Dubai Integrated Economic Zones posts record $91 billion trade in 2024
Dubai, UAE – The Dubai Integrated Economic Zones Authority (DIEZ) recorded its highest-ever trade performance in 2024, with total trade...
Business
Geostrategy
UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
- The minister made the comments during high-level meetings on the sidelines of the 78th United Nations General Assembly in New York.
- Mariam Almheiri, who is also the COP28 Food Systems Lead, highlighted the prominence placed by the UAE on food and agriculture in COP28 agenda.
Science
World must understand AI, curb its risk, says UK Deputy PM
NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
- UK Deputy PM said that a summit, set for November, will aim to preempt the risks posed by frontier AI and explore how it can be used for public good.
- One of the concerns highlighted by the Deputy Prime Minister is the unprecedented speed at which AI is evolving having far-reaching implications.
Business
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...
- The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
- The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
Geostrategy
Russian defense minister says Moscow-Tehran ties improving despite sanctions
MOSCOW, RUSSIA – The cooperation between Moscow and Tehran is reaching new highs, Russian Defense Minister Sergey Shoigu said on...
- The Russian defense minister announced readiness to take joint steps to strengthen stability and security in the Middle East.
- The Russian minister said that cooperation and dialogue between Moscow and Tehran has enhanced recently.
Business
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...
- The performance of the market and the exceptional figures recorded underscore the attractiveness of real estate investments in Ajman
- This is basically due to the growing demand for properties of all categories, price ranges and a comfortable lifestyle.
Geostrategy
$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
- These compensations were given primarily to deal with issues such as delays, loss of luggage, flight cancellations.
- GACA aims to ensure that passengers are well-informed about their rights and can easily obtain refunds as per the regulations.
Geostrategy
Israel accounts for 46 percent of global Jewish population
TEL AVIV, ISRAEL – The total global Jewish population rose to 15.7 million over the last year, while the number...
- Data showed that the global Jewish population grew by some 100,000 over the past year.
- The US has the second-largest Jewish population in the world, after Israel, - at 6.3 million.
Geostrategy
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...
- UAE Minister of State for Foreign Trade promoted the country’s unrivalled access to global markets, which have been enhanced by CEPA program.
- He highlighted the growing relationship between Hainan and the UAE, which resulted in bilateral non-oil trade doubling in 2022 to reach $900 million.
Business
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
- The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
- The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.
Geostrategy
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
- Qatar has been a mediator in talks that led to a prisoner exchange deal between Iran and the United States.
- The deal involves the release of five prisoners from each side and the unfreezing of some US$6 billion worth of Iranian funds.
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Dubai Integrated Economic Zones posts record $91 billion trade in 2024
Dubai, UAE – The Dubai Integrated Economic Zones Authority (DIEZ) recorded its highest-ever trade performance in 2024, with total trade...
Business
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Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
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Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
- Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs of the United Arab Emirates, said, “The only constant conviction we recognize every day is that nothing remains stable.”
- Sessions also explored novel approaches needed to tackle emissions while ensuring an equitable and socially responsible transition
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Deals worth $4.26 billion signed at inaugural Global Logistics Forum
Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
- The forum was attended by more than 130 experts and leaders in the global transport and logistics sector, as well as 13,000 visitors.
- Among the attendees were over 15 ministers and 77 leaders in the transport and logistics industry from more than 30 countries.
Business
OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity
According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...
- According to the monthly publication, oil demand in the Middle East is expected to expand by an average of 265 tb/d, y-o-y, in 4Q-24.
- Refinery capacity additions in non-OECD countries – mostly in China and the Middle East – are also expected to contribute to oil demand growth.