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
Geostrategy
UAE discusses bilateral cooperation with Greece and Ukraine
Sheikh Mohamed has talked to Greece and Ukraine to enhance his country’s bilateral ties with them.
- With the Greek prime minister, he explored the path of further strengthening the existing strategic partnership between the two countries
- With Ukraine's president, Sheikh Mohamed reviewed the prospects of enhancing their cooperation
Geostrategy
Lebanon stresses regional ties as Kordahi resigns
Kordahi had been in the eye of the storm for criticizing the Saudi-led military intervention in Yemen during an interview...
- Announcing his resignation, Kordahi said he had taken the decision because ‘Lebanon is more important’ than his position
- President Michel Aoun expressed hope that this move ‘would put an end to the imbalance in Lebanese-Gulf relations’
Business
WTO deal saves businesses $150bn a year
The deal with members including the US, EU, and Saudi Arabia agreeing to new ways to help businesses.
- The agreement is said to have called for members countries and groupings to create domestic regulation for services
- Such regulations would ‘improve the business climate, lower trade costs, and cut red tape so as to facilitate services trade worldwide’
Geostrategy
UAE, France sign MoUs, $18bn Rafale deal
The agreements will boost the strategic partnership between the two countries to serve their mutual interests.
- The agreements will boost the strategic partnership between the two countries to serve their mutual interests
- The signing was attended by Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and President of France Emmanuel Macron
Geostrategy
HRW urges Lebanon to extend school registration deadline for Syrian kids
Lebanon's Education Ministry should extend the December 4, 2021, school registration deadline for Syrian children and end policies that are...
- The rights body also asked the government to end policies that block refugee children's access to education.
- Lebanon hosts 660,000 school-age Syrian refugee children, but 30 percent – 200,000 – have never been to school
Business
Samsung bags Aramco project
Samsung Engineering has bagged a $1.23 billion contract from Aramco to develop Jafurah Gas Process Package 1, a major project...
- It is part of the Jafurah shale gas field development located 400 km east of capital Riyadh and is expected to be completed in 2025
- The goal of the project is to produce shale gas, natural gas liquids (NGL), ethane, sulphur and stabilized condensate
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.
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
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Bahri, stc sign logistics deal
Business
UAE President Sheikh Mohamed holds talks with President Putin
UAE President Sheikh Mohamed bin Zayed Al Nahyan has called for peace during his meeting with Russian President Vladimir Putin...
Geostrategy
Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by...
Infographics
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Economy
UAE to launch new integrated ‘EmaraTax’ platform later this year
Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this...
- EmaraTax will significantly enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refund.
- The new platform also greatly enhances the ability of the FTA to administer taxes in the UAE.
Business
Villas, apartments worth $265 million sold in Dubai
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED1.5 billion ($408 million) on Tuesday, Dubai Land Department said.
- The total realty deals recorded during the day amounted to $408 million, according to Dubai Land Department.
- Mortgages included 47 villas and apartments worth AED109.29 million and 30 land plots valued at AED80.72 million.
Economy
Unemployment Insurance Scheme comes into force in UAE
The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the...
- The insured will be compensated with cash for a specific period of time if they lost their job until they find another employment
- The compensation will be paid monthly, calculated at 60 percent of the employee’s subscription salary.