Arab League organizes workshop to discuss BRICS role in MENA region

Multiply Group acquires Backlite Media

• The acquisition seamlessly complements the group’s existing portfolio, which includes Media 247 and Viola Communications
• BackLite Media, a premier advertising company, has assets in landmark locations in the UAE with revenues of $63.17m in 2023

Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister

• The minister said in Dubai the Moroccan government's economic growth forecasts are around 3.7 percent this year
• He said the WTO conference is an opportunity for dialogue toward fairer and more transparent trade measures

IHC posts net profit of US$8.97bn

• IHC's earnings per Share (EPS) saw huge growth, more than doubling from AED 6.81 to AED 12.55
• Its revenue jumped to $16.33 billion, a jump of 17.9 percent from the previous year's $13.85 billion

China discovers world’s largest metamorphic rock oilfield in Bohai Sea

• The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
• It has been anticipated that the average daily oil production will surpass 390 cubic meters.

China pledges to ‘work with all’ for results at Abu Dhabi WTO conference

• China, according to Wentao, supports efforts such as the restoration of the normal functioning of the WTO's dispute settlement mechanism
• The minister said China also supports the inclusion of the agreement on investment facilitation for development into the WTO's legal framework

WTO chief economist applauds UAE ‘commitment’ to trade liberalization

• The WTO economist said the UAE is a "natural fit" for hosting the ministerial conference, praising the country's focus on low tariffs and export diversification
• Ossa said the conference is looking to make progress on range of issues such as the reform of dispute settlement system, constraints on subsidies leading to overfishing

Commercial vehicle sales in China soar 79.6% in January

• According to the China Association of Automobile Manufacturers, some 289,000 trucks were sold during this period, a rise of 81.8 percent
• Xinhua News Agency said nearly 35,000 coaches were sold last month, an increase of 63.4 percent compared with the same period of 2023

Saudi Arabia announces major gas discovery in Jafurah

• The Saudi energy minister said that reserves at Jafurah had reached 229trn cubic feet of gas and 75bn barrels of condensates
• The Jafurah gas field, in Saudi Arabia's eastern province, is the largest liquid-rich shale gas play in the Middle East

Bahrain to support ‘Arab tourism’ in order to boost cultural integration

• The minister told media the exercise would advance the contribution of the tourism sector to Arab countries’ national development
• She said the kingdom will strengthen its position as an ideal destination for sustainable tourism in light of the diversity of its tourism services