Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
Business
IMF praises UAE for the handling of economy during pandemic
The UAE government has been praised by no less than the International Monetary Fund for the handling of its economy...
- The IMF said that the economic recovery is gaining momentum due to the UAE's accelerated efforts and health responses and continued supportive macroeconomic policies
- Overall gross domestic product growth is projected at 2.2 percent in 2021, driven by non-oil growth of 3.2 percent
Business
UN estimates global trade to slow down in 2022
A year after it posted sharp growth, global trade in goods and services is expected to slow down, according to...
- The value of global trade reached a record level of $28.5 trillion in 2021, a 25 percent increase compared to the previous year and 13 percent higher compared to 2019
- Trade in services rose by $50 billion to reach $1.6 trillion, just above pre-pandemic levels in the same period
Economy
Digital banks help Kuwait keep pace with global trends: CBK official
Executive Director of the Supervision Sector at the Central Bank of Kuwait, Waleed Al-Awadhi said that the digital banks will...
- Executive Director of the Supervision Sector at the Central Bank of Kuwait, Waleed Al-Awadhi said that the digital banks will have no branches
- This tech-based model saves cost and time, he clarified, adding that these banks do not have the paperwork complications of the traditional counterparts
Business
Morocco fish production reaches 1.4 million tons in 2021
This remarkable performance was recorded in the three segments of fisheries: artisanal fishing, coastal fishing and deep-sea fishing.
- This remarkable performance was recorded in the three segments of fisheries: artisanal fishing, coastal fishing and deep-sea fishing
- Artisanal fishing has benefited from the increase in the turnover of octopus due in particular to the rise in its average price by 53 percent
Economy
New UAE decree boosts safety of construction workers
The decree details the responsibilities of both employees and employers to ensure work stability and increase productivity in the workplace.
- Establishments with 50 or more workers, where the individual wage is less than AED1,500 per month, need to provide labor accommodation
- Construction and industrial workers are not permitted to work outdoors or under the sun from 12:30 pm to 3 pm from June 15 to September 15
Geostrategy
Qatar wins presidency of Arab Association of Secretaries General of Parliaments
The country is represented by Secretary-General of the Shura Council Dr. Ahmed bin Nasser Al Fadhala.
- The country is represented by Secretary-General of the Shura Council Dr. Ahmed bin Nasser Al Fadhala
- The Secretary-General of the Egyptian House of Representatives was elected vice-chairman of AASGP
Economy
WB ready to pair with Tunisia to implement reform program
The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country.
- The World Bank has already promised $400 million (about 1,152.5 million dinars) to support Tunisia's social reforms
- Other financing was expected to follow to support SMEs, acquire vaccines, and provide the necessary health support
Economy
Iran, Qatar to form joint gas extraction study group
The oil ministers of Iran and Qatar will discuss gas swap, common stances in the global market and forming a...
- The two ministers will discuss gas swap, common positions in gas trade and global markets, and establishing joint knowledge-based companies in the field of oil and energy
- The oil ministry source also said that they are expected to discuss forming a joint working group to study the reservoir of South Pars gas field
Business
Europe’s Investment in Palestinian economy touches $1.61bn
Around 60% of $1.61 billion were committed only in the last two years showing remarkable growth in mobilization of finance...
- A high-level policy meeting on Friday in Ramallah revealed this data of European Investments in Palestine
- A big bulk of investments is for boosting access to finance for SMEs, the backbone of the Palestinian economy
Business
Venture capital invests $548m in Saudi start-ups
The investment spans several sectors including e-commerce, financial technology, education and transportation
- This was up from SR236 million ($63 million) in 2018, according to a Saudi Venture Capital (SVC) Impact Report
- The number of investors in Saudi startups rose by 192 percent, reaching 76 in 2021, up from 26 three years earlier
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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
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
Company News
Latest News
Saudi F-15S jet crashes, pilots eject unharmed
The aircrew, consisting of two officers, survived the incident after using the ejector seat.
Suez Canal Authority to invest US$550m in current fiscal
Cairo, Egypt— Suez Canal Authority will make an investment of $550 million in the current fiscal year, according to Minister...
Business
Most Read
Geostrategy
UAE’s climate initiatives to benefit private sector
The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of...
- At COP27, the Gulf country intends to reveal the details for the mechanisms and pathways for implementing its strategic initiative to achieve climate neutrality 2050
- This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds, says the UAE minister
Business
Commercial operations begins at Al-Zour Refinery project in Kuwait
Kuwait City, Kuwait - The Kuwait Integrated Petroleum Industries Company (KIPIC) has started commercial operations of the first phase of...
- The project started last month to produce and sell primary quantities of fuel oil and supply it to local electric power stations.
- Acting CEO of KIPIC Waleed Al-Bader said the operation is important and a mainstay of the country's development plan.
Geostrategy
UAE, EU can jointly tackle challenges like climate change: Borrell
Abu Dhabi, UAE - UAE and European Union discussed ways to enhance cooperation relations in multiple issues of mutual concern...
- Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, met with Josep Borrell, Vice-President of the EU Commission.
- The two also reviewed the latest developments on the regional and international arenas, including the Ukranian crisis.