Dubai 21st most richest city in the world, top in the Middle East
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...Economy
GCC countries mobilize to build resilient industrial supply chains: report
GCC countries are prioritizing actions like near-shoring, international partnerships, and technology adoption to ensure supply chain adaptability and responsiveness, says...Economy
Iraqi president presses for closer trade and energy ties with Iran
Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of...Iraq's president highlighted the importance of forging closer ties with Iran in a meeting with an Iranian delegation visiting Baghdad
He applauded Iran for the restoration of ties with countries in the Middle East and the resumption of diplomatic relations with Saudi Arabia
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of...According to its petroleum minister, Egypt will develop fields in the Mediterranean Sea, Nile Delta, and Western Desert to boost its production capacity
The offshore exploration involves companies such as Eni, Chevron, ExxonMobil, Shell and BP, aiming to drill 35 exploratory gas wells until July 2025
Central Bank of Bahrain Sukuk Al-Ijara oversubscribed
Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that the monthly issue of the short-term Islamic leasing...The Sukuk Al-Ijara has a maturity period of 182 days, starting on July 6, 2023 and maturing on January 4, 2024
Earlier in June, the CBB said that the issue of the 4-year Government Development Bond was oversubscribed by 415 percent
Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...The world's largest and most efficient plant built at a cost of $1.08 billion features advanced technologies with no adverse environmental impact
Sheikh Hamdan said Dubai's has speeded up its transition to a green economy and transform itself into one of the world's most sustainable cities
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Saudi Catering, RSG ink pacts
The contracts are valid for 20 years, said Saudi Catering.The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis
Bahrain’s EWA invites bids for US$53mn tender to upgrade desalination plant
Manama, Bahrain--The Electricity and Water Authority (EWA) of Bahrain has invited bids for a $53.19 million tender to upgrade the...The Electricity and Water Authority said that international companies will need to submit their bids as per the latest international standards
The upgrade of the Ras Abu Jarjour plant by reverse osmosis from underground wells is expected to extend the life span of the plant by 20 years
Saudi Arabia’s Al-Ettifaq hires former Liverpool star Steven Gerrard as coach
Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after...Gerrard who was sacked by Aston Villa in October had initially rejected an offer to move to the kingdom, but eventually was lured by the riches on offer
The Saudi Pro League supported by the kingdom's sovereign wealth fund has lured big names from the major European leagues with the promise of huge salaries
