan revealed a decline in net profits by 24 percent, to $207.12 million in H1 2023
Egypt building collapse kills eight residents in capital
According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo...Many buildings in central Cairo dating back to the 19th and early 20th centuries are in dilipidated condition
There have been many building collapses in recent years in Egypt due to non-compliance with regulations
UAE ranks first in Arab region and 29th globally in UN Industrial Performance Index
Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen...This index gauges and compares the strength of industrial competitiveness within countries
The UAE has remained in the CIP’s top quintile, reflecting its position as a regional and global player in the industrial sector
Saudi Arabia: An emerging tourism hub
The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.OQGN is the exclusive operator of the natural gas transportation network in Oman.
This is considered one of the largest syndicates of Sharia-compliant financing in Oman.
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.
Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.
Dubai posts 44 percent growth in business event bid wins in H1 2023
DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in...Dubai Business Events worked with partners and stakeholders to win 143 conferences, congresses, meetings and incentives in H1 2023.
These events are expected to bring over 94,000 additional visitors to the city, including global experts and leaders in their respective fields.
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization.
The audit process conducted by CanaGulf International Standardization was based on several guiding principles.
