Asian markets up, Tokyo hits record as US tech earnings jump
Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from...
Business
Economy
Social cost of 2019’s plastic more than GDP of India
There is increasing international alarm over the sheer volumes of fossil-fuel based plastics entering the environment, as microplastics have infiltrated...
- It estimated that unless there was concerted international action, a projected doubling of plastic production could see costs rocket by 2040 to $7.1 trillion.
- Since the 1950s, roughly 8.3 billion tons of plastic have been produced with around 60 percent of that tossed into landfills or into the natural environment.
Business
TotalEnergies inks $27bn deal to power Iraq
The French firm, formerly called Total, will now build four power projects in Iraq.
- Iraq said this was the largest investment in Iraq by a Western company
- Iraq has immense reserves of oil and gas, but is facing an acute power crisis despite that
Oman Air inks deal in tourism push
The national carrier of Oman inked the deal with tripsnstay.
- The agreement follows the recent announcement of Oman easing travel restrictions
- The country on September 1 reopened its doors to vaccinated travelers with a negative PCR test result
Al Zorah selling new Ajman plots
Th plots are part of phase 2 of The Fairways project in Ajman.
- This phase of the project is said to feature a total of 90 townhouses, 71 villas, and 33 buildings
- All of them will be overlooking the golf course and the Al Zorah Mangrove
Business
DP World, FESCO to study Russia berth
Vladivostok and Murmansk identified as transshipment hubs.
- The berth will help expand Vladivostok Commercial Seaport as a transshipment hub connecting cargo from East Asian countries to North-West Europe via the Northern Sea Route.
- A record 33 million tons of cargo was carried along the route in 2020.
Business
Amazon Web Services will help firms drive innovation: Dubai FDI
DUBAI: The Dubai Investment Development Agency (Dubai FDI), the investment promotion agency of Dubai Economy, has said Amazon Web Services’...
- AWS plans to open data centers in the UAE in 2022.
- The new AWS Middle East (UAE) Region will consist of three Availability Zones and become AWS’s second region in the Middle East.
Emirates Post names new chairman
EPGC has announced that Badr Al Olama is its new chairman.
- Badr Al Olama is the current executive director of the UAE Clusters at Mubadala’s Investment Company
- He also spearheads the organizing committee of the UN-backed Global Manufacturing and Industrialization Summit
Business
Bahrain cuts truck wait duration by 15 times
Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.
- Bahrain said it has reduced the average waiting period for such loaded trucks to just 52 minutes in the first half of August
- This was in comparison to the 757 minutes — more than 12 and a half hours — in the previous years
Research
Five cities poised to become GCC tech hubs
As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as...
- The UAE has become a technological leader in hosting the world's largest event, Expo 2020 Dubai.
- In February 2021, 24 global firms had signed agreements to open regional offices in Riyadh.
Business
Kuwait’s equity market gains for sixth consecutive month
DUBAI: Kuwait’s equity market sustained its upward momentum in August as Kuwait All Share index rose 3.1 percent for the...
- Consumer goods sector top gainer followed by banks.
- S&P GCC composite index gained 3.6 percent in August as all GCC markets, except Oman, were positive for the month.
Asian markets up, Tokyo hits record as US tech earnings jump
Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from...
Business
Company News
Eshraq to buyback shares
Business
Latest News
Seventh Al Dhaid Date Festival witnesses huge turnout
SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a...
Business
UAE is fourth biggest market for Indian spices
NEW DELHI, INDIA -Â The UAE ranked fourth in the world among the top 12 markets for Indian spices in...
Business
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Economy
GAFTA imports from Jordan shoot up 16.6% to US$1.60bn
Amman, Jordan-- Exports to Greater Arab Free Trade Area (GAFTA) countries from Jordan increased 16.6%, amounting to $1.60 billion, compared...
- The value of Jordan's imports from GAFTA recorded a 13.8 percent drop during the January-May period of 2023 to $2.69 billion
- The kingdom's trade balance deficit with the GAFTA countries dopped at the end of May this year to about US$1.08 billion
Economy
Jordan’s exports to EU climb 23.4% to US$192m in first five months of 2023
Amman, Jordan--Jordan's exports to the European Union (EU) shot up 23.4 per cent during the first five months of 2023...
- The value of the kingdom's imports from the EU during the first five months of 2023 rose 3.6 per cent to $1.66 billion
- Germany topped the list of countries from which Jordan imports, with the value of import climbing to $356 million
Economy
COP28 president urges G20 to take lead role on climate action
Speaking at G20 Climate Sustainability Ministerial Meeting in India, Dr. Sultan Al Jaber said G20 makes up some 85 percent...
- He urged all to demonstrate commitment to the UN Secretary General’s Climate Solidarity Pact and Acceleration Agenda
- The upcoming COP28 will be the first edition of the conference to explicitly link climate impacts to global health