Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
‘UAE strengthens Gaza support with humanitarian aid’
“The activation of the maritime corridor is crucial. It will serve as an essential lifeline for the people of Gaza,...
Geostrategy
Economy
‘UAE deals with around 50,000 cyberattacks daily’
"These proactive efforts play a vital role in protecting the country's digital sphere and ensuring a secure environment for critical...
- The UAE Cyber Security Council collaborates with partners to deter over 50,000 cyberattacks daily targeting critical national sectors, says its head
- Banking, financial, health, oil, and gas sectors are frequently targeted, but attacks are efficiently countered to safeguard the UAE's digital sphere
GCC central banks align rates with US Fed Reserve
The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response...
- The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate
- Saudi Arabia's SAMA has increased its Repo rate to 5.75% and Reverse Repo to 5.25%, while the CBUAE has raised its ODF from 4.90% to 5.15%, effective from May 4, 2023
Economy
MENA region’s growth may decelerate this year: IMF
Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour,...
- Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour, Director of IMF's Middle East and Central Asia Department
- Growth in the region's emerging markets is also expected to fall from 5.1% in 2022 to 3.4% in 2023 due to tighter monetary and fiscal policies, suggests the latest IMF report
Business
Book industry needs to focus more on sustainability
She was highlighting key industry challenges such as environmental pressures and rising costs, during the opening of the Sharjah International...
- Prominent booksellers, publishers, and experts from 69 countries participate in Sharjah International Booksellers Conference, which facilitates discussions on industry trends
- Sustainability, generative AI, industry transformation remain prime focus of the discussion as Sharjah emphasizes the importance of collaboration and effective communication
Business
Investors set to boost allocations to gold, miners
Rallying of gold prices and growing concern about a potential global banking crisis are seen as key reasons for the...
- Rallying of gold prices and growing concern about a potential global banking crisis are seen as key reasons for the increased allocations, says a latest global report
- Gold and gold mining stocks are likely to make up 6 percent or higher of core holdings, believe 60% investors, adds Tresor Gold, a data-driven gold mining company
Economy
IEA’s call to halt oil investments will hurt market
His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output...
- OPEC Secretary General Haitham Al Ghais has cautioned IEA against discouraging oil investments crucial for global economic growth
- Russia's Deputy PM Alexander Novak says the OPEC+ group, comprising leading oil producers, sees no need for further output cuts
Science
UAE’s Sultan AlNeyadi achieves groundbreaking milestone as first Arab to perform spacewalk
The mission objectives included crucial tasks such as routing power cables and retrieving a Radio Frequency Group unit, contributing to...
- The mission objectives included crucial tasks such as routing power cables and retrieving a Radio Frequency Group unit, contributing to the station's operational capabilities
- Prior to Sultan AlNeyadi's spacewalk during Expedition 69, thorough safety checks were conducted to address challenges such as radiation, extreme temperatures, and space debris
Economy
Gulf countries build on unprecedented megaprojects
Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States,...
- Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States, a latest report highlights
- The first construction megaproject with a cost exceeding $1 trillion is expected to emerge by the end of the decade, the latest 1Build report points out
Science
UAE stays hopeful even as Rashid Rover, other payloads miss chance to explore moon
Despite the unsuccessful lunar landing of HAKUTO-R Mission 1, the Mohammed Bin Rashid Space Centre (MBRSC) remains optimistic about future...
- Despite the unsuccessful lunar landing of HAKUTO-R Mission 1, the Mohammed Bin Rashid Space Centre remains optimistic about future space endeavors
- The UAE's space center praises mission partner ispace for their efforts and expresses gratitude to the French space agency, CNES, for their contributions
Economy
‘Sustainable supply chains, global ties crucial’
The Gulf country has introduced several initiatives to support and promote international economic partnerships, including the comprehensive economic partnership agreements...
- The UAE aims to promote global economic cooperation and enhance openness to the world, says its Economy Minister Abdullah Bin Touq Al Marri
- The Gulf country focuses on creating investment opportunities in new economy sectors and supporting sustainable supply chains, the minister adds
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Company News
Latest News
Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...
Economy
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
COP28 UAE
UNGA strongly endorses ceasefire in Gaza conflict
The UN General Assembly passes a resolution demanding an immediate ceasefire in Gaza, highlighting the Security Council's inaction and putting...
Most Read
Presight AI, Samruk-Kazyna launch JV
The partnership aims to accelerate digital transformation in Kazakhstan.
- Revealed at COP28, the venture aims to deploy advanced AI and big data solutions.
- Energy, public services, and transport in Kazakhstan to benefit from big data analytics.
Geostrategy
ICC pledges to intensify war crime investigations in Israel and Gaza
ICC Chief Prosecutor Karim Khan has vowed to ramp up efforts in investigating war crimes in the Israeli-Palestinian conflict, highlighting...
- ICC stresses the need for adherence to international humanitarian law despite conflict complexities.
- Both Hamas and Israel face the possibility of war crime charges, according to legal experts.
COP28 UAE
$656 million committed to Loss & Damage Fund so far
The fund will be housed in the World Bank for four years, a decision accepted by developing nations despite concerns...
- The fund signifies a pivotal moment in climate diplomacy, reflecting a growing acknowledgment of the need for tangible support for those most vulnerable to climate change.
- This initiative by the UAE and Germany at COP28 marks a new era of responsibility and cooperation among nations, setting a hopeful tone for the remainder of the conference.