Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
Economy
Plastic pollution treaty talks in disarray as dozens of countries reject draft text
Geneva, Switzerland - Attempts to finalise a landmark treaty combating plastic pollution descended into disarray on the penultimate day on...
Economy
Business
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
- The maturity period is of five years at a profit rate of 8 percent annually.
- The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Economy
Turkish President Erdogan concludes economy-driven Gulf tour in UAE
The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage...
- The UAE and Turkey have signed numerous strategic agreements and MoUs to boost bilateral cooperation across various sectors
- In 2022, non-oil trade between the UAE and Turkey reached nearly US$19 billion, reflecting a substantial increase from previous years
Geostrategy
Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership
Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
- Erdogan and Sheikh Tamim also discussed important regional and international developments and witnessed the signing of a joint statement
- Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region
Economy
Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector
Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...
- The country's economic recovery plan aims to boost growth, attract investments and create job opportunities
- Its real estate, hotels, restaurants and trade all grew between 4.2 percent and 5.3 percent during the quarter
Economy
Iran looks to Arab states to propel its lackluster tourism sector
Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy....
- Visitors at ancient Iranian sites can be heard speaking Arabic, Chinese and Russian and not English, French or German
- With its ancient splendors like the cities of Shiraz, Isfahan and Mashhad, Iran has attracted visitors from far and wide
Economy
Dubai Chambers to host two-day event in November on global trade
Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year...
- The two-day event running under the theme of "Shifting Economic Power" Dubai and the future of global trade" will be held at Madinat Jumeirah
- The occasion will see leaders from sectors as diverse as technology, retail, finance, travel and hospitality, real estate, and healthcare
Business
ADNOC Gas signs deal with IOCL
It will export annually up to 1.2m metric tonnes of LNG.
- The 14-year agreement is valued in the range of $7 billion to $9 billion, signifying a major step in the partnership between the two industry players
- The deal marks another milestone for ADNOC Gas to expand its footprint around the globe, reinforcing the company's position as an LNG exporter
Economy
GCC becomes safe haven for expats amid uncertainty
While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security...
- While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security and optimism among expatriates
- As expats with 10 to 12 years of experience face challenges in their home countries, they are increasingly drawn back to the GCC, particularly Dubai, says an expert
Economy
Iraqis rally in heat against water, electricity crisis
Designated by the UN as one of the five countries in the world most touched by some effects of climate...
- United Nations has declared Iraq as one of the five countries in the world most touched by some effects of climate change
- "We have come to peacefully protest and demand water from the government and the source countries," Najeh Jawda Khalil told AFP
Business
Saudi Arabia’s exports to Turkey hit $13.93 billion in three years
Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
- Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones.
- A total of 1,140 companies Saudi companies have invested in several sectors in Turkey, with investments surpassing $18 billion.
Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
Economy
Company News
Latest News
Regulated dollar transactions on the rise in Iraq, says central bank
With dollars dominating the country's economy, Baghdad has imposed a series of restrictions on the use of American greenbacks domestically....
Economy
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
Most Read
Economy
Saudi Arabia and Bahrain sign road safety, maintenance agreement
Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...
- The agreement looks to boost expertise exchange and cooperation between Bahrain and Saudi Arabia, focusing on joint efforts in infrastructure development and road safety
- The Bahraini minister noted the strong relations between the two countries, emphasising the keenness to enhancing ties, particularly in infrastructure development
Economy
UAE’s overseas investments surpass $2.5trn mark
Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...
- United States remained the prime destination, attracting substantial investments in bonds and direct ventures
- Egypt closely follows with significant investments, along with the United Kingdom, India, and Morocco
Economy
IMF chief calls upon China to boost growth with pro-market reforms
BEIJING, CHINA – The head of the International Monetary Fund on Sunday called on China to implement "a comprehensive package of...
- Chinese policymakers have so far resisted calls to juice the economy through massive government stimulus.
- Authorities should boost "the spending power of individuals and families" by beefing up China's pension system, IMF said.