Middle East

Date

The Saudi stock exchange Tadawul targets to introduce single stock futures (SSFs) on July 4, as part of continuous efforts to attract investors to the local market.   Key details The move will “enable local and international investors to hedge and manage portfolio risks more effectively as well as diversify products available for trading and hedging in the market,” Tadawul said Sunday in a statement......


2022-06-26

Dubai’s Roads and Transport Authority (RTA) has finalised a master plan for investing its data in line with the provisions of Law No 26 of 2015 Regulating Data Dissemination and Exchange in Dubai and subsequent policies. The law, which is aligned with the UAE Vision 2020, supports the pillars of a competitive economy driven by knowledge and innovation. The ultimate objective is to place the UAE at the heart of important economic transformat…


The vision of Kuwait’s government is to transform the nation into a regional and international financial and trade hub under the tenets of the Kuwait Vision 2035. The backbone of this transformational vision is ICT, which is essential to drive economic diversification, job creation, and global competitiveness. Kuwait ranks highly on global ICT development indicators, benefiting from near-universal internet penetration, increasing 5G coverag…


All the commercial and government berths, as well as liquid and bulk material facilities at the Port of Duqm in the Special Economic Zone at Duqm (Sezad), are progressing at a fast pace. “The company is relentlessly working with the Public Authority for Special Economic Zones and Free Zones (Opaz) on the installation of new cranes which would make a difference in the handling of containers at the port,” Reggy Vermeulen, Chief Executiv…


2022-06-25

“Tamkeen” continues to meet the supported enterprises to understand their future plans and encourage their growth and expansion through the optimal utilization of resources  The Labour Fund “Tamkeen” is continuing to hold its series of meetings with several enterprises who have received support through the recently launched programs. These programs were designed to increase productivity and achieve positive impact in …


Qatar Airways is seeking partnership with other Gulf Airlines, including Saudia, to increase the flow of football fans to Doha as Qatar is preparing to host the World Cup in November. Akbar Al-Baker, Qatar Airways Group CEO, told Arab News during the International Air Transport Association Annual General Meeting in Doha that the airline has tied up with flydubai, Kuwait Airways, Oman Air and Saudia to connect match ticket holders to Doha....…


The head of the Kingdom’s Saline Water Conversion Corp. said he expects the transfer of SWCC’s assets to the PIF-owned Water Solutions Co. to take up to three years. The Saudi cabinet has announced yesterday that it will stop the privatization of SWCC and move all its assets to WSC. In an exclusive interview with Arab News, the governor of SWCC Abdullah Al Abdulkarim said: “We are planning to do it within 18 to 20 months, but it…


The Careem Food and MUNCH:ON teams will work together to introduce low-cost meal segments that the latter has pioneered in the region, as well as new food discovery and delivery options for corporates. Careem, the MENA region's leading multi-service platform, announced Friday its acquisition of the UAE-born subscription-based food delivery platform, MUNCH:ON.....


Yalla Fel Sekka co-founders shares how they dealt with economic instability, local competition for talent, and the fact that Egypt doesn't have postal codes. Demand for last-mile delivery is predicted to grow 78% globally by 2030, and emerging markets are at the front of the line to offer the service. But they also face some of the biggest obstacles. In our home country of Egypt, we launched our startup, Yalla Fel Sekka (YFS), in 2020, …


2022-06-25

HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), welcomed HE Sekiguchi Noboru, Consul General of Japan to Dubai and the Northern Emirates. Maya Tokoh, Vice Consul, Economic Section and Kimura Taro, Vice Consul, Economic Section attended the meeting. Al Tayer emphasised DEWA’s eagerness to consolidate the levels of cooperation, friendship, and joint action with all diplomatic and consular missions …


Saudi Arabia plans to increase the number of fintech companies in the Kingdom by threefold under a new national strategy. The Ministry of Finance said in a statement that under the new fintech strategy the number of firms is expected to increase from 82 to 230 by 2025. It also seeks to increase fintech sector’s contribution to the gross domestic product to SR4.5 billion and create nearly 6,000 jobs by 2025.....


