Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
Economy
Business
FAO says world cereal production to reach record high in 2023-24
ROME, ITALY - World cereal production is predicted to hit a record high in 2023-24, according to the latest Cereal...
- FAO raised its 2023 global cereal production forecast to 2 819 million tonnes, indicating a 1.1 percent increase from the previous year.
- The higher forecast almost entirely reflects better prospects for global wheat production, now pegged at 783.3 million tonnes.
Economy
‘Greenhouse gas emissions from agriculture likely to rise by 7.5% in next decade’
PARIS, FRANCE - Greenhouse gas emissions from agriculture are expected to increase by 7.5 percent in the next decade, said...
- Projected greenhouse gas emissions are less than half the projected output growth.
- This output indicates a significant fall in the carbon intensity of agricultural production.
Economy
At G20 meeting, UAE urges world to collaborate in scientific research
Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community...
- Al Amiri made the remark during her address to ministers at the G20 Research and Innovation Initiative Gathering (RIIG) in Mumbai
- She said that the UAE will invest some $160 billion in the next 30 years to further develop and deploy green innovations
Business
Iran emerging as a hub for health tourism in West Asia: Raisi
Tehran, Iran--Iranian President Ebrahim Raisi has claimed that health tourism in the country has attracted patients from neighboring countries and...
- The Iranian president claimed that patients from Central Asia and Middle East have chosen Iran over Europe to come for medical treatment
- In May, Iranian health minister said that last year more than 1.2 million foreign patients had been to hospitals in the Islamic Republic for various treatments
Economy
DEWA exhorts customers to adhere to its safety standards
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has exhorted community members to ensure that safety standards are always in place...
- To improve the efficiency of electricity and water consumption in the emirate, DEWA has ruged customers to follow its tips and guidelines
- Customers should switch off lights, use a timer for any floodlights in gardens and fences and shut off the water supply, recommends DEWA
Economy
Office segment demand drives Saudi Arabia’s real estate boom
"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani,...
- Prime rents in Riyadh have risen by 19 percent in the last year, while in Jeddah, they have risen by about 9 percent
- The main demand centers for office space in the kingdom are Riyadh and Jeddah, and Dammam Metropolitan Area
Economy
Abu Dhabi frames new grazing regulations to protect rangelands
Abu Dhabi, UAE-- In order to protect natural rangelands and promote sustainable traditional grazing practices, the Environment Agency – Abu...
- The introduction of the new policy by the agency will ensure the recovery of vegetation cover and promote the sustainability of biodiversity
- The new regulation mandates that licensees should stay away at least 2km from protected areas, forests, residential, military and private areas
Economy
Russia to cut oil output by another 500,000 bpd
Moscow, Russia - Russia on Friday confirmed the reduction of oil supplies to markets by 500,000 barrels daily in August...
- Earlier, Deputy Prime Minister Alexander Novak told reporters that Russia will slash oil supplies to markets in August through the reduction of exports
- Saudi Arabia and Russia have recently announced their decision to extend cuts to oil production in an effort to bolster global oil prices
Business
Saudia raises seat capacity by 10%
The number of domestic, international flights will rise.
- This would be a 10 percent increase in the number of seats on a year-on-year (YoY) basis, the airlines said in a statement.
- Saudi Arabian Airlines said that more than 4.2 million seats would be added to international flights.
Economy
Global food prices fall to lowest level in two years in June
Dubai, UAE -- The World Price Index of the Food and Agriculture Organization of the United Nations (FAO) fell last...
- The World Price Index drop was driven by the lower cost of sugar, vegetable oils, cereals and dairy products.
- The FAO Cereal Price Index fell 2.1 percent in June compared to the previous month, with prices of corn, barley, sorghum, wheat and rice declining.
Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Company News
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UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
Economy
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
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Geostrategy
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
- The Council reviewed updates of the demand side management strategy for 2030 and 2050.
- This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
- This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
- This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.
Economy
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...
- UAE minister Sheikh Nahyan bin Mubarak Al Nahyan highlights economic prosperity and global integration in Dubai.
- Attended by more than 600 economic leaders, the event serves as a platform for investment and trade enhancement.