Investment in Qatar free zones reaches US$1.3bn, says QFZ chairmanÂ
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business
Qatar Central Bank issues treasury bills, sukuk worth US$686m
DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
Economy
Geostrategy
FIFA says Israeli citizens can travel to Qatar World Cup
Israeli citizens will be allowed to travel to Qatar to watch football's 2022 World Cup, despite the absence of diplomatic...
- Qatar does not have diplomatic ties with Israel. It supports Hamas and cut commercial ties with Israel in 2009.
- The two countries had established commercial relations in 1996, when then Israeli prime minister Shimon Peres visited Qatar's capital Doha.
Business
Savola Foods buys Egybelg
The Saudi firm plans to invest $91m in Egypt.
- Savola will allocate 730 million pounds toward rehabilitating the newly acquired firm and up to 400 million pounds to upgrade factories and raise production capacity
- With three factories across Egypt and five production lines, Cairo-based Egybelg manufactures and distributes bakery goods
Economy
UAE, Philippines ink pact on mutual promotion, protection of investments
Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration.
- Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration
- The agreement also provides compensation for the investor if his investments are destroyed as a result of wars, conflicts, civil disobedience, or demonstrations
Economy
GCC, Korea discuss intra-trade during FTA talks
The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between...
- The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between the two sides
- Head of the GCC Negotiating Team, Abdurrahman bin Ahmed Al-Harbi stated that the agreements follow the directives of the leaders of GCC member states
Economy
UAE’s trade surplus with GCC countries at Dh135 bn in 2021
The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021.
- The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021
- UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes
Geostrategy
UAE tops Arab countries as best Foreign Direct Investment hub
The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in...
- The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in 2021
- The report showed that global flows of FDI recovered to pre-pandemic levels last year, reaching US$1.58 trillion, an increase of 64 percent compared to 2020
Economy
Saudi Industrial Production Index rises by 26 percent in April
Saudi Arabia's Industrial Production Index (IPI) in April 2022 increased by 26.7 percent compared to the same month last year....
- Growth attributed to the high production in mining, quarrying and manufacturing activity.
- The IPI is an economic indicator that reflects the relative changes of the volume of industrial output.
Economy
UAE strengthens ties, strategic partnership with South Korea
The UAE Minister held a series of high-level meetings with government and business leaders in South Korea to strengthen bilateral...
- The UAE Minister held a series of meetings with govt leaders in South Korea
- The Minister held meetings with business leaders in South Korea
Economy
MEASA has world’s highest growth potential but untapped largely: Report
Middle East, Africa and Southern Asia (MEASA) has the world’s highest growth potential, according to a report by the New...
- Over the last decade, MEASA GDP per capita has almost doubled in real terms, outpacing the growth of the rest of the world.
- However, while this century's entire world population growth projected will originate from MEASA, yet it accounts only for 15 percent of global GDP.
Business
Saudi Arabia inks investment deals worth $4bn in Q1
Saudi Arabia finalized investment worth SR15.2 billion ($4 billion) in the first quarter of 2022 and closed 101 investment deal...
- The country finalized 101 investment deals in the first quarter of 2022
- The investments reflect a 225 percent increase from the same period last year
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairmanÂ
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business
Company News
TAQA posts 53% income rise
Business
Latest News
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.