Month: September 2019

Sharjah Industrial Investment Booklet launched

Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department, SEDD, stressed on the importance of the industrial sector and its leading role in supporting the growth of the economy of Sharjah and the UAE during the launch of the Sharjah Industrial Investment Booklet. The role of the industrial sector represents the […]

Virtual Company Licence launched in Dubai

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, today announced the launch of the region's first 'Virtual Company Licence’, allowing investors worldwide to do business in Dubai digitally without requiring residence and in accordance with the highest international legal standards. The announcement is aligned with the third Article of the […]

ADNOC completes combination of fertilizer enterprise with OCI

OCI N.V. and Abu Dhabi National Oil Company, ADNOC, today announced the completion of their transaction to combine ADNOC’s fertiliser business into OCI’s Middle East and North Africa, MENA, nitrogen fertiliser platform, creating a world-leading joint venture. The combined company, which has been named Fertiglobe and is headquartered in the international financial centre Abu Dhabi […]

Iraq blames Israel for attack on Shiite militias

Iraqi Prime Minister Adel Abdul Mahdi has accused Israel of being behind attacks on Iranian-backed militia positions in Iraq, the first time Baghdad has directly blamed Israel, Al Jazeera television reported on Monday. “Investigations into the targeting of some Popular Mobilisation Forces positions indicate that Israel carried it out,” Al Jazeera quoted Abdul Mahdi as […]

Aramco agrees to pay $75 billion as base dividend

State-owned Saudi Aramco plans to pay a base dividend of $75 billion in 2020, it said in a corporate overview posted on its website on Monday. Oil giant Aramco is getting ready for an initial public offering, possibly later this year. Source: Reuters

In bold move Houthis release detainees unilaterally

Yemen’s Iran-aligned Houthi group on Monday released hundreds of Yemeni prisoners in a unilateral move welcomed by the United Nations envoy, who hoped it would lead to further progress on an agreed prisoner exchange deal. The International Committee of the Red Cross (ICRC), which facilitated the release, said 290 Yemeni nationals were transferred from the […]

Saudi Arabia inching closer to Russia

In the two weeks since attacks blamed on missiles or drones shut down half of Saudi Arabia’s oil output, the country that has arguably moved most deftly to position itself for any upside is Russia. Within hours of the attacks, Moscow’s state arms exporter said it would hold talks with countries in the Middle East […]

Settlers Established 18 New Outposts, Encouraged by Trump Administration

The National Bureau for Defending Land and Resisting Settlements said in his latest weekly report , that the southern areas of Hebron are subjected to extensive settlement acts as the Israeli Occupation Authorities announced the seizure of about populated 1500 dunums located within the borders of the Dura Municipality, south of Hebron, planted with olive […]

Abu Dhabi National Energy Company issuing $500 million senior unsecured notes

Abu Dhabi National Energy Company, TAQA, announced that it has finalised the issuance of USD $500 million senior unsecured notes due in October 2049. In a disclosure to Abu Dhabi Securities Exchange, ADX, the company said the bonds will carry a coupon and re-offer yield to maturity of 4.000 percent. ''The proceeds of the offering […]

Dubai hosting Solar Asset Management MENA Conference

Dubai will play host to the Solar Asset Management MENA Conference, the biggest gathering of solar industry stakeholders which will take place on 17-18 November. A massive $15bn worth of solar projects are expected to be operational in the next five years in the Middle East while the current solar power market in MENA is […]

Beginning of Arab Knowledge Forum for Sustainable Development

The autumn edition of the Arab Knowledge Forum for Sustainable Development began today, under the title, "Preserving our Land, Discovering our Talents," and with the participation of 800 students from national universities. The forum is being held under the patronage, and in attendance of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, Chairman of […]

UAE, Russia in scientific-industrial talks

Moscow has hosted the second meeting of the UAE-Russian Industrial, Technological and Scientific Cooperation Team. The meeting was chaired by Dr. Mattar Hamed Al Niyadi, Under-Secretary of the Ministry of Energy and Industry, and Alexei Vladimirovic, Deputy Minister of Industry and Commerce of Russia. During the meeting, both sides highlighted the importance of the ongoing […]

Protests break out in Lebanon

Protesters blocked roads across Lebanon on Sunday in demonstrations against deteriorating conditions in a country grappling with an economic and financial crisis. Tires were set ablaze on several major roads in Beirut, paralyzing the capital. Several hundred people chanted “Down with capitalism” and “Leave!” as they marched along a main road near parliament amid heightened […]

Fire breaks out at Jeddah railyway station

A fire broke out in the Haramain high-speed rail station in Saudi Arabia’s coastal city of Jeddah, injuring at least five people, the authorities said on Sunday. Plumes of black smoke were still rising from the roof of the station at least four hours after the fire broke out at 12.35 p.m. (0935 GMT), Al-Ekhbariya […]

Royal Saudi bodyguard killed in personal row

The long-time personal bodyguard of Saudi Arabia’s King Salman was shot dead by a friend while at a private residence in the western city of Jeddah, in what the state broadcaster described as “a personal dispute”. State media did not give details about the row that sparked the shooting on Saturday night of Major General […]

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