China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
Economy
GCC and Sweden look to ramp up cooperation in ‘several areas’
Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides...
Geostrategy
Economy
Jordan and Arab League discuss ways to boost communication ties
Amman, Jordan-- Jordan and the Arab League have discussed ways to deepen coordination on communications. Minister of Government Communication Faisal...
- Faisal Shboul of Jordan noted the "importance" of cooperation between Jordan and the Arab League regarding strengthening and developing the joint Arab media framework
- Ahmed Khattabi of the Arab League praised Jordan's hosting of Arab media forums and meetings through coordination and consultation with the media and communication sector
Business
Abu Dhabi stock exchange expects boom in listings in 2023
Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on...
- Last year the stock exchange featured five initial public offerings and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company
- The chairman said the global picture is "starting to look better than expected, with a soft landing now forecast in the United States"
Economy
Tourism in Iraq can be a success, says First Deputy Speaker of Parliament
BAGHDAD, IRAQ - First Deputy Speaker of Parliament Mohsen Al-Mandalawi said that the tourism sector in Iraq has all the...
- Tourism in Iraq can be successful, says First Deputy Speaker of Parliament.
- The First Deputy Speaker met with the Association of Travel and Tourism Companies in Iraq.
Business
Saudi Arabia signs two MoUs at Riyadh Global Medical Biotech Summit
Riyadh, Saudi Arabia--The Saudi Ministry of Investment has signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo...
- The two agreements are aimed at enhancing joint cooperation with the biotechnology and medicine sector in the Kingdom
- The Ministry of Investment is a strategic partner to Riyadh Global Medical Biotechnology Summit 2023
Geostrategy
Al Aqsa preacher fears takeover of mosque by Israeli government
Doha, Qatar-- The preacher of the Al Aqsa mosque Sheikh Ekrema Sabri fears takeover of the mosque by the extreme...
- Sabri did not rule out the extreme right-wing Israeli government's attempt to control the Al Aqsa mosque
- He maintained that the Palestinian cities are sitting on the crater of a volcano
Business
GIS, DIG halt merger talks
The talks for the merger have not yielded a "common vision."
- According to a statement, the two groups have decided to end negotiations and to withdraw completely from the proposed merger partnership deal
- The potential merger would have created one of the largest local insurance companies with highly competitive potential and financial strength
Business
DP World gets rating upgrade
The boost is seen as key for its long-term growth plans.
- The rating upgrade follows two major investments in 2022 at DP World’s flagship UAE assets: Jebel Ali Port, Jebel Ali Free Zone, and National Industries Park
- According to Moody’s, DP World’s diversified global port operations led to the improved rating
Economy
OPEC Fund lends Panama US$120m in loan for climate action
Vienna, Austria--The OPEC Fund for International Development (the OPEC Fund) has lent Panama a US$120 million in loan to support...
- The money is intended to mitigate, contain and reverse the effects of climate change, helping Panama to achieve its long-term climate change commitments
- Panama is considered a carbon negative country with almost no contributions to global emissions but the country is vulnerable to the impacts of climate change
Business
NBF posts 195% profit jump
The bank's net profit rose to $93 million in 2022.
- Net interest income and net income from Islamic financing and investment activities grew 29.8 percent to $327 million
- Income from investments and Islamic instruments stood at $5 million
Economy
MENA IPO Summit discusses ‘regulatory structure for capital markets’
Dubai, UAE-- On the second day of the MENA IPO Summit Dubai 2023, many experts called for the creation of...
- The summit, held at the Museum of the Future, aims to mobilize the various players of the initial public offering (IPO) value chain by providing a platform for dialogue
- Investment experts and companies also discussed environmental, social and governance (ESG) practices
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
Economy
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Porsche sales revenue up
Business
Egypt annual core inflation falls 1.6 percent in October
Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
Economy
GCC keen to strengthen economic cooperation with Turkey: Albudaiwi
Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General...
Economy
Turkey halts joint-energy projects with Israel over Gaza war
Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
Geostrategy
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Geostrategy
France rallies for Gaza, demanding ceasefire
Pleading for an end to Israel's war on the Gaza Strip, thousands of pro-Palestine supporters took to streets in Paris...
- Similar ceasefire rallies also took place in other French towns including Marseille, Toulouse, Rennes and Bordeaux
- Manuel Bompard, one of the coordinators in Marseille, said the mobilization is essential in the face of massacres
Economy
UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...
- The minister made the remarks at the 42nd session of the General Conference of UNESCO General Policy Debate, held in the UNESCO headquarters in Paris
- He underscored the UAE's efforts in the field of environmental sustainability and its keenness to enable learners and equip them for the “digital age we live in”
Business
Qatar records 17-percent jump in building permits issued in October
Doha, Qatar--Qatar's Planning and Statistics Authority has given out 769 building permits in various municipalities in the country during the...
- The jump was seen in the majority of municipalities: Umm Salal (105%), Al Khor (47%), Al Shamal (30%), Al Sheehaniya (22%), Al Thakhira (21%), Al Wakra (20%), Doha (3%)
- Data on building permits and completion certificates holds special significance as an indicative measure of the performance of the construction and building sector