Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Dubai economy would grow 5 percent this year: Al Ghurair
Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...
Economy
Economy
Iran-EU trade posts 9.2% drop to US$847mn in first two months of 2023
Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering...
- Eurostat data shows Germany was the top trading partner of Iran in the EU region during the period, as the two countries exchanged $279 million worth of goods
- The Islamic Republic exports to the EU jumped to $1.08 billion in 2022 as against $904 million in the same period of last year
Geostrategy
Jordan’s king seeks deeper partnership with US in ‘various fields’
Amman, Jordan--Expressing his deep appreciation of the United States for its support to Jordan, King Abdullah has called for strengthening...
- Both the sides pledged to deepen the historic friendship and strategic partnership between Jordan and the US, and to widen ties in various fields
- The king maintained that a restart in negotiations between the Palestinians and the Israelis was critical in order to reach just and comprehensive peace in the region
Geostrategy
Jordan’s exports to EU nations in January, February 2023 rose to US$87m
AMMAN, JORDAN - Value of Jordanian exports to European Union countries increased during January-February period of 2023, by 108.5 percent...
- Jordan's imports from the EU nations in January, February 2023 rose to reach US$671 million.
- Trade exchange between Jordan and EU countries in January, February 2023 amounted to about US$758 million.
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
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Company News
EITC Q3 profit soars 57.7%
Business
Latest News
UAE and Turkmenistan pledge to ramp up ties ‘in all fields’
Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
COP28 UAE
UAE president and UN chief discuss ‘collective action’ to address climate challenges
Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference...
COP28 UAE
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
COP28 UAE
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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...
- Earlier this month RedBird IMI announced that it will take control of The Daily and Sunday Telegraph sister newspapers and The Spectator magazine
- The Abu Dhabi-backed investment fund said a $762-million "package of loans" will fully repay the debts owed, allowing the media group to be taken out of receivership
Geostrategy
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...
- Flags will adorn Dubai’s shopping malls, skyscrapers and beaches will be draped in hues of black, red, white and green for Union Day
- The founder’s memorial, a permanent tribute to the late founding father Sheikh Zayed bin Sultan, will mark the country's 52nd Union Day
COP28 UAE
Masdar ties up with RWE in US$14bn investment to develop wind projects in UK
Dubai, UAE--Abu Dhabi Future Energy Company, also known as Masdar, is part of a $14 billion investment into the UK’s...
- The $14 billion investment is expected to shore up the UK economy and also demonstrate the UAE’s long-term commitment to supporting net-zero goals in Britain
- The new project will generate enough power to light up to three million UK homes and is expected to create 2,000 jobs during construction, and a thousand more later