UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and technology. In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include developing data centre projects with a total capacity of up...
Qatar’s excellence in organizing the World Cup refutes all allegations, says IPU head Duarte Pacheco
“Qatar has done everything in the best way, I don't understand some critics, because we didn't find these kind of criticism when we have other games. Do you believe that human rights and the workers rights were better defended there. I don't believe. So, try not be hypocritical,” he adds.
Three officials sacked after second fire at Baghdad airport in three days
The latest fire came after three people were lightly hurt on Tuesday when a blaze broke out in a refreshments area in the departures lounge of one of the terminals.
UAE to launch feature-rich, faster EmaraTax platform on Dec.5
Abu Dhabi, UAE --UAE's Federal Tax Authority said Sunday it will launch EmaraTax platform on Dec.5, 2022. The migration to EmaraTax will commence from the end of day on Wednesday, 30 Nov. and EmaraTax will be available for use from 5 Dec. To minimize disruption to taxpayers the FTA has...
Infra investment key to climate change adaptation
“We need to build a coherent framework of trade and investment policies supported by roadmaps that can accelerate the energy transition and boost re-investments,” Dr Ngozi Okonjo-Iweala stresses at a high-level forum held on the sidelines of the COP27 in Sharm-El-Sheikh, Egypt.
UAE, Indonesia to cooperate in energy sector
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and exchange knowledge and data in the energy sector.
Moqtada Sadr’s group refuses to join new government in Iraq
Iraqi firebrand cleric Moqtada Sadr's movement announced its refusal to join a new government being formed by prime minister-designate Mohammad Shia al-Sudani.
EU leaders try for common response to energy crisis
EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia's war on Ukraine. President Volodymyr Zelensky was dialling in from Kyiv as the bloc looks to maintain its economic and military support for Ukraine and hold...
UAE and China relations a model to follow: Suhail Al Mazrouei
The Energy Minister said the UAE encourages joint investments with China in every sector, most notably in digital economy, green economy and circular economy.
Qatar hopes to make US$17bn in profit from World Cup
The 2022 World Cup may prove to be a big windfall for Qatar as it hopes to make some $17 billion in profit from the event. The global sporing event is expected to draw tens of thousand of football fans from around the world to watch dozens of games in...
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization for Standardization (ISO) Annual Meeting 2022 in Abu Dhabi aligns with the government's desire to benefit from global expertise.
Sports sector contributes US$2.45bn to Dubai economy
The sports sector has contributed some $2.45 billion to the Dubai economy in 2021, representing 2.3 percent of the emirate's annual gross domestic product. According to the Dubai Sports Council 105,000 jobs will be created in the sector, which will account for 3.8 percent of total employment in Dubai.
UAE participates in G20 Finance Track’s Infrastructure meeting
UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022 on September 15 and 16.
UN urges EU against fossil fuels in energy crisis
The UN urged EU countries on Monday to continue battling climate change and not resort to more fossil fuels in their response to soaring energy prices and fears of winter shortages. Russia has reduced supplies of gas to Europe since its invasion of Ukraine, sending prices for the fuel soaring.
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters related to the environment, society and governance.UAE takes part in G20 Health Working Group in Indonesia
UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia to discuss strengthening global health infrastructure through expanding manufacturing and research hubs for pandemic prevention, preparedness and response.
Recent floodings in UAE call for sustainable infra
It is a wake-up call that warns of a bigger disaster in cities like Dubai and Abu Dhabi if quick steps aren't taken to deal with heavy rainfalls, Dake Rechsand CEO tells TRENDS.
What’s next for e-commerce in post-pandemic world?
Post pandemic, the logistics sector is best placed to support e-commerce businesses in tapping the unlocked potential of the large and still untapped market. The Middle East, which is continuing to experience rapid growth in e-commerce, may get an additional push from the logistics sector, she adds.
Saudi Arabia advances in education competitiveness index
The Kingdom of Saudi Arabia has progressed in the education, research, and innovation indicators per the World Competitiveness Yearbook 2022 report, issued by the Global Competitiveness Center of the International Institute for Management Development (IMD).
Dubai’s high-end luxury real estate market prospers
The emirate’s upper market real estate sector is not something just anyone can develop. It requires large investments and a full-fledged team who can deliver a quality 360 solution to buyers. It is a profitable sector with growing opportunities for those able to enter the industry, Comerford highlights.
Policies, infra make Dubai hub for talent, innovation
For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking technologies, says the latest BCG report.
DEWA’s Marafeq Smart Feature speeds up issuing of NOCs
Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for infrastructure and information services.
Crises put Gulf investments in Sri Lanka at stake
The region has invested billions of dollars across sectors in the South Asian nation as recent past witnessed an expansion in economic and trade relations between the two sides.
