IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
Economy
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
Business
Business
EDB, Jetro ink investment deal
The agreement will promote direct investment in various fields.
- This agreement will highlight Bahrain as an investment hub for Japanese companies
- Bahrain recently ranked first for availability of advanced computer programming talent in ICT
Economy
Oman revenues to rise 6% in 2022, with oil at $50
Oil and gas returns are set to comprise 68 percent of total revenues, against 32 percent for non-oil and gas...
- Preliminary indicators of Oman’s budget this year point to the possibility of achieving the lowest deficit since 2014, despite oil-price fluctuation
- The budget deficit in 2022, estimated on the basis of $50 a barrel, would stand at RO1.5 billion ($3.9 billion)
Economy
Thousands protest in Istanbul against worsening economic situation
More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value...
- More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value of the Turkish lira and the rate of inflation
- The inflation rate, according to official figures, reached 21.31 percent on an annual basis during November in Turkey
Science
Oman okays 3rd Covid-19 vaccine dose for adults
The decision is said to have come at a meeting of Oman’s Supreme Committee tasked with tackling developments resulting from...
- Epidemiological reports and analyses point to a minor increase in positive cases in Oman
- The reports also showed that 93 percent of the target population received at least one dose of Covid-19 vaccines
Business
Saudi Arabia, Egypt sign MoU to enhance anti-corruption cooperation
Saudi Arabia’s Oversight and Anti-Corruption Authority and Egypt’s Administrative Control Authority have joined hands for international cooperation.
- The MoU is expected to facilitate exchanging expertise and information related to corruption crimes
- It is also expected to lead to the development of the institutional capacity of the two countries in this field
Economy
Jordan endorses tourism national strategy as pandemic abates
Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year.
- Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year
- Fayez highlighted the strategy to attract more tourists to the country was developed in partnership with the private sector
Business
Al Tamouh, Al Qudra merger okayed
International Holding Company has formally agreed to the merger.
- The Board of Directors of Al Qudra Holdings has also approved a new foreign ownership limit of 30 percent of outstanding shares
- Previously, only UAE nationals were permitted to own shares in the company
Science
Growing health costs push over half a billion into extreme poverty: WHO-WB
UN Secretary-General António Guterres in his message marking the International Universal Health Coverage Day said that with the third year...
- “The pandemic will not end for any country until it ends for every country," said the UN chief
- The new WHO/World Bank reports warn that financial hardship will become more intense
Sheikha Fatima gets most influential figure in women’s rights award
The conference was organized by the ACSR, under the patronage of the Arab League.
- Sheikha Fatima was named as the most influential figure in women’s rights in 2021 during last month’s Humanitarian and Volunteer Work Conference
- The award was received on behalf of Sheikha Fatima by Noura Al Suwaidi, Secretary-General of the General Women's Union at the Egyptian pavilion in Dubai Expo
Business
Saudi Port launches transshipment service linking Dammam with many ports
MAWANI also aims to attract a major share of the global transshipment operations to Saudi ports by implementing several projects...
- The service is launched in partnership with Saudi Global Ports Co and the international shipping line Orient Overseas Container Line.
- The Saudi Ports Authority seeks to raise the Kingdom's share in the transshipment market from the present 21 percent to 50 percent by 2030.
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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
IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
Economy
Company News
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Saudi Arabia grants 52 mining licenses in August
Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according...
Business
OPEC’s World Oil Outlook to be launched at ADIPEC on Oct 31
This year’s publication will again be accompanied by a smart app to give increased access to the WOO’s vital analysis...
Economy
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Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
- The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals
- TAQA will focus on the decarbonisation power and water supply, electrification across sectors to support more efficient use of power and water
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
- Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider.
- The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden.
Economy
Abu Dhabi’s Environment Agency holds training for industries
The Environment Agency - Abu Dhabi (EAD) organized two training workshops on the Green Industries environmental labeling program.
- The Green Industries program aims to recognize industrial facilities that adopt green processes and operations.
- The workshops, held digitally, were attended by over 135 industrial facilities from various sectors in Abu Dhabi.