Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...
Economy
Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
Business
Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
- DIB ‘alt’ is a full-service transformative digital banking experience that is set to enhance the banking experience for DIB’s customers.
- The platform brings together more than 135 digital services via the DIB Mobile App, Online Banking, WhatsApp, and ATMs.
Geostrategy
Protesters in Morocco demand government act on cost of living
CASABLANCA, MOROCCO - Hundreds demonstrated on Sunday in Morocco's economic capital Casablanca to protest against the surging cost of living in...
- Morocco has seen months of rising prices, particularly of food, fuel and other basic staples, in part due to recurrent drought.
- Year-on-year inflation slowed in April to 7.8 percent, after 10.1 percent in February and 8.2 percent in March, according to official figures.
Geostrategy
Sharjah Chamber concludes successful 5-day trade mission to India
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after...
- The trade mission visited New Delhi and Mumbai to discuss potential investment opportunities.
- The business gatherings has served as an effective platform to discuss potential investment advantages.
Business
Workshops on suspicious transactions in gold, precious stone sector in UAE
ABU DHABI, UAE - UAE Ministry of Economy organized two workshops, in Arabic and English, to promote the awareness of...
- The workshops made the traders and business owners aware of the necessity of reporting suspicious transactions to the Financial Intelligence Unit.
- This will contribute to enhance the competitiveness of the gold sector and its development in line with international best practices.
Geostrategy
Kuwait to hold seventh election in 10 years amid political paralysis
The oil-rich country suffers from constant stand-offs between elected lawmakers and cabinets installed by the reigning Al-Sabah family. The opposition...
- Fearing that widespread scepticism will discourage many people from voting, the authorities have festooned the capital with posters in an attempt to encourage a better turnout
- The latest general election was called by the emir last month after he again dissolved parliament amid a persistent deadlock with the executive branch that has stalled reforms
Economy
War casts shadow on Sudan breadbasket, fuelling famine fears
"Transportation disruptions, market devastation and the absence of financing... will have catastrophic impacts on the food security of the people...
- The state's large, mechanised farms are not taking on workers, as a cash crunch hits their finances, jeopardising a harvest that normally meets 40 percent of Sudan's grain needs
- With roads cut off by crossfire, trade at a standstill and processing factories razed or looted, agribusinesses face an uphill battle, prompting some heavyweight investors to walk
Business
QatarEnergy signs production sharing contract for Agua-Marinha block in Brazil
Doha, Qatar--QatarEnergy, and its joint-venture partners TotalEnergies, Petrobras, and PETRONAS Petroleo Brasil Ltda. (PPBL) has signed the production sharing contract...
- According to a statement, QatarEnergy will hold a 20% working interest, alongside TotalEnergies (30%) Petrobras (operator, 30%), and PPBL (20%)
- The President and CEO of QatarEnergy Saad Sherida Al Kaabi said the signing builds on QatarEnergy's sizable upstream presence in Brazil
Economy
Qatar Chamber explores business opportunities with Turkey’s businessmen
Doha, Qatar-- Qatar Chamber and Turkish officials from the Trabzon Chamber of Commerce and Industry (TCCI) and the Manisa Chamber...
- The discussion between the two touched upon cooperation between chambers in Qatar and Turkey, the investment climate and the opportunities in both countries
- Qatar Chamber emphasized Qatari investors' desire to get acquainted with the investment opportunities available in Turkey in various sectors
Economy
OPEC+ looks to slash production to rein in weak prices
The UAE energy minister Suhail Mohamed Al Mazrouei said he expected the outcome of meeting to "balance the market and...
- The 13-member OPEC is due to consult with 10 other oil-producing nations, including Russia, to review the grouping's future output policy
- An output cut of 700,000 bpd to one million bpd was one of the options being discussed, a source told AFP, stressing that nothing was set in stone
Economy
Global Research Council re-elects Saudi Arabia as MENA region chair
Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council...
- Dr. Munir Eldesouki's re-election to represent Saudi Arabia at the GRC reaffirms the kingdom's prominent position in the scientific and research fields
- Saudi Arabia has played a key role in the GRC's work since its founding in 2012, including boosting cooperation between research funding institutions
Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...
Economy
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UAE’s hiring landscape sees rise in homegrown talent
"The challenge today is not just in assimilating this fresh talent but in bridging the gap between them and the...
Economy
GCC forges ahead in sustainable tech initiatives
In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
Business
Dubai real estate sales near record $109bn in 2023
Dubai, UAE -Â Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...
Economy
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Economy
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...
- According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
- The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Economy
Morocco doles out aid to low-income families
The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social...
- Beneficiaries will receive a direct monthly payment starting at 500 dirhams ($50)
- The aid to families was expected to cost Morocco $2.52 billion through 2024
Economy
Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...
- MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.
- The BMW Group's innovative electric and hydrogen vehicles, showcased at COP28, underscore a pivotal shift in the GCC and MENA regions towards a greener, cleaner future.