UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Saudi Arabia pursuing sustainable tourism: Tourism chief
The Kingdom's goal is to reach zero emissions by 2030.
- The Kingdom's goal is to reach zero emissions by 2030
- The country is presenting 66 initiatives as part of its environmental plan
Economy
Standard & Poor’s upgrades Qatar’s rating to AA with stable outlook
The agency expects that Qatar would achieve large budget surpluses and sustainably reduce debt servicing costs due to the government's...
- The agency expects that Qatar would achieve large budget surpluses and sustainably reduce debt servicing costs due to the government's successful strategy to pay off debts
- This upgrade by Standard & Poor's comes in conjunction with Moody's amendment of its expectations for Qatar from "stable" to "positive"
Queen Rania calls for ‘mindful use’ of technology at Web Summit in Portugal
She made her remarks while delivering a keynote speech at the Web Summit in Lisbon, Portugal during a sessios titled...
- She made her remarks while delivering a keynote speech at the Web Summit in Lisbon, Portugal during a session titled "Battling Built-In Biases."
- Other speakers included Sir Martin Sorrell, world-renowned author Naom Chomsky, Brad Smith of Microsoft, and the President of Portugal, Marcelo Rebelo de Sousa
Asia, Middle East up diesel exports to Europe in October
According to ship tracking data from Refinitiv, about 289,000 tonnes of gasoil will be loaded from South Korea and China...
- According to ship tracking data from Refinitiv, about 289,000 tonnes of gasoil will be loaded from South Korea and China to northwest Europe in October
- This month has seen a flurry of spot tenders from South Korea and Taiwan, two of Asia's largest fuel exporters
Economy
Greece and Egypt call Turkish-Libyan gas deal ‘illegal’
On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the...
- Greece, Egypt and Cyprus believe the 2019 agreement violates their economic rights in an area suspected to contain vast natural gas reserves
- The deal follows an agreement Turkey signed three years ago with Tripoli that demarcated the countries' shared maritime borders
Islamic Development Bank raises $1.6b from Sukuk issuance
An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc.
- An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc
- The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022
Geostrategy
UAE presents Order of the Union to Pakistan Army chief
Sheikh Mohamed received General Bajwaat Qasr Al Bahr Majlis and discussed with him bilateral cooperation and joint action in areas...
- Sheikh Mohamed received General Bajwaat Qasr Al Bahr Majlis and discussed with him bilateral cooperation and joint action in areas of defence
- They also exchanged views on an array of the latest regional and global issues and developments of mutual concern
Business
2.6% year-on-year rise in insurance sector assets in Q1 2022: CBUAE
The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1...
- The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1 million policies
- Gross Written Premiums increased Y-o-Y by 4.6 percent in Q1 2022 to AED 15.8 billion mostly due to an increase in property and liability insurance premiums
Geostrategy
Tunisia to vote on constitution seen as threat to democracy
Tunisians will vote Monday on a constitution that would give President Kais Saied almost unchecked powers, a key moment in...
- The president's opponents have called for a boycott, but while observers have predicted most Tunisians will snub the poll, few doubt the charter will pass
- The leader of Saied's "new republic" would have ultimate executive power and would appoint a government without the need for a confidence vote in parliament
Economy
EU’s Official Development Assistance reaches US$71b in 2021
This represents a 4.3 percent increase in nominal terms and the equivalent to 0.49 percent of collective Gross National Income.
- This represents a 4.3 percent increase in nominal terms and the equivalent to 0.49 percent of collective Gross National Income.
- Overall, 22 Member States increased their ODA in nominal terms last year compared to 2020, with the strongest nominal increases coming from Germany
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UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
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Dubai Future Forum calls for creation of global framework
DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges,...
Geostrategy
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...
Economy
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Geostrategy
Israel reportedly pulls support for Saudi bid to host Expo 2030, to back Italy
Tel Aviv, Israel - Israel has reportedly withdrawn its support for Saudi Arabia’s bid to host the Expo 2030. The...
- Israel had previously signaled its backing for Saudi Arabia as talks mediated by the US aimed at normalizing relations between the two nations gained momentum
- Riyadh’s alignment with the broader Arab community in condemning Israel's military operation in Gaza sparked a rift, prompting Israel to reconsider its support
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
- CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
- Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Oman’s Producer Price Index down in Q3 2023
Muscat, Oman - The Sultanate of Oman's producer price index (PPI) in Q3 2023 recorded a decrease of 13 percent...
- Prices of oil and gas products decreased by 13.7 percent, under pressure from the decrease in the prices of crude oil and natural gas products by 16 percent
- Non-oil products also recorded a decrease of 8.2 percent due to a decrease in the prices of the manufacturing industries group by 10.2 percent