Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
Business
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...
Business
Business
East Pipes lands $131m deal
The firm will supply pipes to Saline Water Corporation.
- The financial impact of the one-year deal will be seen in the company's fiscal year 2022-2023
- Established in 2010, East Pipes specializes in the manufacturing of steel pipes and joined the Saudi stock exchange earlier this year
Economy
Kuwait works with World Bank to implement national youth policy
The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of...
- The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of the youth projects
- The partnership has two axes - investment in human resources, and empowering the private sector to drive economic growth and create job opportunities
Economy
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...
- Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
- He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
Economy
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.
- The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
- The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
Business
Shipment value of Saudi cargo trains increases by 25 percent
The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end...
- The trains transported in excess of 5.5 million tons of minerals and goods.
- The levels of traffic safety increased as cargo trains crossed over 1.2 million kilometers.
Business
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...
- The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
- Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
Economy
Unemployment insurance to cut UAE business risk
The insurance is being hailed as a step in increasing the attractiveness of the UAE labor market and its ability...
- The employees who lose their jobs will receive cash support for a period of time until the employee finds another job.
- The decision is significant given the fact that unemployment rate in the country is one of the lowest in the world.
Economy
Dubai ranks second globally in attracting FDI in creative economy
Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign...
- Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in 2020.
- In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI.
Business
Fujairah Cement off Boursa Kuwait
The company has obtained approval of Capital Market Authority-Kuwait to do so.
- Fujairah Cement has obtained approval of Capital Market Authority-Kuwait for voluntary withdrawal from the Boursa Kuwait
- November 30, 2022, will be the last day for trading the Company's shares in Boursa Kuwait, says Fujairah Cement
Business
Dubai Government-Dubai Customs meet discusses best practices
A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best...
- Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships.
- The two sides discussed government innovation and its role in supporting Dubai Customs’ vision and strategic plans.
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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
Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
Business
Company News
ADNIC 9M net profit $72m
Business
BinDawood’s profit falls by 74%
Business
Latest News
Al-Othaim’s profit up by 436%
Business
Jordan cabinet approves 2023 draft budget law
Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment...
Economy
US sanctions Hezbollah’s accountants, weapons facilitator
The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to...
Geostrategy
Rising inflation, falling wages threaten increased poverty: ILO
Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...
Economy
Most Read
Analysis
It’s time to recount UAE’s achievements across sectors as the country celebrates its 51st National Day
Beside successfully addressing COVID-19, the country created a distinguished development model covering all political, economic, social, scientific and cultural areas...
- Beside successfully addressing COVID-19, the Gulf country created a distinguished development model covering all political, economic, social, scientific and cultural areas in 2022
- The UAE, through its ambitious national initiatives and projects, ncreases its international competitiveness and continues the development of its legislative structure this year
Science
‘Carbon credits need more supply, integrity to meet global demand’
RIYADH, SAUDI ARABIA - Carbon credits could make a significant contribution to achieving net zero by 2050, but only if...
- Trade in voluntary carbon credits could grow 100-fold by 2050 if teething problems are addressed.
- A carbon credit allows a country or organization to produce a certain amount of carbon emissions and it can be traded if the full allowance is not used.
Science
Natural disaster losses hit US$115 bn this year, says Swiss Re
GENEVA, SWITZERLAND - Natural catastrophes have caused an estimated US$115 billion of insured losses in 2022 to date, driven by...
- Swiss Re added that so-called secondary natural disasters such as floods and hailstorms caused more than $50 billion of insured losses.
- Total insured losses topping $100 billion for a second consecutive year, said Swiss Re.