2022-06-24

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced the addition of fourteen shuttle flights daily from Sharjah International Airport to Hamad International Airport in Doha, Qatar starting from November 21, 2022 until December 18, 2022. The shuttle flights are only eligible for ticket holders of the FIFA World Cup Qatar 2022 and will operate alongside Air Arabia’s three daily schedule…


2022-06-24

Agreements on AED21 Billion of these manufacturing opportunities signed with UAE and international companies at the Make it in the Emirates ForumProducts identified that could be manufactured locally will be purchased by ADNOC between 2022-2030 as it expands its operationsADNOC is creating long-term opportunities in the UAE’s manufacturing sector and reinforcing its role as a critical engine for the country’s industrial growth Abu Dha…


2022-06-24

Emirates Holidays is offering UAE travellers the chance to plan their well-deserved getaways this summer, lining up attractive packages for a stress-free stay in some of the most stunning resorts across the Maldives, Mauritius, Thailand and Bali, with a variety of offers to choose from for families, couples looking for a romantic retreat, and those who just want to indulge in a luxurious holiday. All the packages include return Economy class…


2022-06-24

راشد بن حميد يكرم مكاتب الاستشارات الهندسية ومقاولات ابنا


2022-06-23

We are proud of the confidence that the government of Romania continues to show in us and look forward to delivering a world-class, integrated supply chain solution that will enhance Costanta Port and Romania’s position in the region.  Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World         The Romanian government has signed an agreement with Dubai’s Ports, Customs and Fr…


2022-06-23

HE Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (DEWA), received from HE Helal Saeed Al Marri, Director General of Dubai's Department of Economy and Tourism, a certificate of thanks and appreciation from His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai. This is in appreciation of DEWA’s active role and its sponsorship of the Du…


2022-06-23

Emirates has taken off to Tel Aviv, marking the airline’s first passenger flight to Israel. Emirates flight EK931 departed with 335 passengers, including a VIP delegation and Israeli media onboard at 1220hrs local time. Emirates executives onboard included: Adel Al Redha, Chief Operating Officer; Dr Abdulla Al Hashimi, Divisional Senior Vice President, Group Security; Adil Al Ghaith, Senior Vice President, Commercial Gulf, Middle East …


China, India, and South Korea remain Saudi Arabia’s main trading partners, as the Kingdom's overall merchandise exports increased by 98 percent to SR137 billion ($36.51 billion) in April, up from SR69.3 billion in April 2021, according to the General Authority for Statistics. The government data revealed that Saudi Arabia’s exports to China amounted to SR23.4 billion in April 2022, accounting for 17 percent of the total exports.....


Lebanon is expected to receive tourism inflows worth $3.5 billion as tourism is set to rebound over the high summer season, AFP reported Wednesday, citing the nation's Tourism Minister Walid Nassar. Key details The country is expected to receive one million tourists, Nassar said. Reservations show that three-quarters of the arrivals to the crisis-hit country belong to Lebanese nationals from the diaspora. "The remaining 25% are foreigners hailing…


As a startup that offers services ranging from developing mobile apps to building custom websites, KonnectEd aims to cater to the technological shifts that are being witnessed across a diverse range of sectors. "A new kind of tech startup." Those are the first words you see when you land on the official website of Dubai-based B2B business solutions company KonnectEd. "Our company creates technological solutions to everyday problems," says An…


2022-06-22

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), announced its partnership with Perform IT, a global IT consultancy company specialising in Business Observability Solutions, Professional and Managed Services. In line with this partnership, Moro Hub will be able to deliver advanced IT solutions to its clients, mainly focusing on Business Observability Solutions. Perform IT’s Business Ob…


