Category: 1arabia updates

The UAE Pro League has unveiled the contenders for its prestigious "Best" monthly awards, recognizing the standout performers from the league's exciting May fixtures. Fans now have the opportunity to cast their votes and determine the champions in the categories of Best Player, Best Goalkeeper, and Best Coach. The race for Best Player is fiercely contested, featuring a trio of nominees from the newly crowned champions, Al Jazira. Goal machine Ali Mabkhout, who secured the league's top scorer title with

Mayar Holding, a Saudi Arabian industrial manufacturing company, announced plans to raise $133 million through the issuance of a sharia-compliant bond, known as a sukuk. The issuance, denominated in Saudi riyals (SAR), will target a total value of SAR 500 million, with the proceeds earmarked for funding working capital needs and capital expansion projects. Afaq Financial Company has been appointed as the financial advisor for the establishment, issuance, and offering of the sukuk program. The program will utilize a Murabaha

The United Arab Emirates (UAE) and China solidified their economic partnership by signing a series of strategic agreements during a recent visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to Beijing. These agreements aim to amplify trade between the two nations and energize China's ambitious Belt and Road Initiative (BRI). The UAE, a key player in the Middle East and North Africa (MENA) region, boasts a strategic location and a robust economy, making it a natural partner for

Amin Nasser's path to the helm of Saudi Aramco, one of the world's most valuable companies, is a story that defies tradition. Unlike his predecessors who often hailed from prestigious Western universities, Nasser's journey began within the company itself. A Saudi-educated engineer, Nasser's career with Aramco stretches back four decades. He started as a petroleum engineer, his expertise laying the foundation for his future ascent. Nasser meticulously climbed the corporate ladder, tackling ever-increasing responsibilities. A key turning point came when

Germany's national railway company, Deutsche Bahn (DB), has narrowed down the contenders vying to acquire its logistics subsidiary, Schenker, to a select group. After a rigorous selection process, four finalists have been chosen to enter the final round of bidding. These finalists represent a diverse range of industry players. Maersk, a global leader in container shipping, seeks to expand its logistics footprint. DSV, a Danish freight forwarding and logistics company, aims to solidify its position as a major competitor. Saudi

Saudi Arabia's first quarter of 2024 witnessed a significant surge in investment deals, with innovation and entrepreneurial ventures at the forefront. According to official data released by the Ministry of Investment, over half (53%) of the investment deals finalized during this period were driven by a focus on fresh ideas and business creation. This trend highlights a strategic shift in the Kingdom's investment landscape, prioritizing the development of a dynamic and future-oriented economy. The report further revealed a diversified pool

Electric vehicles are poised for a significant boost in Saudi Arabia following a memorandum of understanding (MoU) signed between Lucid Motors and the Electric Vehicle Infrastructure Company (EVIQ). This collaboration signifies a strategic alliance aimed at revolutionizing the country's EV charging landscape. The MoU paves the way for the development of a robust network of high-speed public charging stations across Saudi Arabia. This will significantly address the range anxiety that often deters potential EV buyers, making electric cars a more

The ruler of Fujairah, His Highness Sheikh Hamad bin Mohammed Al Sharqi, expressed his deepest condolences on the passing of Saeed bin Ahmed bin Khalfan Al Otaiba. Sheikh Hamad conveyed his sincere sympathies to the Al Otaiba family and the wider UAE community in a message sent on May 31, 2024. Praising Al Otaiba's lifetime of service, Sheikh Hamad recognized his significant contributions to the nation. Al Otaiba was a close confidante of the UAE's Founding Father, the late Sheikh

Saudi Arabia's housing market is experiencing a surge in demand, with the capital Riyadh witnessing a particularly strong performance. According to a report by CBRE, a global consultancy firm, residential property sales in Riyadh skyrocketed by 77% in the first quarter of 2024 compared to the same period last year. This significant growth indicates a thriving residential market in the Saudi capital. The report further highlights that other Saudi cities are also experiencing a positive trend in residential sales. Jeddah,

Buoyed by the lessons learned from the COVID-19 pandemic, the United Arab Emirates is taking steps to bolster its preparedness for future public health emergencies, according to health officials and industry experts. The UAE's proactive approach includes strengthening healthcare infrastructure, investing in research and development, and fostering international collaboration. The country's experience with COVID-19 highlighted the importance of robust healthcare systems. In response, the UAE has ramped up its capacity for testing, tracing, and treatment. This includes expanding hospital bed

The United Arab Emirates (UAE) has cracked down on online piracy, blocking over 1, 000 websites found to be illegally distributing copyrighted entertainment content. The Ministry of Economy (MoE) announced the significant rise in website suspensions on Thursday, attributing a surge in activity to the recent holy month of Ramadan. According to Dr. Abdulrahman Hassan Al Muaini, Assistant Undersecretary for Intellectual Property Rights at the MoE, the "InstaBlock" initiative, implemented specifically for Ramadan, identified and blocked a total of 1,

A green hydrogen project in Oman, being developed by a consortium of Actis, a British investment firm, and Fortescue, an Australian mining giant, has taken a significant leap forward. The project has entered the pre-front-end engineering and design (pre-FEED) stage, according to a source close to the initiative. This development comes just a month after the consortium was awarded the rights to develop, build, own, and operate the green hydrogen facility in Oman. The project was then in the feasibility

