Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...
Business
Geostrategy
Ahead of food security meet, WTO chief ‘cautiously optimistic’
The WTO is hoping to keep criticism of Russia's war in Ukraine to the first day of talks, when many...
- With its first ministerial meeting in years, the WTO faces pressure to finally eke out long-sought trade deals and show unity.
- EU's Valdis Dombrovskis said the bloc is "working hard with all the members to prepare a multilateral food security package".
The Archives
Kuwait’s oil ministry completes digital archive project
Kuwait's oil ministry project digitalized the country's oil archive making all documents, photos, books and magazines easily accessible
- The ministry's project digitalized Kuwait's oil archive making all documents, photos, books and magazines easily accessible
- All the documents could be accessed via the ministry's official website in both Arabic and English
Interview
Qatar Economic Forum highlights country’s role
The forum reflects the strategic position of Qatar as an influential economic player and as a bridge for communication and...
- Qatar Economic Forum reflects the country's status as an influential economic player
- The forum reflects Qatar's keenness to enhance international cooperation to achieve a just economic recovery
Business
Saudi telco to raise capital by 150%
Bonus shares to be granted by capitalizing $7.9 bn from retained earnings.
- Shareholders will be granted 1.5 shares for every share at the time of maturity.
- Prince Mohammad bin Khalid Al-Abdullah Al-Faisal, Chairman of the Board of Directors, said the capital increase is the largest in the history of Saudi market.
Business
UAE and Uzbekistan extend strategic partnership for three years
The UAE and Uzbekistan have pushed for a new phase of their strategic partnership for government modernization to promote the...
- Areas of cooperation in the strategic partnership agreement have been updated to include the financial sector, education sector, economy, government leadership, and food security
- The expanded strategic partnership signed by the UAE and Uzbekistan covers 27 sectors, involving initiatives in government modernization to benefit from the UAE’s experience
Arts & Culture
‘Stan Lee Super Con’ exhibition begins in Jeddah, woos fans of superheroes
The activities of the 'Stan Lee Super Con 2022' exhibition begins in Jeddah Superdome in the presence of a number...
- 'Stan Lee Super Con 2022' exhibition kicks off in Jeddah Superdome in the presence of a number of Hollywood stars
- There was a large turnout on the first day from fans of international comic characters and visitors
Economy
Kuwait keen on supporting IFAD for progress, says official
Kuwait is keen on supporting efforts by the International Fund for Agriculture Development to feed the poor and aid progress...
- Kuwait and Saudi Arabia had helped established IFAD in 1977
- IFAD's aim is to help impoverished and hunger-stricken regions in the world
Geostrategy
OPEC Fund to provide US$40m loan to Kosovo for reforms
The OPEC Fund for International Development will improve fiscal transparency, promote private sector development and enable environmental reforms
- The comprehensive plan will improve fiscal transparency, promote private sector development
- The plan will enable environmental reforms in the energy and waste management sectors
Economy
Jordan’s Economic Modernization Vision to simplify tax rules
Jordan's Economic Modernization Vision has proposed ways to simplify customs, taxes and shipping regulations for trade and retail business
- The vision focuses on the trade sector as a top national priority due to its contribution to the GDP
- The vision is set to be implemented in three phases over the next 10 years
Business
One billion ADNOC Rewards points redeemed in one month
The UAE’s first fuel retail loyalty program continues to grow membership base, evolves towards targeted segmentation.
- The UAE’s first fuel retail loyalty program continues to grow membership base, evolves towards targeted segmentation
- ADNOC Rewards has delivered tailored offers to suit customer habits and needs; introducing a strong partnership program with 83 affiliates including Etihad Guest and Etisalat Smile
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
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...
Business
Company News
Latest News
TAQA posts 53% income rise
Business
Debt-service payments from IDA’s countries to top $62bn in 2022: World Bank
The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.
Economy
S&P Global says Egypt non-oil businesses contract in November
Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
Economy
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
Economy
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Economy
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
- ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
- The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
- The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
- The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Business
ADNOC signs catering deals worth $272m
Four Abu Dhabi firms will provide services to ADNOC companies from 2022-27.
- More than 50 percent of the value from the four contracts will flow back into the UAE economy, as part of ADNOC’s In-Country Value (ICV) programme, ADNOC said.
- Royal Catering, Apex National Catering, National Corporation for Tourism & Hotels (NCT&H) and Sodexo Kelvin have been awarded the contracts.