Equities sink, oil rallies on fears of Iran-Israel conflict
Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
Economy
Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
Economy
Qatar establishes itself as a top tourist destination
"Qatar Tourism is committed to building on the success of the FIFA World Cup 2022 and continuing to promote the...
- Hosting the FIFA World Cup 2022 contributes to a record-breaking number of tourists visiting Qatar, says Qatar Tourism chief
- Qatar Tourism focuses on promoting cultural authenticity, modern infrastructure, and a world-class travel experience, he adds
Business
Qatar Chamber looks to burnish lackluster gold and jewellery sector
Doha, Qatar-- In order to remove obstacles facing the gold and jewellery sector in the country, Qatar Chamber has reviewed...
- The chamber meeting discussed bottlenecks facing the sector and the proposals received by the committee as per the results of a survey conducted last month
- In order to develop the sector, the gold and jewellery committee was recently established to address and discuss the issues facing the sector in the country
Economy
Global food bill will rise to US$1.98trn in 2023, up 1.5%: FAO
According to a report by the FAO, the world food import bill is forecast to touch a new record this...
- The FAO's biannual report warns that the decline in food import volumes is a "concerning development", indicating a decline in purchasing capacity
- The report further says that world wheat production in 2023 is expected to drop by 3.0 percent from its all-time high of 777 million tonnes in 2022
Business
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...
- The beneficiaries of taxi services and franchise companies within the emirate amounted to 29 million passengers.
- The total beneficiaries of bus services amounted to about 5.3 million, with an average of 14,500 passengers per day.
Economy
ZATCA sets criteria for target firms to apply phase II of e-invoicing
RIYADH, SAUDI ARABIA - The Zakat, Tax and Customs Authority (ZATCA) has set the criterion for selecting target establishments in...
- ZATCA said that it will notify all targeted establishments in preparation for linking the electronic billing systems with the Fatoora platform, starting January 1, 2024.
- It stressed that phase II includes additional requirements including issuing E-invoices based on a specific format.
Economy
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
- The index of the mining sector showed an increase by 3.2 percent compared to the previous month (March 2023).
- For manufacturing the index of this sector showed an increase by 0.5 percent compared to the previous month (March 2023).
Business
ADDED signs pact with Valeo to set up automotive technology hub in Abu Dhabi
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry...
- Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities.
- The agreement to design and manufacture electric and autonomous driving car components will improve smart and sustainable mobility.
Economy
Iraq-UK economic ties strengthen on back of uptick in trade
London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between...
- The Iraqi-British trade exchange saw huge growth, with the commerce volume crossing one billion sterling pounds, and British exports to Iraq surging by 40 percent
- The cooperation between Iraqi and British universities has grown in recent years even as the UK has made investments in the social sector and education in Iraq
Business
More than dozen private joint-stock companies list in UAE in 2022
Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up...
- According to SCA, twelve companies listed on the Abu Dhabi Securities Exchange and one company listed on the Dubai Financial Market
- The listing of private joint-stock companies enable them to access a large capital base, besides opening the way to raise a company's brand value
Business
In spite of US sanctions, Iran’s crude oil exports break five-year record
Tehran, Iran-- In spite of the US sanctions against the Islamic Republic, Iran has seen a huge surge in the...
- China, the world's major importer of energy, has received a big chunk of Iran's crude oil, apart from Germany, Spain and Bulgaria
- According to the report, the Iranian crude oil shipments have nearly doubled since last autumn to touch 1.6 million barrels a day
Equities sink, oil rallies on fears of Iran-Israel conflict
Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
Economy
Company News
Mumtalakat, Investcorp ink pact
Business
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Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
Geostrategy
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...
Business
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
Economy
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Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
- UK government said it would invest $382 million building a high-assay low-enriched uranium programme that would help "displace" Moscow from global energy mar
- The British investment is part of plans to deliver up to 24 gigawatts of electricity from nuclear power by 2050, a quarter of the United Kingdom's electricity needs
Economy
Qatar rises as a premier sports tourism destination
“In addition to hosting a variety of sports events, especially the FIFA World Cup Qatar 2022, Qatar has shown the...
- Qatar has emerged as a top sports tourism destination with advanced infrastructure and facilities.
- The Gulf country boasts its successful hosting of FIFA World Cup 2022, voted the best this century.