QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
Business
Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
Economy
At UN, UAE plays up link between climate change and peace
Exhorting the Security Council to adopt what she called as innovative attempts to address the interplay between climate change, peace...
- The minister exhorted the council to approach conflicts through a climate-sensitive lens, strengthening the capacity of relevant peace operations
- Chairing presidency of the UN Security Council for June, the UAE held the debate under the title "threats to international peace and security"
Economy
High oil prices fuel Saudi Arabia’s economy as GDP grows to 8.7% in 2022
Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against...
- The kingdom's growth was driven by oil, which contributed 15.4 percent to the overall GDP growth, while non-oil activities also made a positive contribution of 5.4%
- In 2023, stable commodity and food prices are expected to limit upward pressure on imported goods as the dollar continues to gain strength
Economy
Qatar and Iran look to boost monetary, banking ties to propel trade
Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between...
- The establishment of monetary and banking relations between Doha and Tehran will drive the volume of trade between the two countries significantly
- Referring to Tehran-Doha joint cooperation, Qatar's central bank governor said that there are many opportunities to increase trade between Qatar and Iran
Business
Dubai Airshow 2023 to show off latest trends in aerial mobility
Dubai, UAE-- Dubai Airshow 2023 will show off the latest trends in the advanced aerial mobility (AAM) market as disruptive...
- The airshow in Dubai will lure global industry players and thought leaders from across aerospace, space and defense later this year to showcase the latest innovative solutions
- Participants at the airshow will have the chance to look up a host of aerial transport solutions, including drones, UAVs, UAMs and eVTOLs, at the brand new AAM pavilion
Economy
UAE consul general visits Albany to foster deeper economic, cultural ties
Albany, New York-- The UAE has reiterated its resolve to strengthen economic and cultural ties with New York and the...
- UAE's Consul General in New York Amna Binzaal Almheiri reiterated the country's resolve to enhancing ties with the US and New York in trade and culture
- In her discussions with trade and cultural bodies, focus was on the partnerships established between the two countries and ways to ramp up joint cooperation
Economy
UAE aims to drive sustainable development with its new policy on energy market
Dubai, UAE-- The UAE has set its sights on regulating the energy providers market as a step toward developing the...
- The new policy looks to increase investments in the energy sector, modern technologies that will provide long-term economic and environmental benefits
- The minister emphasized the policy's role in bolstering the UAE's sustainability solutions to drive climate change mitigation efforts and enable integration between stakeholders
Economy
Saudi Arabia climbs to 13th rank on IATA air connectivity index
Riyadh, Saudi Arabia-- Saudi Arabia vaults to the 13th position on the air connectivity index of the International Air Transport...
- The kingdom rose by 14 places in the ranking that includes more than 200 countries, and it clocked highest connectivity level by linking up 131 destinations
- Saudi Arabia has recorded 42 percent growth in the number of passengers during the first four months of 2023 as against the same period last year
Economy
UAE’s MoHRE extends deadline for companies to meet Emiratisation targets
Dubai, UAE-- The UAE'S Ministry of Human Resources and Emiratisation (MoHRE) has extended the deadline for private sector to hire...
- The ministry said the decision to give companies more time to reach their targets to hire Emiratis was taken by taking into account the Eid holidays
- MoHRE has warned companies in the private sector that non-compliance with the decision will invite a fine of AED42,000 for each Emirati not employed
Economy
UAE and South Korea agree to support SMEs, entrepreneurship
Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small...
- The UAE's Minister of Economy, Abdullah bin Touq Al Marri, noted the strong business and strategic ties between the two countries, which continue to grow on many fronts
- South Korean FDI in the UAE, in insurance, mining, energy, real estate, touched US$2.2 billion in 2021, registering a staggering 73 percent growth since the beginning of 2013
Economy
UAE and Russia hold talks to eliminate double taxation
Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and...
- The agreement is designed to provide protection to taxpayers from double taxation and remove bottlenecks on the path of trade and investment
- The UAE noted the importance of dialogue in fostering better bilateral relations with Russia, resulting in growth in trade, finance and investment
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
Business
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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...
Business
Arabian Travel Market ties up with ICCA, GBTA as business set to touch US$1.8trn
Dubai, UAE--Arabian Travel Market (ATM) has entered into a partnership with the International Congress and Convention Association (ICCA) and the...
Business
Aldar ties up with Yellow Door Energy
They will supply solar power to 45 properties in the UAE.
Business
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Business
Kings Aluminium starts building US$204m facility in KEZAD
Abu Dhabi, UAE-- Kings Aluminium Industries has begun constructing a state-of-the-art aluminium manufacturing and recycling facility in Khalifa Economic Zones...
- The aluminium factory spread across 100,000 square metres of land leased from KEZAD Group will source its raw material from Emirates Global Aluminium
- The facility will localise the manufacturing, utilise local raw materials, enhance environmental as well as sustainability aspects in the production process
Business
Saudi EVIQ unveils R&D facility
It will be used to test a range of EV chargers and software.
- The CEO of EVIQ said that with the setting up of R&D facility the company was paving the way for the growth of a sustainable EV ecosystem in Saudi Arabia
- The company said that the facility will serve as a hub for developing the expertise and knowledge in EV charger technology, bolstering the EV market in the kingdom
Business
Russia’s Gazprom sets new daily record for gas supplies to China
Moscow, Russia--Gazprom has set a new record for daily gas supplies to China via the Power of Siberia pipeline on...
- According to Gazprom, supplies are made under a bilateral long-term gas purchase and sale agreement between the oil company and China
- The company added that since November it has ramped up the volume of gas supplies to China as per the previously signed additional agreement