Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
Economy
Geostrategy
Jordanian-American committee discusses trade, food security
AMMAN, JORDAN -Â The ninth session of the Joint Jordanian-American Committee, which was held in the United States, discussed cooperation...
- The Jordanian delegation urged US investors to enhance investment in the Kingdom.
- The delegation thanked US for its continuous support to Jordan in several sectors.
Geostrategy
Iraqi PM, Lebanese minister discuss economic cooperation
BAGHDAD, IRAQ - Iraq Prime Minister Muhammad Shia'a Al-Sudani said that the country is continuing regional economic communication.A statement issued...
- Iraq Prime Minister said that the country is continuing regional economic communication.
- Iraq supports stability and economic growth for itself and other friendly nations
Geostrategy
Japan, South Korea eye detente as North Korea threat looms
Japan's Prime Minister Fumio Kishida said his "heart aches" for Koreans who suffered under colonialism, as Seoul and Tokyo seek...
- Tokyo and Seoul have long been at odds over historic issues linked to Japan's brutal 1910 to 1945 colonial occupation of the Korean peninsula.
- Bilateral ties were torpedoed in 2018, when South Korea's Supreme Court ordered Japanese firms to compensate the wartime victims of forced labor.
Business
Alba posts Q1 profit drop
The aluminium giant's profit fell 68% to US$126.2mn.
- The company's total equity at the end of March 2023 stood at $4.62 billion, a 5 percent drop to $4.84 billion as of December 31, 2022
- Demand for aluminium fell across the Middle East by 6 percent with Bahrain's consumption falling by 9 percent, and UAE's by 6 percent
Economy
Lebanon’s music conservatory falls silent amid economic woes
As the economic crisis grinds on, some teachers have quit and many have turned to online classes or teach private...
- A group of teachers and students have been holding independent concerts to highlight their plight and give musicians a chance to support each other and perform
- Some teachers have moved house or "sold their cars" to survive, added Ghanem, herself a conservatory student during Lebanon's 1975-1990 civil war
Economy
Thousands flee homes in western Canada as wildfires spread
Fanned by strong winds wildfires flared across Alberta in the Canadian province, forcing 25,000 people to flee their homes as...
- Canada in recent past has been affected by extreme weather, the frequency of which has soared owing to global warming
- The declaration of the state of emergency gives the local government more powers to deal with extreme situations and unlock emergency funds
Economy
Iran reports 32% increase in wheat output in April and May
Tehran, Iran--Iran has reported a large increase in its purchases of domestically-grown wheat in the months of April and May.Saeid...
- The country's southwestern province of Khuzestan accounted for 623,000 mt of wheat supply delivered to GTC silos during the months of April and May
- The Islamic Republic purchases a big chunk of wheat from growers in the country under a program that offers them favorable prices and transportation
Business
Jordan-Iraq business forum to begin in June, seek deeper trade ties
Amman, Jordan-- Seeking to widen its economic and trade ties with Jordan, the Iraqi Business Council (IBC) will organize the...
- The forum will focus on sectors such as energy, mining, construction, IT, real estate development, finance, telecom, and industry
- Both countries seek to promote investment in several fields, establish joint partnerships, and enhance trade and investment exchange
Economy
Amman Chamber exports rises to US$565m in January- March 2023
AMMAN, JORDAN Â -Â The Amman Chamber of Commerce (ACC)'s export of goods and commodities to Arab and other countries increased...
- Jordanian exports to Iraq was of US$217 million, to Switzerland at about US$103 million in January- March 2023.
- Jordanian exports to the UAE was about US$59 million, Egypt at US$42 million in January- March 2023.
Business
Saudi Arabia and Switzerland look to boost ties in industrial, mining sectors
Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial...
- They discussed boosting of ties in industry and mining sectors and how they can contribute to diversifying the economic base
- The two countries continue to have strong ties in petrochemicals, construction materials, medicines, consumer products, manufacturing of precious metals, and jewelry
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
Company News
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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...
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...
Business
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...
Economy
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Economy
Underinvestment haunts youth-led climate solutions
“Our appeal is that children and youth are integral to any discussion, debate, negotiation in a meaningful, participatory, and intentional...
- Less than 1% of global fund investments go into youth-led climate solutions, says Carla Haddad Mardini of UNICEF.
- Only 2.4% of climate finance aids children, she says, adding that COP28 sets groundwork for future climate actions.
COP28 UAE
ENEC signs MoU with Egypt
They will explore to advance the use of nuclear energy.
- The UAE's nuclear body is focused on strategic investments, research and development, and innovative approaches to cater to the need for clean energy sources
- It is cooperating with local stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities
Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
- A ministerial committee led by Saudi foreign minister holds discussions with US Secretary of State.
- The committee asked the US to influence Israel and called for an immediate ceasefire in Gaza.