PPP projects inject more vigor into Saudi healthcare
The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare Consulting - MENA at JLL, tells TRENDS.
Saudi Arabia and Italy to explore investment opportunities
Saudi Arabia’s Ministry of Investment will host a high-level Italian business delegation on Monday to explore mutually beneficial investment opportunities. The Italian delegation would be led by Italian Minister for Foreign Affairs and International Cooperation Luigi Di Maio. The forum will focus on finance, infrastructure and mobility, tourism and culture,...
Saudi Arabia and Italy to deepen investment ties
Saudi Arabia and Italy will jointly explore investment opportunities in sectors as wide as finance, infrastructure and mobility, tourism and culture, and renewable energy.
UAEU initiates research program to support scientific activities
The funding for each project ranges from AED 250,000 for literary, social, and humanities proposals to AED 400,000 for other lab-based research proposals.
Qatar government, banks behind its strong economic show: CEOs
The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and achieving economic recovery, CEOs of multiple Qatari banks said. They were speaking during their participation in the Euromoney’s Qatar Conference 2022, which began Sunday, according to Qatari media reports. The...
Emirate attracts expats and HNWIs alike
World-class infrastructure, successful pandemic response and visa and labor reforms have made the city an ideal destination for expats. Also, the UAE’s stable economy persuades foreigners to make Dubai their second home.
Infantino says Qatar migrant workers take pride from hard work
FIFA President Gianni Infantino said migrant workers take pride from hard work when he was asked about the conditions of workers building World Cup stadiums and infrastructure in Qatar. Infantino said workers would feel proud about building stadiums for this year's tournament in the Gulf nation.
UAE and Egypt to boost investment and cooperation
UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber reviewed bilateral relations with Mostafa Madbouly, Prime Minister of Egypt.
UAE launches database to monitor energy, water consumption
Announced in July 2021, the national program aims to boost efficiency by 40 percent across the three most energy-consuming sectors in the UAE
Iraq exports oil worth $11bn in March, a fifty-year record
Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia's invasion of Ukraine, the oil ministry said.
Mawani, LogiPoint launch new logistics development at Jeddah Port
This will enhance the port's infrastructure and operating capabilities, expand capacity, and enable logistical efficiency.
Mubadala of UAE to invest $395m in UK’s CityFibre
Mubadala of the UAE will invest $395 million into CityFibre, Britain’s biggest independent provider of full-fiber broadband infrastructure, according to media reports.
OPEC Fund approves $233 million for development projects
The grants were approved at the 179th session of OFID’s Governing Board in Vienna.
Jordan to receive $1.65bn in US aid in 2022
Jordan has seen several factors affect its economy, such as the conditions brought on by the Covid-19 and the Syrian refuge crises.
Governor chairs meeting to turn Makkah into a smart region
The meeting was attended by the Minister of Communications and Information Technology Abdullah Al-Sawaha, as well as the heads of universities in the region.
Bahrain signs pact with Cisco
The company will build the government’s data network.
SFD postpones Pakistan debts for development projects
The projects that the SFD contributes to financing through loans and grants in Pakistan amount to around SAR5 billion ($1.33 billion).
Arada awards two contracts
The $32.13m contracts are aimed at development in Masaar.
Makkah governor launches $4bn projects in the region
The new initiatives are expected to support environmental and water sustainability in accordance with the Saudi Vision 2030.
Dubai Maritime City launches $38m infrastructure project
Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1 million) to develop its infrastructure.
Bahrain’s Growth Dynamics
Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans among which is to become the Fintech hub.
Do structural reforms attract FDI?
As regional bourses aim to compete with developed markets, questions are also being raised over the state of reforms, the future of regulation in the region.
Dubai Maritime City launches $38 million infrastructure project
DP World’s purpose-built maritime hub, Dubai Maritime City (DMC), has launched an infrastructure project at a cost of AED140 million ($38 million). An official statement said the project is part of “ongoing efforts to boost Dubai’s economy and enhance the efficiency of the logistics sector”. The infrastructure project includes developing...Ras Al Khaimah provided $1.9m package to local businesses during pandemic
The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to business sectors in the Emirates. Local media reports said the package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic. RAK-DED said the package...
Aramco closes deal with consortium
The Global Investor Consortium acquires 49pc stake in Aramco Gas Pipelines.
Jordan, Egypt discuss cooperation in rail transport
Jordan Ministry of Transport spokesperson, Ali Odaibat, said the visit follows a meeting between Minister of Transport Wajih Azaizeh, and his Egyptian counterpart, Kamel Al-Wazir.
UAE trades $22.8 bn worth of rough diamonds in 2021, hits top spot globally
UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in 2021. Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, announced this at the Dubai Diamond Conference, local media reported. The conference was held at Dubai Multi Commodities Center...
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.