Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
OPEC chief calls for more investments in oil industry to meet energy demand
Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to...
Business
Geostrategy
Dubai to host ‘Arab Strategy Forum’ next week
Dubai, UAE--The Arab Strategy Forum will commence in Dubai on January 3rd, 2024 to debate the intricate political and economic...
- The platform will bring together prominent global leaders, strategic experts, and leading figures in the realms of politics and economics
- Participants will examine the intricate political and economic landscape of the region, and analyze current positions of Arab nations
Business
Excel Astra to build facility in KEZAD
The fabrication unit will cost the firm US$5.44m.
- The new installation will benefit from the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products
- The business facility is expected to source $21.78 million worth of goods and services from the local market annually, thereby strengthening the local economy
Economy
UAE looks to support farmers to boost sustainability of food sector
Dubai, UAE--The UAE leadership places utmost importance on supporting farmers to enhance the sustainability of the agricultural and food sector,...
- The farmers' council looked to identify the needs of the farmers to increase domestic productivity and thereby optimise imports
- The minister said that one of the key goals of the UAE is to make agricultural systems more sustainable and climate-smart
Business
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...
- Central Bank of the UAE data shows that assets rose 3.05 percent from US$1 billion to US$ 34.7 billion between Q2 and Q3 of 2023.
- The UAE's leadership position within the Arab insurance landscape is further solidified by its consistent ranking among the top global performers.
Economy
Abu Dhabi’s non-oil economy expands 7.7 percent in Q3 2023
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the...
- The growth is due to the success of Abu Dhabi’s comprehensive strategies aimed at fortifying its standing as a prominent economic powerhouse.
- Preliminary estimates reveal that most of non-oil activities have sustained growth rates, contributing 52.8 percent to the overall economy.
Business
Abu Dhabi Maritime unveils new hub
Maritime Hub Abu Dhabi will boost the marine sector.
- The hub will benefit from interaction with influential bodies, policymakers and a vibrant community of players covering offshore, maritime suppliers
- It is expected to play a crucial role in facilitating the maritime industry’s sustainability, offering awareness, guidance in relation to decarbonisation
Business
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...
- The growth in the insurance sector is expected to shore up the market's liquidity and make it more resistant to any future downturns
- According to the CBUAE report, the number of direct premiums written expanded by 11.2 percent year-on-year to 9.8 million in 2022
Economy
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...
- According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
- The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
Business
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.
- The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
- The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
Company News
Ford halts shipment of F-150 EVs
Business
Latest News
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...
Economy
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Economy
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
- The report said many participants emphasized the risks of moving too quickly and noted the importance of carefully assessing incoming data
- The recent data revealing a weakening demand in the US restricted the rise in oil prices, as the crude oil stocks in the country increased by 7.1m barrels
Geostrategy
Tunisian president emphasizes need to bolster security in Arab societies
Tunis, Tunisia--Tunisian President Kais Saied on Monday stressed the need to reach an approach that contributes to enhancing the security...
- The president spoke at the the 41st session of the Arab Interior Ministers Council launched in Tunis, calling for efforts to deal effectively with all security challenges
- Saudi interior minister said the regularly scheduled council meetings "reflects the common awareness of the importance of coordination to confront all the challenges
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...