Qatar Chamber and International Labour Organization look to boost ties
Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor,...
Economy
Economy
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...
- Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
- During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
Geostrategy
Syrian foreign minister visits Algeria to boost ties
Algiers, Algeria-- Syrian Foreign Minister Faisal Mekdad arrived in Algeria on Saturday, Algerian state radio reported late on Friday, a...
- According to Algerian state radio, the visiting foreign minister was welcomed by Ahmed Ataf, Algerian foreign minister
- Faisal Mekdad arrived in Saudi Arabia on Wednesday, in the first such trip since civil war broke out in Syria in 2011
Business
Presight signs MoU with Senegal for digital transformation in African nation
Abu Dhabi, UAE--Presight AI and the Ministry of Communication, Telecommunications and Digital Economy of the Republic of Senegal (MCTEN), have...
- In order to transform government services, Presight will work with Senegal to support and deliver turnkey solutions using big data analytics and AI technology
- The agreement is expected to boost governemnt efficiency, create a better business environment, and promote socio-economic development in the country.
Economy
UAE banks provide US$9.61bn in credit facilities to industrial sector
Abu Dhabi, UAE--Credit facilities provided by national banks to the business and industrial sector rose 5.2 percent on a YoY...
- The cumulative balance of credit extended by national banks to the sector grew to $196 bn by the end of January 2023 from $186.52 billion in the month of January 2022
- Domestic credit extended by national banks to the sector in the emirates of Abu Dhabi and Dubai in the period under review stood at $97.20 bn and $94.07 billion respectively
Economy
Dubai sees heavy influx of medical tourists in 2022, spending US$270m
DUBAI, UAEI--Dubai saw remarkable growth in medical tourism in 2022 with 674,000 medical tourists spending $270 million in the year....
- Some 39 percent patients came from Asian countries, 22 percent from Europe and the Commonwealth of Independent States, and 21 percent from Arab and the GCC
- The head of Dubai Health Authority attributed the arrival of medical tourists to the city's ability to provide quality acre, making it the top healthcare destination
e&’s board declares dividend
The dividend for H2 of 2022 will be at AED 0.4 per share.
- The chairman said the group's core businesses have posted solid performance even as mergers and acquisitons have contributed to the company's success
- The consolidated revenue at $14.26 billion and a record net profit of $2.72 billion strengthened the company's financial performance during the year
Economy
UAE and Malta sign MoUs to deepen ties in maritime, sports fields
Abu Dhabi, UAE-- The UAE and Malta have signed three memoranda of understanding in areas of maritime affairs, youth, and...
- The two ministers discussed ways of deepening cooperation and partnership between the two countries
- The foreign minister of Malta expressed hope to build bilateral relations with the UAE in various field while applauding the UAE's achievements
Economy
Egypt sees growth in financial inclusion, touches 65% of adult population
Cairo, Egypt-- Egypt's financial inclusion has widened as total ownership of transactional accounts reached 64.8 percent of the total 65.4...
- The country's financial inclusion rose 147 percent between 2016 and 2022 to 42.3 million citizens who own and use transactional accounts
- Mobile wallets and prepaid cards primarily led to the increase, growing by 54 percent and 31 percent respectively
Business
Dubai Customs to collaborate with Global Innovation Institute to boost services
Dubai, UAE--Dubai Customs has discussed with the Global Innovation Institute (GInI) how they can further enhance their customs services and...
- Dr. Hussam Jumaa said Dubai Customs' strove to achieve the best results in creativity and innovation, stating that innovation has become a solid corporate culture for them
- By obtaining the Innovative Organization certification, Dubai Customs has become the first customs institution in the UAE and the Middle East to obtain the recognition
Business
Ras Al Khaimah Economic Zone attracts 1,839 companies in Q1
Ras Al Khaimah, UAE--Ras Al Khaimah Economic Zone (RAKEZ) brought in 1,839 new companies in the first quarter of 2023,...
- RAKEZ CEO said the reason companies choose the zone was because of its innovative business solutions and aiding enterprises of diverse types
- The economic zone also posted high growth in sectors like services, e-commerce, and media companies, highlighting its diverse business landscape
Qatar Chamber and International Labour Organization look to boost ties
Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor,...
Economy
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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...
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...
COP28 UAE
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Business
ENOC and Neste sign MoU to drive sustainable aviation fuel initiatives
Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel...
- The partnership is the first step in ENOC’s plan to supply blended SAF to all its customers across its entire network by 2030
- The fuel taken from renewable raw materials has the potential to reduce air travel related carbon emissions by up to 80%
Economy
Iran’s exports to African countries register 185 percent growth
Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185...
- The Islamic Republic's exports to Africa from March 21 to October 22, 2023 showed a more than 185 percent growth
- According to an Iranian official, the country would witness $5bn worth of trade with Africa in the next few years
Business
CBUAE and People’s Bank of China renew currency-swap agreement
Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) and the People’s Bank of China today signed an agreement to...
- The agreement is expected to boost the strategic partnership between the UAE and China as well as expand the ties in the financial and economic fields
- With a nominal value of $4.90 billion, the renewal of the agreement aims to promote financial ties by facilitating the provision of liquidity in local currency to financial markets