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
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
Business
HUB71 reveals winners of The Outliers Program to address industry challenges
ABU DHABI, UAE - Hub71, Abu Dhabi's global tech ecosystem, on Tuesday announced the winners of The Outliers Program, which...
- Participating startups have been recognized for their innovative solutions in various challenges set by Hub71’s strategic partners as part of The Outliers.
- The winning startups were successful for the companies’ ability to implement innovative products and services that can have a positive impact.
Geostrategy
UN calls on Libya to treat migrants, asylum seekers with dignity
War-torn Libya is regularly criticised for its handling of migrants, with rights groups alleging horrific treatment by smuggling gangs and...
- Libyan authorities have arrested thousands of men, women and children from the streets and their homes or following raids on alleged traffickers' camps
- Libyan authorities must grant United Nations agencies and aid organizations "unimpeded access to detainees in need of urgent protection", UNSMIL added
Economy
UN working to renew Ukraine grain export deal
That crucial accord granting safe passage for Ukrainian grain to be exported via Black Sea ports despite Moscow's invasion was...
- Grain deal helped alleviate food shortages triggered by the Russian invasion of Ukraine, a major grain exporter, and its blockade of Ukrainian ports
- The resumption of Russia's ammonia exports through the pipeline is one of Moscow's conditions to continue with the grain export deal
Economy
UAE’s MoHRE extends deadline for companies to meet Emiratisation targets
Dubai, UAE-- The UAE'S Ministry of Human Resources and Emiratisation (MoHRE) has extended the deadline for private sector to hire...
- The ministry said the decision to give companies more time to reach their targets to hire Emiratis was taken by taking into account the Eid holidays
- MoHRE has warned companies in the private sector that non-compliance with the decision will invite a fine of AED42,000 for each Emirati not employed
Economy
10th Arab-China Business Conference ends with Riyadh Declaration
Riyadh, Saudi Arabia -- The 10th edition of the Arab-China Business Conference successfully concluded on Monday with the announcement of...
- The first day of the conference featured the signing of US$10 billion worth of investment agreements, spanning more than 30 deals across an array of sectors
- The conference featured 9 panels, 18 workshops, and several private meetings and hosted 150 speakers to explore, discuss Arab-Chinese economic cooperation
Economy
UAE and South Korea agree to support SMEs, entrepreneurship
Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small...
- The UAE's Minister of Economy, Abdullah bin Touq Al Marri, noted the strong business and strategic ties between the two countries, which continue to grow on many fronts
- South Korean FDI in the UAE, in insurance, mining, energy, real estate, touched US$2.2 billion in 2021, registering a staggering 73 percent growth since the beginning of 2013
Economy
US exhorts Tunisia to agree to IMF reforms after EU offer
The EU offered a 900-billion-euro aid package -- contingent on Tunisia reaching an IMF deal. But Tunisian President Kais Saied...
- It's clear that Tunisia needs additional assistance if it is going to avoid falling off the proverbial economic cliff, US Secretary of State said during a press conference
- Italian foreign minister voiced support for IMF package and said that Prime Minister Giorgia Meloni's government wanted to offer money as "the first step" toward reforms
Economy
Child labor on the rise for the first time in 20 years
He emphasizes the need to tackle the underlying causes of child labor by eradicating forced labor, ensuring safe and healthy...
- The root cause of child labor is identified as a systemic lack of social justice, not parental neglect, says ILO's Director-General Gilbert Houngbo
- One in every 10 children globally, amounting to 160 million children, are engaged in labor, often at the expense of their education, he adds
Economy
UAE and Russia hold talks to eliminate double taxation
Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and...
- The agreement is designed to provide protection to taxpayers from double taxation and remove bottlenecks on the path of trade and investment
- The UAE noted the importance of dialogue in fostering better bilateral relations with Russia, resulting in growth in trade, finance and investment
Economy
Dubai leads global FDI in cultural, creative industries in 2022
Dubai, UAE - Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and...
- The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries
- Asian nations, like India and Singapore, are finding their fastest-growing creative industry sectors to be enormous revitalisers of employment figures
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
Company News
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Beltone 9M net profit at $2.7m
Business
‘Major shifts are reshaping the Arab world’s future’
"Most of the global trends are positive if analyzed in terms of economic value. Countries have developed and lifted millions...
Economy
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
Business
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Economy
Oil prices jump, stocks slump after Iran blasts
"Heightened tensions in the Middle East following a bomb blast at a ceremony honouring a slain general in Iran have...
- Oil prices spiked more than three percent after twin bomb blasts ripped through a crowd commemorating Revolutionary Guards general Qasem Soleimani
- Equities were also under pressure as investors worried that the stocks rally in the final months of 2023, on hopes of interest rate cuts in 2024, may have gone too far
Economy
Jordan’s public debt rises to $46.1bn by Oct 2023 end: Ministry
Dubai, UAE -- Jordan's public debt till the end of October 2023 has risen to $46.1 billion, 89.6 percent of...
- The Ministry of Finance said the government had borrowed $3.8 billion in the first ten months of 2023.
- In Dec, Jordan approved the 2024 budget with a deficit of $1.6 billion, expecting the country's public debt this year would make up 88.3 percent of the GDP.
Economy
Turkey’s inflation rate nears 65 percent in December
Turkey's official annual inflation rate ticked up to 64.77 in December, from 61.98 percent in November. But the month-on-month pace...
- Economists expects inflation to start falling from near record highs within four months
- The rate reached a decades-long high of 85 percent in October of 2022