IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
Economy
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
Economy
Business
Sharjah Chamber continues boosting the Emirate’s competitiveness
SHARJAH, UAE - Sharjah Chamber of Commerce and Industry (SCCI) in 2022 continued its role in creating investment environment and...
- Sharjah Chamber bolstered its competitiveness by protecting the interests of businessmen and supporting its members in the private sector.
- The Chamber contributed to the growth of the local economy across all sectors, promoting export and re-export activities of its members
Business
Iraq chamber asks government to tie up with German construction firms
Baghdad, Iraq-- The head of the Federation of Iraqi Chambers of Commerce - FICC, Abdul Razzaq Al-Zuhairi, called on the...
- FICC and the Federation of Iraqi Industries participated in the meetings between the two parties during the visit of PM Muhammad Shia Al-Sudani to Berlin.
- The Iraqi delegation seeks to encourage German companies and businessmen to invest in Iraq, FICC said in a statement.
Economy
Aircraft with 72 passengers on board crashes in Nepal
The airline spokesperson said that 68 passengers were on board along with four crew members and that rescue is underway....
- Footage shared on social media showed flames on the ground and black smoke billowing into the sky
- Air traffic control lost contact with the twin-propeller Twin Otter shortly after it took off from Pokhara and headed for Jomsom, a popular trekking destination
Business
UAE urges new investments in energy sector to meet demand
Abu Dhabi, UAE-- The UAE has stressed the need for speeding up new investments in the energy sector in order...
- The minister affirmed the UAE's commitment to providing the necessary support to ensure a balanced oil market in line with its plan to advance the 5 million bpd production target
- He noted there are geopolitical factors in the region and around the world that influence the global energy map
Opinion
Technologies revolutionize food-service industry
That’s because today’s consumer has grown used to the convenience of online ordering – and they’re even willing to cut...
- The latest technologies have revolutionized the food-service industry in more than one way, writes Naji Haddad, MENA General Manager at Deliverect
- In 2022, operators faced new challenges like price rise and labor shortages. While consumers returned to in-house dining, the online food delivery markets continued to grow
Geostrategy
UAE energy minister, Romanian counterpart discuss cooperation
ABU DHABI, UAE - UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation...
- The UAE and Romanian ministers discussed importance of international cooperation to address climate change.
- The ministers discussed ways and means to develop cooperation between the two countries
Business
Ahmed Galal Ismail replaces Alain Bejjani as Majid Al Futtaim CEO
The reasons behind the change of guard were not immediately clear as Ismail takes charge as chief executive officer of...
- Ismail had previously served as CEO of Majid Al Futtaim - Ventures and VP Strategy of Majid Al Futtaim Holding
- Majid Al Futtaim reported revenue of AED 18 billion for the first half of 2022, an increase of 15 percent during the same period in 2021
Business
Masdar inks pact with 4 Dutch firms for exporting green hydrogen from Abu Dhabi
ABU DHABI, UAE - Masdar signed an agreement with four Dutch companies to explore the development of a green hydrogen...
- Masdar, , one of the world’s leading clean energy companies, inked an agreement with Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy.
- Green hydrogen is produced with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis.
Geostrategy
Europe will return to Russian gas, says Qatar energy minister
ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company...
- Russian gas exports to Europe plunged after Moscow's invasion of Ukraine.
- A mild winter has spared European countries from having to plunder their gas stockpiles.
Business
Dubai emerging as a global hub for superyachts
Streamlined legislation, increased investment in infrastructure and hosting of international maritime events contribute towards growth of Dubai’s yachting industry.
- Streamlined legislation, increased investment in infrastructure and hosting of international maritime events contribute towards growth of Dubai’s yachting industry
- After Dubai’s participation recently at the Monaco Yacht Show, and the recent Gulf Superyacht Summit 2022 hosted in Dubai the future looks bright for Dubai’s yachting industry
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
Economy
Company News
Aramco profits down
Business
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Agthia Group revenue soars
Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...
Business
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
Business
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Business
Iran-Azerbaijan trade registers 46 percent jump in 2022
Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime...
- The deputy PM was speaking at the inauguration ceremony of the new Astara-Astara border bridge
- He said the two countries would see significant growth in the transit sector in the coming years
Business
Visitors flock to Sheikh Zayed Festival, boosting exhibitors’ sales
Abu Dhabi, UAE--Sheikh Zayed Festival is witnessing a large public turnout from citizens, residents and tourists from all over the...
- The Heritage Village saw a huge crowd of visitors buying products made by Emirati families, boosting the businesses and industries
- Visitors can avail discounts on a wide range of products across all pavilions and sections, in addition to having new food experiences
Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.