Leading News Source For Middle East
Roman Catholic Church in Bahrain held Sunday the first mass in the Gulf country, few days after inauguration of largest cathedral in the region. Father Saji Thomas led the Mass in “Our Lady of Arabia” church, which is located 20 Read more
First Abu Dhabi Bank-Egypt is set to complete the acquisition of Bank Audi-Egypt in collaboration with the Arab country’s Central Bank of Egypt (CBE), Arab Finance reports. FAB and Bank Audi agreed in January this year for a merge with Read more
Turkey will reinforce 3,000 personnel from riot police units to Qatar in view of beefing up security during FIFA World Cup to be staged in the Gulf country, Minister Süleyman Soylu announced Thursday, according to Daily Sabah. “The discussions were Read more
US President Joe Biden said democracy needed “champions”, including in the United States, as he opened a virtual summit of some 100 countries on Thursday, the choice of which has provoked much debate. He said from the White House that Read more
UAE and Abu Dhabi investment fund, Mubadala Investment Company has acquired 1.9 per cent of Sibur; Russia’s largest integrated petrochemicals company, Zawya reports. The fund did not provide details on the operation, but the investment is the fund’s largest in Read more
The Royal Saudi Air Force (RSAF) and the US Air Force launched a bilateral exercise, Arab News reports, citing the Saudi Defense Ministry. The exercise dubbed ACE, was launched at King Faisal Air Base in the Northern Sector and King Read more
Munich-headquartered Kempinski Hotels will open in Dubai in 2023, the world’s first floating hotel complex with 12 luxury villas grouped with the possibility to sail to other anchorages at times, Trade Arabia reports. Dubbed Kempinski Floating Palace will be established Read more
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) is selling a 5.01 percent stake–amounting to 100.2 million shares–in Saudi Telecom Co. in a secondary share offering, Zawya reports. The final offer price will be announced on December 10, Read more
Europe’s biggest gas pipeline group Snam has acquired a 25% stake in East Mediterranean Gas Company (EMG), which owns a pipeline between Israel and Egypt, marking its entrance into a high gas demand area, Reuters reports. Snam will invest $50 Read more
General Motors Co and its Egypt dealer Al Mansour Automotive Co ink have signed to study joint manufacturing of electric vehicles in Egypt and, once finished, ask the government for support, Zawya reports citing Mansour Automotive Chairman Mohamed Mansour. Both Read more