UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
Economy
Tunisia’s budget deficit narrows to nearly $1.3 billion at Sept end
Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion...
- The decrease in the budget deficit is due to the increase in budgetary resources by 10.3 percent
- The Ministry of Finance also reported the increase in cash resources by 18 percent to 12.8 billion dinars.
Economy
Capital Economics says Saudi economy will boom in Q4
Saudi Arabia will see a strong economic growth in the fourth quarter of 2021, due to a high oil production...
- According to a report by Capital Economics some 9.76 million barrels per day were produced in October, broadly in line with pre-virus levels of output
- Growth in local deliveries of cement – a proxy for construction activity – picked up in October
Geostrategy
EU-funded $10m project to improve water supply in Gaza City, Jabalia
The Palestinian Ministry of Finance and the KfW German Development Bank have signed an agreement funded by the European Union...
- The availability of clean drinking water in Gaza is one of the lowest in the world.
- The project includes the construction of a new concrete reservoir with a capacity of 26,400 cubic meters.
Business
DEWA inaugurates visitors center at Al Maktoum solar park
Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (DEWA), has inaugurated the ‘Noor Energy 1 Visitors Centre’...
- The Noor Energy 1 Visitors Centre features an exhibition that chronicles the history of energy as well as future energy technologies.
- When fully operational, Noor Energy 1 will be the largest single-site concentrated solar power plant in the world.
Geostrategy
Iran attending Vienna nuclear talks with determination: Minister
Iranian Foreign Minister Hossein Amirabdollahian has said that Tehran has gone to Vienna with serious determination and a clear and...
- Iran says western powers should show seriousness and goodwill at the negotiating table.
- Foreign minister Hossein Amirabdollahian said the US is imposing sanctions on Iran while engaging in talks.
Arts & Culture
Archeologists find ancient weaving workshop in Turkey
They have also unearthed weight stones used to turn wool into rope during excavation work.
- Digging at the ancient site has been ongoing since the early 2000s, and a variety of items have reportedly been unearthed this year alone
- The items are said to include a historical Roman fountain, various architectural structures, and several aqueducts
Arts & Culture
Instagram launches first-of-its-kind filter for UAE Golden Jubilee
The UAE is reportedly the first country to have such filter on the social networking site.
- Instagram developed the filter to be used for UAE passport and Expo passport holders
- It is said to have been developed in partnership with the Ministry of Foreign Affairs and International Cooperation (MoFAIC)
Business
London based firm seeks investment opportunities in Jordan
"Jordan represents a unique and strategic opportunity for global investors. We are looking forward to strengthening our ties further in...
- This is a major move for RiverBay Capital on its mission to provide Europe with institutional access to markets in the Middle East
- RiverBay Capital has successfully established itself as a bridge between real estate markets in Europe and the Middle East
Economy
OPEC Fund extends $80m loan to Afreximbank
The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and...
- The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors across Africa
- The OPEC Fund’s loan will help address some of the challenges, which are also impacted by the COVID 19 pandemic
Business
Blink Experience backs Saudi GP
Saudi GP said the UAE company is now an official supporter.
- The Saudi GP is expected to be the largest sporting event to be hosted by the country
- It is going to be held for the first time at the Jeddah Corniche Circuit
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UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
Company News
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Seera sees 43% slide in loss
Business
Jordan fixes bread prices until 2023 amid global grain price hike
According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white...
Economy
French energy giant offers pay talks in bid to end fuel strike
Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...
Business
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Economy
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...
- On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
- Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Business
Dubai Airport Free Zone non-oil trade up 36 percent in 2021
Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose...
- DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations across all sectors.
- Machinery, equipment, and appliances were the main contributor to DAFZ’s trade in 2021, making up 74.6 percent of exports.
Geostrategy
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...
- Qatar relies heavily on Jordanian market for vegetables and fruits.
- Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.