Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
Economy
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Expo 2020 DUBAI
Kuwait Expo 2020 pavilion will be ‘biggest’ in terms of size and activities, says director
DUBAI: Kuwait's participation at Expo 2020 Dubai is "biggest" in terms of pavilion size and range of activities, the pavilion's...
- The Kuwaiti pavilion, which has been designed to resemble water tower structures commonly found in the country, is constructed on an area of over 5,500 square meters.
- A total 200 government and private bodies representing diverse sectors are set to contribute to the booth over the coming six months.
Geostrategy
Israel foreign minister opens embassy in Bahrain
Yair Lapid began a landmark visit Thursday to Bahrain where he opened the Israeli embassy one year after the US-brokered...
- The Bahrain flight and Israel's first bilateral ministerial visit to the Gulf country are part of a thaw in regional relations
- Bahrain reaffirms its commitment to the two-state solution to the Israeli-Palestinian conflict
Business
Dubai records weeklong real estate transactions worth $1.6 billion
DUBAI: Dubai has recorded 1,592 real estate and properties transactions worth AED6 billion ($1.6 billion) in total during the week...
- A plot of land in Al Thanayah Fourth sold for AED59.5 million and an apartment for AED373 million in Marsa Dubai.
- Al Yufrah 3 recorded the most transactions for this week with 17 sales transactions worth AED15.66 million.
Expo 2020 DUBAI
Breathtaking start of Expo 2020 Dubai
Dubai opened its extravagant Expo 2020 on Thursday with a flashy ceremony boasting fireworks and lights displays as it attempts...
- The event kicks off a six-month world fair attended by more than 190 countries
- The Expo venue is alive with music, dance, drama and projections with its star-studded opening ceremony
Economy
Kuwait to push for more private sector jobs in order to reduce state wage bill
Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The...
- The move comes as the Middle Eastern country seeks to reduce its public sector wage bill, which accounts for approximately 60 percent of the government’s budget
- A study will also be conducted to identify high-priority jobs to attract national labor early next year
Business
Ajman Chamber reduces membership registration fee by 50 percent
DUBAI: A 50 percent reduction in the membership registration fees in the Ajman Chamber of Commerce and Industry for new...
- The offer is valid only if the registration request is submitted between Oct 1 and March 31.
- The decision comes into force from October 1.
Economy
Saudi Arabia expects 2.7 percent budget deficit this year, 1.6 percent in 2022
Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further...
- The kingdom forecasts total spending of 955 billion riyals - around $255 billion - next year, down from an estimated total expenditure of around 1 trillion riyals this year
- The gross domestic product is expected to reduce further next year, to 1.6% of GDP
Arts & Culture
$1bn Guggenheim Abu Dhabi to open in 2025
Guggenheim Abu Dhabi being built at a cost of one billion dollars is set for the inauguration in 2025, according...
- A $1-billion contract value was awarded to renowned architect Frank Gehry for the museum’s design
- The UAE capital is also home to Louvre Abu Dhabi, which was opened to the public in November 2017
Expo 2020 DUBAI
Expo 2020 launches official visitor app and business-focused app
Expo 2020 Dubai has launched its official visitor app and a business-focused app.
- The official Expo 2020 app allows users to tailor their visit to the event, matching individual interests to create a personal schedule
- The Expo 2020 Business App matches users with similar interests and objectives among the business community
Arts & Culture
Spain fortress contains mysterious Islamic era keys
They are believed to have reached Segovia as spoils of war after the conquest of Muslim cities in Andalusia during...
- One of the keys goes back to the Al-Hambra Palace in Granada, another belongs to a palace from the Andalusian city of Wilma.
- The five keys made of metal and bronze were not meant for daily use.
Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
Economy
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US to provide US$1.45bn per year in assistance to Jordan
The US will provide $1.45 billion per year in bilateral foreign assistance to Jordan, from 2023 to 2029.
Business
World Bank warns of risk of global recession in 2023
A major factor in bringing the world to this pass is the simultaneously hike in interest rates by central banks...
Economy
Egypt remittances drop 14.7% to US$2.38 billion in July
The drop comes as the exchange rate of the Egyptian pound is seeing a decline in light of the pressures...
Economy
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Business
Lazard hires Citi Saudi CEO
Al-Khatib will support the firm’s operations in MENA.
- Citigroup confirmed Al-Khatib's resignation and said that Carmen Haddad will be taking over as acting CEO
- The Saudi national was a leading figure in Saudi Aramco's initial public offering in 2019, the biggest ever share sale that raised almost $30 billion
Geostrategy
Abdullah bin Zayed meets Benjamin Netanyahu
UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Israeli Opposition Leader and former...
- With the signing of the Abraham Accords Peace Agreement in 2020, relations between Israel and the UAE have improved.
- The UAE top diplomat met with the former Israeli premier as part of his current official visit to the Israel..
Business
Union of Arab Banks appoints CS Events strategic partner
Dubai, UAE: Union of Arab Banks (UAB), the apex body of the $4 trillion banking industry in the Arab World,...
- As partner, CS Events will co-create, market and deliver UAB’s activities in the UAE and Saudi Arabia.
- Though Arab world’s banking sector’s assets surpassed $4 trillion, more than 50 percent population in the Middle East and Africa remains unbanked.