Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Economy
Jordan to amend General Sales Tax Law to curb tax evasion
Senate Finance and Economic Committee has approved a slew of amendments to the Jordanian General Sales Tax Law 2021, referred...
- According to Jamal Sarayrah, head of the committee, amendments seek to bring about adherence to tax payment and reduction in tax evasion
- The committee will develop a set of recommendations on the the draft law, which would then be submitted to Senate's presidency for deliberation
Industries Qatar H1 profit up 57%
The company’s year-on-year net profit jumped to $1.5 billion.
- The company’s year-on-year net profit jumped to $1.5 billion
- Earnings per share amounted to $0.24 in the first half of the year
Business
ADNOC Distribution H1 profit is $0.27 bn
The company recorded an EBITDA of US$0.54 billion.
- The company witnessed year-on-year growth in total fuel volumes, up 9 percent in H1 2022 compared to H1 2021
- Its corporate fuel volumes recorded sustained growth with a 27 percent year-on-year increase, underpinned by the UAE's economic growth
Business
Jordan real estate trade grows by 20% to $4.41 billion
Jordan has posted a twenty percent rise in real estate trade to $4.41 billion during the first seven months of...
- Jordan's revenue from the real estate market stood at $200 million in the January-July period of 2022, a 33-percent increase from the figure reported in 2021
- In July alone the trade volume went up by 40 percent, touching $695 million
Jordan puts up draft national AI strategy for public debate
The draft has been formulated in collaboration with experts from the European Union, the United Nations Economic and Social Commission...
- The draft has been formulated in collaboration with experts from the European Union, the United Nations Economic and Social Commission for Western Asia, and the UNIDO
- The strategy aims to create a regulatory environment that encourages the responsible use of AI and its applications to improve the efficiency of the public sector
Business
Jordan cabinet meeting debates implementation of reform plan
A cabinet meeting in Jordan discussed ways of implementing the "roadmap" in accordance with the time frame set by the...
- Nasser Shraideh, the Minister of Planning and International Cooperation, briefed the Cabinet on the proposed work methods and mechanisms for implementing the roadmap
- The Cabinet endorsed the Industry Support and Development Fund Regulations for 2022 that would establish the Support and Development of Industry
Economy
Oil prices down by 10% as US stockpiles increase
A rise in US stockpiles was partly responsible for a 10 percent drop in the commodity last week.
- A rise in US stockpiles was partly responsible for a 10 percent drop in the commodity last week
- Oil prices got support after OPEC+ decision of increase in production starting next September, by 100,000 barrel per day
Business
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022.
- The company's earnings per share (EPS) amounted to QR 0.110 as of June 30 this year as against QR 0.052 for the same period in 2021
- QAMCO, a Qatari Public Shareholding Company, capital amounts to $1.60 billion
Business
QIG’s H1 profit surges 71.5%
The group announced earnings per share of 0.10 riyal.
- The group said that earnings per share amounted to 0.10 riyal in H1 2022, compared to 0.05 riyal last year
- The Qatari Investors Group was established in 2006, and its capital is about 1.243 billion riyals
Business
Dubai to be pitched as global hub for creative economy
The agreement between the two will see them both offering services to help set up new businesses in creative economy...
- The partnership will aim to double the creative industries’ contribution to Dubai’s GDP to five percent
- It will provide creative businesses with special incentives, such as creative activities, logistics, consultation, banking solutions and services
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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
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Company News
Latest News
Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr...
Geostrategy
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
Business
UAE minister stresses G20 and COP28 collaboration at WBG meet
The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent...
Economy
Most Read
Science
UAE’s Rashid Rover to land on Moon on April 25
The Mohammed Bin Rashid Space Center in UAE said that Rashid Rover, onboard the HAKUTO-R Mission 1 Lunar Lander, is...
- During the landing sequence, the Lander will perform a braking burn, firing its main propulsion system to decelerate from orbit.
- Utilizing a series of pre-set commands, the Lander will adjust its altitude and reduce velocity to make a soft landing.
Business
Abu Dhabi QCC drives emirate’s infrastructure development in 2022: Report
Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of...
- In 2022, the Council approved 26 new technical documents, reviewed 22 draft specifications and technical regulations.
- The report said that the council has conducted over 5 million laboratory examinations since 2014, 606 main services and over 2,394 sub-examinations.
Economy
UAE’s global merchandise trade crossed $1trn mark in 2022: WTO
Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...
- Exports grew 41 pecent to $599 billion in 2022, accounting for 2.4 percent of the global merchandise exports share
- The UAE ranked 11th in terms of exports of commodities and was the 18th importer of global merchandise goods trade