Saudia Cargo signs deal with Jan de Rijk

• As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
• Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions

Eurozone witnesses steepest downturn in eight months in July

• "The eurozone economy will likely move further into contraction territory in the months ahead, as the services sector keeps losing steam."
• The eurozone's struggles were fueled by steep downturns signaled by surveys from economic powerhouses France and Germany.

Abu Dhabi Maritime signs MoU with ADNOC Distribution

• The agreement between the two underscores the ongoing effort to strengthen Abu Dhabi's maritime sector
• Director-General of Operational Affairs at the DMT said that "together, we will unlock the untapped potential of our shores"

Jordan and Algeria look to ramp up trade, parliamentary ties

• The head of the Jordanian-Algerian Parliamentary Committee and Algerian ambassador discussed boosting of ties between the two countries
• The ambassador reiterated her country's commitment to improving ties with the kingdom, adding that a tax-free customs zone will be set up in the near future

Ruwad approves financing for several projects in various sectors

• In the second quarter of this year, Ruwad received some 102 application from projects for the Ruwad membership, of which 66 were approved
• According to Ruwad, the food sector stood at top of the list that secured the membership during the second quarter of 2023

UAE president meets with Arab and EU leaders in Italy

• The UAE has announced a contribution of US$100 million to support developmental projects in countries affected by irregular migration
• The heads of the European Commission and the European Council, and the Tunisian president and Lebanese PM applauded the UAE for the aid

Tourism turns the Kingdom into a rising global star

Strong growth key to GCC’s FDI appeal

• The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
• The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.

Dubai Customs processes over 14m transactions in first six months of 2023

• Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests.
• Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions.

Dubai seeks to unleash high-powered growth for its family business sector

• The government is introducing initiatives to future-proof family businesses and bolster their competitiveness and growth capabilities in a global environment.
• Dubai has introduced new legislative measures aimed at helping them navigate the challenges and opportunities brought by a global economy in transition.