GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further.In this...
Economy
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...
- Albudaiwi said the GCC Ministerial Council has restarted the strategic dialogue with Turkey and adopted the Joint-Action Plan 2023-2027
- He made the remarks at the GCC-Turkish Economic Forum in Istanbul with top officials and business owners from both sides in attendance
Geostrategy
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...
- The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions
- Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000
Economy
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...
- Saudi Arabia signed a memorandum of understanding with Mauritania to encourage investment flows between the two countries
- The kingdom also took steps to enhance economic ties with Chad and Somalia, enabling the private sector to benefit from opportunities
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
Business
Saudi Arabia, South Africa sign protocol for import of cattle, sheep and goat meat
Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development...
- The two sides signed the protocol on the sidelines of the Saudi-Arab-African Economic Conference held in Riyadh
- It looks to accredit the regulatory body in South Africa by the SFDA to export cattle, sheep and goat meat to the kingdom
Business
DEWA Q3 revenue soars
The company posted an operating profit of US$1bn.
- DEWA’s increase in revenue was mainly driven by an increase in demand for electricity, water, and cooling services
- The company net cash from operating activities at the end of Q3 increased by a robust $205 million to $2.66 billion
Business
Export Bahrain and Alibaba sign MoU to boost global trade
Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in...
- The agreement signed during the 6th China International Import Exhibition held in Shanghai will enable Export Bahrain and Alibaba.com to leverage their respective strengths
- The collaboration between the two entities will enable the Chinese giant to train and support Bahraini suppliers in utilizing e-commerce platforms effectively
Business
Aramex Q3 net profit down
It posted a five-percent decline in revenues to US$367m.
- It reported a decrease in net profit to $2.61 million in Q3 2023, a notable decline from $10.78 million recorded in Q3 2022
- Aramex, however, posted a 4% YoY increase in gross profit and a resilient EBITDA of $36.48m for the third quarter of 2023
GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further.In this...
Economy
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Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
Economy
Saudi Arabia aims to build ties with Canada in scientific and research fields
Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...
Business
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Business
Tenaris sets up base in Abu Dhabi
The global pipe maker invested US$60m in the business.
- The new complex is expected to generate technical and administrative job opportunities for UAE nationals
- The newly built complex represents the first of its kind in the UAE to thread full-length premium connections
Business
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...
- The ISM will collaborate with the ATO to achieve its goals, harmonizing them with the Arab League's Sustainable Development Plan
- The partnership between the ATO and ISM will enable the Arab countries to develop tourist destinations to achieve sustainable development
Business
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
- Al Zaabi said digital transformation has become a reality and threats from the transition affect the economic and social security of countries
- He said the anti-money laundering office has enhanced the fight against financial crimes and protects the nation's economic security