Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
Economy
Economy
Qatari economy records 2.7% growth in Q1 2023
Doha, Qatar – The Qatari economy has reported a growth rate of 2.7 percent during the first quarter of 2023...
- When compared to the revised estimates for the fourth quarter of 2022, which were $48.61 billion, there was a 3.9 percent decrease in the GDP
- The nominal gross value added tax estimates for mining and quarrying activities at current prices in the first quarter of 2023 reached $22.09 billion
Business
DFM registers 34,800 new accounts in 8 months
Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...
- The number of newly registered investor accounts exceeded 51 percent during the first eight months of the year
- 29 brokerage firms listed on the DFM conducted over 2.57 million deals on 80 billion shares worth $37.1 billion
Economy
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
- The two sidies reviewed the state of their economic relations and also discussed the progress of Saudi Vision 2030 and its key programs
- The Saudi finance minister met with an array of private sector players and Singaporean government agencies and discussed financial cooperation
Opinion
Logistics delivers boom with value-added services
"A top-tier, industry-specific enterprise resource planning (ERP) solution is vital for efficiently delivering these value-added services. Distributors grapple with supply...
- The Middle East and African freight and logistics market is predicted to record a compound annual growth rate of about 6% between 2023 and 2028
- To tap into growth opportunities in the region and for better results, distributors must consider incorporating value-added services into their strategies
Geostrategy
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
- Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea.
- Turkey's foreign minister Hakan Fidan said on a visit to Moscow on Thursday that reviving the deal to ship Ukrainian grain across the Black Sea was "critical" for food security.
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Economy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
- The surplus would be directed towards reducing public debt, raising the reserves of the Qatar Central Bank.
- It would be used for enhancing the savings of future generations through the Qatar Investment Authority.
Business
Agri-Nutrients SABIC, US firms together support sustainable farming
RIYADH, SAUDI ARABIA - Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
- Through these collaborative efforts SABIC aims to help reduce the carbon footprint in the agricultural supply chain.
- Farmers will use SABIC's bio-fortified urea for the 2023 agri-nutrient season and enroll in ADM's Re:Generations program.
Geostrategy
UAE, New Zealand discuss economic cooperation, free trade pact
DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
- The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
- UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Economy
At 5%, Middle East has highest GDP share from tourism: report
Dubai, UAE - The Middle East has seen the strongest rebound in the post-pandemic global tourism recovery, according to a...
- Saudi Arabia and Türkiye recorded almost pre-pandemic levels of tourist arrivals in Q1 2023
- Asia Pacific is second, with over 4 percent of the region’s GDP coming from tourism
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
Company News
WTO head ‘less optimistic’ for world trade due to Red Sea strikes
World Economic Forum
Latest News
World Economic Forum foresees ‘significant economic slowdown’
World Economic Forum
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
Business
WTO chief insists global trade body still counts
WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the...
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Geostrategy
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
- Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran as “a very important partner.”
- The 18th meeting of the Iran-Armenia Joint Economic Commission was held on February 14-15 in Tehran to further foster economic ties between the two countries
Business
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
- The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
- The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Geostrategy
Tunisia gets new central bank chief amid economic crisis
TUNIS, TUNISIA - President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African...
- Fethi Zouhair Nouri, a 69-year-old member of the central bank's board, will succeed 64-year-old Marouane Abassi.
- Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions.