Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Business
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
- The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
- The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Business
Evergrande shares sink after restructuring plan scrapped
Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...
- The company collapsed more than 25 percent by the break, underscoring market concerns as China's property sector faces an unprecedented crisis
- On Sunday evening, Evergrande announced that it was unable to issue new debt as its subsidiary, Hengda Real Estate Group, "is being investigated"
Economy
Germany’s housing sector slumps into crisis
Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning...
- Experts believe the sector will struggle to even hit 250,000 in new build approvals this year
- Housing Minister Klara Geywitz recently announced plans to offer aid to help families get on the property ladder
Economy
Foreign direct investment crucial for economic growth
At this year's technology summit in the United States, which spotlights economic diversification through the strategic use of energy-generated wealth,...
- Qatar's Ahmad bin Mohammed Al Sayed underscores the pivotal role of foreign direct investment in economic diversification and job creation
- The summit gathers global leaders to address key challenges in economic diversification and the impact of technology on rural populations
Economy
UAE and Japan hold discussions to boost economic, strategic ties
Tokyo, Japan-- The UAE and Japan have held discussions to boost partnership in various sectors of the economy even as...
- Al Jaber chaired the first ministerial meeting of the comprehensive strategic partnership between the two countries in Tokyo
- He met with the Japan's minister of economy to explore avenues for bilateral relations, including the latest developments in trade and investment
Science
NASA capsule brings to Earth first major asteroid sample
Dugway, United States-- A seven-year space voyage came to its climactic end Sunday when a NASA capsule landed in the desert...
- The sample, according to scientists, will provide a better understanding of the formation of our solar system and how Earth became habitable
- NASA scientist Amy Simon said the sample return is "really historic" and it is the biggest sample NASA has brought back since the Apollo moon rocks
Economy
Jordan, Egypt and Iraq pledge to boost ties in economic and political fields
New York, US-- Jordan, Iraq, and Egypt have pledged to cement the partnership between themselves in order to boost cooperation...
- The foreign ministers of the three countries met in New York on the sidelines of the 78th session of the United Nations General Assembly in New York
- They reaffirmed the importance of completing the projects and taking the new initiatives in the fields of electrical connections, renewable energy, communications, trade
Infographics
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
- Gulf Cooperation Council economies are the most competitive in the Middle East region, according to the latest IMD World Competitiveness Ranking.
- In the 2023 IMD World Competitiveness Ranking, the top three economies are Denmark, Ireland and Switzerland, while the US ranks seventh.
Geostrategy
GCC chief highlights importance of boosting ties with UK
New York, US--Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, has stressed the importance of strengthening ties with...
- Albudaiwi made the remarks during a meeting with Lord Tariq Ahmad, UK's Minister of State for the Middle East, North Africa, South Asia, in New York
- During the meeting many issues were discussed, including the developments in the negotiations of the FTA between the GCC and the UK and Northern Ireland
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Company News
Latest News
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
Business
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
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Economy
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
- China, according to Wentao, supports efforts such as the restoration of the normal functioning of the WTO's dispute settlement mechanism
- The minister said China also supports the inclusion of the agreement on investment facilitation for development into the WTO's legal framework
Economy
WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
- The WTO economist said the UAE is a "natural fit" for hosting the ministerial conference, praising the country's focus on low tariffs and export diversification
- Ossa said the conference is looking to make progress on range of issues such as the reform of dispute settlement system, constraints on subsidies leading to overfishing
Economy
Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...
- The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the WTO's members, would require full consensus before it could be formally incorporated
- Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries