Middle East

Date
2021-11-29

Export Bahrain and talabat have signed a region-wide agreement to facilitate the export of Made-in-Bahrain products throughout the MENA region with the aim of improving trade and business for SME exporters based in Bahrain through Talabat’s online platforms.   The agreement, which was signed at talabat’s ‘talabat kitchen,’ a two-story Cloud Kitchen showcasing the future of food at Expo 2020, by Export Bahrain Acting C…


he Saudi Electricity Company is transferring its ownership of its subsidiary, Saudi Power Procurement Company, to the government, the company said on a bourse filing.  SPPC is responsible for tendering renewable and conventional energy projects in order to meet the growth in the Kingdom’s power demand....


Saudi Arabia’s oil giant Aramco has announced the start of its development of its Jafurah unconventional gas field in a press event on Monday.  The company’s chief executive officer, Amin Nasser, said the field, which it claims to be the largest in the world, could replace 500,000 barrels per day of oil production “at its peak.”.....


The impact of Omicron, a new variant of COVID-19, on oil demand is not clear yet, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said. ....


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Shoppers will have more options to choose from as more new malls are set to open in the country in coming months. Qatar’s retail market will witness the entry of new companies as six new malls are expected to open in the country by the end of next year, according to a report released by real estate consultancy firm- ValuStrat. “518,000 sqm GLA (6 malls) is in pipeline till 2022, distributed across Lusail, The Pearl, Musheireb, Umm Sal…


2021-11-29

Three UAE ministers and government representatives from the Association of South East Asian Nations will join 40 speakers at the December 8-9 forum • H.E Reem Al Hashemi, H.E. Omar Sultan Al Olama, and H.E Dr Thani Al Zeyoudi will all deliver keynote addresses at the inaugural event• More than 25 workshops and discussions over the forum’s two days will explore array of bilateral trade and business opportunities between Dubai and A…


2021-11-29

Dubai’s Roads and Transport Authority (RTA) announced the timings of its services during the holiday marking Commemoration Day and the 50th UAE National Day. The revised service timing applies to customer happiness centres, paid parking zones, public buses, metro, tram, marine transport, and service provider centres (technical testing of vehicles).  Service Provider Centres (Technical Testing Centres) and Customer Happiness Centre…


2021-11-29

Drones form '50' for UAE National Day at Expo 2020 Dubai


The launch of Singapore’s vaccinated travel lane (VTL) arrangements with Qatar, Saudi Arabia and the United Arab Emirates will be deferred as a “precautionary move” to reduce the risk of importation and spread of the new Omicron COVID-19 variant. VTLs for these countries, originally scheduled to launch from Dec 6, will now be deferred “until further notice”, the Ministry of Health (MOH) said on Sunday (Nov …


Saudi Arabia’s budget airline flyadeal aims to nurture and promote local female talent as it's doubling its fleet by end of next year, its chief commercial officer told Arab News. Ahmed Albrahim said the low-cost airline’s fleet contains 15 A320 narrowbodies, and it will continue to receive more aircraft of the A320 Neo class.....


Kuwait and Oman have suspended direct flights from several southern African countries, amid concerns over the spread of the new Covid-19 variant Omicron in South Africa.   Travel curbs Both countries said in separate statements they have banned the entry of travelers from South Africa, Namibia, Botswana, Zimbabwe, Mozambique, Lesotho, and Eswatini, with Kuwait adding two more countries, Zambia and Malawi, to its list.....


Lebanon’s annual inflation climbed to a record high of 173.57% in October as residents were paying over six times more for transportation than they were just a year before, the government’s Central Administration of Statistics (CAS) data shows.   October was the 16th straight month that the agency had registered triple-digit annual inflation as Lebanon continues to plunge deeper into a crisis labeled by the World Bank as one of t…


Bahrain’s credit rating outlook was raised to ‘stable’ from ‘negative’ by S&P Global on the back of new fiscal reforms that were unveiled by the Gulf state last month as part of its broader strategy to boost its non-oil revenues and cut back state spending.   Compared to its oil-rich Gulf neighbors, Bahrain has struggled to keep its finances in check in recent years. Credit rating   S&P Global in a …


Dubai has approved property projects worth $1 billion (AED 3.8 billion) as part of a strategy to offer quality housing for the public, Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE, and ruler of Dubai, tweeted Sunday. Amenities for small families The projects include the distribution of 2,000 residential plots, 900 residential villas, and a complex worth $136.1 million (AED 500 million) for small families, th…


2021-11-28

The new partnership will offer customers seamless connectivity to/from Latvia, Estonia, Lithuania and Finland. Emirates has signed a codeshare agreement with airBaltic to offer customers enhanced connectivity to/from Latvia, Estonia, Lithuania and Finland. The codeshare partnership will open new travel opportunities and offer Emirates’ customers convenient access to the Baltic Sea region. airBalitc customers’ will also benefit from se…


2021-11-28

Here are some of the new laws in the UAE's largest legal reform


2021-11-28

Winning companies to be named at prestigious awards ceremony in December 9th 2021 • MRM Business Award, MRM Business Innovation Award, and MRM Customer Excellence Award are the highest level of recognition for business, innovation and customer excellence in the region. Preparations are currently underway for the awards ceremony of the 11th cycle of the Mohammed bin Rashid Al Maktoum (MRM) Business Award, the 3rd cycle of the Mohammed bin Ras…


Consultancy firm EnterPH teamed up with a Dubai-based business setup advisory company to help bring more Philippine enterprises to the United Arab Emirates (UAE). EnterPH—led by entrepreneurs RJ Ledesma and Ricardo Chan—announced its strategic partnership with Creative Zone, which will provide a platform for small and medium enterprises (SMEs) and aspiring startups looking to open their business in Dubai and other Gulf Cooperation Cou…


(Via Team Angel Wolf)   The highlight of our morning during the 10kms run at the Dubai Run event for Dubai Fitness Challenge … His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai lead the way and openly participated in the 10kms of Dubai Run amongst his community. Another special moment that our children Rio ad Tia ( @littlewolf1311 ) will always remembe…


2021-11-28

  Via Team Angel Wolf The highlight of our morning during the 10kms run at the Dubai Run event for @dubaifitnesschallenge …His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai ( @faz3 ) lead the way and openly participated in the 10kms of Dubai Run amongst his community.Another special moment that our children Rio ad Tia ( @littlew…


Lebanon’s Anghami, known as the Spotify of the Arab world, will not postpone its merger with the blank-check company Vistas Media in a potential $90 million deal, according to the firm’s CEO. Eddie Maroun said the agreement had suffered a delay due to the procedures of the Securities and Exchange Commission in the US, but the deal will still go ahead.....


US investment bank Moelis & Co. plans to open an office in the Saudi capital Riyadh and will soon begin hiring staff in the Kingdom, Bloomberg reported. The New York-based company sees the Kingdom attracting more foreign investors and benefiting from an “energy supercycle,” Vice Chairman Eric Cantor said in an interview......


2021-11-27

The Bahrain Institute of Banking and Finance (BIBF) has announced the launch of six learning academies for IT and digital transformation as part of the institute's efforts to support the government's recent economic recovery strategy, which prioritized training 10,000 Bahrainis and identified IT as one of the most promising economic sectors. The unveiling of these academies coincides with the relocation of the Bahrain Institute of Banking and Fin…


As 'Emirates Woman' marks its 40th anniversary, some of the incredible women we know and work with share their messages in celebration of this milestone. Her Highness Sheikha Sana Al MaktoumFounder of Sana Al Maktoum Fine Jewellery@sanaalmaktoumofficial “I think the Emirates Woman brand has not only been instrumental, but integral in capturing the evolution of some truly inspirational women that have contributed to the UAE in…


EFG Hermes fintech subsidiary, valU, intends to expand in Saudi Arabia and North Africa next year following strong growth in its home market of Egypt, according to CEO Walid Hassouna. valU is also working on issuing a new tranche of bonds worth 500 million Egyptian pounds ($31.8 million) in the first half of 2022, as part of a 2 billion Egyptian pounds program through 2023, Hassouna told Asharq on Thursday......


Saudi Finance Minister Mohammed Al-Jadaan, who is also chairman of the Zakat, Tax and Customs Authority, has approved amendments to the executive regulations of the Uniform GCC Customs Law, Argaam reported citing the official gazette Umm Al Qura. As per the amended rules, customs duties on foreign commodities re-exported outside the Gulf Cooperation Council should be refunded, in whole or in part, provided that the exporter (re-exporter) is the i…


2021-11-27

– The agreement aims to expand cooperation in key areas of mutual interest, such as innovation, energy, advanced technologies, mobility, exhibitions and conferences and chamber services. – H.E. Buamim – Strategic agreement is a natural next step to tap into existing trade and investment potential. Dubai Chamber and Hamburg Chamber of Commerce have signed a Memorandum of Understanding (MoU) to renew their strategic partnership, i…


Data privacy is important for all businesses operating in  Qatar and globally. Interest in data privacy continues to grow at a rapid rate as data protection is about ensuring people can trust organizations to use their data fairly and responsibly said an expert during an event. The Qatar Financial Centre (QFC)  Tech  Talk webinar entitled, ‘QFC Data Protection – Current and Future Regula-tions’ provided insights i…


2021-11-27

Dubai’s Roads and Transport Authority (RTA) announced the signing of job offers for 71 Emirati graduates at the end of the 20th Careers UAE 2021. RTA’s stand at the fair saw a huge footfall of visitors keen to know more about the employment prospects and training programmes RTA offers to job seekers. His Excellency Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Autho…


Infralytiks was launched in 2020, with the aim to ease the process of data analytics, while also developing custom software and automation platforms intended for the purposes of inspection. An important facet of the construction industry and any sector that involves the building of any sort of infrastructure is the safety and quality inspection that is carried out both during and after the overall process. Over the past decade, drones have largel…


Saudi Arabia’s top gamers have begun battling it out for a share of a SR4 million ($1.1million) prize pot at the Kingdom’s eLeague Champions event. Winners from two other esports events held this year have come together for a final competition in Riyadh’s Media City, which kicked off on Friday, Nov. 26 and will finish on Dec. 25. Some 32 players in four teams will fight it out across five games: “Rainbow Six Siege”, …


Saudi Arabia is making the transition to a more diversified economy, after being reliant upon oil for much of the past century — a trend sparked by Vision 2030 as well as commitments made at the COP26 Summit last month. While corporate giants such as Aramco and Sabic continue to dominate the economy, a culture of enterprise is taking hold as more and more young people start their own companies....


No Saudi banks were lost during the financial crisis of 2008/9 and the financial sector is again in a strong position as it faces the economic fallout from the COVID-19 pandemic, according to Saudi Central Bank Governor Fahad Almubarak. The central bank — also known as SAMA — has been and continues to be strict in its application of international standards, and so are other institutions in the Kingdom, Almubarak said at the Financial …


Major Swiss banks including Switzerland’s largest and second largest banks – UBS Group and Credit Suisse Group, respectively - are currently in discussions to significantly increase their presence in Qatar. A move which will not only create more jobs in the country’s banking sector, but will also further raise Qatar’s profile as a financial centre, Ambassador of Switzerland to Qatar H E Edgar Doerig has said.  Speakin…


2021-11-26

5G wireless technology capabilities will be implemented in select DIFC internal office spaces as part of a broader innovation agreement. du will oversee smart services and sustainable innovative technologies deployment in DIFC. Visitor and business experiences within the Centre will be enhanced. The partnership aligns with Dubai’s 2021 strategy to nurture innovation and DIFC’s vision to shape the future of finance. Dubai Internationa…


2021-11-26

Released on the sidelines of the 12th World Chambers Congress in Dubai, the latest Dubai Innovation Index Report analyses innovation output across 39 global cities. Dubai ranked ahead of Beijing, Shanghai and Sao Paulo, as the emirate scores high in the categories of infrastructure, government and society Government of Dubai Media Office : Dubai leads the Arab world in the latest edition of the Dubai Innovation Index, maintaining its 20th positio…


Expats arriving from these countries must spend five days in quarantine regardless of their vaccination status Saudi Arabia will lift the travel ban on people coming from six countries including India. Apart from that, passengers from Pakistan, Brazil, Vietnam, Egypt and Indonesia will be allowed to enter the Kingdom directly from December 1, local reports suggested.....


