Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
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
Business
Qatar’s Hamad International Airport passenger traffic soars 44.5% in Q1
Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current...
- Some 3.56 million passengers arrived at the airport in January, followed by 3.24 million in February, and 3.5 million passengers in March
- During the first quarter of the year, the airport handled more than 540,000 tons of cargo and transferred some 8 million bags
Economy
Uzbekistan calls for launch of ‘forum for businessmen’ in Doha or Tashkent
Doha, Qatar-- Uzbekistan has called for establishing a joint forum for businessmen in Doha or Tashkent to review investment opportunities...
- The minister highlighted opportunities for investment in the Central Asian state, saying large foreign companies have begun investing in various sectors
- He lay emphasis on building trade and investment alliances between Qatari and Uzbek companies that contribute to boosting of trade exchange between the two nations
Business
Aramco Q1 earnings take a hit
The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier.
- The result was lower than the $39.5 billion reported in the same period in 2022, when Russia's invasion of Ukraine caused oil prices to surge
- Aramco is the jewel of the Saudi economy and the main source of revenue for Crown Prince Mohammed bin Salman's Vision 2030
Economy
Saudi Arabia launching tourism projects worth $400m
Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations...
- The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella
- The announcement represents an important step toward achieving the objectives of the national tourism strategy by developing quality hospitality facilities
Business
Kuwait’s central bank issues US$1.05bn worth of bonds and tawarruq
Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued...
- Early this month, the bank issued bonds and tawarrruq worth US$ 660 million for three-months term
- It said the value of the first issuance amounted to $528 million for three months with a return rate of 4.250 percent
Business
Net profit of QSE listed companies dips by 10% in Q1
Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion...
- The industries sector saw the biggest decline of 44.18 percent, resulting in a net profit of $656.22 million
- The insurance sector recorded the highest growth with a 79 percent increase, generating a net profit of $102.94 million
Economy
Sharjah’s GDP grows 5.2% to $37bn in 2022
Sharjah, UAE - Sharjah's GDP has grown by 5.2 percen to AED 136.9 billion ($37.05 billion) compared to AED 130.1...
- The non-oil sector has reported a 5.2 percent increase, bringing the total to AED 133.4 billion (36.08 billion) in 2022
- 'Wholesale and retail trade; repair of motor vehicles and motorcycles' achieved the highest growth in the emirate's GDP
Business
Arab Federation for Digital Economy signs deal with Union of Arab Chambers
Abu Dhabi, UAE-- Designed to achieve a common Arab vision for the digital economy, the Arab Federation for Digital Economy...
- The agreement is designed to bolster the Arab digital economy, strengthen intra-Arab trade, and increase the reality of Arab trade exchange
- Rated as the fastest growing market in the world, the e-commerce market in the MENA region was valued at $49 billion at the end of 2022
Economy
Abu Dhabi GDP grew by 9.3 percent in 2022, says SCAD in estimates report
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report...
- Abu Dhabi's impressive growth across its diverse sectors during 2022 is attributed to its robust economic framework.
- As per the estimates, in Q4 2022, Abu Dhabi achieved real GDP growth of 5.9 percent worth US$75 billion.
Science
‘US needs $30bn to seal 14,000 unplugged offshore oil, gas wells’
The cost to secure thousands of inactive oil and gas wells in the US Gulf of Mexico could top $30...
- The authors of the study said both taxpayers and fossil fuel giants would likely be liable for the costs of plugging and abandoning the wells.
- The process includes encasing the opening in concrete to stop oil and the potent greenhouse gas methane from leaking out.
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
Company News
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Arab Bank posts net profit
Business
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
Oil prices up on Saudi, Russia push for output reduction
Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in...
Economy
Most Read
COP28 UAE
COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
- Al Suwaidi said that food systems are very exposed to the effects of climate change, and "COP28 is proud to be elevating them to the highest level of discussions"
- According to the COP28 director general, the global community has raised $2.5 billion to support the food-climate agenda during the World Climate Action Summit
COP28 UAE
‘Private sector plays key role in climate resilience’
Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick...
- Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick tells TRENDS.
- Optimistic about COP28's impact and the crucial Loss and Damage Fund, the minister underscores the need for a bottom-up approach and community involvement in climate action.
Digitization helps UAE make supply chain sustainable
"The UAE launched the 'Trade Tech Initiative' in partnership with the World Economic Forum. The initiative aims to accelerate the...
- Green trade as a key driver for a sustainable, resilient global economy.
- E-commerce growth in the UAE contributes to carbon emission reduction.