Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
Economy
Economy
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition.The MoU...
- The agreement underscores keenness in both countries to consolidate cooperation in green transition as the relations deepen
- The two countries will devise green transition policies and programs and develop technologies for environment conservation
Economy
It’s time to address universal issues through media
Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly...
- The Philippines believes in the value of nations working together to explore new approaches to address global issues and concerns, through the media
- Given the strong friendly relations between the Philippines and the UAE, there is much more potential in many areas, especially in the media sector
Economy
Red Sea Global launches ‘Tamala’ to transform agricultural economy in Tabuk
Riyadh, Saudi Arabia--Red Sea Global (RSG) has announced the launch of the Red Sea Farms Cooperative (Tamala), established through integrated...
- Tamala intends to develop a model entity in order to boost the role of cooperatives in the agricultural sector in the kingdom
- It plans to provide agricultural inputs to farmers which contribute to improving agricultural production and farmers' quality of life
Economy
Iraq to harness Associated Petroleum Gas to generate electricity
Baghdad, Iraq - The Iraqi government has launched a project to harness the Associated Petroleum Gas (APG) from the Bin...
- The project's principal advisor Mounir Bouaziz said that the field's production capacity is scheduled to range from 400,000 to 500,000 barrels of light oil per day
- Once completed, the project will eliminate the need for import of a significant portion of gas while also meeting the requirements for operating electric power plants
Geostrategy
Tehran exports goods worth $7.2bn to West Asia in 4 months from March 2023
TEHRAN, IRAN - Iran exported $7.2 billion worth of products to West Asian countries in the first four months of...
- Comprehensive strategic five-year plans have been defined for the West Asian countries with a focus on trade infrastructure.
- The plans include organizing and development of transportation platforms, banking exchanges, customs and standards.
Business
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...
- Iran was the world’s seventh largest steel producer in June with an output of 3.2 million mt, up 17.4 percent from June 2022, the report added.
- For years, Iran had been ranked 10th globally in the list of top steel-producing countries.
Business
stc Group begins work in Europe
stc’s subsidiary TAWAL buys assets in eastern Europe.
- TAWAL aims to ensure a reliable and efficient ICT infrastructure network to all mobile networks operators in the market.
- TAWAL aims to bring significant investments, best processes and practices, as well as innovative products to its portfolio.
Economy
Bahrain to partner with private sector to ramp up investments in oil projects
Manama, Bahrain--Bahrain has indicated its keenness to encourage investments in the kingdom's oil and environmental projects through partnerships with the...
- The oil minister said that investments can be made in partnership with the private sector, especially banks providing the necessary support
- He made the remarks in a meeting with Abdulfattah Sharaf, HSBC Bank Middle East Board of Directors Chairman, and the accompanying delegation
Economy
Saudi Arabia to host CAF Super Cup match between Al Ahly and USM Alger
Johannesburg, South Africa--The 2023 CAF Super Cup match between Al Ahly of Egypt and USM Alger of Algeria will be staged...
- The Super Cup first staged in 1993 has been won a record eight times by Ahly, followed by Egyptians Zamalek (four titles) and TP Mazembe (three titles)
- CAF general secretary Veron Mosengo-Omba said the kingdom has made big strides in global football and the Super Cup is now in a new territory
Economy
COP28 to help green transition in developing nations
"International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change...
- The UAE's hosting of the COP28 will act as a leverage for international focus on climate action in the region
- Reports indicate that the Middle East and North Africa region is the most vulnerable to climate change risks
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
Company News
Top economists warn global economy will weaken in 2024
World Economic Forum
Latest News
Saudi Arabia enacts law to safeguard whistle-blowers and witnesses
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts,...
Economy
UAE is an exceptional economic leader in Middle East
"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative...
Economy
South Korea presses for enhanced ties with UAE in high tech and AI
Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...
Economy
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Business
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
- Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day.
- Officials in the world's biggest crude exporter did not explain the move, leaving analysts to speculate that it reflected lack of confidence
Business
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
- The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
- In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Economy
Global changes call for adaptable fiscal policies
He highlights the UAE's strategic priorities, including the future of fiscal policy, the application of sustainable fiscal policies to foster...
- The Eighth Arab Fiscal Forum, held in Dubai, focuses on sustainable development and economic resilience.
- Key discussions includes balancing public revenues, managing debt, and combatting climate change.