Digitization helps UAE make supply chain sustainable
"The UAE launched the 'Trade Tech Initiative' in partnership with the World Economic Forum. The initiative aims to accelerate the...Economy
Saudi Arabia issues record 478 licenses in first quarter
Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies,...In none of the quarters since 2005 has such a number of licenses been issued, according to Saudi investment ministry.
Manufacturing sector accounted for the bulk (114) of new licenses issued followed by e-commerce and construction (78 each).
MENA connectedness ranking rising: Survey
The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.Ranks third among the world’s seven regions and is well above the global average.
UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
ADNOC Distribution H1 net profit $313m
Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half...The company’s fuel volumes saw progressive recovery towards pre-COVID-19 levels.
In H1 2021, the company received no objection certificates from the Saudi General Authority for Competition to acquire 35 stations in the kingdom.
Dubai exports, re-exports to West Africa rise by 42% during H1
Nigeria was the largest West African export market for member companies, accounting for a 32 percent share of the value...Plastics accounted for 31 percent of exports, followed by electrical machinery/electronics (14 percent)
Commodities with the highest untapped potential for export and re-export include polyethylene, sugar cane and rice, trigger batteries.
Saudi industrial production rises to 11.9 percent
Saudi Arabia has reported a sharp rise in its Industrial Production Index (IPI) to 11.9 percent in June 2021 from...The increase resulted Increase mainly from mining and quarrying, which gained 19.3 percent
Oil production rose from 7.4 million bpd in June 2020 to 8.9 million bpd in June 2021
Egypt’s headline inflation rises to 5.4 percent
Egypt's annual urban consumer inflation increased to 5.4% in July from 4.9% in June, official statistics agency CAPMAS said on...Month-on-month inflation also went up to 0.9 percent from 0.2 percent
CAPMAS attributed the hike to the increase in prices of oils and fats, meats, vegetables, housing, water, electricity, gas and fuel
ADNOC and Fertiglobe to sell blue ammonia to Idemitsu
The sale is part of UAE-Japan industrial cooperation and development of ammonia supply chains.ADNOC sold its first cargo of blue ammonia to Japan's Itochu on Aug. 3.
Sales part of UAE-Japan industrial cooperation and development of ammonia supply chains.
Investors may prefer this new Abu Dhabi license
New license for professionals to be issued by ADDED allows 100 foreign ownership of a business. ADDED also highlighted that...ADDED will also issue a form of service agent agreement to streamline the relationship between partners.
604 activities covered under the license, including accounting, training, consultancy, beauty centers.
Saudi budget deficit narrows sharply
Better days for Saudi economy seem to be on the horizon as the kingdom’s budget deficit has narrowed sharply in...Saudi budget deficit fell by 38 percent from Q1
Spending rose to SR252 billion from SR212 billion
US announces extra $165 mln in Yemen aid
Yemen's conflict flared in 2014 when Iran-backed Huthi rebels seized the capital SanaaYemen's conflict flared in 2014 when Iran-backed Huthi rebels seized the capital Sanaa
The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