2022-06-22

With the significant demand for air travel during Hajj, Emirates is deploying extra flights to ensure more connectivity for the scores of pilgrims making their way to the Holy City of Makkah. Emirates will be operating special flights to Jeddah and Medina during the upcoming Hajj season to carry pilgrims for this special period. Emirates will be deploying 31 additional flights to Jeddah and double daily flights to Medina from 23 June to 20 July t…


2022-06-22

Dubai’s Roads and Transport Authority (RTA) has recently signed a Memorandum of Understanding with the Department of Transport and Main Roads, Queensland, Australia to boost bilateral relations in the interest of both parties. The MoU provides for sharing expertise and technical consultancies in various fields as well as information and studies to make use of the existing resources.  His Excellency Mattar Al Tayer, Director-General, Ch…


2022-06-22

صيفنا أجمل في دبي


2022-06-22

Summer is better in Dubai


Saudi Arabia and Egypt have signed 14 investment deals worth $7.7 billion, the Saudi Minister of Trade, Majid Al-Qasabi announced. The two countries have also agreed three Memorandums of Understanding, Al-Qasabi revealed during a meeting of the Egyptian-Saudi Business Council....


Expo City Dubai, which is the legacy plan of Expo 2020 Dubai as well as part of the Dubai 2040 Urban Master Plan, will build on the momentum and resounding success of the six-month World Expo in the Emirate to create an environmentally-friendly, tech-enabled city of the future. H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced the transformation of the site for Expo 202…


2022-06-21

Dubai’s Roads and Transport Authority (RTA) represented by the Passenger Transport Activities Monitoring Department has carried out a joint campaign with Jebel Ali Police Station targeting unlicensed passenger transport practices.  The campaign targeted two types of activities. The first entails the use of unlicensed vehicles to transport passengers who have no social relationship with the driver in exchange for a fee, be it within Dub…


2022-06-21

The trade and logistics industry is ripe for high-scale automation. Our teams will be working towards making existing solutions more efficient and building new solutions – from conception to execution – helping deliver a seamless flow of trade from the ground up.  Mike Bhaskaran, COO of Digital Technology, DP World   DP World has taken a new leap in its drive to open up new markets and offer innovative trade solutions with t…


2022-06-21

City Centre Ajman Indoor Run 2022سباق سيتي سنتر عجمان للجري الداخلي


China’s crude oil imports from Russia soared 55 percent from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine....


QatarEnergy signed a deal Monday with American company ConocoPhillips for Qatar's North Field East expansion, after the Gulf country recently signed agreements with TotalEnergies and Eni, reported AFP.   Key details QatarEnergies' CEO Saad al-Kaabi stated in a press conference that the partnerships with international companies would be effective for 27 years. The project is expected to boost Qatar's position as the world's top Liquified…


Bahrain's economy grew by 5.5% during the first quarter of 2022, with the non-oil sector registering a growth of 7.8%, the state-run Bahrain News Agency reported, citing Monday’s cabinet meeting.   Key details “Bahrain implemented a commendable pandemic policy response, which successfully mitigated the health and economic impact of the COVID-19 crisis. The strong vaccination campaign covered all residents, was one of the fastest …


2022-06-20

Dubai Electricity and Water Authority (DEWA) has launched its Smart Grid Report 2022. The report highlights the latest information regarding DEWA’s smart grid and its role in sustaining DEWA’s position as one of the most outstanding utilities worldwide. The report also demonstrates the role of a smart grid in the development of a smart city, which supports the Smart Dubai initiative launched by HH Sheikh Mohammed bin Rashid Al Maktoum…


2022-06-20

As travel rebounds from the impact of the pandemic, Emirates is busy preparing for its busiest period yet, with over 550,000 customers expected to fly out from the UAE between June and July on over 2,400 weekly network-wide departures. The airline continues to add flights and frequencies where possible as it ramps up its summer schedule, and will be operating close to 80% of its pre-pandemic capacity, or over 1 million weekly seats this summer to…


2022-06-20

Al Tayer: Digitisation rate clocked 95.2%, and the number of users on digital platforms hit 2 million His Excellency Mattar Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) revealed that RTA’s revenues collected via digital platforms increased by 32% in 2021 through 309 services provided via digital channels. RTA’s total digital revenues amounted to AED3.5 billion, com…


Saudi Arabia signed five contracts to boost Jeddah's port position as a leader in the Middle East. The Kingdom's Saudi Ports Authority, also known as MAWANI, signed a deal with DP World to create a new logistic park in Jeddah Islamic Port, following a similar deal with Maersk to create their largest logisitc park in the Middle East in Jeddah....


