DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter of 2022. This is part of its efforts to deliver state-of-the-art infrastructure according to the highest international standards. These stations are mainly located at Wadi Al Safa Fifth, Al Merkad,...

Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global investment downturn, according to a new report published by the UN Conference on Trade and Development.

Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance have obtained a license to explore the mining site of Umm al-Damar.

Jakarta, Indonesia--- Indonesia would need 17 million technologically literate workers, or workers who are able to use and manage technology, State-Owned Enterprises (SOEs) Minister Erick Thohir said here on Sunday. "The country needs the younger generation to develop a knowledge-based economy so that many innovations that Indonesia needs to compete...

The World Bank estimates that by 2050, if nothing is done to prevent it, there will be 216 million people internally displaced by climate change, including 19.3 million in North Africa.

Riyadh, Saudi Arabia—The stage is set for the Arab Broadcasting Festival to begin next month in Riyadh as preparations have nearly been completed for the event. President of the Arab States Broadcasting Union (ASBU) and CEO of Saudi Broadcasting Authority, Mohammad bin Fahd Al-Harithi, announced the completion of the ongoing...

At least nine people were killed and many wounded when a gas tanker blew up in Baghdad on Saturday night in what is being termed as an accident. The explosion was so powerful that it could be heard across much of Iraq's capital. The tanker was in a car park...

The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to be hosted in Doha. Qatar summoned Germany's ambassador to protest against comments made by Interior Minister Nancy Faeser casting doubt on whether the Gulf state should host the football World...

Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships in Crimea. Russia made the announcement after its army accused Kyiv earlier Saturday of a "massive" drone attack on its Black Sea fleet, while Britain rejected Moscow's claims its specialists...

Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.

The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders said in an interview. The figure has risen from the roughly $13.7 billion from oligarchs and other entities that Reynders in July announced the EU had frozen, mainly in five...

AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in MENA on Sunday, organized by the Arab Renewable Energy Commission(AREC), with Arab and international participation. In a statement Saturday, AREC's Secretary-General, Mohammed Taani, said the forum will discuss over three...

Calling on "all parties" to make every effort to extend the agreement on Ukrainian grain exports, UN Secretary-General Antonio Guterres has appealed for an extension to the so-called Black Sea deal, signed in July by the UN, Ukraine, Russia and Turkey, allowing more than 9 million tons of Ukrainian grain...

Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from 1st January, 2023. The amendments were made are in line with international best practice in light of the GCC...

DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities and Exchange Commission (BSEC) to enable exchange of information between the two authorities. The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC...

As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is taking place in areas such as the new energy, artificial intelligence, and industrial diversification.

Hike in profit was due to high oil, natural gas prices.

Firm's Q3, 2022 profit fell compared to Q3 in 2021.

Revenue doubled year-on-year to US$17.1 billion.

HDC provides special education and care services in S Arabia.

Under its recently announced Experts Program, the Saudi Ministry of Culture has provided an intensive leadership training course for Man and The Biosphere (MAB), a UNESCO program.

Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon Market auction.

Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its spending to boost the development of competitive and innovative sectors and industries in Saudi Arabia. The Local Content Growth Program, which was announced at the Sixth Edition of Future Investment...

The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.

Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim at an event in Riyadh.

Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of sky-high inflation and the US economy posted positive figures. The European Central Bank rolled out another increase of 75 basis points, despite growing concern the eurozone is hurtling towards a...

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in Abu Dhabi Thursday to explore opportunities to further enhance bilateral ties in light of the Comprehensive Strategic Partnership that exists between the two countries.

The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President Joe Biden days ahead of midterm elections, government data showed. Economic issues have become a flashpoint in the United States, with decades-high inflation weighing on growth and squeezing households.

Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month arrangement under the Extended Fund Facility, IMF Mission Chief for Egypt Ivanna Vladkova Hollar said.

The IMF had demanded the devaluation as a condition of the loan and the North African nation is among the top five countries in the world most at risk of defaulting on its foreign debt, according to the international credit rating agency Moody's.

Retail sales declined in its main markets Europe and the US.

Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of scandals that have shaken the institution, saying the results were intended to create "a simpler, more focused and more stable bank".

It, however, reported a 3.79% increase in sales.

Owing to surging energy prices fueled largely by the Russian invasion of Ukraine, the IEA feels global emissions will peak in 2025 as investment in renewables has grown in the recent months. Last year, the IEA had said there was "no clear peak in sight" in energy emissions.

The UAE president Sheikh Mohamed bin Zayed Al Nahyan, and Abdel Fattah El Sisi, President of Egypt have met recently on several occasions.

The Kazakhstan ambassador valued the UAE leadership's interest in strengthening relations between the two countries, pointing out that the 1st of October marks the 30th anniversary of establishing diplomatic relations between the UAE and Kazakhstan.

The five companies, together with Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary that was launched in August 2022, will invest up to $24 billion in opportunities across various key sectors in each market.

Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in a better status than many other countries, says Al-Jadaan at an FII event.

According to an analysis based on data released by Beijing's Ministry of Finance on Tuesday, the budget shortfall for all levels of government from January to September was $980 billion, almost three times the 2.6 trillion shortfall over the same period last year.

Israel, with its turbulent politics, heads back to the polls next Tuesday, for the fifth general election in less than four years. Historically, Israeli voting patterns have been shaped by religious and ethnic affiliation and, most importantly, views on the Palestinian conflict. But this time, ahead of the November 1...

Worsening the financial situation for Alphabet is the fact that Google tends not to aggressively promote advertising on its platform with tactics such as trying to convince businesses that online marketing is a smart move during tough economic times, said independent tech analyst Rob Enderle of Enderle Group.

Qatar is currently more like a workshop of preparation and equipping, in which Qataris and residents have engaged. Brotherly and friendly countries have put their capabilities at our disposal. These are originally part of the goals of such events that encourage cooperation, fraternity and exchange of experiences, he adds.

The firm's total VLCC fleet value is now $245 million.

ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion (AED367.9 billion) in 2020 to $126.3 billion (AED463.9 billion) in 2021, says the Ministry of Finance (MoF) data released Tuesday. The MoF released the preliminary government finance statistics data for...

US automaker was bolstered by strong vehicle pricing.

Saudi Arabia is engaged with many European governments with regards to the current energy crisis, says Prince Abdulaziz bin Salmanat at FII Forum in Riyadh

The bank income in Q3 fell by 10 percent to $8.2billion.

ALC is one of the largest meat producers in Australia.

SEOUL, SOUTH KOREA - The sixth round of revived negotiations between the Riyadh-based Gulf Cooperation Council (GCC) and the Republic of Korea to reach a free trade agreement was launched in the South Korean capital of Seoul Tuesday and lasts until October 28. The two sides expressed readiness to advance...

Airbus will make a one-off payment of 1,500 euros for all employees in its four founding nations, UK, France, Germany, Spain as inflation makes life difficult. The company employs 126,000 people worldwide, including 46,000 in France and 43,000 in Germany. The employees outside of the four countries will receive a...