Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
Economy
Economy
Saudi Arabia and Kazakhstan to boost environment, agriculture ties
Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture.The strengthening of...
- The discussion happened during a meeting between President of Kazakhstan and Saudi Arabia's Minister of Environment, Water and Agriculture in Astana
- Both leaders explored opportunities to boost trade in agricultural products, and discussed issues concerning environment, water and food security
Malaysia’s edible oil industry eyes Middle East market
As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing...
- As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing demand for edible oils and fats
- Enticing partnership prospects exist in the palm oil sector between Malaysian and Middle Eastern companies, with common halal food standards providing a strong foundation
Geostrategy
Over 113 Emirati projects in Ethiopia, trade exceeds $6bn, says UAE envoy
ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the...
- Masdar signed a joint development agreement with the Ethiopian government in January 2023 in Abu Dhabi to develop two solar power plants.
- Ethiopia is a key investment partner for the UAE in East Africa, as it has a large and emerging consumer market of over 100 million people.
Economy
UAE firms operating in Ethiopia enrich bilateral ties
There are more than 121 Emirati companies operating in the Ethiopian market, contributing to enriching relations between the two countries...
- The public and private sectors in the UAE and Ethiopia have been keen to enhance economic cooperation, leading to increased investments and intra-trade values
- An increased coordination between the two countries gives Emirati companies a greater impetus to invest in various sectors in Ethiopia, sys a key UAE official
Economy
Unrelenting demand propels Dubai home prices up by 17% in 12 months
Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023,...
- Villa prices have experienced stronger growth, increasing by 51% over the same period, with an average price of AED 1,520 per square foot
- Prime neighborhoods like Jumeirah Bay Island, Emirates Hills, and Palm Jumeirah have seen extraordinary growth, with villa prices up by 125% since January 2020
Science
Saudi CST urges public for feedback on ‘space use plan’ for frequency spectrum
Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space...
- It has given all "interested parties" in the kingdom and outside a time until September 10 next month to provide views and observations
- Early this year, CST announced the formation of a Space Entrepreneurship Alliance to achieve growth and sustainability in the sector
Economy
Saudi Arabia and India sign agreement on digital economy
Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing.The agreement seeks...
- The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning
- It also aims at building robust strategic partnerships that promote innovation and the growth of the digital economy
Interview
Challenges prevail as UAE adapts to remote work
The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries,...
- The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Doherty of Connect Resources tells TRENDS
- The UAE government has granted ministries and federal entities the flexibility to implement the remote work system for federal government employees on some working days
Economy
‘UAE’s humanitarian endeavors resonate globally’
"The UAE's humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope. We have...
- The UAE's humanitarian approach is woven into its overarching vision and exemplified by the noble characteristics of the country's various initiatives, says the MoHAP minister
- Its humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope, adds Abdulrahman bin Mohamed Al Owais
Business
China’s investment rises 23% in BRI countries in Jan-July 2023
BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in...
- This growth amounts to approximately US$13.69 billion, constituting nearly 20 percent of the overall investment in January-July 2023.
- The value of newly signed contracts amounted to US$103 billion, indicating a marginal 0.6 percent year-on-year increase.
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Company News
Saudi, UAE report highest levels of gross debt
Infographics
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WEF24: AI needs to unite public and private sector
There is a need to align AI goals between public and private sectors to balance cost reduction with job creation...
Moody’s downgrades Israel’s credit rating due to Hamas conflict
Fitch -- which is the last of the big three US ratings agencies -- placed Israel on negative watch over...
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
Business
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Business
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
- DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
- The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
Economy
UAE real GDP to grow 5.3 percent in 2024: S&P Global
Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according...
- The ratings agency said the country's high oil production and support from non-oil sectors will drive economic growth in the UAE in 2024
- The agency affirmed that several banks in the UAE achieved record profits in 2023 due to strong credit growth in a rising interest rate climate