‘Visa-free entry for GCC nationals will enhance business collaboration’
In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
Science
Continuous effort required to protect ozone layer, says UNEP
The UNEP noted a global temperature rise of 2.5C was possible if the ozone-depleting chemicals weren't banned, which would have...
- The United Nations Environment Program (UNEP) praised the Protocol’s success, as it ended the danger of ozone layer's depletion, a threat for humanity.
- It said the global cooperation worked, and the gases were eliminated. This healed the ozone layer which would save earth from sun's ultraviolet radiations.
Business
Jebel Ali Free Zone propels automotive markets growth
Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million...
- Jebel Ali Free Zone (Jafza) logistics infrastructure and global trade network have connected African, Asian and Middle Eastern traders to consumers globally.
- With companies from 70 countries and a workforce of nearly 8,000, Jafza’s infrastructure and trade volumes are an attraction for industry giants.
Geostrategy
Saudi Arabia, Oman ministers discuss industrial cooperation
Oman Minister of Commerce along with a delegation met Saudi Arabia Minister of Industry where the two discussed industrial cooperation...
- The two sides deliberated on Saudi Arabia's experience in managing and operating industrial cities.
- The two sides discussed Made in Saudi program and the financing aspects.
Geostrategy
World Green Economy Summit to discuss food security
The eighth World Green Economy Summit (WGES) will explore ways to improve global food security, sustainability of the food systems...
- WGES brings together global decision-makers and influencers to share their experiences to mitigate global food crises.
- The UAE plays a crucial role in addressing the issues relating to global food security.
Geostrategy
UAE, Uruguay discuss cooperation in various fields
Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed with Uruguay's Minister of Livestock, Agriculture and Fisheries Fernando...
- The Speaker of the Federal National Council is leading a UAE parliamentary delegation on an official visit to Latin America from September 12 to 22.
- The 10-day tour includes Brazil, Uruguay, Paraguay and Colombia and aims to promote strategic partnerships with the UAE.
Business
US to provide US$1.45bn per year in assistance to Jordan
The US will provide $1.45 billion per year in bilateral foreign assistance to Jordan, from 2023 to 2029.
- The United States supports providing $1.45 billion per year in U.S. bilateral foreign assistance to Jordan beginning in 2023 and ending in 2029
- According to the US State Department, the MOU represents a major commitment to Jordan’s stability and the durability of the strategic partnership
Economy
World Bank warns of risk of global recession in 2023
A major factor in bringing the world to this pass is the simultaneously hike in interest rates by central banks...
- A major factor in bringing the world to this pass is the simultaneous hike in interest rates by central banks across the world to tame the inflation, the World Bank said
- The study relies on insights from previous global recessions to analyze the recent evolution of economic activity and presents scenarios for 2022–24
Economy
Egypt remittances drop 14.7% to US$2.38 billion in July
The drop comes as the exchange rate of the Egyptian pound is seeing a decline in light of the pressures...
- Remittances from Egyptians working abroad are one of the most important sources of foreign exchange for the country, along with tourism, the Suez Canal, and exports
- Expatriate remittances have increased since Egypt liberalized its currency exchange rate in November 2016 as part of economic reforms
Geostrategy
UAE FM meets Israeli Finance Minister, discusses economic cooperation
Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a...
- Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a model for constructive cooperation
- Lieberman welcomed the visit of Sheikh Abdullah and his accompanying delegation, stressing the importance of this visit in strengthening bilateral relations
Business
Lazard hires Citi Saudi CEO
Al-Khatib will support the firm’s operations in MENA.
- Citigroup confirmed Al-Khatib's resignation and said that Carmen Haddad will be taking over as acting CEO
- The Saudi national was a leading figure in Saudi Aramco's initial public offering in 2019, the biggest ever share sale that raised almost $30 billion
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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
‘Visa-free entry for GCC nationals will enhance business collaboration’
In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
Company News
Latest News
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
Iraqi Trade Center to be launched at ACC’s headquarters in Jordan
AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
Business
Qatar Credit Bureau, Supreme Judicial Council to share data
DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to...
Geostrategy
Most Read
Business
Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
- SAIPA is planning to supply 90,000 units of the QUIK sedan model to Russian customers in the next three years.
- Exports can start within a month and after the required permits are issued by Russian authorities.
Business
ICIEC, SAPICO ink pact
Pact to enhance commercial activities between the two.
- The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
- This partnership aligns with both parties' shared vision of fostering international trade and economic development.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.