Middle East

Date

Naqel Express, a leading express logistics and supply chain company in Saudi Arabia with the largest seamless network, is powering ahead with a raft of initiatives in the Kingdom and globally.   In alignment with the Kingdom’s Vision 2030 initiative, Naqel has unleashed new investments of over SR200 million ($53 million) in the western province of Saudi Arabia to further facilitate imports and trading with the three continents connecti…


The offer was hugely oversubscribed, with orders exceeding $60bn Saudi Aramco, the world's largest oil-exporting company, raised $6 billion through its first US dollar-denominated sukuk issue. The company raised $1bn through the issue of three-year notes offering a profit rate of 0.946 per cent, $2bn through 15-year notes with a profit rate of 1.602 per cent and $3bn through 20-year notes with a rate of 2.694 per cent, it said in a statement on T…


Signs of a global food crisis are emerging, represented by high prices and scarcity of quantities in specific commodities that receive many requests from all countries. Reliable sources told the Annahar daily that Kuwait, the first Arab in global indicators on the level of food security, has hedged well in this aspect and stressed Kuwait spends about 1.5 billion dinars on imported goods annually. The sources indicated that the country is expandin…


Union of domestic labor office stated that domestic workers are excluded from the Cabinet’s decision allowing vaccinated expats to enter Kuwait with vaccines approved in Kuwait. The clarification was issued today that domestic workers can enter without any vaccination reports Al Rai. Earlier today the Cabinet announced that from 1st August onward vaccinated expats with valid residence will be allowed to enter Kuwait. ....


The government will pitch in about OMR200 each for salaries of about 15,000 private sector jobs, the Minister of Labour said on Thursday. "These will be temporary contracts, which is common across the world now, especially with remote and part-time work. Job seekers can earn and learn skills this way, until they find a more stable source of income," His Excellency Dr Mahad bin Said Ba’owain, Minister of Labour, said in an interview with Oma…


Astronomically, the Khareef season begins from Monday in the Governorate of Dhofar. Muhammad Al Barami, Meteorology expert said: "The Khareef season will begin on June 21, the date of the summer solstice, according to astronomical calculations, but the effects of the season began with the intensification of monsoon clouds, and a number of areas in the Dhofar Governorate witnessed mist and drizzle."....


2021-06-18

QNB Group, the largest financial institution in the Middle East and Africa, topped the ranking of the Forbes’s ‘Top 50 Banks in the Middle East’ list featuring the region’s banking giants that help drive the region’s economies.  QNB Group hit first place with sales of $13.5 billion sales and profits totaling $3.3 billion. As of June 6, 2021, the banks featured on Forbes Middle East’s list of the “Top…


2021-06-18

flydubai, the Dubai-based airline, has announced the start of a twice-weekly service to Ankara Esenboga International Airport (ESB) from 29th July, 2021, its second destination in Turkey after Istanbul (IST) which is currently served with a daily flight.The carrier also added two destinations in Turkey to its seasonal summer schedule. It operates two weekly flights from Terminal 2, Dubai International (DXB) to Milas-Bodrum Airport (BJV) and to Tr…


2021-06-18

 The UAE GDP is expected to grow by 2.4 percent in 2021 and 3.8 percent in 2022 while the non-oil GDP to expand by around 4 percent in both years, according to the Financial Stability Report (FSR) released by the Central Bank of the UAE (CBUAE) today. The CBUAE has published its FSR for the year 2020, featuring key solvency and liquidity indicators that demonstrate the resiliency of the UAE’s financial system amid the COVID-19 pandemic…


2021-06-18

The Representative Committee of the Industry Sector Business Group of the Sharjah Chamber Commerce & Industry (SCCI), in cooperation with the Sharjah Police General Command, organised on Wednesday the second introductory session on the security measures of the industrial facilities in the Emirate of Sharjah. The session falls within the framework of the awareness campaign launched under the theme "Your business safety is a key to thrive" and …


2021-06-18

A total of 1,921 real estate and property transactions valued at AED5 billion were registered during the week ending 17th June 2021, according to the Dubai Land Department (DLD) weekly report. 135 plots were sold for AED716.18 million, 1,298 apartments and villas were sold for AED2.54 billion. The top three transactions were a land in Island 2 sold for AED87.5 million, followed by a land that was sold for AED62.5 million in Al Hebiah First, and a…


