Dubai real estate market records $925 million in daylong transactions
Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210...
Business
Business
Qatar and Czech Republic sign deal to prevent tax evasion
Qatar has entered into an agreement with the Czech Republic to avoid double taxation on income tax and to prevent...
- The deal was signed by Minister of Finance Ali bin Ahmed Al Kuwari of Qatar and Minister of Finance Zbynek Stanjura of the Czech Republic
- The agreement comprises items related to the field of maritime and air transport and joint projects
Geostrategy
Saudi crown prince, Jordan king meet amid thaw in ties
Saudi Crown Prince Mohammed bin Salman met with Jordan's King Abdullah in Amman on Tuesday to discuss regional and international...
- The tour of the Saudi Crown Prince acquires special significance as it comes before a planned Arab-American summit in July which Saudi Arabia will host
- The visit to Jordan comes at a time when Jordan's economy is struggling with the economic knock-on effects of the Ukraine war
Opinion
Equality in economic recovery among countries crucial
The international community must adopt an approach that could translate words and goodwill into practical steps that could achieve equality...
- The positive health indicators have risen after lifting restrictions, recovery of trade flow, increase in public spending and rise in global demand at all levels, says Qatar's emir
- However, the confusion that has impacted the supply chains is still among major factors that drive up prices, Sheikh Tamim bin Hamad Al-Thani highlights at the QEF 2022
Economy
UAE’s FRC forms council for financial reorganization
UAE's Financial Restructuring Committee has formed a Consultative Council to provide an open discussion forum between the FRC and experts...
- Consultative Council has been formed to provide an interactive relation between FRC and the community
- The Council will discuss and provide advice on financial reorganization and bankruptcy
Business
Oman Air to be a part of Oneworld alliance by 2024
Oman Air's joining will add new destinations to the Oneworld network including Duqm and Khasab in Oman and Chittagong (Bangladesh).
- Oman Air's entry into Oneworld will provide more flights and destinations to customers planning global travel across the alliance's members.
- It makes Oneworld the only global airline alliance with three members in the Middle East after Qatar Airways and Royal Jordanian.
Business
Global personal luxury goods market hits US$300bn
The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the...
- Global personal luxury goods experienced a remarkable performance in the first quarter 2022
- Luxury brands enjoyed growth from a strong holiday shopping season, maintain momentum in the US
Economy
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...
- The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
- The strategy will help the country develop a diversified, self-sufficient and sustainable economy
Business
UAE, Israel export credit agencies to back Ghana healthcare project
Etihad Credit Insurance (ECI) and Israel Export Insurance Corporation have entered into an agreement under which ECI will provide buyer’s...
- The project involves construction of four healthcare facilities in Ghana, including a general hospital in the country's largest port city, Tema.
- The agreement is related to the first Public-Private Partnership project between the UAE and Israel after the signing of the historic Abraham Accords in September 2020.
Business
Three companies to buy Masdar stakes
TAQA, ADNOC, and Mubadala enter binding agreements worth $1.9bn.
- The agreements will see TAQA acquire a 43 percent controlling stake in Masdar's renewables business, with Mubadala retaining a 33 percent interest and ADNOC 24 percent.
- ADNOC will hold a 43 percent controlling stake in Masdar's new green hydrogen joint venture, Mubadala will retain a 33 percent interest and TAQA a 24 percent effective stake.
Geostrategy
Jordan ranks 57, improves position in Global Peace Index
Jordan strengthened its position on several security indicators, especially on the crime rates in society and the indicator of security...
- Jordan moved up for the third year in a row on the Global Peace Index in 2022 to be ranked third in the Arab world
- The Kingdom was ranked third among the countries in the MENA region, in 2021 it was fourth
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
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‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
Business
Saudi Central Bank licenses debt-based crowdfunding finance firm Manafa
Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom....
Business
Dubai records over $462 million in real estate transactions: DLD
Dubai, UAE--- Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Thursday, according to Dubai Land Department....
Business
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Geostrategy
Lebanon parliament fails to elect president for the ninth time
Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear...
- Hezbollah opponent Michel Moawad, who is seen as close to the United States, won the support of 39 MPs but fell well short of the required majority.
- Moawad's candidacy is opposed by Hezbollah, whose leader Hassan Nasrallah called last month for a president ready to stand up to Washington.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Geostrategy
Netanyahu secures parliament majority, closer to forming govt
Some Israeli political analysts had forecast that Netanyahu would move to announce a coalition days after receiving his mandate from...
- In Israel's fifth election in less than four years, held on November 1, Netanyahu's right-wing alliance triumphed with ease
- Although a final coalition agreement has not yet been signed, the agreement with Shas gives Netanyahu control over 64 of the 120 seats in the Knesset