China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday.The National Bureau...
Economy
Geostrategy
Iraq president seeks to deepen partnership on his visit to Iran
Tehran, Iran--Accompanied by a large delegation, Iraq's President Abdul Latif Rashid arrived in Tehran to deepen economic, trade and political ties...
- The two presidents will hold talks on trade, climate change, security, stability at the Saadabad Cultural and Historical Complex
- The Iraqi president has maintained that the two neighbors can contribute to strengthening of security and stability in the region
Business
Abu Dhabi to host electric-run aircraft, drone manufacturing plant
Abu Dhabi, UAE-- Monarch Holding and Chinese company EHang Holdings have signed an agreement to establish the first facility in...
- Apart from making electric aircraft and drones, the two partners will set up a command-and-control centre to manage urban air mobility autonomously
- The collaboration is also expected to result in an advanced infrastructure for vertiports and an autonomous flight management system operated by AI
Business
Becht scours for partners in Saudi Arabia, Oman to widen operations
Riyadh, Saudi Arabia-- Becht, an American engineering services company, has revealed that it is in talks with potential partners in...
- The company's director for the Middle East said discussions with companies in Saudi Arabia were also going on for striking partnerships
- Van Der Beek said that Becht hopes to sign a number of downstream contracts with firms in Oman within a year
Economy
Jordan-US trade soars to US$745mn in first two months of 2023
Amman, Jordan--The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745...
- The Department of Statistics said in a statement that the vaule of exports from Jordan to the US shot up to $392 million in the first two months of 2023, a 28.2 percent jump
- Imports from the US to Jordan also increased during the first two months of the year to $353 million, a 38.2 percent jump, as against $255 million for the same period of last year
Economy
UAE Banks Federation ratifies plan to develop banking sector
Abu Dhabi, UAE-- Looking to employ 5,000 UAE national by 2026, and designing a program to groom future banking and...
- The naitonal anti-fraud campaign launched by the federation to strengthen customer confidence in the banking and financial sector was commended in the meeting
- Abdulaziz Al Ghurair, the Chairman of the UBF, applauded the Central Bank of the UAE for supporting the federation and guidance to its members
Economy
King Abdullah calls for uplift in investment environment in kingdom
Amman, Jordan-- Jordan's King Abdullah has called for enhancing the investment environment in the kingdom in order to propel economic...
- The king stressed the need for creation of procedures for investors, and to improve integration between ministries and institutions
- The kingdom's investment ministry will soon launch an online portal with all information on investment opportunities in priority sectors
Business
OPEC Fund to support SMEs in Paraguay with US$50mn funding
Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC...
- OPEC Fund Director-General Abdulhamid Alkhalifa said that supporting food-exporting countries like Paraguay is vital for global food security
- The fund set up its Food Security Action Plan in 2022, alloting US$1 billion for providing assistance in order to cover the import costs of grains and fertilizers
Business
Dubai Metro ferries 2 billion people since inauguration: RTA
Dubai, UAE - The passengers of Dubai Metro surpassed two billion since its inauguration on September 9, 2009, the Roads...
- The metro's Red Line transported 1.342 billion commuters while the Green Line served 673.531 million commuters.
- Also, the Dubai Metro maintained a punctuality rate of 99.7%, surpassing international safety standards.
Geostrategy
Iraq president to visit Iran as Middle East peace process gathers pace
Tehran, Iran-- Iraq's President Abdul Latif Rashid will make an official visit to Iran in the near future as the...
- The visit of Iraqi president to Iran was raised in a phone call between the Iraqi Foreign Minister Fuad Hussein and Iranian Foreign Minister Hossein Amirabdollahian
- The two foreign ministers also reviewed ways to widen strategic cooperation and the need for consultations on various issues of mutual interest
Business
Qatar expects Eid bonanza, hotel occupancy rates to go up 80%
Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays...
- Qatar aims to have at least six million visitors annually and raise the contribution of the tourism sector to the country's GDP to 12 percent by 2030
- Visitors can now apply for a visa using a single platform, on which they can submit their visa applications and then receive the travel documents
China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday.The National Bureau...
Economy
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Chevron Q3 profit falls
Business
UAE signs agreements to develop Kazakhstan renewables sector
Dubai, UAE--The United Arab Emirates (UAE) and Kazakhstan signed an agreement outlining a commitment to co-operation in the development of...
Business
Abu Dhabi-backed fund takeover of Telegraph triggers UK probe into sale
Dubai, UAE--The UK government has ordered a formal probe into the proposed sale of the Telegraph Media Group to an...
Business
UAE marks 52nd National Day with parades, shows
Across the country, the festivities will be characterized by performances of Emirati folk arts, cultural shows, police parades, display of...
Geostrategy
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COP28 UAE
World Bank allots 45% of its financing to climate projects
The bank, according to a statement, "is putting to work more than $40 billion", around $9 billion more than previously...
- The bank said that it is helping people to hold off the devastation of climate change
- It has earmarked the financing for the fiscal year that runs from July 1, 2024, to June 30, 2025
Business
Dubai Taxi IPO raises US$315m
It received more than US$41 billion in investor orders.
- The IPO will result in total gross proceeds of approximately US$ 315 million being paid to the Department of Finance, representing the Dubai government
- DTC said the previously announced offering size consists of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital
Economy
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
- The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
- The two leaders exchanged views on regional and international developments and a number of other issues