5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
Geostrategy
AD Ports, RSPA to develop and operate terminal in Egypt’s Safaga Port
Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA)...
Business
Business
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
- The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com.
- The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022 such as the percentage of expatriate workforce.
Business
Vietnam’s VNG files for US IPO
VNG operates music streaming, mobile payment and online games.
- Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
- VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.
Business
Iran-China trade down 11 percent to $8.5 bn in seven months
Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...
- China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs) and spark ignition engines.
- China top imports from Iran are ethylene polymers, refined copper, raw aluminum, Iron ore and acyclic alcohols.
Geostrategy
Russia’s goal is to end war West unleashed in Ukraine: Putin
Johannesburg, South Africa -- Russia's special military operation pursues the goal of ending the war in Ukraine unleashed by a...
- Russia has decided to support the people who are fighting for their culture, for their traditions, for their language and for their future.
- He said it was the wish of a number of Western countries to preserve their hegemony in the world that "has led to the grave crisis in Ukraine."
Business
One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
- Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
- Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.
Business
GCC top export market for Dubai Chamber of Commerce members
Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...
- Saudi Arabia was named the top destination for members' exports, with the total value recording year-over-year growth of more than 15 percent to reach AED35 billion.
- Members' exports to Kuwait during H1 2023 were valued at AED12.8 billion, while exports to Qatar grew by 39.3 percent.
Business
Ajman H1 real estate transactions increase by 15 percent to $1.95bn
Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...
- Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
- May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totaling AED1.9 billion.
Business
Iran exports non-oil products worth $2.9bn to Iraq in four months
Tehran, Iran -- Iran exported $2.9 billion worth of non-oil products to Iraq in the first four months of the...
- Director General of the TPOI for West Asian Affairs Farzad Piltan said Iran exported $541 million worth of products to Iraq in 2022.
- It is predicted that Iran’s export of non-oil products to Iraq will reach $10.5 billion by the end of the current year (March 20, 2024).
Business
DGCX waives fees for Shari’ah compliant Spot Gold Contract
Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees...
- DGCX will waive the fee until 31 December 2023. This fee waiver excludes the SCA fee of $0.03.
- The Exchange is also seeking approval from SCA to waive fees for its Gold Futures contract.
Business
Saudi Arabia accedes to United Nations’ CISG convention
Riyadh, Saudi Arabia -- Saudi Arabia has officially acceded to the United Nations Convention on Contracts for the International Sale...
- Saudi Arabia became the 96th State Party to the Convention. The Convention will enter into force for Saudi Arabia, except for its part III, on 1 September 2024.
- The CISG establishes a comprehensive code of legal rules governing the formation of contracts for the international sale of goods and the obligations of the buyer and seller.
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5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
Geostrategy
Company News
Burgan Bank Sells 52% stake
Business
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ADNOC Drilling, Alpha Dhabi set up JV
Geostrategy
International migration flows to OECD countries at record highs in 2022
Paris, UAE -- Permanent migration to OECD countries reached 6.1 million in 2022, a 26 percent increase compared with 2021,...
Geostrategy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
Economy
Dubai records weeklong real estate deals worth $2.45 billion
Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...
Business
Most Read
Business
$9.9bn transport investments boost Qatar’s logistics efficiency
Dubai, UAE -- Qatar Chamber has underscored Qatar's significant strides in the transport sector, positioning the nation as a formidable...
- With over 2 billion people residing within 3000 kilometers range of Qatar, the country boasts easy access to Hamad International Airport and the globally acclaimed Hamad Port
- Hamad Port, with over 15 direct shipping lines connecting to 40 ports across three continents, has an annual capacity of 7 million tons.
Business
Saudi oil and non-oil exports fall by above 17 percent in Sept
Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly...
- The share of oil exports in total exports increased from 80 percent in September 2022 to 80.1 percent in September 2023.
- Imports also decreased compared to August 2023 by SAR 9.6 billion or 13.7 percent, according to data by GASTAT.
Business
43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
- The report also details that 40 percent of people in Saudi Arabia expect to receive more cross-border payments in the next year.
- Notably, 88 percent of SMEs say they use an app to make cross-border payments — the second highest percentage across the markets surveyed.