Business Network International (BNI) Qatar Chapter celebrated on Thursday its eighth anniversary in the country and Annual Business Awards honouring 88 individuals from their organisation who made exemplary performance for the past year. Among the winners were: Member of the year - Aji Kuriakose; Chapter of the Year - BNI Phoenix; Maximum Visitors - Ayman Al Qudwa and Khaled Nassar; Top performers of 12 months - Shabeer Mohammed and Ayman Al Qudw…


When people mention the Gulf region, it brings to mind oil-rich nations, a vast expanse of desert, exotic dishes, and warm weather. In the past decade, however, the Gulf’s traditional monarchies decided to diversify and invest in museums, architecture, and universities by the billions of dollars to create the world’s new cultural destination and simultaneously direct the limelight to the region’s rich heritage.   Auction ho…


2022-06-19

Flagship event taking place on 28 and 29 June 2022 Over 1,000 attendees, including visionary and trailblazing voices from the FinTech sector Sessions focusing on the key areas shaping the FinTech sector, including Web 3.0, metaverse, NFTs, crypto, blockchain, embedded finance, open banking, RegTech and ESG Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) regi…


2022-06-19

Dubai Electricity and Water Authority (DEWA) attaches great importance to the happiness of its employees of determination and has launched various initiatives and programmes to empower them and enhance their inclusion in the work environment and in society. These efforts contributed to the happiness of its employees of determination reaching 99.33% in 2021, compared to 92% in 2015. “At DEWA, we are committed to including and empowering empl…


Launched at the beginning of 2022, the #2022FemaleAngels movement aims to inspire and identify 2,022 female angel investors for the MENA region by the end of the year to help diversify the early-stage investment landscape. The 2022 Female Angels movement gets closer to its vision of achieving more gender equity in the MENA investment ecosystem by reaching 200 publicly listed women angel investors on its platform.......


This edition of Dtec Forum will be kicked off with a talk by Nelio Leone, founder and CEO, Urban Monks, who will delve into the mechanics surrounding the NFT landscape, and share practical insights on how entrepreneurs can leverage it to bolster their respective businesses. In the ensuing panel discussion titled "A Bubble Or A Bet? The Business Of NFTs," Mihaela Nina, founder, Mirrows, Danosch Zahedi, co-founder, Arts DAO, and Anth…


2022-06-18

Dubai Electricity and Water Authority (DEWA) has won the Globe of Honour Award for Environment for the 10th time and the Sword of Honour for health and safety for the 14th time. This new achievement adds to the organisation’s record of winning prestigious awards. The British Safety Council announced that DEWA is one of six organisations globally to simultaneously win the Globe of Honour Award for Environment and the Sword of Honour for Heal…


2022-06-18

As part of the implementation of the Al Quoz Creative Zone development project’s second phase, which was approved last year by Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and member of the Dubai Council, in cooperation with the Roads and Transport Authority in Dubai (RTA), the Authority finalised the route of the area and gave a distinctive identity to its …


2022-06-18

-SHUAA secures a seven-year SOFR-based LBO facility from NBF and APICORP -Transaction includes a 7-year interest rate swap (“IRS”) with NBF to hedge rate exposure -This transaction underscores financiers' confidence in the regional offshore support vessels (“OSV”) sector and SHUAA’s strong sponsor credentials -The acquisition of Allianz marks SHUAA managed fund’s second investment in OSV space following the …


2022-06-18

Midday break 2022