Houthi attacks idle Suez Canal, deepen Egypt’s economic woes
The man-made waterway - which officially opened in 1869 - is crucial for Egypt, earning it $9.4 billion in transit...Business Economy
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...Business Economy
Saudi Arabia’s non-oil exports rise by 27 percent in Jan 2022
Saudi Arabia’s non-oil exports increased by 27.5 percent year-on-year in January 2022, rising to SAR 24.1 billion ($6.42 billion) from...The most important non-oil goods were 'Plastics and Rubber and Articles Thereof' (32.7 percent of non-oil merchandise exports).
The kingdom’s overall merchandise exports increased by 49.6 percent in January 2022 compared to January 2021.
DEWA prices shares AED2.25-2.48 in Dubai’s biggest IPO since 2017
The IPO size implies a market capitalization at listing of between $30.63 billion and $33.76 billion, which would make DEWA,...The IPO subscription started on Thursday and will run until April 2 for the UAE retail investors and until April 5 for the institutional investors.
DEWA is the majority owner of Empower, the world's largest district cooling services operator by connected capacity.
Jordan, India discuss cooperation in fertilizer industry
The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited...The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited Indian experts to his country
Indian minister reaffirmed the Indian government's keenness to prioritize Jordan in importing phosphates and fertilizers
Ukraine war sends Middle East food prices soaring: Guterres
The world must not forget the millions of people in need across the Middle East and North Africa, UN chief...The UN chief issued the warning during a meeting on the expanding cooperation between UN and the 22-member League of Arab States
At the meeting, ambassadors of the Arab countries adopted a presidential statement praising the increasingly critical partnership
Oil sees further gains on sanctions talk, while equities slip
The recent rally across equities over the past week appears to have run its course for now as investors nervously...The recent rally across equities over the past week appears to have run its course for now as investors nervously track developments in the Ukraine war
All eyes are on meetings this week of NATO, where Joe Biden and other leaders are expected to discuss further punishing Moscow for the month-long invasion
UAE Fatwa Council sets value of Zakat for Ramadan at AED25
The council has also set minimum values of iftar meals and atonement for not fasting during the previous Ramadan.Within this fatwa, the council set the value of iftar meal at a minimum of AED15
This amount can be paid to the registered charities which provide iftar meals
Morocco announces over $200m in fuel aid for truckers
The package, reached after weeks of pressure including a nationwide strike by truckers demanding price controls, covers 180,000 vehiclesThe package, reached after weeks of pressure including a nationwide strike by truckers demanding price controls, covers 180,000 vehicles
The aid will be available to transporters from early April, via an online portal, the government said
Friendly policies woo major crypto firms to Dubai
The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.Dubai's VA Exchange License allows FTX to be the first to provide regulated trading and clearing services for crypto-specific derivatives.
The UAE is the third-largest crypto market in the region, trailing Turkey and Lebanon.
DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the...This will reportedly help to provide value-added services and facilitate doing business
It would contribute to enhancing the competitiveness and sustainability of Dubai's business sectors
Dubai ruler issues law on Local Military Pensions and Social Security Fund
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security...The fund seeks to improve the quality of services offered to its beneficiaries and ensure that all the rights and insurance needs of contributors, pensioners are met.
All liabilities and assets of the Local Military Pensions and Social Security Division at the DoF will be transferred to the Fund, once the Law comes into effect.
