Morocco volunteers on Sahara clean-up mission as part Nomads Festival
M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...
Economy
Macron announces new Ukraine ‘coalition’ summit in Paris on March 27
French President Emmanuel Macron on Thursday said the leaders of a coalition of Ukraine backers would meet again in Paris...
Geostrategy
Economy
Kuwait unveils economic reform program, to focus on diversification
Kuwait City - Kuwait has announced a comprehensive economic reform plan for 2023-2027 to address various challenges facing the country’s...
- The program aims to upgrade Kuwait's monetary markets rating in FTSE Russell Indexes from emerging markets to advanced emerging markets
- In the petrochemical and oil sector, the government aims to increase oil production to 3.15 million barrels a day and refinery capacity to 1.45 million barrels a day
Business
Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...
- ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
- Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.
Geostrategy
With no deal in place with Ukraine, Russia starts grain supply initiative
Moscow, Russia - Russian Deputy Foreign Minister Sergey Vershinin has confirmed the commencement of the implementation of the Russian grain...
- The initiative was initially proposed by Russian President Vladimir Putin, who pledged to provide one million metric tons of grain at a preferential price
- Vershinin stated that practical steps are now being taken, including communication with the involved parties to establish a trilateral agreement
Business
Alif debuts in the UAE with Alif pay launch
Dubai, UAE - Alif, a Central Asian fintech leader, is expanding its presence into the United Arab Emirates (UAE) with...
- Among the services that Alif Pay will introduce in the UAE are "Send Now Pay Later," a payroll platform, a travel prepaid program, "Buy Now, Pay Later"
- According to data from the World Bank, outward remittances from the UAE reached an impressive $47.54 billion in 2021, with expectations of continued growth
Geostrategy
Saudi Nazaha, Interpol discuss ways to enhance cooperation
LYON, FRANCE - President of Saudi Arabia’s Oversight and Anti-Corruption Authority ‘Nazaha’ Mazin bin Ibrahim Al-Kahmous on Friday visited the...
- The two sides discussed cooperation between Nazaha and Interpol in the field of combating corruption and cross-border crimes.
- The discussions touched on recovering funds and assets related to corruption and pursuing fugitives in such cases.
Business
UK’s Zencargo ventures into UAE, eyes MENA expansion
Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital...
- The company plans to establish operations in the Emirates with a view to integrating into the UAE’s technology, trade and logistics ecosystem
- Zencargo’s presence in the UAE follows the UAE’s Trade Tech initiative, which was launched in partnership with the World Economic Forum
Economy
UAE vows full backing for GCC economic integration by 2025
Dubai, UAE - The United Arab Emirates (UAE) has reaffirmed its commitment to advancing the economic integration of the Gulf...
- The UAE Minister of Economy Abdulla bin Touq Al Marri, Minister Bin Touq called for developing the mechanisms of economic integration within the GCC
- The UAE urged finalization of the customs union, the establishment of a common GCC market, and the utilization of AI to bolster developmental endeavors
Geostrategy
US, Saudi, India, UAE eye railway accord at G20 summit: report
New Delhi, India - President Biden, along with the leaders of India, Saudi Arabia, and the United Arab Emirates (UAE),...
- The initiative aims to establish a comprehensive railway network connecting the Gulf and Arab nations while also facilitating connections to India
- The primary objective of this project is to strengthen the US presence and influence in the Middle East, especially as China's role in the region grows
Economy
Gig economy accounts for up to 12% of the global labor market: WB
Washington, US – The ‘gig economy’ accounts for up to 12 percent of the global labor market—much higher than previously...
- While developed countries currently dominate the demand for gig workers, the demand in developing countries is growing at a much faster rate
- Almost 60 percent of firms surveyed in poorer countries reported increased outsourcing to gig workers. In wealthier countries, less than half said the same
Business
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
- The total sales contracts for residential units in the Real Estate Bulletin during August 27-31 reached US$75 million.
- The real estate trading in sales contracts in the non-residential category during August 27-31 reached US$ 68 million.
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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
Morocco volunteers on Sahara clean-up mission as part Nomads Festival
M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...
Economy
Company News
Latest News
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
Diriyah unveils 20,000-seat arena in $63bn Saudi masterplan
Diriyah, Saudi Arabia - Saudi Arabia, has revealed plans for "The Arena in Diriyah," a monumental 76,000-square-meter lifestyle facility set...
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Most Read
Saudi families utilize henna art to encourage kids in fasting
Arar, Saudi Arabia -- In a unique and creative initiative, families in Saudi Arabia's Northern Borders Region are using henna body...
- The practice involves drawing intricate henna patterns on the hands of young girls, often featuring symbols related to Ramadan and fasting
- These designs serve as a visual reminder for the children to refrain from eating and drinking during daylight hours
Economy
MENA region could gain $385bn from women reentering workforce: survey
Doha, Qatar - The women returning to the workforce following a career break have the potential to contribute nearly US$385bn...
- Nearly half of working women in the MENA region have taken a career break, with over 68% taking them at experienced levels and above, the study reveals
- Providing flexible working models that enable women to work additional hours could generate close to US$4.3 billion in GDP gains in the nine countries surveyed
Global child deaths reach historic low in 2022: UN report
Geneva, Switzerland – The number of children who died before their fifth birthday has reached a historic low, dropping to...
- The report reveals that more children are surviving today than ever before, with the global under-5 mortality rate declining by 51 percent since 2000
- The loss of life is primarily due to preventable or treatable causes, such as preterm birth, complications around the time of birth, pneumonia, diarrhea, and malaria