China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
Economy
Business
Saudi Arabia, South Korea sign two MoUs for mobility, road projects
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the...
- The agreements between the two countries will boost cooperation in mobility and innovation in the transport and logistics services sectors
- Both the countries will, in accordance with the spirit of the agreement, exchange experiences to solve challenges in adopting modern technologies
Business
Central Bank of Oman issues treasury bills valued at US$36.35 million
Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the...
- According to the central bank, the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days
- The bank added in a statement that the allotted treasury bills amounted to $10.38 million for a maturity period of 91 days
Economy
UAE begins talks with Thailand under CEPA to boost trade
Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations...
- The UAE has signed four agreements with India, Israel, Indonesia and Turkey, with the first two having already come into force
- The country is holding negotiations with many other nations in the neighborhood and beyond to arrive at similar agreements
Business
Burjeel Holdings Q1 profit $33m
The company posted Q1 revenue of US$299 million.
- Firm's revenue increased by 11.6 percent year-on-year and net profit by 43.4 percent reflecting strong growth.
- Burjeel Holdings continue to review partnership opportunities in the Middle East and Africa region.
Business
Qatar’s Hamad International Airport passenger traffic soars 44.5% in Q1
Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current...
- Some 3.56 million passengers arrived at the airport in January, followed by 3.24 million in February, and 3.5 million passengers in March
- During the first quarter of the year, the airport handled more than 540,000 tons of cargo and transferred some 8 million bags
Economy
Uzbekistan calls for launch of ‘forum for businessmen’ in Doha or Tashkent
Doha, Qatar-- Uzbekistan has called for establishing a joint forum for businessmen in Doha or Tashkent to review investment opportunities...
- The minister highlighted opportunities for investment in the Central Asian state, saying large foreign companies have begun investing in various sectors
- He lay emphasis on building trade and investment alliances between Qatari and Uzbek companies that contribute to boosting of trade exchange between the two nations
Business
Kuwait’s central bank issues US$1.05bn worth of bonds and tawarruq
Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued...
- Early this month, the bank issued bonds and tawarrruq worth US$ 660 million for three-months term
- It said the value of the first issuance amounted to $528 million for three months with a return rate of 4.250 percent
Business
Arab Federation for Digital Economy signs deal with Union of Arab Chambers
Abu Dhabi, UAE-- Designed to achieve a common Arab vision for the digital economy, the Arab Federation for Digital Economy...
- The agreement is designed to bolster the Arab digital economy, strengthen intra-Arab trade, and increase the reality of Arab trade exchange
- Rated as the fastest growing market in the world, the e-commerce market in the MENA region was valued at $49 billion at the end of 2022
Economy
Jordan’s food companies to show off products at Canada fair
Amman, Jordan-- With an eye on boosting its exports to North America, a range of companies from Jordan will showcase...
- Jordan Exporters Association in a statement said that the kingdom's enterprises will network with customers from Canada and other countries at the fair
- JEA President Ahmed Khodari said industrial exports play a vital role in advancing the country's economy by boosting output and growing existing investments
Economy
Iran’s exports touch US$50bn, break record: Raisi
Tehran, Iran--The 13th government has been able to export goods worth more than $50 billion since taking office, breaking the...
- The president speaking at the fifth Export Potential Exhibition of the Islamic Republic of Iran applauded the country's achievements in medical and health sectors
- He said that in spite of obstructions created by "enemies" to hinder Iran's military, nuclear, and scientific goals, it had succeeded in building defense and nuclear industries
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
Economy
Company News
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Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...
COP28 UAE
First Movers Coalition emerges as top advocate of climate-friendly technologies
Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector...
COP28 UAE
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Business
FAB partners with Engie
They will advance solutions in financial decarbonization.
- The partnership entails both to focus on derivatives or financing solutions related to energy, carbon, renewables, battery energy storage systems, and green products
- Engie is a global leader in low-carbon energy and services, including renewables, committed to accelerate the transition towards a carbon-neutral world
Business
Crypto markets witness dynamic asset allocation amid volatility, says study
DUBAI, UAE – Institutional traders (INS) in the crypto markets maintain a conservative approach, with 50 percent of their portfolio...
- In September 2023, institutional traders allocated half of their portfolios to Bitcoin, the report said.
- Retail traders showed a lower percentage of Bitcoin holdings, which could be linked to their higher leverage levels.
COP28 UAE
Global Fund to allot 70% of its funding to countries hit by climate change
Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of...
- Peter Sands, of the Global Fund, said the fight against deadly infectious diseases "must go hand in hand with addressing climate change”
- The fund will also invest over US$2.9 billion over the next three years in the 50 most climate-vulnerable countries to strengthen health systems