Trump metal tariffs wreak havoc on US factory
Belcamp, United States --Â In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
Business
Economy
EU reports employment rate of 75 percent in 2022
BRUSSELS, BELGIUM - In the European Union countries, 75 percent (193.5 million) of people in the 20-64-year- age group were...
- The employment rate in the EU dropped to 72 percent in 2020 due to the COVID-19 pandemic.
- In 2022, the EU over-qualification rate was 22 percent, with 21 percent for men and 23 percent for women.
Business
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
- The event, on May 1-4, will see global travel, tourism, and hospitality experts discuss how their industry is ‘Working Towards Net Zero’.
- Exhibitor participation in the event has risen by 27 percent compared to last year’s event, with growth registered across all show sectors.
Business
DEWA keen to enhance happiness in work environment, says CEO
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
- "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
- "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.
Economy
UAE keen to expand ties with Uzbekistan beyond clean energy: Al Mazrouei
Suhail bin Mohammed Mazrouei, Minister of Energy and Infrastructure, said the UAE was keen to widen ties with Uzbekistan in...
- Al Mazrouei maintained that the UAE will continue to help Uzbekistan in achieving economic and investment goals
- President Mirziyoyev of Uzbekistan praised the UAE for supporting the Central Asian nation in its quest for growth and development
Qatar shakes off post-World Cup blues with big spending
Akbar al-Baker, head of Qatar's tourism agency and Qatar Airways, said hotel occupancy in the months after a World Cup...
- Luxury hotels built for the tournament in Qatar have laid off hundreds of staff as rooms costing thousands of dollars a night during the tournament can no longer be filled
- Qatar has made investments in tourism and hosting more major events a focus and it will welcome more than five million visitors this year, says the head of Qatar's tourism agency
Economy
Iran-EU trade posts 9.2% drop to US$847mn in first two months of 2023
Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering...
- Eurostat data shows Germany was the top trading partner of Iran in the EU region during the period, as the two countries exchanged $279 million worth of goods
- The Islamic Republic exports to the EU jumped to $1.08 billion in 2022 as against $904 million in the same period of last year
Business
Twitter to permit publishers to charge users on a per-article basis
The announcement came as Musk has struggled, amid frequent controversy, to make Twitter profitable. The per-article approach, some Twitter users...
- Musk said the plan would begin next month, but provided no details on exact pricing or what cut Twitter would take
- It raises questions about how exactly he hopes to make the micro-payment approach work when others have failed
Business
Investors set to boost allocations to gold, miners
Rallying of gold prices and growing concern about a potential global banking crisis are seen as key reasons for the...
- Rallying of gold prices and growing concern about a potential global banking crisis are seen as key reasons for the increased allocations, says a latest global report
- Gold and gold mining stocks are likely to make up 6 percent or higher of core holdings, believe 60% investors, adds Tresor Gold, a data-driven gold mining company
Business
DET to highlight Dubai’s tourism in Arabian Travel Market
DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination,...
- DET is supposed to highlight how the city’s tourism industry is supporting the journey towards achieving the UAE’s Net Zero 2050.
- DET will showcase cuisine from Emirati businesses and local, homegrown brands whilst ensuring that all giveaways are sustainable.
Geostrategy
Jordan’s exports to EU nations in January,  February 2023 rose to US$87m
AMMAN, JORDAN - Value of Jordanian exports to European Union countries increased during January-February period of 2023, by 108.5 percent...
- Jordan's imports from the EU nations in January, February 2023 rose to reach US$671 million.
- Trade exchange between Jordan and EU countries in January, February 2023 amounted to about US$758 million.
Company News
Oil prices rise following Red Sea attacks
Market Report
AviLease, SDH Wings Sign MoU
Business
Latest News
Philips to halt sales of sleep machines in US
It posted losses to the tune of US$502m during the year 2023.
Business
Iran and Turkey to set up free trade zone at border in Khoy city
Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy...
Business
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
Business
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Business
Dubai RTA awards US$95m contract to upgrade ticketing system  Â
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing...
- The aim is upgrade the existing card-based ticketing system to an account based ticketing system, aligning with the top global practices.
- It seeks to develop a flexible and 100 percent scalable digital infrastructure, ensuring 100 percent fintech integration in mobility solutions.
Business
KACST, ACWA Power sign pact
The aim is to develop technologies for clean energy.
- The center will conduct studies, scientific research, and work to attain technical development in clean energy and water sector.
- It will also work in developing solar energy technologies, energy storage technologies to support future energy networks.
Business
Saudi Arabia launches global tourism campaign featuring Messi
Riyadh, Saudi Arabia -- Saudi Arabia's national tourism brand, "Saudi Welcome To Arabia," has launched a new global marketing campaign...
- The campaign, called "Go Beyond What You Think," aims to address misconceptions about Saudi Arabia and encourage people to experience the country's cultural transformation.
- The campaign launch coincides with Messi's upcoming return to Saudi Arabia, where he will play two matches with his club, Inter Miami, against Al Nassr and Al Hilal.