Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
Infographics
High commodity prices to keep inflation up
IMF has said food prices accounted for about 60 percent of last year’s increase in headline inflation in the MENA...
- The war in Ukraine and related sanctions have triggered a sharp increase in commodity prices.
- After leaping to a peak of $130 per barrel following Russia’s invasion, oil prices are expected to settle at an annual average of around $107 in 2022.
Economy
CEPA with India, Israel, Indonesia to help UAE economic growth
The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...
- Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
- The UAE is holding talks with several other countries for signing similar agreements
Business
Turkish Airlines flights at pre-pandemic conditions
Turkish Airlines has announced that flights to Saudi Arabia have resumed to pre-pandemic conditions and Saudi citizens will now be...
- Turkish Airlines announces that flights to Saudi Arabia have resumed to pre-pandemic levels
- The airlines said that from June 20, 2022 the restrictions set by Türkiye due to COVID-19 has been lifted
Geostrategy
‘Displaced in Iraq to return to their homes by end of 2023’
The UNDP confirmed the implementation of 3,800 projects in five liberated Iraqi governorates and said that it is helping five...
- The UNDP said five million internally displaced persons in Iraq will be sent back to their areas
- The organization said 3,800 projects are being implemented in five liberated Iraqi governorates
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.
Business
Dubai Customs’ department carries out nearly 62,000 inspections in Q1
The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first...
- The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first quarter of 2022.
- The smart scanning systems developed by Dubai Customs has increased the rate of identifying suspicious shipments.
Business
DEWA produces 700MW more energy, capacity rises to 14,117MW
DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD...
- DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD and CEO of DEWA said
- Al Tayer revealed that the clean energy share in Dubai’s energy mix has reached 11.5 percent and is expected to reach 14 percent by the end of 2022
Business
Emrill appoints new director
The company intends to speed up growth in the GCC.
- Johnson will be responsible for building and developing the organization's strategic vision and accelerating growth across Emrill’s key services in the UAE and the wider GCC region
- With over 25 years of senior management experience, Johnson has held managerial roles in the UAE, UK, Europe, and Australia
Business
Al Bateen ladies’ beach in Abu Dhabi to be given makeover
Al Bateen ladies' beach in Abu Dhabi will be redeveloped with public amenities in order to brighten its appeal as...
- The beach covers more than 36,580 sqm and will feature a restaurant, cafes, a prayer room and a convenience store
- The beach will be temporarily closed from 4th July until its completion in the second quarter of 2023
Economy
Oil prices may hit $380 a barrel if Russia lowers crude output
Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the...
- According to JPMorgan analysts currently Russia enjoys a strong financial position and it can afford to slash daily crude production by 5 million barrels
- It was after Russia’s invasion of Ukraine that the Western allies led by the US imposed several sanctions, and worked out a complicated mechanism to cap the price fetched by Russia
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
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
Company News
Latest News
Dubai races ahead to be global epicenter for crypto
While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital...
Business
Saudi communications ministry inks MoU with Huawei
Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a...
Business
Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul
The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.
Economy
Most Read
Infographics
Abu Dhabi, Dubai gain as realty prices rise in UAE
The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since...
- The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since 2011, says a latest report
- In November, the off-plan market witnessed the highest value of transactions in a decade by recording AED 12.7 billion for the first time
Business
DEWA approves special $552m dividend
The record date for the dividend is 22 Dec. 2022.
- DEWA, which is listed on the Dubai Financial Market, held its second general assembly for 2022 under the chairmanship of Matar Humaid Al Tayer, Chairman of the Board of Directors.
- “This dividend yield is more attractive than most companies listed on the ADX, DFM, and Tadawul, as well as other global utility companies,” said Al Tayer.
Business
TotalEnergies to start drilling in offshore Lebanese gas project in 2023
Paris, France--- French energy giant TotalEnergies said Monday that several teams were working in collaboration with the Lebanese Petroleum Administration...
- TotalEnergies owns 60 percent of Block 9 and its partner in the project, Eni, the remaining 40 percent.
- Block 9 is within the territorial waters of Lebanon, which reached a maritime agreement with Israel.