2021-06-18

Operates to 124 destinations in July, close to 90% of pre-pandemic network Restarts services to over half a dozen cities in coming month along with much anticipated launch of Miami Expands A380 network to 15 cities operating 129 weekly services on 30 aircraft Emirates is ramping up its operations and expanding services across its network to meet strong leisure travel demand over the summer, as entry restrictions ease for  travellers. Th…


2021-06-18

Awards held to recognise the contribution of consultants in attracting a diverse range of businesses to DMCC in 2020 Event takes place in Almas Tower under strict COVID-19 health and safety protocol   DMCC hosted the DMCC Consultant Awards to officially recognise the contribution of consultants in attracting a diverse range of businesses to DMCC in 2020. DMCC registered a record-breaking 2025 new companies in 2020 – the highest n…


Prime Minister Tan Sri Muhyiddin Yassin has called on Egypt - the largest Malaysian palm oil importer in Africa - to increase future palm oil imports from the country. Muhyiddin also proposed for a Comprehensive Economic Cooperation agreement between both countries, which was well received by Egyptian president Abdel Fattah Al Sisi....


The PetroVietnam Gas Trading Company (PV GAS Trading) received a batch of 46,000 tonnes of refrigerated liquefied petroleum gas (LPG) from Saudi Aramco in early June, making it the first direct customer of the Saudi Arabian public petroleum and natural gas company in Vietnam.The batch worth some 560 billion VND (24.06 million USD) resulted from a decade of exchanging, seeking opportunities, and building trust for cooperation b…


Nessa's mission is to help educate and guide customers on how to use each beauty product bought from the website, while providing genuine customer reviews “Every great business opportunity starts with solving your own problem.” That’s how Selina Ved, founder of UAE-based social commerce platform Nessa, answers when asked what prompted her to launch her own business. Ved, who is self-admittedly a massive makeup enthusiast, s…


AKcess is a tech software firm that promises a safe and secure digital identity management solution for private and commercial use. Despite the fact that most customer forms today are digital, many customers are still tasked with the mundane routine of having to fill out the same form umpteen number of times. Whether it’s filling out the same old “know your customer” (KYC) form at a bank or university, or having to pro…


Driven by Vision 2030, a wide range of government entities in Saudi Arabia are looking to privatize their organizations with the ultimate goal of diversifying revenue sources away from a reliance on oil. In a move that will further stabilize the Kingdom for future generations, privatization will enable the country to continue to grow exponentially through income generation from new sources.Mapping the privatization road aheadPrivatization is no s…


Informed sources stated that in today’s Cabinet meeting a recommendation was submitted to allow vaccinated expats  to return to Kuwait, The government spokesman, Tariq Al-Mazram, announced  that from 1st August onward vaccinated expats with valid residence will be allowed to enter Kuwait. Only those who have received Oxford/AstraZeneca, Pfizer, Moderna and Johnson & Johnson will be allowed to enter, expats entering Kuwait…


Muscat Municipality has urged owners of businesses, workers and beneficiaries to adhere to the health precautions and the decisions of the supreme committee to limit the spread of Covid-19.....


Women leaders have expressed their optimism on the increasing gender equality across workplaces in Qatar at the live online discussion ‘Women in Business’ which was organised by the Chamber of Commerce of Spain in Qatar and the Doha Women Forum yesterday.      Speaking during the event, Spanish Ambassador to Qatar H E Belen Alfaro reiterated that labor force participation for Qatari women stood at 51 percent, which i…


Lana Khalaf, Microsoft’s country manager for Qatar, explains how the tech giant’s cloud infrastructure is helping the country to accelerate its digital transformation. How is Microsoft working with Qatar and what is the aim of the partnership?....