Kuwait's oil and gas sector reached a significant milestone on May 30, 2024, with the inauguration of the Al Zour Refinery by Emir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah. The ceremony, held at the Al Zour complex south of Kuwait City, marked the culmination of years of planning and construction for this mega-refinery, poised to be a game-changer for the nation's domestic oil processing capabilities. The Al Zour Refinery boasts a maximum capacity of 615, 000 barrels per day (bpd), significantly

Dubai Customs has made navigating duty-free allowances significantly easier for travelers by providing a comprehensive guide outlining what items are exempt from customs duties and taxes. This informative resource, the Passenger Customs Guide, is available on the Dubai Customs websitehttp://www. dubaicustoms. gov. ae/. The guide clarifies that passengers can bring in personal gifts worth up to AED 3, 000 without incurring any customs fees. This value limit applies to the combined worth of gifts and the passenger's personal belongings. Travelers

Asian stocks closed higher on Friday, on track for their fourth consecutive month of gains, as investors adopted a cautious stance ahead of key inflation reports from the United States and Europe. The dollar, seen as a safe haven asset during economic uncertainty, retreated slightly. The positive sentiment in Asian markets was likely fueled by bargain hunting after a volatile week, with some investors looking to capitalize on recent price dips. Additionally, hopes for a slowdown in inflation, which could

The Sudanese community in Abu Dhabi recently concluded its highly anticipated community championship, marking a culmination of weeks of competitive spirit and cultural celebration. The championship, which encompassed a variety of sporting disciplines and activities, brought together Sudanese residents from all walks of life, fostering a sense of unity and camaraderie. Football emerged as a major highlight, with teams battling it out in a knockout tournament that kept spectators on the edge of their seats. The final match saw a

The Abu Dhabi National Oil Company (ADNOC) announced a significant development in its relationship with the State Oil Company of the Azerbaijan Republic (SOCAR) on May 31st, 2024. ADNOC has awarded SOCAR a 3% participating interest in the SARB and Umm Lulu offshore concession. This strategic move strengthens the energy partnership between the United Arab Emirates (UAE) and Azerbaijan, while deepening ADNOC's ties with SOCAR across the energy sector. The SARB and Umm Lulu concession is a technologically advanced project

Motorists in the United Arab Emirates can expect to pay less at the pump this June as the country's Fuel Price Committee unveiled a decrease in petrol and diesel prices. The reduction comes after a month of relatively stable oil prices, with Brent crude averaging around $83. 5 a barrel in May, down from $88. 79 in April. The biggest price drop is for Super 98 petrol, which will see a reduction of 20 fils per litre, bringing the new

The Middle East, a region long synonymous with vast oil reserves, is witnessing a transformative shift towards renewable energy, with Saudi Arabia emerging as a surprising frontrunner. This surge is driven by several factors, including the abundance of sunshine in the region, falling solar power costs, and a growing recognition of the need to diversify economies beyond fossil fuels. Saudi Arabia boasts some of the world's most optimal conditions for solar power generation. The country receives over 2, 000 kilowatt-hours

Financial markets across the globe experienced a significant decline on Thursday, as anxieties over persistently high inflation and the possibility of continued interest rate hikes by central banks dampened investor sentiment. The decline began in Asia, where major stock indexes plunged. The MSCI broadest index of Asia-Pacific shares outside Japan fell by 1. 2%, extending losses from the previous session. Japan's Nikkei index also mirrored the downtrend, slipping 1. 3%. This negative sentiment followed Wall Street's lead, with U. S.

DOHA, Qatar (2024-05-30) - The United Arab Emirates emerged as a frontrunner for fostering collaboration amongst Gulf Cooperation Council (GCC) nations on Olympic matters during a recent meeting held in Doha. Rashed bin Humaid, President of the UAE National Olympic Committee, headed the Emirati delegation that participated in discussions with their GCC counterparts. The core objective of the meeting was to solidify cooperation and coordination between the GCC Olympic Committees on a broad range of sports-related issues and Olympic

The winners of the TII McEliece Challenges, a competition designed to test the security of a promising post-quantum cryptography system, have been revealed. Launched by the Technology Innovation Institute (TII) in Abu Dhabi, the challenges invited participants to break various cryptographic puzzles based on the McEliece cryptosystem. This system is considered a frontrunner in the race to develop encryption methods secure against the growing threat of quantum computers. The challenges were divided into three tracks, each focusing on different aspects

The United Arab Emirates' General Civil Aviation Authority (GCAA) and the International Civil Aviation Organization (ICAO) have signed a momentous agreement to cultivate the next generation of aviation professionals. This strategic partnership, solidified through a Memorandum of Understanding (MoU), signifies a collaborative effort to address the industry's growing need for skilled personnel. The MoU outlines a three-pronged approach to empower future aviation leaders. Firstly, the GCAA and ICAO will work together to craft targeted programs, initiatives, and educational opportunities. This

Fitbit is making a splash in the kid-tech market with the launch of the Ace LTE, a smartwatch that combines fitness tracking with interactive features designed to get children moving. Borrowing elements from popular gaming consoles and virtual pets, the Ace LTE aims to transform exercise into an engaging adventure. Targeted at children aged seven and above, the Ace LTE ditches the traditional approach of presenting raw fitness data. Instead, it focuses on "gamification, " rewarding physical activity with progress