Hosting the conversation

Middle East Experience

Latest News

Saudi Arabia’s SAMI announces joint venture with Boeing

Saudi Arabian Military Industries (SAMI) has announced a preliminary agreement with Boeing to enter into a Saudi Arabia-focused joint venture, SAMI said in a press statement posted on the company website on Sunday.For the latest headlines, follow our Google News channel online or via the app.The partnership was signed during the World Defense Show in Riyadh in March, SAMI said.“As we move towards the realization of our Vision 2030 ambitions for a strengthened defense industry, our long-standing relations with industry leaders such as Boeing will further our success,” said Walid Abukhaled, SAMI CEO.“Much of this work is currently outsourced to the US or Europe, while aircraft numbers in the Kingdom are expected to double in the next ten years.“We also see this joint venture as a first step towards a broader strategic partnership between Boeing and SAMI that will encompass additional platforms and services in the future.”Torbjorn Sjogren, Vice President of Boeing International Government & Defence Organization added: “We are proud of the long-standing 77-year relationship that Boeing has with the Kingdom of Saudi Arabia.“This agreement will provide maintenance, repair and overhaul services for the Kingdom’s rotorcraft platforms. It is an excellent example of our alignment with the Kingdom’s Vision 2030.“We're committed to our partnership with SAMI, and will continue to work with our stakeholders in the Kingdom to execute on Vision 2030.”Read more: Saudi Arabian Military Industries plans to produce Saudi-made droneSaudi Arabia’s first World Defense Show opens to the publicSaudi Arabia is essential pillar of regional security: Bahrain's King Hamad
Source: Al Arabiya
Full Article: Saudi Arabia’s SAMI announces joint venture with Boeing

Dubai Police claim beggar arrested with $10,890 cash

Dubai Police says it has arrested a beggar in possession of $10,890 (40,000 dirhams) worth of cash.For the latest headlines, follow our Google News channel online or via the app.The police force posted a picture on social media on Sunday purporting to show a beggar with bundles of cash of different currencies and denominations including large bundles of 500 dirham notes, as well as a variety of coins and several mobile phones.No further details about the suspect’s identity or the extent of their crimes were released.The arrest was reportedly made under the emirate’s anti-begging campaign entitled “Begging is a Wrong Concept of Compassion.”“There are official and charitable entities and authorities ready to help the needy, which we, at Dubai Police urge whomever in need of financial aid to turn to,” Colonel Ahmed al-Adidi, Acting Director of Anti-Infiltrators at the General Department of Criminal Investigation, said in a statement.Al-Adidi said that the police force’s campaign has had success in reducing the number of beggars in Dubai thanks to the strict measures police have taken.“There are people who attempt to justify their illegal behavior with their financial desperation. However, that is illegal and punishable according to Federal Law No. 9 of 2018 on anti-begging,” he added.He also urged the public to report beggars to the toll-free number 901 or through the Dubai Police app.Read more: UAE vows to take robust action against financial crime, money launderingPolice arrest thieves in Riyadh, seize 26 stolen vehicles and moneyMass brawl in Riyadh shopping district leads to nine arrests: Police
Source: Al Arabiya
Full Article: Dubai Police claim beggar arrested with ,890 cash

Cryptocurrency platform Binance granted In-Principle Approval to operate in Abu Dhabi

Abu Dhabi’s financial free zone has granted cryptocurrency platform Binance In-Principle Approval (IPA) to operate as a broker in virtual assets, United Arab Emirates state news agency WAM reported on Sunday.For the latest headlines, follow our Google News channel online or via the app.The move comes after neighboring emirate Dubai granted the company a license to conduct operations on March 16, and Bahrain’s central bank granted a license on March 15.Binance is expanding its operations in the UAE and is recruiting for more than 100 positions.The latest move brings it a step closer to operating out of the Abu Dhabi Global Market (ADGM).ADGM introduced a robust virtual asset regulatory framework in 2018 aiming to position itself as a hub for virtual business.“We are pleased that Binance has been awarded an In-Principle Approval in the ADGM, and we are excited to support them as they work towards establishing their foothold and presence in Abu Dhabi, the capital of the UAE,” Dhaher bin Dhaher al-Mheiri, Chief Executive Officer of the ADGM Registration Authority, said in a WAM statement.“ADGM is the largest regulated jurisdiction of virtual assets in Middle East And Africa (MENA) region, and Binance’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers,” he added.Richard Teng, Binance's Regional Head of MENA, added: “We are grateful for ADGM's support during our application process, and look forward to working closely with them and other key Abu Dhabi stakeholders for broader deployment of our world-class offerings and services across the whole MENA region and beyond.”With ReutersRead more: Binance steps up hiring, activity in crypto hub DubaiDubai grants crypto exchange Binance a virtual asset license for regional operationsCrypto exchange Binance signs agreement with Dubai World Trade Centre
Source: Al Arabiya
Full Article: Cryptocurrency platform Binance granted In-Principle Approval to operate in Abu Dhabi