News

  Abu Dhabi / Emirates Business Abu Dhabi Ports and Agthia Group PJSC signed a lease agreement aimed at expanding the Group’s existing ‘Grand Mills Flour and Animal Feed’ facilities at Zayed Port. The new agreement was signed by Captain Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports and Iqbal Hamzah, Chief Executive Officer of Agthia Group ...

  Dubai / Emirates Business Dubai Airport Freezone Authority (DAFZA) recently concluded a seminar in Singapore, considered one of Asia’s top financial centers, to sustain key efforts to attract local investors to Dubai and build robust ties with the Southeast Asian country’s growing business community. Held in collaboration with the Singapore Business Federation, the seminar featured DAFZA’s wealth of incentives ...

  Sunaina Rana / Emirates Business Fluctuating oil prices have triggered diversification in the UAE market. However, the Economist Intelligence Unit (EIU) forecasts real GDP growth in the UAE to an average 3.6 percent per annum between 2015 and 2019, marking a decline from the 4.6 percent growth experienced in 2014. The Deloitte’s ‘Real Estate Middle East’ report predicts that ...

  RITIKA SHARMA / Emirates Business Islamic Economy is considered not just the fastest growing segment of global economy, but it is also being seen as a novel sector for developed economies to invest in. Experts believe that the Islamic Economy can find solutions for modern world’s problems ranging from income disparities to other plights that have led to several ...

  ABU DHABI / Emirates Business The General Secretariat of the Supreme Legislation Committee (SLC) is celebrating the Holy Month of Ramadan with a series of interactive charitable and humanitarian activities reflecting the values of affability, compassion, and deep sympathy as taught by the virtuous Islam. The SLC, represented by the Innovation and Creativity Team, took part in the “Reading ...

  Muscat / Reuters Petroleum Development Oman (PDO), the country’s top oil and gas exploration and production company, has obtained a $4 billion loan from international banks, part of a rush of foreign borrowing by Oman as low oil prices strain state finances. The five-year pre-export facility is the company’s first international loan and was priced at 160 basis points ...

  Riyadh / TNS The new Balanced Nitaqat program will help reduce unemployment, improve market performance, raise the quality of employment and generate good jobs for Saudis, create a safe and attractive work environment, and eliminate the presence of non-product nationalization practices, confirmed Deputy Minister of Labor and Social Development Ahmed Al-Humaidan during a press conference on Sunday. “The labor ...

  TNS Five cities will compete for the title of Jordan’s “distinctive destination” in a competition launched recently by the Tourism Ministry and USAID. “Through the Distinctive Destinations Programme we seek to encourage Jordanian towns to capitalise on their core strengths, unique characteristics and assets to improve their tourism offerings,” Tourism Minister Lina Annab said. Speaking at the launch of ...

MAKKAH / TNS The Council of Ministers during their weekly meeting on Monday thanked Custodian of the Two Holy Mosques King Salman for launching a number of new development projects worth over SR4 billion in Madinah, referring to health, education, water and sanitation projects; and for ordering an extra SR1,691 for all the country’s beneficiaries of social aid. The Cabinet ...

  DOHA / Reuters Total has won a 30 percent stake in a new 25-year contract to operate Qatar’s largest offshore oilfield, officials said on Monday, in the second major upstream development deal for the French oil firm in the Gulf region in as many years. State-owned Qatar Petroleum (QP) will keep the remaining 70 percent in the new joint ...