GCC tourism’s contribution to GDP expected to surge by 2030: Fitch
GCC tourism's GDP contribution will rise from $130 billion in 2023 to over $340 billion by 2030, driven by aviation...
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
Business
Turkey’s auto sector grows 6% from Jan-Nov 2022
The sector witnessed the manufacturing of 1,210,331 cars in the period.
- The sector witnessed the manufacturing of 1,210,331 cars in the period
- The automotive exports grew by 5 percent over the past eleven months
Economy
GCC vows to unify stance of global environment issues
The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international...
- The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums
- The meeeting of GCC ministers responsible for environmental affairs in their respective countries was chaired by Oman's Dr. Abdullah bin Ali Al-Amri
Science
UAE launches Arab world’s first ever lunar rover, will land in April 2023
Dubai, UAE - The Arab world's first lunar rover successfully took off to space on Sunday. The UAE-built Rashid Rover...
- The UAE became the first Arab country and the fourth country globally to land on the lunar surface after the United States, Soviet Union, and China.
- The Mohammed Bin Rashid Space Centre (MBRSC) said once launched, the integrated spacecraft will take a low-energy route to the moon.
Economy
UN says right environment policies can generate 20 million jobs
“It is critical that as we scale up the use of Nature-based Solutions (NbS) we make sure we do not...
- Nature-based solutions aim to protect, restore, and sustainably manage waters and marine ecosystems.
- New Green Jobs for Youth Pact, launched by ILO and UNEP at COP27, aims to create one million new green jobs.
Business
Turkish investments in Algeria exceed $5 billion: Foreign minister
Algiers, Algeria--- Turkish investments in Algeria have exceeded $5 billion and the desired goal of $10-billion trade between the two...
- Mevlut Cavusoglu said the number of Turkish companies operating in Algeria exceeded 1,400.
- He said the desired goal of $10bn bilateral trade between the two countries could be achieved in a short time.
Videos
Is GCC insurance industry ready for the change?
Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.
- PwC Middle East advises insurers, as they look to 2025 post Covid recovery, to harness "the momentum they have gained" to meet new challenges.
- "Regardless of how insurers capitalize on these trends, they will need to reassess the future and reimagine their place in the world," says Sanjay Jain of PwC.
Economy
Saudi real GDP grows 8.8 percent in third quarter on rise in oil activities
Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to...
- GASTAT noted that the real GDP growth in the third quarter was up 2.1 percent compared to the second quarter of this year.
- Government activities also rose by 2.5 percent in the third quarter compared to the same period a year ago.
Economy
UAE passport ranked most powerful in the world
Dubai, UAE— The United Arab Emirates has been ranked as the country with the world's most powerful travel document. That...
- The UAE has beaten the likes of Germany, Sweden, Finland and Luxembourg in the latest ranking
- An Emirati passport holder can travel to a huge number of countries visa-free, and in many others you can get a visa right when you arrive
Economy
Qatar sees 34 percent decline in building permits in November
Doha, Qatar— Qatar has witnessed a 34 percent decline in building permits to 645 during the month of November, as...
- According to the monthly statistics issued by the Planning and Statistics Authority, the decrease was noted in the all of the municipalities
- Commercial buildings were found to be in the forefront of non-residential buildings permits with 32% (25 permits), followed by governmental buildings with 31% (24 permits)
Business
Continuous efforts to enhance UAE’s endeavor to confront money laundering crimes: CBUAE Governor
The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system...
- The CBUAE is making continuous efforts to enhance the fight against all forms of financial crimes and money laundering, says its Governor Khalid Mohammed Balama
- The Gulf country is developing effective policies and legal frameworks, governance and executive machineries, and close follow-up of all illegal financial transactions, he adds
GCC tourism’s contribution to GDP expected to surge by 2030: Fitch
GCC tourism's GDP contribution will rise from $130 billion in 2023 to over $340 billion by 2030, driven by aviation...
Company News
UAE approves Dubai Metro Blue Line project
Geostrategy
Latest News
Solutions+, EIH sign MoU
Business
Maisarah leads Oman government’s successful sukuk issuance
MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...
Business
Sheikh Hamdan issues resolution regulating single-use products in Dubai
DUBAI, UAE - Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...
Geostrategy
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
Business
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Business
Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
- The draft was presented to the council by Sheikh Mohammed bin Saud Al Qasimi, Head of the Sharjah Finance Department for a final review and approval
- After a final review, the council approved the draft law regarding the 2024 general budget for the Sharjah Government departments
Business
IsDB, SWCC sign agreement
The collaboration will involve efforts from both parties.
- The agreement includes a mechanism for exchanging knowledge and experiences.
- It would involve transferring the experience of SWCC to the member countries of IsDB.
Geostrategy
Human Rights Monitor submits documents on Gaza executions to UN
GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
- The monitor called for immediate investigation to hold the perpetrators accountable and provide justice to the victims.
- It demanded the announcement of the formation of an international legal team to reach Gaza and investigate the incidents.