Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
Economy
Saudi youth programs aim at raising manpower in economics, public policy
Saudi Arabia has launched new youth programs aimed at raising the number of qualified manpower in the field of economics,...
- The programs seek to reduce the gap between the skills required in the field of economy and the requirements of the labor market.
- This initiative included the launch of the "Scholarship Advantages" program for students who have been accepted for scholarships in economics, public policy and social sciences.
Economy
Abu Dhabi non-oil foreign trade $33.75 billion in first half of 2022
The value of the trade-in commodities from normal metals and their products increased to AED24.51 billion, with a growth rate...
- Exports during the first six months of this year increased to 26 percent, at a value of AED49 billion and 479 million, compared to AED39.19 billion in 2021.
- The trade with Saudi Arabia was the highest at AED28.63 billion, with a growth rate of three percent compared to AED27.90 billion recorded during the same period in 2021.
Economy
Ajman Chamber urges members to diversify investments
The ACCI witnessed the signing of a strategic partnership agreement to supply rosewater between Lavish Perfumes with Lecheq Farm Distillery...
- The Ajman Chamber of Commerce and Industry wants members to increase the volume of intra-trade.
- The Chamber also wants members to strengthen international relations between business owners in Ajman and their outside counterparts
Economy
Foreign exchange reserves up at $82bn, says Iraq’s Central Bank
Central Bank of Iraq announced that foreign exchange reserves rose to US$82 billion, while gold reserves exceeded 130 tons.
- Iraq's Central Bank says that its gold reserves exceed 130 tons
- Among the countries with the most gold, Iraq has now reached 30 position
Business
SEWA completes 10-km natural gas line to Al Zubair district
Sharjah Electricity, Water and Gas Authority (SEWA) has completed the implementation of a 10-km line project to connect the natural...
- The natural gas network and pumping stations operate according to the best technical specification, said Amna bin Hadda, Director of the Natural Gas Department.
- She added that the SEWA is keen to encourage the residents of Sharjah to use natural gas as compared to using liquefied gas cylinders.
Saudi Central Bank launches POS between Saudi Arabia, Qatar
Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries...
- Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries through the Gulf Payments Network.
- The central bank added in its statement that GCCNET enables GCC bank customers to execute ATM cash withdrawals in the host country’s local currency
Business
Emaar Properties buys Dubai Creek Harbour for $2 billion
Emaar Properties announced Thursday it would fully acquire Dubai Creek Harbour, the major development located along the historic Dubai Creek...
- It is expected that Emaar will profit from 100 million square feet of future development at Dubai Creek Harbour.
- Emaar recorded sales of AED 4.2 billion in 2021 and AED 3.6 billion sales in Dubai Creek Harbour in the first half of 2022
Geostrategy
US continues mediation in Lebanon-Israel maritime border dispute
“Progress towards a resolution can only be reached through negotiation by the two governments,” State Department spokesperson Vedant Patel said.
- “Progress towards a resolution can only be reached through negotiation by the two governments,” State Department spokesperson Vedant Patel said
- Lebanon and Israel are located in the Levant Basin, where a number of big sub-sea gas fields have been discovered since 2009
Geostrategy
US National Security Advisor makes phone call to Kuwaiti PM
During the conversation, the two sides discussed the partnership between the US and Kuwait, regional security.
- During the conversation, the two sides discussed the partnership between the US and Kuwait, regional security
- In a statement, the US NSA said the two leaders discussed the need to turn the UN-mediated truce in Yemen into a lasting settlement
Geostrategy
Qatar renews call for nuclear-free Middle East
The establishment of nuclear-free zones is a key step to boost non-proliferation system and achieve a full nuclear disarmament, says...
- The establishment of nuclear-free zones is a key step to boost non-proliferation system and achieve a full nuclear disarmament, says a top Qatari official
- Over the past decades, five nuclear weapon-free zones have been established that include the commitment of the signatories not to possess nuke arms
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Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
Company News
Latest News
ADFD finances US$30m sustainable water project in Mauritania
ABU DHABI, UAE - Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Mauritania to...
Geostrategy
UAE Federal Treasury Sukuk Program appoints ADIB as primary dealer
ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary...
Economy
Iraqi PM, Lebanese minister discuss economic cooperation
BAGHDAD, IRAQ - Iraq Prime Minister Muhammad Shia'a Al-Sudani said that the country is continuing regional economic communication. A statement...
Geostrategy
Most Read
Business
UAE delegation explores investment opportunities in US
“The United States is a long-standing trade and investment partner for the UAE – and an important ally in the...
- The delegation held multiple meetings with leading Austin-based start-ups, deploying technologies such as AI, blockchain and quantum computing.
- UAE minister Thani bin Ahmed Al Zeyoudi highlighted UAE’s unique innovation ecosystem during his meetings with US businesses.
Geostrategy
Iran, Syria pledge to strengthen ties, develop economic relations
During late-night talks Thursday, Raisi and his Syrian counterpart Bashar al-Assad discussed "ways to develop and strengthen bilateral relations" and...
- Tehran has been a key ally to Damascus throughout Syria's long-running war, offering vital economic and military assistance.
- Raisi concluded his two-day trip early Friday and had described the visit as a "turning point" in the neighbors' bilateral relations.
Geostrategy
UAE, Switzerland discuss enhancing bilateral relations
BERN, SWITZERLAND - The UAE discussed bolstering strategic relations and cooperation in various development, economic and financial fields of common...
- A UAE minister said financial dialogue offers opportunities for collaboration between both countries to achieve further growth and prosperity.
- He also mentioned that the global economy went through fast developments since both parties last met in Abu Dhabi in March 2022.