GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
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
Geostrategy
ADFD finances US$30m sustainable water project in Mauritania
ABU DHABI, UAE -Â Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Mauritania to...
- The total value of the project, financed by several Arab and international financing institutions, is US$320 million.
- The main objective of the project is to provide potable water to around 92 cities and villages in Mauritania.
Economy
UAE Federal Treasury Sukuk Program appoints ADIB as primary dealer
ABU DHABI, Â UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary...
- This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF).
- The program aims to issue Sukuk through Shariah-compliant structures as approved by the Higher Shari’ah Authority.
Science
Natural capital, conservation should be priority for private sector in region
DUBAI, UAE - The private sector and financial institutions in the Middle East should enhance reporting by including information about how...
- The report indicates that almost half of the Middle East's GDP is either highly or moderately dependent on the environment.
- Middle East faces a number of environmental challenges specific to the region, including scarce water resources and desertification.
Economy
Iran’s annual trade with BRICS rises by 14% to $38.4bn
Tehran, Iran – Iran’s trade with BRICS member states reached 47.99 million tons worth $38.43 billion in fiscal 2022-23.In fiscal...
- In fiscal 2022–23, Iran's trade with the BRICS nations—Brazil, Russia, India, China, and South Africa—amounted to 47.99 million tonnes worth $38.43 billion
- China was Iran’s main trade partner among BRICS members with 35.55 million tons (up 8.71 percent) worth $30.32 billion (up 37.41 percent) of exchanges
Economy
Jordan’s food companies to show off products at Canada fair
Amman, Jordan-- With an eye on boosting its exports to North America, a range of companies from Jordan will showcase...
- Jordan Exporters Association in a statement said that the kingdom's enterprises will network with customers from Canada and other countries at the fair
- JEA President Ahmed Khodari said industrial exports play a vital role in advancing the country's economy by boosting output and growing existing investments
Economy
Iran’s exports touch US$50bn, break record: Raisi
Tehran, Iran--The 13th government has been able to export goods worth more than $50 billion since taking office, breaking the...
- The president speaking at the fifth Export Potential Exhibition of the Islamic Republic of Iran applauded the country's achievements in medical and health sectors
- He said that in spite of obstructions created by "enemies" to hinder Iran's military, nuclear, and scientific goals, it had succeeded in building defense and nuclear industries
Economy
Saudi Arabia looks to widen trade and investment ties with Italy
Riyadh, Saudi Arabia--Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade...
- The Saudi delegation held meetings with Italian officials and government and private agencies to discuss ways to boost the volume of trade and investment
- The visiting investors took part in the Saudi-Italian Business Forum in Milan, attended by 300 business owners and representatives of government agencies
Business
QGIRCO reports Q1 profit drop
The insurance firm's net profit fell to US$12.36 million.
- Its earning per share amounted to QR 0.051 as of March 31, 2023 as against QR 0.068 for the same period in 2022
- The insurance company also reported a profit drop in the third quarter of 2022, compared to the same period in 2021
Economy
Iraq, Iran sign MoU to build railway track linking two nations
The railway track will connect Iran's southwestern town of Shalamcheh with Basra in Iraq in what will be the first...
- The laying of railway line has been long in the making, with two MoUs having been signed in 2011 and 2013, but the project was halted due to legal and economic problems
- Considered to be a strategic event in the region, the new MoU came about after the current governments of the two countries evinced a renewed interest in the project
Economy
Businesses help strengthen UAE-Iran economic ties
"The economic cooperation in these sectors has contributed to increasing joint trade and investment exchange," he said while attending the...
- The UAE-Iran economic relations have experienced significant development and continued growth in various fields, says Abdullah Mohammed Al Mazrouei, a key UAE official
- The economic cooperation has contributed to increasing joint trade and investment exchange, adds the Chairman of the Federation of UAE Chambers of Commerce and Industry
GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
Company News
Arab Bank posts net profit
Business
Latest News
Doha Forum debates advantages in Gulf-Europe green ties
Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to...
Economy
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...
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...
COP28 UAE
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Business
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia:Â NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
- Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
- Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.
Economy
Faster hydrogen production needed for energy transition: WTO
Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
- IRENA believes that hydrogen and its derivatives would meet 14% of global final energy consumption in 2050
- Hydrogen generated from renewable power is recognised as a key pillar in replacing fossil fuels and decarbonising sectors
COP28 UAE
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
- ACSAD has offered at COP28 several solutions to the problem presented by climate change, including challenges like dealing with water scarcity and food security
- Dr. Homsi said that Arab summits had given ACSAD the task to implement a number of projects, such as the production of wheat varieties resistant to drought, high temperatures