2021-06-17

Nasdaq Dubai, the region’s international financial exchange, today welcomed the listing of a US$ 600 million Sukuk by Ahli United Bank, one of Kuwait’s leading financial institutions. The Tier 1 Capital Certificates attracted more than US$ 1.7 billion in orders. The listing underlines the close capital markets’ ties between Kuwait and the UAE, as well as Dubai’s status as the one of the world’s largest centre for Suk…


2021-06-17

Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, and Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA) region, have recently signed an agreement to provide Network International’s merchant clients with a pre-approved business loan against their Point of Sale Receivables. The agreement was signed by Amit Malhotra, GM - Personal Banking Group, CBD and Ahmed Bin Tar…


2021-06-17

Masdar City, the sustainable urban development in the UAE, is set to play a key role in the global green recovery from COVID-19 as it continues to add sustainability-focused innovation and technology companies. The number of companies in the City’s free zone increased 26 percent in 2020, indicating the important role of the City and its offerings to innovation-led companies, including G42 Healthcare, whose laboratories and testing centres w…


2021-06-17

- “New perspectives” exhibition will showcase women’s contribution to society - Gender equality and women’s empowerment integral to achieving the SDGs  - Pavilion will inspire visitors to become change-makers in their own communities  Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment, unveiling creative content and programming for the Women’s Pavilion i…


2021-06-17

● Expo 2020 and UN Global Compact to co-curate SDG-focused business forum  ● Collaboration to spur private sector action to achieve the Global Goals by 2030● Alliance further enhances the United Nations’ participation at Expo 2020 DubaiExpo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum during Expo’s Global Goals Week (16-22 January 2022), to unite …


2021-06-16

Bahrain Bourse (BHB) announced its collaboration with Oxford Business Group (OBG) to produce a series of individual reports and other research tools to track the environmental, social and governance (ESG) journeys of companies listed on Bahrain Bourse.   The reports marks the latest addition to OBG’s suite of bespoke resources and are a reflection of the growing importance that firms are attaching to ESG as they plot their recovery fro…


2021-06-16

Airline now operates three weekly flights to Côte d’Ivoire, via Accra, our eighth new destination since the start of the global pandemic via the most connected and Best Airport in the Middle East and ‘Third Best Airport in the World’, Hamad International Airport Qatar Airways travellers from Africa can enjoy baggage allowances ranging from 46 Kg for Economy Class split over two pieces and 64 Kg split over two pieces in Bus…


The Qatari and Malaysian governments are trying to find ways to re-faciliate travel between both countries, Qatari Ambassador to Malaysia H E Fahad Mohd Y. Kafoud has said. He was speaking at the Powertalk webinar series ‘365 Days Into the Pandemic’ organised by the World Islamic Economic Forum (WIEF) Foundation recently. ....


Banking and finance is a vital sector for global economies. It is through banks that governments control monetary policy and inflation, and inject stimulus into the markets. When the pandemic hit last year, banks made sure that economies stayed afloat by using measures like postponing loan payments, restructuring debt, and lending to key sectors.   Here are the top 10 banks in the Middle East. We collected data from the listed stock exchange…


2021-06-16

The telecoms industry and 5G play a major role in supporting digital transformation as businesses move towards more collaborative and immersive remote working, said Hatem Bamatraf, Chief Technology Officer, Etisalat International, during the Telecoms World Middle East 2021.“The pandemic has accelerated digital transformation globally with a shift in investment opportunities and changes in online behaviours. Remote working infrastructure, ne…


2021-06-16

Moro Hub (Data Hub Integrated Solutions LLC), a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), today signed a Managed Service Provider (MSP) agreement with Trend Micro, a global leader in cybersecurity solutions. This will enable Moro Hub to provide cloud workload protection services to its customers and accelerate their digital transformation journey. The agreement was signed between Marwan Bin Haida…


2021-06-16

• The Amazon Fintech Lab is a hub for digital innovation and creativity based in the heart of Dubai International Financial Centre • Amazon Payment Services is working with innovators, start-ups and partners at Amazon Fintech Lab to support new programs, ideas and advance knowledge on the digital payments and fintech sectors worldwide Amazon Payment Services, a payment processing service in the Middle East and North Africa (MENA) region…


2021-06-16

RTA’s Dubai Taxi Corporation (DTC) concluded on June 15th 2021 a successful 5-day career fair. The event aimed to attract a wide spectrum of candidates looking for placements as taxi drivers to join the team of DTC fleet drivers that serve clients from all community members.  “(918) candidates have applied for taxi drivers at the Career Fair held at Dubai Taxi Corporation’s Head Office, Muhaisna 4. The event enabled ca…


"I had found a niche: relating crypto to the masses. That's when I decided to start an agency tailored to the industry- and now here we are!" Nikita Sachdev, CEO of Dubai-based PR and marketing agency Luna PR, has had an unusual but impressive career graph. She worked as a model and actress before delving fully into the world of blockchain and cryptocurrency, and subsequently ended up starting her own entrepreneurial venture in the same mark…


