Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
Geostrategy
Economy
Jordan’s tourism revenues hits $2.7 billion in 2021
The higher revenue this year as a result of the increase in the number of tourists, which was 2.358 million.
- Tourism contributes in a significant way to the economy of Jordan
- However, some observers say that the sector has a lot of room for improvement
Business
FB ad policy irks Iraq NGO
Facebook has been mired in global controversies for its ad policies.
- The most prominent Facebook ads controversy was when Cambridge Analytica targeted political ads at users after collecting their data without consent
- The results were advertisement that led to Donald Trump winning the US presidential election, and Britain voting to exit the EU
Business
UAE banks saw 80% growth in deposits in 10 years
Deposits at banks in the UAE grew 80 percent to AED1,884 billion ($513 billion) in 2020 from AED1,049 billion ($285.64...
- The number of commercial banks operating in the UAE totaled 58 in 2020 against 51 in 2010
- The licensed insurance companies increased from 238 in 2010 to 314 in 2015 to 406 in 2020
Business
Amman Chamber of Industry exports up by 17 percent in 2021
The exports of the Amman Chamber of Industry (ACI) increased last year in 2021 to "high" levels, compared to 2019,...
- The United States, India, Saudi Arabia and Iraq accounted for the majority of the Chamber's exports last year, with a value of JD3.111 billion.
- ACI exports rose during the same year to many Arab and foreign countries, most notably Indonesia, Egypt, Brazil, Algeria, Turkey, Sudan, Yemen and Malaysia.
Geostrategy
GCC seeks closer ties with EU to achieve common interests
During the visit, the secretary-general of the GCC will meet a number of senior officials of the European Union.
- The secretary-general expressed his aspiration for this visit to contribute to strengthening Gulf-European relations
- The two sides will also discuss the importance of strengthening and developing economic and investment relations
Business
Breakbulk Middle East to host top female executives, discuss challenges
Middle East’s largest breakbulk and project cargo event Breakbulk Middle East will host the ‘Women in Breakbulk Breakfast’, as part...
- A 2021 survey conducted by Gartner Inc shows that women comprise 41 percent of the supply chain workforce in 2021, up from 39 percent in 2020.
- The primary aim of BBME is to bridge the gender gap in the breakbulk and project cargo industry.
Business
Dubai records biggest real estate deals worth $41bn in 12 years
During the course of last year, Dubai real estate saw a momentous growth, resulting in deals worth close to $41.1...
- The total number of deals last year reached 61,241, the largest number since 2013, according to media reports
- Of these deals, ready made properties accounted for 60 percent of total real estate transactions in Dubai in 2021, while the rest was made up of off-plan properties
Geostrategy
UAE and Algeria to explore ways to boost ties
The UAE and Algeria will work to further strengthen ties between the two countries, and both have shown appreciation for...
- During the meeting, which took place at Emirates Palace, Abu Dhabi, the sides discussed means of enhancing ties between their countries
- They also exchanged views a number of regional and international issues of common interest, developments in the region
Economy
80 global leaders to address Abu Dhabi Summit ‘virtually’
The Abu Dhabi Sustainability Week summit, hosted by Masdar, will take place virtually on Monday, 17th January. The Summit will...
- The Summit will take place between 1:00pm – 9:00pm GST, and will convene more than 80 global leaders
- The opening sessions of the ADSW Summit will include a head of state address from President Halimah Yacob of Singapore
Arts & Culture
Kuwait Arabian Horse Beauty Championships end, breeders honored
The first Kuwait Arabian Horse Beauty Championships, which concluded on Saturday, saw the participation of 450 horses from various domestic...
- Th event saw the participation of 450 horses from various domestic stud farms.
- The event was held under the patronage of the European Conference of Arab Horse Organizations.
Most Read
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
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
Company News
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Wio launches in UAE
Business
Early preparations put GCC in better place to face tough economic conditions: Saudi finance minister
Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in...
Economy
CMA approves 18 listings on Tadawul
Tadawul is also developing a market marker for the bourse.
Business
Inditex sells Russian business to Middle Eastern Daher Group
Inditex closed its over 500 stores in Russia in March.
Business
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Economy
‘World Cup is crucial — both economically and culturally — and Qatar is ready to prove itself’
Qatar is currently more like a workshop of preparation and equipping, in which Qataris and residents have engaged. Brotherly and...
- Qatar's GDP during the first half of this year increased by 4.3%, supported by a 7.3% growth rate of the non-oil sector
- The hike in energy prices turned a projected budget deficit at the beginning of the year into a surplus of about QAR 47.3bn in H1
Business
Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.
- VLCC Acrux (previously Elandra Everest) is the name of the third VLCC vessel Al Seer Marine has taken delivery of in October 2022.
- In addition to the three VLCCs, Al Seer Marine recently acquired two liquefied petroleum gas (LPG) tankers valued at US$70 million.
Economy
‘UAE government revenues rose by 26% in 2021’
ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion...
- Social contributions in the UAE also rose from US$3.5 billion (AED12.9 billion) in 2020 to $3.6 billion (AED13.5 billion) in 2021.
- The value of other revenues increased by 24 percent from $55.4 billion in 2020 to $68.5 billion in 2021.