Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
Geostrategy
Science
Saudi Crown Prince meets astronauts prior to their space trip
Jeddah, Saudi Arabia - Saudi Crown Prince Mohammed bin Salman bin Abdulaziz on Monday met the Saudi astronauts: Rayana Bernawi,...
- The Crown Prince noted that the Saudi people see Rayana Bernawi and Ali Al-Qarni as ambassadors of the kingdom at the ISS
- He also underlined the importance of the space sector as a major pillar in enhancing the kingdom’s global competitiveness
Business
DEWA wins Hydrogen Project of the Year Award for green transition
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for...
- Hydrogen Project Award was part of the Hydrogen Future Awards 2023, organized during the Connecting Green Hydrogen MENA" Conference in Dubai.
- This award recognizes leaders from international energy corporations who made key contributions to the growth of the clean energy industry.
Geostrategy
Iraq invites Turkey, Iran to discuss water share issue
BAGHDAD, IRAQ - Iraq's Minister of Water Resources Aoun Diab said on Sunday that the releases of the Tigris River...
- Iraq's Minister of Water Resources said that an invitation was extended to the Iranian Minister of Energy to attend the third Baghdad Water Conference.
- Iraq invited the Turkish delegation for the purpose of continuing discussions on activating the memorandum of understanding signed between the two countries.
Economy
Iraqi government plans to reduce economy’s dependence on oil
BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...
- The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
- The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Economy
UAE has invested $5bn dollars in Brazil: UAE minister
Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in...
- The two countries, have maintained a fruitful cooperation across many sectors such as industry, transportation, shipping, storage, infrastructure, etc
- The UAE is Brazil's top trading partner in the Arab region, while Brazil is one of the Emirates' most important and recognized partners in Latin America.
Empowering women can drive economic growth in GCC region
Many countries in the region have invested in education and provided better access to technology-related fields, resulting in women graduating...
- Many countries in the MENA region have invested in women's education and provided better access to technology-related fields
- This trend has resulted in women playing a significant role in high-profile tech projects in the region, such as the UAE's Mars Hope probe
Economy
Dubai issues law regulating operations of autonomous vehicles
Dubai, UAE - Dubai has issued a law to regulate the operations of autonomous vehicles in the city. The new...
- The law outlines the responsibilities of the Roads and Transport Authority (RTA) in regulating the sector
- The Authority is responsible for demarcating the roads, areas, and routes that autonomous vehicles operate in
Economy
Saudi inflation eases to 2.7% in March: official data
Riyadh, Saudi Arabia - Saudi Arabia's annual inflation rate dropped to 2.7 percent in March from 3 percent in February,...
- Housing, water, electricity, gas, and other fuels rose by 7.4% from the previous year, with overall rents for housing increasing by 8.7%
- Experts predict a decelerating trend in inflation in Saudi Arabia over the coming months due to easing global supply-side costs
Economy
300 UAE companies operating in Egypt, more investment likely
Abu Dhabi, UAE - Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, retail, oil and gas,...
- Al Jarwan said that the two countries also aim to increase the investment to $35 billion over the next decade.
- Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, and other areas
Science
No climate action is possible without climate finance
Dr Al Jaber noted that climate finance is essential for each workstream of the Paris Agreement, from mitigation to adaptation,...
- Dr Al Jaber emphasised the need to increase the affordability, availability, and accessibility of climate finance to accelerate climate action and a just energy transition
- He noted that climate finance is essential for each workstream of the Paris Agreement, and that these resources are particularly needed in Global South
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Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
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Infracorp logs $29.8m profit
Business
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy
Egypt denies suspending navigation through Suez Canal
Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the...
Geostrategy
Saudi Arabia announces operational start of this year’s Hajj season
Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445...
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Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Economy
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...
- Morocco is expected to bring significant value to the partnership, given the country’s advanced industrial capabilities
- The country's GDP exceeded $134 billion in 2022 and its industrial sector provided over 1 million jobs, through some 121,000 companies
The UAE President swears in 3 new ministers
The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as...
- President Sheikh Mohamed extended his best wishes to the ministers for success in their new roles
- Sheikh Mohammed bin Rashid said that the UAE leadership places great importance on enriching the government's workforce