Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
Business
Top diplomats of some OIC countries arrive in Russia, to discuss Gaza
MOSCOW, RUSSIA – The foreign ministers of Saudi Arabia, Jordan, Egypt, Indonesia, Palestine and the Secretary General of the Organization...
Geostrategy
Business
A Saudi study sees tourism a provider of thousands of jobs
A study undertaken by the Saudi Ministry of Tourism sees the sector providing thousands of jobs for the young people...
- The study showed that 75 percent of the study participants were positive about the job opportunities available in the sector
- Some 80 percent of the study participants expressed that there are many opportunities for career learning and professional development in these areas
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
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
Business
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ACWA’s investments surge
Business
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...
Infographics
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
Geostrategy
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Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Science
Hub71, Yahsat partner to support satellite operations tech
Hub71 and Yahsat are both supported by Mubadala investment company.
- The two companies are supported by Mubadala investment company
- Hub71 is now home to almost 200 startups working across 20 sectors
Economy
UAE, Turkish FMs discuss food and energy security
The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye.
- The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye
- Sheikh Abdullah congratulated Çavuşoğlu on the resumption of the grain-export deal through the Black Sea to international markets