Under the sponsorship of the Qatar Chamber (QC) and support of the Qatar Businesswomen Forum, the seventh edition of the ‘Merwad Exhibition’ is scheduled to kick off on January 5 at the Qatar National Convention Centre (QNCC). The six-day expo, which is organised by Vouge Event Company, will display products and designs of more than 140 prominent female entrepreneurs from Qatar, alongside others from GCC countries, Lebanon, Turkey, Eg…


The number of licenses for new foreign investment projects in Saudi Arabia hit a record of 575 in the second quarter of this year, according to a recent report by Invest Saudi, the country’s promotion vehicle overseen by the Ministry of Investment.  The number of new investment licenses awarded for such projects showed a consistent increase during each month of the second quarter posting annual growth rates of 128 percent, 313 percent …


Saudi Arabia is preparing 160 privatization deals and intends to announce more of these operations next year, Saudi Finance Minister Mohammed Al-Jadaan revealed on Thursday,  Speaking at the Financial Stability Conference, Al-Jadaan said while the health sector will not be fully privatized as a service provider, parts of it, such as radiology, could be....


2021-11-25

• A new Strategic Projects Plan to drive investment, advance infrastructure, create jobs, and boost economic growth will see over $30 billion invested • Over 20 new projects including the construction of 5 new offshore cities • Key national infrastructure and telecommunications projects include a 100km metro system and a new causeway connecting the Kingdom to Saudi Arabia • Bahrain International Exhibition to become the larges…


Foreign inflows in the Saudi capital market since 2019 have reached nearly SR135 billion ($35.98 billion), despite the Kingdom being at an early stage in dealing with external investors, Capital Market Authority Chairman Mohammed ElKuwaiz said. Opening the market for foreign investment supports diversification of funding sources for listed companies, ElKuwaiz said, during his participation in the second session of the Financial Stability Conferen…


Built with the aim to simplify financial services, YAP (whose name came about as a reversal of the word "pay") provides its users in the UAE with tools that give them complete control of their finances. When it launched in March this year, fintech enterprise YAP came out with the declaration of being the first independent digital banking platform in the UAE, but co-founder and Managing Director Anas Zaidan tells me early on in our inter…


2021-11-25

Dubai Roads and Transport Authority’s Customers Council hosted a Traditional Abras Owners and Operators gathering at Umm Suqeim Majlis, in the presence of Mohammed Obaid Al Mulla, Member of the Board of Executive Directors and Chair of RTA’s Customers Council, Mohammed Abu Bakr Al Hashmi, Director of Marine Transport at RTA’s Public Transport Agency and several members of the Customers Council as well as a number Community Devel…


The Saudi economy is likely to grow by 4.9 percent in 2022 on the back of a rebound in the oil sector, KPMG and Beltone Financial Holding have predicted. KPMG, one of the Big Four accounting organizations, said in its report that oil output is expected to increase at an annual rate of 10 percent in 2022 due to the unwinding of oil supply cuts that were part of the OPEC+ agreement. However, it added, the expansion will follow a possible contractio…


The vast Red Sea Project encompasses urban development, mass tourism and the ‘greening’ of an entire region — in addition to the cultural dimension: A major potential draw for around 7 million dive tourists to Saudi Arabia.  No fewer than 1,600 archeological sites have been identified in the region, of which 20 have been narrowed down as potential touristic attractions. These include Nabataean and other pre-Islamic remains …


Saudi Arabia’s re-exports hit record levels in September, coming in at SR5.6 billion ($1.5 billion), according to data released by the General Authority for Statistics.  That figure is more than double the value for August, where it stood at SR2.7 billion.....