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
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...
Business
QSE unveils new trading system
It is expected to propel Qatar as an investment hub.
- The new platform aligns with the advanced financial market technologies deployed by exchanges like London Stock Exchange Group
- A multi-asset, multi-market, trading platform, it will provide wide support a range of asset classes including equity, fixed income, and derivatives
Geostrategy
Kuwait crown prince exhorts new MPs to focus on reforms
Kuwait City, Kuwait-- Kuwait's Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah urged parliament members to focus on reforms "for the...
- The crown prince in his address to parliament urged MPs to concentrated on reforms in a new phase full of aspirations and hopes to achieve a prosperous future
- Noting with pride how the world was praising the democratic practices in Kuwait, he called on MPs to cooperate with the government in order to address all sources of tension
Geostrategy
Iran’s foreign minister arrives in Qatar to boost ties
Tehran, Iran-- Looking to give a further boost to the relations between the two countries, Iran's Foreign Minister Hossein Amir-Abdollahian...
- The foreign minister in a tweet said that his visits to Qatar and Oman will look to promote relations and follow up on the agreements reached between officials
- His visit to Qatar follows a trip by Iran's central bank governor to Doha, who reviewed banking and economic cooperation with Qatari officials
Economy
Islamic banks’ assets climb up to US$177bn in Q1 of 2023: CBUAE
Abu Dhabi, UAE--Gross assets of the Sharia-compliant banks in the UAE climbed to $177 billion by the end of the...
- According to the CBUAE, there was an increase in Islamic banks' credit to US$109 billion toward the end of March 2023, an annual growth of 2.51 percent
- The apex bank noted the jump in the Islamic banks' deposits to US$123.45 billion in March 2023, an annual rise of 6.2 percent, from nearly US$116.26bn in March 2022
Interview
US supports China’s bid to advance Middle East peace
Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says...
- Blinken spoke of his recent visit to the Middle East where he met with the GCC leaders who, according to him, still see the US as the preferred partner
- On Taiwan, Blinken said the US has real concerns about the direction it has taken and blamed China for what he called as reckless actions
Geostrategy
UAE, Qatar restore ties, after six-year-long estrangement
According to Qatar's foreign ministry, Doha will reopen embassy in Abu Dhabi and its consulate in Dubai immediately. The UAE...
- Qatar foreign ministry said that the restoration of ties represents the will of both countries' leadership to strengthen join Arab collaboration
- Nearly six years back, Saudi Arabia, the UAE, Bahrain, and Egypt cut off ties with Qatar over accusations that it supported terrorism, a charge Doha denied
Economy
Iran-EAEU free trade zone agreement can be signed by year’s end: Russian deputy PM
Tehran, Iran-- A free trade zone agreement between Iran and the Eurasian Economic Union (EAEU) will be signed before the...
- According to the deputy prime minister, Russia was in talks with "friendly" countries like Egypt, India, Indonesia, and the UAE as they are growing markets
- He said negotiations for an agreement like this were complex and that the negotiators have to take into account a lot of different interest of member states
Business
Saudi Arabia unveils AROYA Cruises to boost tourism industry
Riyadh, Saudi Arabia-- Saudi Arabia has unveiled its own cruise-line brand called AROYA Cruises to fuel growth in its tourism...
- Saudi Arabia is looking to become a global tourist destination by the end of the decade in line with its goals outlined in Vision 2030
- The Saudi tourism department is aiming to attract 1.3 million cruise visitors by 2035 and providing some 50,000 direct and indiret jobs
Economy
UAE’s GCAA signs agreement with ICAO to boost collaboration
Montreal, Canada--The UAE General Civil Aviation Authority (GCAA) and the International Civil Aviation Organisation (ICAO) has signed a joint cooperation agreement...
- The meeting between the two sides discussed training collaboration that aims to support a safe, secure, and sustainable development of the global air transport
- The GCAA and ICAO delegations also reviewed joint initiatives, the most notable of which is Fujairah Air Navigation's accession to ICAO's TRAINAIR PLUS Program
Economy
UAE’s foreign trade records 17% jump to US$607bn in 2022
The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the...
- The UAE until now has forged comprehensive economic partnership agreements with four nations: Turkey, Israel, Indonesia and India
- Dubai Customs provides a range of commercial and customs services to traders and investors from countries that have signed CEPA with the UAE
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
Company News
Gulf Air hit by data breach
Economy
Latest News
South Korea posts 32% jump in export of eco-friendly vehicles
Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11...
Business
Kuwait’s annual inflation jumps to 3.79% in November
According to the Kuwait Central Statistical Bureau, the upward trend was mainly attributed to rising prices across all major groups...
Economy
Number of journalists killed in Israel’s war on Gaza rises to 100
Dubai, UAE-- At least 100 journalists have been killed since Israel’s war on Gaza began on October 7, according to...
Geostrategy
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Business
Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...
- The launch of interconnection is expected to achieve automation and integration of procedures, with the aim of providing the best services to taxpayers
- The chairman of customs said that the e-connection between customs and tax services is part of Qatar's vision to leverage technology and provide advanced and effective services
Economy
Qatar expects a decrease in inflation next year
Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...
- The Qatari finance minister said the high inflation in Qatar during 2023 was linked to high food prices, and it was a temporary phenomenon
- The minister said the total expenditure in the 2024 budget will be US$55.1 billion, a one percent compared to the current year's budget
Business
UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...
- Mauritius posted an 8.5 percent GDP growth in 2022 — the fastest in 35 years
- The deal is also expected to drive FDI into fintech, healthcare and tourism sectors