ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
Business
Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
Geostrategy
Economy
Leaders to brainstorm solutions for ‘cohesive world’ at WEF Davos 2023
Global business leaders, CEOs, and innovators from around the world will gather in Davos next week to discuss what World...
- The annual summit of the non-profit World Economic Forum (WEF) will begin on January 16 and go on until January 20, 2023
- WEF President Børge Brende said the focus would be on sustaining economic growth "where our natural environment is not compromised"
Business
Dubai Chamber of Commerce launches printing and publishing unit
Dubai, UAE--Dubai Chamber of Commerce has launched the printing and publishing business group to boost the sector’s competitiveness and support...
- According to Sharjah Publishing City, the UAE’s publishing sector is expected to grow to US$650 million by 2030
- The newmbusiness group is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai
Economy
Egypt’s December inflation vaults up to annual 21.3 percent
Cairo, UAE--Egypt's annual urban consumer inflation in December shot up to 21.3 percent from 18.7 percent in November, exceeding analyst...
- The price rises followed a currency devaluation in October and restrictions on imports
- The central bank allowed the Egyptian pound to depreciate by about 14.5 percent on Oct. 27 and let its value continue to weaken slowly and incrementally in November and December
Economy
UK data shows retailers boosted by higher Christmas prices
London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods...
- In December, revenue jumped almost seven percent from a year earlier largely thanks to surging food prices
- UK inflation dipped last month to 10.7 percent but remains close to 40-year highs, forcing consumers to switch to cheaper products
Economy
SDPW to support carbon neutrality and zero emissions
Sharjah, UAE--The Sharjah Department of Public Works (SDPW) conducted a workshop on the "Sharjah Ports, Customs and Free Zones Authority...
- Head of the SDPW said that the department supports carbon neutrality in its buildings and is part of UAE's initiative to achieve carbon neutrality by 2050
- The SDPW maintained that it applies the highest international and local standards for green buildings and is committed to improving the efficiency
Business
MENA IPO Summit to attract top industry experts
Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming...
- The inaugural summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.
- It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities
Geostrategy
Morocco raises migrants’ jail time over Melilla tragedy: lawyer
More than six months after 23 people died in an attempt to cross into the Spanish enclave of Melilla from...
- The Moroccan Association for Human Rights (AMDH) put the number of dead at 27, while rights group Amnesty International said at least 37 people lost their lives
- Melilla and its sister enclave of Ceuta have long been a magnet for those desperate to escape grinding poverty and hunger
Business
MEEZA to offer 50% of its shares
It will be Qatar's first firm to use book building for IPO.
- Offering shares to qualified investors through the book-building process will commence on 15 January 2023 and will end on 26 January 2023
- MEEZA said that the price range of the company's shares has been set between 2.61 QR and 2.81 QR and is composed of a nominal value of one (1) QR per share
Economy
Qatar Credit Bureau hands out more than 33,000 reports in 2022
Doha, Qatar--The Qatar Credit Bureau has disclosed that more than 33,000 credit reports were issued and more than 1,400 complaints...
- The number of new subscribers to the text messaging service reached 11,000 new subscribers
- The center pointed out that the electronic services portal provides direct access to all the center's services around the clock
Economy
Qatar’s foreign reserves post 9.6% rise in December to US$59.31bn
Doha, Qatar--Qatar Central Bank's (QCB) international reserves and foreign currencies liquidity increased last December by 9.6 percent on an annual...
- The figures issued by QBC showed an increase in the bank's official international reserves standing at $44.31 billion by the end of last December
- QCB's official international reserves recorded a growth of 3.6 percent, compared to that of November 2022, which at that time amounted to $42.77 billion
ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
Business
Company News
Vitronic signs contracts in MENA
Business
DP World spends US$6bn
Business
Latest News
COP28 huge moment for world and UAE: UK Economic Secretary to Treasury
Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to...
Business
UAE and China urge UN Security Council meeting on Gaza
Dubai, UAE-- The United Arab Emirates (UAE) and China have called for a closed-door meeting of the UN Security Council...
Geostrategy
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Business
Sharjah looks to boost economic, investment ties with Uganda and Kenya
Sharjah, UAE-- The emirate of Sharjah is seeking to boost economic and investment cooperation with Uganda and Kenya.In this connection,...
- In order to boost trade with Uganda and Kenya, the Sharjah Chamber of Commerce and Industry (SCCI) will dispatch a trade mission to the African countries
- The trade mission will explore ways to enhance development and foster stronger ties as part of the chamber's commitment to supporting the local business community
Business
Global assets in spot bitcoin ETFs hit US$4.16 billion
Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed...
- Around half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021
- Regulators in the United States are currently considering as many as 10 applications to launch similar spot-based ETFs in the U.S
Geostrategy
Public defies world leaders, rallies to back Palestinians
Global outcry mounts as thousands protest in the US, UK, France, and Germany, defying their governments' support for Israeli aggression...
- Condemning US President Joe Biden for his support of Israel, thousands of protesters in the US capital Washington called for a ceasefire in Gaza
- Thousands marched in solidarity with Palestinians in Paris, where slogans were heard calling for a boycott of Israel along with shouts of "Israel terrorist state"