UAE’s B2B floral marketplace Floranow said it has acquired Astra Farm’s flower distribution business for an undisclosed amount, as the company is expanding into Saudi Arabia.   Floranow connects global producers of flowers and plants from exporting hubs to regional and international buyers, including florists, hotels, event planners and supermarkets. While Saudi’s Astra Farm is a producer of cut flowers and runs a distribut…


Construction is underway on GAC Qatar’s new 27,000m² multi-user contract logistics facility after the groundbreaking ceremony held in the Ras Bufontas Free Zone recently.      It follows the signing of an agreement between GAC and Qatar Free Zones Authority (QFZA) in February this year. The facility is expected to be completed by early 2022. It will be built from sustainable materials, partly fueled by solar power, wi…


Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has announced the launch of an all-new version of its award-winning Mobile App. Creating a simplified and more engaging user experience, the revamped application adopts a convenient, “step by step”, approach with enhanced navigation to enable easy and full access to the bank’s digital services. ...


The Deputy Director- General for Planning and Projects Affairs and spokesman of the Directorate-General of Civil Aviation (DGCA) Saad Al-Otaibi, announced the first flight of Kuwait Airways from the Kuwait International Airport to the United Kingdom will take off next Thursday, followed by the second flight of Jazeera Airways. Both flights will return the same day. The flights will operate once a week. The resumption of the flights comes in imple…


The application period for the recently announced government job opportunities will be extended till Thursday, June 24, 2021. A statement issued online by The Ministry of Labour said: "The Ministry will be extending the application period for the 1,003 government unit jobs announced on June 13 in the announcement No. 5/2021 (https://t.co/0PSbDXvkYR?amp=1) until June 24 in order to provide the largest possible opportunity for citizens to compete f…


2021-06-15

Nasdaq Dubai today welcomed the listing of US$ 750 million bondsby Emirates Development Bank, a key financial enabler of the country’s economic diversification. The five-year bond issuance has been priced at a yield of 1.639% and was 4 times oversubscribed with a strong demand from investors, as 34% of appetite came from MENA markets, 36% from European markets, 28% from Asian markets and 2% from US offshore market. The listing reinforces Du…


2021-06-15

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved the formation of the Board of Emirati Genome Program. His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, will chair the Board. The Emirati Genome Program aims to provide preventive and personalised healthcare for the Emirati p…


2021-06-15

Dubai Future Foundation (DFF), in partnership with the Future Foresight and Decision-Making Support Center at Dubai Police, launched its latest report titled ‘Banking and Financial Services Sector Scenarios of Risks and Resilience’, which examines the risks of cybercrime and the potential implications for the banking and finance sector in Dubai. The publication is part of DFF’s ‘The Digitisation of Critical Infrastructure&…


2021-06-15

Air Arabia Abu Dhabi, the capital’s first low-cost carrier, has announced the introduction of a new service to Trabzon in Turkey with direct flights from Abu Dhabi starting on July 13, 2021.    The new service offers greater connectivity and value-for-money options making it easier and more convenient for customers to travel between the …


2021-06-15

Group records annual loss of AED 22.1 billion (US$ 6.0 billion) due to COVID-19 pandemic impact, its first non-profitable year in over three decades Group revenue of AED 35.6 billion (US$ 9.7 billion) impacted by worldwide travel restrictions and border closures during the entire financial year Results impacted by one-time impairment charges of AED 1.5 billion on Group’s non-financial assets Ends year with solid cash balance of AED 19…


2021-06-15

Hosted by Dubai Chamber, the virtual series brings together chamber leaders and members to share knowledge, best practices and solutions. – Inaugural event attended by 138 delegates from 39 countries, including chamber leaders and representatives. – H.E. Buamim: Covid-19 has underlined the importance of advocacy strengthening chambers’ response to new challenges. Chambers will continue to remain relevant – and be advocates…


2021-06-15

Dubai Electricity and Water Authority (DEWA) urged its customers to conduct periodic inspections of internal water connections in their houses, buildings and facilities to discover and fix any potential leaks, and replace old connections, if necessary. This is part of DEWA’s efforts to help customers reduce waste as part of its ‘Let’s Make This Summer Green’ annual campaign. DEWA called on its customers to use its smart se…