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Saudi Salic acquires 29.81 per cent in India’s Agri Business Fund

Saudi Arabia’s Agricultural and Livestock Investment Company, Salic, has acquired 29.81 per cent of Daawat Foods Ltd (DFL) from the India Agri Business Fund. The acquisition is in line with the Saudi investment company’s strategy to invest in rice, the aim being to strengthen the rice supply chain and make it more efficient and robust. […]

May 25th, 2020 | Posted in Finance,Gulf News,Headlines,World News | Read More »

Palestinian Authority rejects UAE medical aid shipped through Israel

The Palestinian Authority (PA) in the West Bank has declined tons of medical aid provided by UAE to help fight covid-19, arguing it was not informed about the shipment that was sent through Israel, The New Arab reports. PA health ministry in a statement Thursday said the aid was sent without coordination. “UAE aid arrived […]

May 22nd, 2020 | Posted in Gulf News,Headlines,World News | Read More »

Khashoggis pardon murderers of their father

The family of prominent Saudi journalist Jamal Khashoggi killed in the kingdom’s consulate in Istanbul in 2018 said they have forgiven murderers of their father, Anadolu News agency reports. “On this blessed night of the blessed month (of #Ramadan), we remember God’s saying: ‘If a person forgives and makes reconciliation, his reward is due from […]

May 22nd, 2020 | Posted in Gulf News,Headlines,World News | Read More »

Etisalat appoints Hatem Dowidar as interim CEO

Emirati telecom group Etisalat Group Wednesday appointed Hatem Dowidar as Acting Chief Executive Officer after Saleh Al Abdooli resigned from his role as CEO. Abdooli, according to the group, submitted his resignation citing personal reasons. He had been with telecom giant for 28 years. The board of directors picked Dowidar who until his new appointment […]

May 20th, 2020 | Posted in Gulf News,Headlines | Read More »

Oman cuts salaries by 23 per cent amid cut in oil revenues and covid-19 pandemic

The Civil Service Council of the Sultanate has cut by 23 per cent the salaries of the new civil servants as Gulf country implement austerity measures as result of slimming oil revenues and effects of novel covid-19 disease. The council in a statement said a PhD holder’s entry level salary would be reduced 23 percent […]

May 19th, 2020 | Posted in Gulf News,Headlines | Read More »

Lufthansa schedules resumption of Dubai – Frankfurt flights early June

Germany’s national carrier, Lufthansa, has announced resumption of flights from Dubai to Frankfurt for June 7, Arabia Business reports. “People want to and can travel again, whether on holiday or for business reasons. That is why we will continue to expand our offer step by step in the coming months and connect Europe with each […]

May 18th, 2020 | Posted in Gulf News,Headlines,World News | Read More »

Iran debunks alleged deal with Russia to remove Syria’s Assad

A senior Iranian official Sunday rejected reports claiming that Iran and Russia agreed to remove Syria’s President Bashar al-Assad, saying it is a lie by the US. Hossein Amir-Abdollahian, a senior adviser to Iran’s parliament speaker in a tweet said Assad is “the legitimate president of Syria.” “Report of a deal between Iran and Russia […]

May 18th, 2020 | Posted in Gulf News,Headlines,World News | Read More »

Prominent Kuwait business tycoon injects $18 million in Gulf Cable & Electrical Industries Company

Mohammad Charchafchi, Kuwait’s most prominent businessman has injected $18 million in Gulf Cable & Electrical Industries Company becoming therefore major shareholder, reports say. The investment gives Charchafchi five per cent of the company controlled by Bader Nasser Al Kharafi, the lead investor. “The investment was a result of a comprehensive study of all aspects of […]

May 13th, 2020 | Posted in Gulf News,Headlines | Read More »

Etihad Airways sacks staffs to weather covid-19 fallout

Abu Dhabi-based state-run Etihad Airways has announced redundancies as the airline strives to remain afloat in face of covid-19 adverse impacts. Etihad did not communicate how many employees have been laid off and which departments have been affected but Middle East Monitor understands that during a previously unreported US-UAE Business Council webinar on April 29, […]

May 12th, 2020 | Posted in Gulf News,Headlines | Read More »

Saudi Arabia triples VAT as part of austerity measures

Saudi finance ministry announced Monday the kingdom the value added tax (VAT) rate will increase from 5 % to 15 % from July 1 as part of austerity measures taken to prop up the economy hit by the impacts of low global oil price and covid-19 pandemic. In addition to the three-fold increase in the […]

May 11th, 2020 | Posted in Finance,Gulf News,Headlines | Read More »