Qatar’s Producer Price Index for Feb down 0.33 percent year-on-year
Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability...
Business
Geostrategy
Jordan Minister calls for MENA-Europe electric connection project
AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to...
- Jordan's Minister said electric connection with Europe achieves integration by supplying the continent with relatively low-cost energy.
- He said that Jordan seeks to turn its electric power grid into a smart one.
Business
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...
- The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
- Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.
Economy
ADDED digitally links freezones in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones...
- The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE.
- They will enhance the country status in following highest level of international standards of transparency and governance.
Geostrategy
Gas price cap divides EU energy ministers’ meeting
BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...
- They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
- Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Business
Stocks rise, dollar slips as Fed signals softer rate hike pace
Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy...
- Bets were growing on officials announcing a 50-basis-point lift at their December gathering, down from four straight 75-point hikes
- Investors are keeping a close watch on China after it announced new Covid cases on Thursday as authorities worked to curb the spread with snap lockdowns
Business
Journalists have much to lose if Twitter dies
Journalists have been tied to the platform for announcements by politicians and celebrities -- most famously the dreaded late-night and...
- There has been fevered talk of the platform's imminent demise since billionaire Elon Musk took over last month and began firing vast numbers of staff
- End of the Twitter could spur a return to "more traditional ways of researching and reporting", said Mathew Ingram, digital media specialist at the Columbia Journalism Review
Business
KEZAD Group breaks ground on UAE’s largest e-commerce fulfilment centre
The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement.
- The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement
- KEZAD Group is the integrated trade, logistics, and industrial hub of Abu Dhabi and a fully-owned subsidiary of AD Ports Group
Business
KIPCO merges with QPIC
It will now trade on Boursa Kuwait under KPROJ.
- KIPCO's authorized, issued and paid-up capital now stands at $1.55 billion distributed over 5.048 billion shares
- KIPCO's market capitalization is now over $1.94 billion, it said, adding that the combined portfolio would further diversify revenue streams
Business
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...
- Thirteen government entities are scheduled to participate in the joint exercise, in addition to some entities from the private sector
- It will enhance the capabilities of AD Ports Group and other participating entities for addressing potential risks in incidents that require a coordinated response
Business
North Africa takes lion’s share as fintech and sustainability lead MENA startup scene
Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says...
- Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.
- A total of $230 million in funds are focusing on MENA-based businesses and an additional $60 million for female investors in Africa, a report highlights
Qatar’s Producer Price Index for Feb down 0.33 percent year-on-year
Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability...
Business
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Storm-1152: Vietnam-based creator of fake Microsoft accounts
Seoul, South Korea - Microsoft has seized the websites of a Vietnam-based group it alleges sold millions of fake accounts to...
Geostrategy
Finland’s Vaisala to equip Kuwait airport with observation system
Kuwait City, Kuwait -- The Directorate General of Civil Aviation (DGCA) of Kuwait has inked a KD 6.7 million ($21.7...
Business
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Business
Dubai records $3.51 billion in weeklong real estate deals
Dubai, UAE -- The real estate and properties transactions valued at 12.9 billion ($3.51 billion) in total during the week...
- A total 304 plots were sold for AED 3.53 billion, 2,744 apartments and villas were sold for AED 7.15 billion.
- The sum of the amount of mortgaged properties for the week was 1.77 billion, with the highest being a land in Trade Center Second, mortgaged for AED 364 million.
Business
GCC region’s non-hydrocarbon growth momentum strong: IMF
Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital...
- A comprehensive package of policies should be implemented to respond to near-term shocks and uncertainty and to firmly address medium- and long-term challenges.
- The IMF affirmed that structural policies should continue focusing on diversifying the economies away from hydrocarbon.
Business
EU seeks critical details from Apple and Google on digital safety
Brussels, Belgium - The EU demanded on Thursday that Apple and Google provide more details on how they identified risks concerning...
- The European Commission said it wanted "more information on how" Apple and Google "have diligently identified any systemic risks concerning the App Store and Google Play"
- It also wants the companies to demonstrate that they have complied with rules on digital marketplaces and transparency about adverts in order to protect users online.