Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
Business
Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
Business
Economy
UAE economic growth in 2022 to reach 4.7 percent driven by oil and non oil sectors, says World Bank
UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient...
- The UAE in 2022 is keen on increasing the competitiveness of the private sector, said the Economic Advisor, Ministry of Economy.
- The UAE government launched an economic stimulus package of AED 388 billion, said a senior official of the Ministry of Economy.
Economy
One out of three Islamic Development Bank member living in poverty
President of the bank Dr Muhammed Al-Jasser, who was speaking at the 16th World Bank Forum, on Islamic Finance, said...
- The Forum themed “Poverty Reduction Through Social Innovation and Entrepreneurship” was held on the sidelines of the IDB group's annual meeting in Sharm El-Sheikh.
- The fight against poverty has always been at the forefront of the objectives of the bank's partnerships with member states and various institutions, Al-Jasser said.
Geostrategy
Jordan King discusses regional, security issues with EU leaders
The King discussed the latest regional developments and their impact on regional security, especially the Palestinian cause.
- The King discussed the latest regional developments and their impact on regional security, especially the Palestinian cause
- He expressed Jordan’s keenness, along with Arab countries, to launch regional cooperation projects that seek development and prosperity in several fields.
Business
Saudi personal finance market posts 4.4% jump to $18.96bn
Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the...
- The real estate loans increased by 1.3 percent to SR26 billion in the first quarter compared to the last quarter of 2021
- Compared to the fourth quarter of 2021, the real estate loans for corporates recorded a higher growth rate at 4.74 percent against 0.72 percent increase that was seen in retail loa
Economy
IsDB’s Lives and Livelihood Fund provides $1.5bn to 33 member states
Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative.
- Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative
- The IsDB and development cooperation partners launched a US$2.5 billion LLF in 2016 with a joint vision to raise the poorest out of poverty
Business
Fitch enhances Ras Al Khaimah rating to ‘A’, outlook upgraded to ‘positive’
The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy,...
- The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report.
- The emirate’s agility in terms of spending has led to a budget surplus in the government sector equal to 1.4 percent of GDP in 2021, adds US-based credit rating company.
Business
Jordanian firms forge trade partnerships at APAS Show 2022
Jordanian companies forged trade partnerships during their participation in the APAS Show 2022, an annual food and beverages exhibition held...
- Seven companies participated in the Jordanian pavilion, which was organized by the Jordanian-Brazilian Business Association and Jordan Exports.
- Jordan Chamber of Industry President Fathi Jaghbir said the "successful" Jordanian participation has laid the groundwork for future business.
Business
MA’ADEN, GlassPoint to develop heat plant
The facility will be the world's largest solar process heat plant.
- When completed, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually.
- This represents more than 50 percent reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.
Business
ADNOC L&S acquires 3 LNG vessels
In April the company announced it will acquire two LNG vessels.
- All five new-build LNG vessels will be built at the Jiangnan Shipyard in China.
- ADNOC L&S, the shipping and maritime logistics arm of ADNOC, is region’s largest shipping and logistics company.
Business
Kuwait crude oil export to Japan climbs 7.6% to 6.61m barrels
Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day...
- Kuwait overtook Qatar to become Japan's third-biggest oil provider last month
- Japan's overall imports of crude oil grew 9.9 percent year-on-year to 2.92 million bpd, up for the ninth month in a row
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
Business
Company News
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Air Arabia Q3 net profit $113m
Business
Salaries, work environment, job security top UAE job features for 2023
The least important factors reportedly are aesthetics of the company such as the logo and website design and positive media...
Economy
UAE President visits Qatar in sign of improving ties
Ending a yearslong estrangement between the two countries, the UAE President Sheikh Mohamed bin Zayed will arrive in Doha today...
Geostrategy
Jordan PM launches women empowerment strategy
This strategy aims to eliminate all forms of gender-based discrimination.
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Business
EU spent €11.8 billion on imports of non-plug-in hybrid cars in 2021
Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports...
- Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports of hybrid and electric cars (55 percent)
- Electric cars are an important part of the energy transition and they are becoming increasingly popular, with international trade in hybrid and full electric cars on the rise
Economy
UAE secured 40% of Japan’s crude oil needs in October
94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain...
- 94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman
- Oil remains the most significant energy source in Japan, accounting for about 40 percent of the country’s total energy supply, according to the IEA
Business
Stage set for UAE-Japan business council as Abu Dhabi secures 40% of Tokyo’s crude oil requirements
The proposed bilateral business council, aimed at developing joint projects and exchange expertise, is likely to be formed by the...
- The proposed bilateral business council, aimed at developing joint projects and exchange expertise, is likely to be formed by the first quarter of 2023
- The amount of crude that Japan imported during that month amounted to 84.58m barrels, of which 80.10m barrels, originated from five Arab countries