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Browsing: United Arab Emirates
- Kenyan imports from Saudi Arabia grew three fold to $228 million in March on increased orders of diesel.
- This was the highest import value compared to China’s ($217 million), India’s ($194 million) and the UAE’s ($99 million).
- Kenya is using a new procurement system designed to cut pressure on forex demand by adopting 180-day credit from payment on delivery.
Saudi Arabia is currently Kenya’s largest source of imports, underscoring the significance of recent oil import deal according to data by the Kenya National Bureau of Statistics (KNBS).
The Middle Eastern country overtook China, India and the United Arab Emirates (UAE) to become Kenya’s biggest single import market for the first time, driven by increased diesel orders.
KNBS data shows that goods imported from Saudi Arabia grew three fold to $228 million in March on increased orders of diesel from $60 million a month earlier.
This was the highest import value …
- UAE Minister of Tolerance and Coexistence H.E. Sheikh Nahyan bin Mubarak Al Nahyan cites the nation’s unique standing in fostering tolerance and coexistence globally.
- UAE is one of the most religiously, politically, and socially diverse countries in the world making it ideal to invest in.
- The UAE has always provided a tolerant and safe society with quality education, enabling families to live peacefully and work together without fear of violence.
The 12th edition of the Annual Investment Meeting (AIM) featured a highly impactful session on tolerance and coexistence. The highlight was the signing of MoUs between six nations and the UAE to promote the values of tolerance and coexistence.
H.E. Sheikh Nahyan bin Mubarak Al Nahyan, the UAE Minister of Tolerance and Coexistence highlighted the country’s unique standing globally in creating a society of tolerance and coexistence.
Socially diverse country in the world
H.E. Sheikh Nahyan bin Mubarak Al Nahyan …
- The Annual Investment Meeting and Emirates Angel Investors Association agree to turn UAE into a thriving base for startups.
- The collaboration is expected to create a positive impact on the United Arab Emirates’ startup ecosystem.
- The partnership will link startups with a wide network of investors, as well as the necessary resources and mentorship.
The Annual Investment Meeting (AIM) and Emirates Angel Investors Association (EAIA) have joined forces to strengthen their efforts towards promoting startups. The collaboration between AIM and EAIA is expected to create a positive impact on the United Arab Emirates’ startup ecosystem. The UAE has been a fertile base for establishment and growth of startups.
The partnership will provide startups with access to a wide network of investors. Benefitting entrepreneurs will also access necessary resources and mentorship to help them grow and succeed.
Commenting on the partnership, Director General of AIM Walid A. Farghal said, “The purpose …
In June 2022, the International Air Transport Association (IATA) revealed that Nigeria had not handed over US$ 450 million owed to different airlines. By July 2022, the money owed to foreign airlines had risen by US$14 million to US$464 million.
The funds were generated from ticket sales but were yet to be remitted, leading to friction between Nigerian authorities and international airlines.
The Nigerian federal government attributed the mess to the foreign exchange crisis as the naira continues to weaken against the dollar. IATA asked the West African country to release the funds’ failure, to which it risks being alienated from air connectivity.…
- In 2020, the capital investment in the renewable energy sector was at US$8.72 billion, outshining oil and gas for the first time
- Despite the damage caused to the climate, gas and oil are at the core of the energy sector, which is concerning
- The United Arab Emirates (UAE) topped in the Middle East, attracting foreign direct investment (FDI) in renewable energy close to US$2.4 billion in 2020
One of the conclusions of the 26th United Nations Climate Change Conference, which was held in Glasgow, Scotland, is that the climate change effect caused by fossil fuels on the earth might be irreversible by 2030.
The COP 26 conference emphasized the cutting down subsidies granted for coal and fossil fuels to low- and middle-income countries. However, there is no amicable consensus arrived on the above emphasis.
It appears that global financial firms are reluctant to curtail the direct and indirect financing of …