Trade war worsens foreign investment outlook: UNCTAD World Investment Report
Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
Economy
Trump says EU not offering ‘fair deal’ on trade
US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as...
Economy
Business
TRENDS Poll: 36% believe GCC banks threatened by US, Europe banking crisis
Due to the GCC's strong linkages with the global banking system, concerns have risen that the banks in the region...
- The poll question asked:Â Are GCC banks under threat from the banking crisis in the United States and Western Europe?
- Due to the GCC's strong linkages with the global banking system, concerns have risen if the banks in the region will face the same struggles
Economy
FAB hosts Chinese businessmen for summit on boosting trade
Abu Dhabi, UAE-- Seeking to deepen the UAE's economic and trade relationship with China, First Abu Dhabi Bank hosted more...
- With investment and trade touching US$330 billion during the last ten years, China has emerged as the Middle East's largest trading partner
- Last year, the bank became the first financial institution from the UAE to open a branch in Shanghai thus pushing trade and investment flows across the region
Business
UAE looks to strengthen economic ties with Central Asian states
Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities....
- Dr. Thani bin Ahmed Al Zeyoudi said that the UAE was always exploring new markets, and the KazanForum provided a platform to meet with representatives of Central Asian nations
- He held bilateral talks with several government ministers and officials, focusing on the current economic landscape, areas of mutual interest and opportunities for investment
Economy
Qatar’s real GDP to grow at 2-2.5 percent in 2023-24: IMF
Dubai, UAE -- The International Monetary Fund expects Qatar's real GDP to grow by 2-2.5 percent in 2023-24 on robust...
- Medium-term growth is likely to rise to around 4–4.5 percent after the North Field expansion starts boosting LNG production.
- It said that after very strong growth in 2022 boosted by the World Cup, the economy is expected to normalize in the near term while the outlook remains relatively favorable.
Geostrategy
Ajman Chamber, Belgium Embassy discuss trade opportunities
AJMAN, UAE - Chairman of the Ajman Chamber of Commerce and Industry (ACCI) Abdullah Al Muwaiji discussed trade and investment...
- The meeting aimed to strengthen economic ties and promote Ajman as an attractive investment destination.
- The discussions focused on bilateral economic, trade investment relations, tourism, industry, trade, education, health.
Economy
Digital literacy to boost UAE’s tech, AI revolution
The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative...
- The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative framework, says UAE Minister of State for AI
- The UAE’s approach is multi-pronged, concentrating on skill development, nurturing digital competencies, encouraging innovation and cultivating entrepreneurship, he adds
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
- The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
- They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
Geostrategy
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...
- Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
- The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Business
IFZA, Zoho ink deal to enhance digital use in tax returns
DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with...
- Zoho One is a cloud-based platform that enables businesses to perform all their functions on a single interface, accessible from anywhere.
- It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation of the Corporate Tax.
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Trade war worsens foreign investment outlook: UNCTAD World Investment Report
Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
Economy
Company News
Oil prices rise following Red Sea attacks
Market Report
Latest News
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
Geostrategy
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
Tunisia gets new central bank chief amid economic crisis
TUNIS, TUNISIA - President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African...
Geostrategy
Most Read
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Economy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
- The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
- This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion
Economy
GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...
- The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation factors.
- The PPI enhances output by identifying and improving weak areas, addressing 21st-century challenges like climate change, biodiversity loss, and social change.