Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...Economy Tourism
UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...Business Banking & Finance Economy
Libya expels over 200 migrants across land borders
The United Nations had previously handled the repatriation of refugees from Libya, but the deal between authorities in the west,...The group of returnees included "105 Egyptians, 101 Chadians and 20 Sudanese."
The operation was organized by the Interior Ministry of Prime Minister Abdulhamid Dbeibah's Tripoli-based government
‘Dubai seeks to be among top digital economies’
Sheikh Hamdan bin Mohammed, who is also Dubai’s Higher Committee of Future Technology Development and Digital Economy Chairman, said this...Sheikh Hamdan has approved the new phase of the Dubai Metaverse Strategy, which aims to enhance the digital economy
The new phase of the strategy aims to implement measures to empower the use of the metaverse and future technologies
EIC calls UAE as the leader in renewable energy sector
London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on...An EIC report titled “UAE: EIC Country Report – November 2022”, highlights the UAE’s Hydrogen developments in the sector.
“The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report said
Turkey reduces main policy rate for fourth successive month
With the latest cut, the rate has reached "a sufficient level with regard to growing risks concerning global demand", the...On the wishes of President Recep Tayyip Erdogan, the Turkish bank said it had lowered its benchmark rate from 10.5 percent to nine percent.
Erdogan had vowed to lower interest rates to single digits by the end of 2022 as he prioritizes economic growth and jobs over price stability.
Nestle pours $1.8 bn in S Arabia
Firm said this will help bolster its presence in kingdom.Nestle's announcement is likely to be a major boost to Saudi Arabia as the kingdom pushes to attract greater foreign investment.
Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee.
Jordan Minister calls for MENA-Europe electric connection project
AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to...Jordan's Minister said electric connection with Europe achieves integration by supplying the continent with relatively low-cost energy.
He said that Jordan seeks to turn its electric power grid into a smart one.
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.
ADDED digitally links freezones in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones...The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE.
They will enhance the country status in following highest level of international standards of transparency and governance.
Gas price cap divides EU energy ministers’ meeting
BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Saudi fund deposits $237m into accounts of housing beneficiaries
Riyadh, Saudi Arabia---Saudi Arabia has deposited 891 million riyals in subsidy to the beneficiaries of a housing program, Iskan, aimed...The subsidy for the month of November was deposited into the accounts of the Sakani beneficiaries by the Real Estate Development Fund.
Since the launch of the program in June 2017, a total of 42.6 billion riyals has been provided to its beneficiaries.
