GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
Geostrategy
US to impose ‘further costs’ on Iran over protests crackdown
Widespread street demonstrations sparked by the death of Mahsa Amini, 22, who died following her detention by morality police for...
- Iran has been under crippling US economic sanctions largely related to its controversial nuclear program which Tehran insists has only civilian purposes
- Biden said that he was concerned about reports of the violent crackdown on peaceful protestors in Iran, including students and women
Economy
World Bank okays $400m project to help Egypt decarbonise freight railway
The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub.
- The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub
- It will significantly contribute to Egypt's 2050 Climate Change plan, given the expected reductions in greenhouse gas emissions
Business
GCC needs US$60-85bn for sustainable waste management: study
It will take $60-85 billion for the GCC to put in place a modern recycling system for waste management, according...
- This investment would cover design, collection, sorting, and recycling investment across these four key waste streams
- The GCC generates between 105 and 130 million tons of waste per annum, primarily from Municipal Solid Waste (MSW), Construction and Demolition Waste (CDW), and agricultural waste
Business
Qatar ports TEU records one percent growth in September
Doha, Qatar - The Qatar Ports Management Company (Mwani Qatar) said it received 123,000 TEUs in September- a one percent...
- Mwani Qatar stated it received 276 ships in September, registering a three percent increase.
- It said cars and equipment recorded 6048 units, and the number of livestock recorded was 6499.
Infographics
Qatar wealthiest, UAE happiest in Arab world
The world's richest countries have the highest happiness scores, which probably explains why Lebanon, facing its worst-ever economic crisis, ranks...
- The World Happiness Report 2022 has ranked Finland as the happiest and Afghanistan as the unhappiest in the world.
- Happiness has now become a key metric to track the performance of countries and corporate offices as well.
Geostrategy
IMF, GCC agree Middle East reforms dialogue must continue: Georgieva
At the end of her two-day visit to Saudi Arabia, she hailed the kingdom's strong “economic performance and impressive progress...
- Georgieva also hailed the kingdom’s role in supporting countries in the region and “vulnerable countries more broadly that have been impacted by multiple shocks.
- The IMF chief said she held "inspiring discussions with impressive Saudi women who have played a leading role in reducing inequalities and supporting Saudi's economic growth".
Geostrategy
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
- The meeting was held in Indonesia and sought to discuss key global economic issues.
- G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
Economy
UAE Ministry of Emiratization launches Customer First forum
UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
- The Customer First Forum aims to take feedback of all parties on the labor market legislations.
- It also seeks to enhance direct communications between the ministry and the private sector.
Business
DP World launches GBC to support growth plans of large companies
Dubai, UAE--- DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies...
- The GBC can provide business set-up and licensing -or large companies that wish to set up a limited liability entity or branch in Dubai.
- A GBC licence permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise.
Economy
Number of visitors to Qatar rise by 138.3% in August
The highest number of visitors was from the GCC countries at 59 percent.
- The highest number of visitors was from the GCC countries at 59 percent
- As for visitors by type of port, the visitors via Air make up the highest percentage
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Latest News
Archer to launch its all-electric air taxi service across UAE
ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
Business
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
UAE invests $36bn in renewable energy projects in 2022, says ADDED chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
Economy
Most Read
Business
SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
- The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund Annual Meetings in Morocco.
- The US$20 million loan agreement aims to finance development projects in CAR, including the establishment of a 250-bed hospital.
Business
Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT
RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...
- Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics.
- Manufacturing activities recorded nearly US$378 billion revenues, followed by the wholesale and retail trade at US$201 billion.
Business
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
- A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.