Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
Business
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Economy
Morocco: World Bank forecasts 1.1% growth in 2022, 4.3% in 2023
"Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due...
- "Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due to the drought,” the WB said in its latest MENA Bulletin
- The economy is projected to be driven by a still solid but moderating industrial performance and a faster recovery of tourism, the WB added
Economy
Over 1m medical tourists visit Iran in a year
Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health...
- Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health Mohammad Reza Tarjoman said
- Tarjoman said there are 200 medical centers that have permission to accept foreign patients underlining that Iran is ranked 46 worldwide in the area of health tourism
Economy
Lebanon: War in Ukraine means price rises amid climate crisis
There will be little to eat for many Lebanese when they break their fasts this Ramadan – but support from...
- There will be little to eat for many Lebanese when they break their fasts this Ramadan, but support from the WFP is delivering hope in the face of crushing price rises
- Working with the American University of Beirut, WFP is currently implementing a pilot project that is strengthening the adaptive abilities of rural communities
Business
Tunisia tourism revenues climb 48% to $200m by April 10
The country’s external debt services went up 5 percent, from nearly TND2 billion ($666.69 million) to about TND2.1 billion ($700.02...
- Cumulative labor income saw a 15.3-percent rise to TND1.9 billion ($633.71 million) on April 10
- This was against the TND1.6 billion ($533.42 million) on the same day in 2021
Business
Dubai saw weeklong real-estate transactions worth $2.12bn
The total number of real-estate transactions that took place was 1,968, according to data from the Dubai Land Department.
- The Land Department data showed the sale of 246 plots worth AED1.49 billion ($405.72 million) last week
- Meanwhile, 1,312 apartments and villas were sold for a total value of AED 2.96 billion ($805.99 million)
Business
Masdar and Kyrgyzstan to explore renewable energy projects
Masdar, one of the world’s leading renewable energy companies, has signed an agreement with Kyrgyzstan to explore the development of...
- Masdar will explore the development of investment in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV and hydropower
- Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
Business
Saudi ports throughput tonnage rise by 7.18 percent during Q1
The throughput tonnage at Saudi ports increased by 7.18 percent during the first quarter of 2022, reaching a total of...
- The number of transshipment containers increased by 5.91 percent, with a total of 1.3 million TEUs.
- Saudi ports have recorded a fall in container throughput which declined by 1.27 percent with a total of 2.5 million containers.
Business
KSA reports surge in digital payments in 2021, touching $34bn
Digital payments made through a mobile device accounted for 35 percent of all near-field communication transactions in Saudi Arabia in 2021,...
- The share of payment transactions made using a mobile device in all NFC payments grew from 22 percent in 2020
- The number of payment transactions using a mobile device in 2021 exceeded 1.8 billion, with the value exceeding SR128 billion
Economy
Investopia first UAE trademark to be registered under Madrid Protocol
The Ministry of Economy (MoE) has received the request to register the Investopia Summit trademark internationally, in line with the...
- The UAE acceded to the Madrid Protocol on 28th September 2021 to enable trademark owners in the country to protect their trademarks in more than 125 member countries.
- Investopia Summit is one of the strategic projects announced last September by the UAE government as part of the first set of 'Projects of the 50.'
Economy
Fitch revises Saudi Arabia’s outlook from stable to positive
The international credit rating agency ”Fitch” updated its credit report for Saudi Arabia affirming its “A” rating for the Kingdom...
- Fitch’s outlook revision makes Saudi Arabia one of the few countries globally, and the only G20 country, to have received two consecutive upward outlook revisions in 2022
- Fitch also forecasts the government debt to GDP to remain below 30% until 2025, which is approximately half the median level of comparative countries with similar credit ratings
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Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
Business
Company News
Latest News
Tourism recovery reaches 65% of pre-pandemic levels
An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month...
Economy
KEZAD Group breaks ground on UAE’s largest e-commerce fulfilment centre
The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement.
Business
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Business
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...
- Thirteen government entities are scheduled to participate in the joint exercise, in addition to some entities from the private sector
- It will enhance the capabilities of AD Ports Group and other participating entities for addressing potential risks in incidents that require a coordinated response
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.