Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...Business Economy Geostrategy
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...Business Economy
Fitch enhances Ras Al Khaimah rating to ‘A’, outlook upgraded to ‘positive’
The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy,...The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report.
The emirate’s agility in terms of spending has led to a budget surplus in the government sector equal to 1.4 percent of GDP in 2021, adds US-based credit rating company.
Jordanian firms forge trade partnerships at APAS Show 2022
Jordanian companies forged trade partnerships during their participation in the APAS Show 2022, an annual food and beverages exhibition held...Seven companies participated in the Jordanian pavilion, which was organized by the Jordanian-Brazilian Business Association and Jordan Exports.
Jordan Chamber of Industry President Fathi Jaghbir said the "successful" Jordanian participation has laid the groundwork for future business.
MA’ADEN, GlassPoint to develop heat plant
The facility will be the world's largest solar process heat plant.When completed, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually.
This represents more than 50 percent reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.
OPEC to boost oil production as prices surge and EU bans Russian imports
Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring...Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they have done since May 2021.
OPEC+ drastically slashed output in 2020 as demand slumped when the world locked down under the coronavirus pandemic.
ADNOC L&S acquires 3 LNG vessels
In April the company announced it will acquire two LNG vessels.All five new-build LNG vessels will be built at the Jiangnan Shipyard in China.
ADNOC L&S, the shipping and maritime logistics arm of ADNOC, is region’s largest shipping and logistics company.
Kuwait crude oil export to Japan climbs 7.6% to 6.61m barrels
Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day...Kuwait overtook Qatar to become Japan's third-biggest oil provider last month
Japan's overall imports of crude oil grew 9.9 percent year-on-year to 2.92 million bpd, up for the ninth month in a row
dnata to invest $100m in green ops
dnata, global air and travel services provider, announced that it would invest $100 million in green operations in the next...The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives.
The company said it aims to reduce its carbon footprint by 20 percent by 2024, and by 50 percent by 2030.
AFZ e-commerce grows 45 percent
The Free Zone announces this at Seamless Middle East 2022.AFZ said the growth can be attributed to the authority's diverse set of offerings, primarily warehouse solutions and the evolving e-commerce sector in the UAE.
The dedicated logistics cluster also benefits e-commerce businesses by providing access to end-to-end warehousing capabilities, AFZ said.
Qatar launches Advanced Manufacturing Hub in partnership with WEF
The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network.The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network
Qatar's AMHUB is one of 13 platforms that were launched by WEF all over the world whose aim is to enhance the future of the industrial sector internationally
Demand for garments, footwear stagnant in Jordan
Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has...Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr
He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break
