UAE earns first spot in Global Entrepreneurship Monitor 2024 report
Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global...Business
US stocks open mixed ahead post fresh economic data
New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of...Business
China’s Country Garden wins vote on debt to avoid default, says media
BEIJING, CHINA - Chinese developer Country Garden has won approval from creditors to extend a deadline for a key bond repayment,...One of China's biggest builders, Country Garden had racked up debts estimated at 1.43 trillion yuan ($196 billion) by the end of 2022
Country Garden's bondholders voted this week to delay repayment on a bond worth 3.9 billion yuan ($535 million), to give it time to recover financially
Iraq-Iran rail link to facilitate travel, tourism and medical treatments
Iraq's prime minister inaugurated construction work on what is slated to become the first railway line connecting the country to...The project had been under discussion for years before an agreement was reached in 2021.
The Iraqi PM thanked Iran for planned demining operations at the border to clear the way for the train line.
Iraqi Trade Center to be launched at ACC’s headquarters in Jordan
AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...The center's inauguration will allow Jordanian and foreign businesspeople to view investment opportunities offered by the Iraqi government.
The center will provide Jordanian companies with the opportunity to learn about Iraqi industries and agricultural products.
Leather, knitwear industries contribute 2.4% to GDP, says JCI
AMMAN, JORDAN - Representative of the leather industries and knitting sector at Jordan Chamber of Industry (JCI), Ehab Qadri, said...The sector's exports achieved a "remarkable" growth during the past year by nearly 21 percent, reaching $2.3 billion, compared to 2021.
The sector, as per data from Social Security Corporation, employs around 76, 000 workers, constituting 27 percent of the total workforce.
DFM registers 34,800 new accounts in 8 months
Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...The number of newly registered investor accounts exceeded 51 percent during the first eight months of the year
29 brokerage firms listed on the DFM conducted over 2.57 million deals on 80 billion shares worth $37.1 billion
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...The two sidies reviewed the state of their economic relations and also discussed the progress of Saudi Vision 2030 and its key programs
The Saudi finance minister met with an array of private sector players and Singaporean government agencies and discussed financial cooperation
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived
Energy, materials, and capital goods sectors faced y-o-y profit fell in Q2-2023 as Saudi Aramco's profits fell by 37.3%, while Dubai-listed companies saw a 28.6% profit rise
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea.
Turkey's foreign minister Hakan Fidan said on a visit to Moscow on Thursday that reviving the deal to ship Ukrainian grain across the Black Sea was "critical" for food security.
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...The surplus would be directed towards reducing public debt, raising the reserves of the Qatar Central Bank.
It would be used for enhancing the savings of future generations through the Qatar Investment Authority.
