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
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
Economy
China’s foreign exchange reserves swell to US$3.127trn
Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a...
- The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries and boost coordinated regional development
Economy
Egypt posts 10% jump in exports to US$3.32bn
Cairo, Egypt--The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10% to $3.32bn from...
- Exports of the electrical and electronic sectors climbed by 2%, while exports of transportation equipment increased by 14%, metal forming saw an impressive gain of 96%
- Egypt’s economy was hit hard after Russia’s invasion of Ukraine last February unsettled global investors and led them to pull billions out of the North African country
Geostrategy
UAE dispatches generators in aid to power-starved Ukraine
Abu Dhabi, UAE- The UAE has dispatched a second consignment of household generators for the Ukrainian civilians affected by the...
- The UAE announced in December that it's sending 2,500 household generators to civilians affected by the ongoing crisis in Ukraine that has disrupted energy infrastructure
- The support comes within the $100 million humanitarian relief aid allocated by the UAE to the civilians affected by the crisis in Ukraine
Business
Market cap of Arab bourses hits US$4trn at end of 2022
Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according...
- The AMF said the market value of the Saudi Stock Exchange was $2.63 trillion and that of the Qatar Stock Exchange was $167.09 billion
- The market cap of the Boursa Kuwait was $152.7 billion and that of the Muscat Stock Exchange was $61.6 billion
Business
NBF introduces ‘CVVkey’
It will shield customers from fraud and online threats.
- CVVkey will be a key element in NBF's efforts to improve cybersecurity across its operations and protect its customers from fraud and other online threats
- Every few hours, the CVVkey app provides a unique 3-digit dynamic security code for each card enrolled in the service
Economy
Businesses in Qatar post growth in December due to World Cup
Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month....
- Wholesale, retail, and service providers in particular registered rapid expansions in activity
- The Qatar Financial Centre PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 450 private sector companies
Geostrategy
UAE President and Jordan’s King discuss ties in Abu Dhabi
The UAE President Sheikh Mohamed bin Zayed has met with Jordan's King Abdullah II in Abu Dhabi and discussed "fraternal...
- Ayman Al Safadi, Deputy Prime Minister and Minister of Foreign Affairs and Expatriates of the Hashemite Kingdom of Jordan was also present
- Upon his arrival, the king was welcomed by the president and a number of Sheikhs
Geostrategy
Pakistan expects a boost in trade with UAE in 2023
Abu Dhabi, UAE--The bilateral trade between Pakistan and the United Arab Emirates is expected to double from the US$10.6 billion,...
- The ambassador said the UAE is the biggest trading partner of Pakistan in the MENA region and that CEPA would provide an opportunity for the two countries to increase trade
- More than a million Pakistanis residing in the UAE sent $6.11 billion in remittances during 2020-21
Science
Qatar recycles 80% of waste collected during World Cup
Doha, Qatar-- Qatar has recycled some 80 percent of waste collected from stadiums during the FIFA World Cup games. According...
- Nearly 54 percent of the waste has been converted into compost, 22 percent into plastic, 14 percent into paper and cardboard, and 8 percent into glass
- She said the climate change issues and the optimal utilization of natural resources are among the top priorities of the Sustainability Department at the SC
Most Read
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
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
DP World spends US$6bn
Business
Latest News
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
Jordan and Lebanon call for international initiative to stop war on Gaza
Amman, Jordan-- Jordan and Lebanon have called for the speeding up of international efforts to stop the war on Gaza...
Geostrategy
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...
Business
Most Read
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"
Business
PureHealth partners with Dell to use AI in disease detection, data analysis
Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in...
- The cooperation will take advantage of the collective resources and technologies of both companies to improve health outcomes by ensuring access to medical solutions
- The global AI healthcare market was valued at $11 billion in 2021 and is projected to expand to have a market size of $187 billion market size by 2030
Geostrategy
Israel Foreign Ministry denies relations with Bahrain cut off
Dubai, UAE-- A day after Bahrain's parliament announced that its ambassador to Israel is being recalled, the Jewish state said...
- Israel has not received any “announcement or decision from the Bahraini government, according to its Foreign Ministry
- Bahrain said on Thursday that the Israeli ambassador had left Bahrain, while its ambassador has been recalled from Israel