Author: Fallurkuk

KUALA LUMPUR: Malaysia wants deeper economic ties with the UAE, especially in the tech and renewable energy sectors, the Southeast Asian nation’s international trade minister said, as the two sides continue their negotiations of a free trade deal. The UAE and Malaysia agreed to begin talks in May, during a visit to Kuala Lumpur by a UAE ministerial delegation led by Sheikh Khaled bin Mohamed bin Zayed Al-Nahyan, the crown prince of Abu Dhabi. The terms of reference for the agreement were finalized and signed last month, Malaysia’s International Trade and Industry Minister Tengku Zafrul Aziz told Arab News on…

The Ministry of Finance and the Kuwait Investment Authority (KIA) will be responsible for making the required feasibility studies for the fund, which is expected to come under the name Ciyada Kuwait prepares to launch a state-owned sovereign fund to grow its local economy, finance megaprojects, and diversify its investment spectrum from foreign investors as well as the private sector, Reuters recently cited a government plan. The Ministry of Finance and the Kuwait Investment Authority (KIA) will be responsible for making the required feasibility studies for the fund, which is expected to come under the name Ciyada. The KIA, the…

Emirati employment in private sector goes up by 57 per cent The Ministry of Human Resources and Emiratisation (MoHRE) has reported significant progress in Emiratisation efforts within the private sector, marking a substantial increase in the number of Emiratis employed in skilled positions. The half-year figures show an achievement beyond the set Emiratisation target of a 1 per cent increase, demonstrating the ongoing commitment of private sector companies to this vital initiative. By the end of the first half of 2023, around 79,000 Emirati citizens had secured positions within the private sector, marking a remarkable 57% increase from figures recorded…

The Island, located 160km Northwest of Abu Dhabi, is a critical part of the UAE’s infrastructure and central to Adnoc’s ambitious gas growth plans Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, visited Das Island to lay the cornerstone of a new hospital and residential complex. The infrastructure expansion marks an important milestone in Adnoc’s low-carbon growth strategy as the company accelerates its efforts to deliver the maximum energy safely and sustainably with minimum emissions the world needs. Sheikh Hamdan bin Zayed, said: “I am proud to see the tangible progress Adnoc is making to build…

The UAE Cabinet has approved the first preliminary national licence for self-driving cars, granting it to Chinese company WeRide, as part of efforts to transform the country’s transport sector and move towards a future economy. WeRide will begin testing all types of autonomous vehicles on UAE roads. “This is the first national-level autonomous driving licence in the Middle East and even globally,” WeRide said in a statement. “WeRide has been actively expanding its autonomous driving products and services internationally, with the Middle East being one of its key focus areas,” it said. Before receiving the licence, WeRide’s Robotaxi had already completed public testing and operations…

In a new achievement that reinforces its domestic and international leadership, Global Finance has named Boubyan Bank the “World’s Best Islamic Retail Bank” for 2023 upon announcing its awards for banks in Kuwait, the region, and globally. This highlights the constant efforts of the bank towards improving its banking services. On this occasion, Mr. Abdullah Al-Mejhem, Boubyan Bank’s Chief Private Banking and Chief Consumer Banking expressed that he took pride in such international recognitions of the bank, which crowned the bank’s efforts to move forward, and its ceaseless efforts to invest in what ensured the best banking services, especially digital…

The US and Kuwait have a “lasting bond of friendship and loyalty,” Kuwait Ambassador to the US Sheikha AI-Zain Al-Sabah said as Washington marked National Memorial Day. Kuwait News Agency reported on Tuesday that Al-Sabah expressed her “pleasure to be given the opportunity to represent my country” in a ceremony to honor the sacrifices of the US Armed Forces as she addressed the National Memorial Day Parade. “I stand before you today, representing the good people of my nation and reaffirming that we will never forget the human stories of service and sacrifice as exemplified by the brave men and…

The start of the third section of Kuwait’s Al-Zour refinery was pushed back to the end of the summer after a technical glitch forced the facility to halt last month, the chief executive officer of Kuwait Petroleum Corp. said in an interview. Comprising three mini refineries, Al-Zour is one of the biggest oil-processing facilities being added across the Middle East and, once completed, will add 615,000 barrels a day to Kuwait’s refining capacity. The third line was penciled in to be up and running by June. The state-owned company is currently operating the first two of three sections at Al-Zour,…

RIYADH: Saudi Arabia and Uganda signed a new agreement to employ domestic workers from the African country, with an aim to ensure continued labor cooperation. The agreement, which was signed by Saudi Minister of Human Resources and Social Development Eng. Ahmed bin Sulaiman Al-Rajhi and Uganda’s Minister for Gender, Labor and Social Development Betty Amongi, is the result of intensive meetings between the two sides. This is part of a common goal to protect the rights of domestic workers and business owners and regulate the contractual relationship among them. The joint agreement between the two sides had been institutionalized following the signing of the labor agreement in 2017 aimed at promoting the welfare…

This is stated in an extract from the system of registers of shareholders The share of businessman Kenes Rakishev in the Fincraft investment house decreased to 9.9%. This is stated in an extract from the system of registers of shareholders of Fincraft Investment House JSC as of March 7, 2023, posted on the website of the Kazakhstan Stock Exchange (KASE), the correspondent of the Kapital.kz business information center reports. According to KASE, as of January 1, 2023, the share of businessman Kenes Rakishev in the company was 40%. According to this extract of shareholders, the total number of declared ordinary shares of the…