Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
Economy
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
Business
Business
Dubai Transport Authority’s digital channels record 10% jump in 2022 revenues
Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953...
- RTA reported 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate, in addition to a 30 percent jump in the number of registered users
- Mattar Al Tayer, Director-General of RTA, said that the company was going ahead with its digitization projects in order to increase its global competitiveness
Business
EU, New Zealand ink deal to enhance trade by 30 percent in a decade
The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two...
- New Zealand Prime Minister Chris Hipkins said it "will generate substantive new economic opportunities. It's of huge benefit to both partners."
- "New Zealand is a key partner for us in the Indo-Pacific region, and this free trade agreement will bring us even closer together," the EU chief said from Brussels.
Geostrategy
Pro-Iran parties urge Iraq to clear energy dues with Tehran
BAGHDAD, IRAQ - A powerful alliance of pro-Iran factions in Iraq called on Sunday on Baghdad to pressure the United States...
- Iraq, ravaged by decades of conflict and international sanctions, relies on gas imported from its eastern neighbor for a third of its energy needs.
- To reduce their dependence on Iranian gas, Iraq has been exploring several possibilities including imports from Gulf countries like Qatar.
Business
Dubai to expand EV charging points by 170 percent till 2025
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) aims to grow the city’s network of public charging stations by 170...
- Dubai Electricity and Water Authority aims to grow the city’s network of public charging stations by 170 percent in less than three years.
- The emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100 percent of its power from clean energy sources by 2050.
Business
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE - Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
- These figures mark a 57 percent increase compared to the end of 2022 figures, where 50,228 UAE nationals were employed in the private sector.
- Nearly 17,000 private sector firms employ UAE citizens as of July 7, which was the last day for companies to achieve their semi-annual Emiratisation targets.
Business
Dubai’s RTA digital channels generate revenue of US$953m in 2022
DUBAI, UAE - Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority Mattar Al...
- RTA launched a feature that allows users to instantly access their vehicle registration cards for virtual displays upon request.
- In 2022 RTA recorded 814 million digital transactions up from 676 million in 2021, reflecting a robust growth rate of 20 percent.
Geostrategy
Saudi Arabia should ‘review’ emissions targets: French minister
France's energy transition minister Agnes Pannier-Runacher left the world's biggest oil exporter early Sunday morning after meeting with her Saudi counterpart....
- Saudi Arabia pledged in 2021 to achieve net zero carbon emissions by 2060. Pannier-Runacher's trip came as the UAE prepares to host the COP28 climate summit.
- Largely state-owned energy firm Saudi Aramco, the kingdom's main revenue generator, is targeting "operational net-zero" carbon emissions by 2050.
Economy
UK to unveil new measures to support financial sector
Hunt, whose official title is chancellor of the exchequer, will lay out plans for an "entirely new kind of stock...
- Hunt will set out "how Britain's financial services will support the drive for long-term sustainable growth across the country", the UK Treasury said
- The new measures will in particular seek to make the UK stock market more attractive to firms looking to take their businesses public
Economy
Global trade in commodities to expand by 1.3% annually: FAO-OECD report
Paris, France--Global trade in agricultural commodities is projected to expand by 1.3 percent annually - half the pace recorded in...
- The FAO and OECD report said maize, wheat and soybeans contributed the most to the overall agricultural trade growth in the past decade
- South and Southeast Asia’s net imports, after becoming a net importer of agricultural commodities in recent years, are projected to rise further
Business
Jordan’s beekeepers make a fortune as demand for honey soars
The kingdom of Jordan prides itself on its 19 different types of honey, including citrus, eucalyptus and maple varieties, depending...
- Jordan's 4,000 apiarists have ramped up output of the sweet and sticky golden substance long praised for its anti-inflammatory and other health benefits
- Even if there is no scientific consensus that honey helps fight Covid, many of those infected have used it to soothe symptoms such as sore throats
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Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
Economy
Company News
Latest News
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
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Business
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
- The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
- The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.
Economy
US consumer inflation in Feb up as Federal Reserve mulls rate cut
The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...
- The annual consumer price index (CPI) came in at 3.2 percent last month, while the "core" measure stripping out volatile food and energy prices edged down slightly to 3.8 percent.
- "The index for shelter rose in February, as did the index for gasoline," the department said, both contributed more than 60% of the monthly increase for the overall index.
Economy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
- The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
- He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran