ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...Economy Energy Climate Change
‘Private sector plays key role in climate resilience’
Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick...Economy Climate Change
Saudi anti-concealment law violators get grace period
The period has been extended from August 23, 2021, to February 16, 2022, with violators looking at fines of around...The Saudi Ministry of Commerce has already given a six-month grace period once to violators of the anti-concealment law
Several enterprises, whose annual revenues exceeded SR6 billion ($1.6 billion), benefited from this
Bitcoin jumps above $50,000
The unit climbed around two percent to $50,249.15, its highest since mid-May.The cryptocurrency has now risen more than 70 percent from the six-month lows below $29,000 touched in June
Bitcoin was tumbling on a range of issues including China's crackdown on cryptocurrencies since mid-May
ADNOC emerging as UAE’s FDI magnet
Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East...ADNOC has set its eyes on developing green hydrogen and blue ammonia products.
The company plans to spend $122 billion between 2021 and 2025 to develop its businesses.
Ajman Chamber, China’s Dahua explore tech investment opportunities
The two discussed opportunities for cooperation to support multinational companies in the Emirate of AjmanThe two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
Dahua is a leading Chinese tech solutions provider specialising in video surveillance products, data security, alarms, motion sensors and access control
Currency war in Yemen opens up a gulf in riyal values
Alongside a grinding seven-year military conflict, Yemen's government and the Huthi rebels are locked in battle on another front --...Both the government and the Iran-backed Huthis used the same notes until late 2019 when the rebels banned new banknotes printed in government-run Aden
The resulting difference in money supply has since seen the riyal's value plummet to around 1,000 to the dollar in government areas
Prices at pump soar in Lebanon after new subsidy cut
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two monthsThe cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
Dire shortages have seen Lebanon's people struggle to find enough fuel to drive to work
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
By 2030, the country expects to enhance its airport capacity by 30 percent
Arabs seek freelance jobs as economy recovers
Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first...Number of people who obtained a freelance employment document reaches 631, 518
The ministry also said most freelancers are aged between 20 and 30 years old, with most of them working in graphic design, marketing and advertising, and family businesses
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
504-km-long chairlifts, waterfalls, hotel among other projects.
New GCC wealth drives private banking
Private banks cater to the complex banking needs of the Ultra High Net Worth Individuals and High Net Worth Individuals...Saudi UHNWI population has grown by 227 percent since 2016, the fastest growth rate globally over this period.
Private banking yields returns up to 30 percent annually, but more typically are in the 7-13 percent.
