Saudi to host joint Arab-Islamic summit on Gaza crisis
Riyadh, Saudi Arabia - Saudi Foreign Ministry said on Saturday that the Kingdom will hold a joint Arab Islamic extraordinary...
Geostrategy
Business
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.
- The President of the American Chamber of Commerce in Jordan (AmCham) Mohammad Batayneh said in a statement
- He added that Jordan's exports during the first 11 months of 2021 nearly reached $2.5 billion, compared to $1,120 billion in imports
Geostrategy
Tunisian FM says Kuwait is a key player in Arab world
Tunisian Foreign Minister Othman Jerandi has lauded Kuwait for its role in finding peaceful solutions to crisis plaguing the Arab...
- “The State of Kuwait plays a leading role in using its good offices in finding peaceful solutions to the crisis inside the Arab region and beyond," he affirmed
- Jerandi commended Kuwait's efforts to achieve rapprochement among the Gulf Cooperation Council (GCC) member countries
Business
DEWA to sponsor Dubai Award for Sustainable Transport
Dubai Electricity and Water Authority (DEWA) will be the strategic sponsor of the 12th Dubai Award for Sustainable Transport. The...
- Saeed Mohammed Al Tayer, MD & CEO of DEWA highlighted DEWA’s support for all efforts to enhance sustainable transport in the UAE and abroad
- This consolidates Dubai’s position as a global capital for a green economy and achieves sustainable development to ensure a brighter future
Economy
UNICEF: Lebanese crisis forcing youth out of learning
Lebanon’s crisis is increasingly forcing young people to drop out of learning and engage in ill-paid, irregular and informal work...
- The report – Searching for Hope – says that more than 4 in 10 youth in Lebanon reduced spending on education to buy basic food, medicine and other essential items
- Enrolment in educational institutions dropped from 60 percent in 2020-2021 to 43 percent in the current academic year
Business
Applebees, IHOP in UAE soon
The first location is scheduled to open in Dubai later this year.
- Dine Brands International is set to open multiple Applebee's Neighborhood Grill + Bar and IHOP restaurants in the UAE
- The first location will open in Dubai later this year through an agreement with established IHOP Franchisee
Business
Saudi Arabia looks to increase trade exchange with Iraq
The Saudi Export Development Authority organized a meeting of a group of Iraqi and Saudi businessmen to discuss opportunities for...
- The volume of exports of foodstuffs and construction constitutes about 60% of the total volume of the Saudi exports to Iraq
- Saudi Arabia imports aluminum scrap as well as iron scrap and some foodstuffs such as dates and rice from Iraq
Economy
Tunisia saves more than $40 million since 2011 with solar installations
The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by...
- The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by 394.5 ktonnes
- In 2021, about 11,395 individual PV installations were set up, compared to 8,370 a year earlier, which is up 36 percent
Economy
Qatar ranks 2nd in Gulf countries on corruption perceptions index
The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness...
- The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness Yearbook
- The index uses a scale from zero to 100, with zero being the most corrupt and 100 the most transparent
Business
Morocco: Overall port traffic up 11.6% in 2021
Moroccan ports have recorded a significant evolution of overall port traffic, which has risen from 172.1 million tons in 2020...
- The maritime and port sectors have overall shown great resilience to the Covid-19 pandemic
- The transshipment accounted for 41.9 percent of overall traffic, followed by imports of 33.3 percent
Business
Record real estate deals in 2021 will drive the sector in next 50 years: DLD
The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE...
- Real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last year, which is the highest ever in the recorded real estate history of Dubai.
- December 2021, in terms of overall index numbers, was the highest since February 2019 and the highest for index value since August 2018.
Saudi to host joint Arab-Islamic summit on Gaza crisis
Riyadh, Saudi Arabia - Saudi Foreign Ministry said on Saturday that the Kingdom will hold a joint Arab Islamic extraordinary...
Geostrategy
Company News
DEWA, Desolenator ink pact
Business
Arab democratization slides further in 2021
Infographics
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Al Sagr, Gulf Union may merge
Business
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added...
Business
Banque Saudi Fransi net profit up 15%
The bank’s profit for the nine-month period peaked at $719m.
Business
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Economy
Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022
As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
- The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
- Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
Business
Empower IPO priced AED1.31-1.33 per share
The total offering size expected between $357m and $362m.
- On Oct. 24, Empower announced it will list 10 percent stake in its IPO and list a portion of its ordinary shares for trading on the Dubai Financial Market (DFM).
- Empower said that 1 billion shares, each with a nominal value of AED0.10 (ten fils) will be made available in the offering.
Economy
Swiss National Bank loses nearly $143bn in first nine months
The scale of the loss can be gauged from the fact it is slightly more than the annual economic output...
- The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion)
- The loss could mean that the bank halts payouts to the Swiss federal and cantonal governments next year