Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
Economy
Trump’s next 100 days: Now comes the hard part
In a dizzying first three months, Trump wielded executive power like no other modern president, signing more than 140 orders...
Economy
Geostrategy
Saudi Arabia and Iran discuss ‘opportunities to develop and strengthen’ ties
Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a...
- The Iranian minister described the expansion of the Saudi-Iranian relations as a "win-win" development
- The two ministers met in Jeddah on the sidelines of the Islamic Development Bank Group's conference
Business
RAK Ceramics’ profit soars in Q1
The profit rose to US$22mn on the back of higher revenue.
- The company's revenue soared to $240 million, a jump of 12.7 percent, and EBITDA went up to $43 million, an increase of 21 percent
- It is looking to make additions to its capacity for tiles, sanitaryware and tableware division in the United Arab Emirates
G7 launching partnership scheme to diversify supply chains
Niigata, Japan - The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group...
- The ministers did not directly mention efforts to reduce reliance on trade with China or Russia as motivation for the new framework
- In a joint statement, they said they hoped to launch the partnership in collaboration with the World Bank "by the end of this year at the latest."
Business
DP World’s JAFZA looks to boost UAE-India trade to US$100bn
Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza...
- Trade between the UAE and India has shot up to $84 billion in 2022, from $68 billion the year before, recording a 23 percent jump
- Indian companies are the second largest partners in the free zone in terms of trade volume and fourth in terms of trade value
Business
ADNOC Distribution’s profit up
Its profit vaulted to US$150 million in Q1 of 2023
- The company said the profit resulted from strong performance and improvement in efficiency measures across all operations
- It acquired a 50 percent stake in TotalEnergies Marketing in Egypt, and plans to open the first service station in Cairo in Q2
Economy
Luxury tourism in Gulf countries set to reach $11bn this year
GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions...
- Strategic location, modern attractions and eco-friendly initiatives are driving tourism growth in the region, which is actively developing infrastructure to propel the sector.
- UAE leads global rankings in travel importance and luxury travel preferences, while Saudi Arabia's tourism sees tremendous growth with diverse attractions and ongoing projects
Business
Dubai Chambers briefs EU Missions about UAE Corporate Tax Law
DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with...
- A workshop on Corporate Tax Law saw the participation of 13 officials from EU embassies and attaché offices in the UAE.
- Dubai Chambers said the workshop will bolster the strong trade and business relations with the European markets.
Geostrategy
Iraq awaits Turkey’s response to resume Kurdish oil exports
The Kurdish regional government had for years earned billions of dollars in revenues exporting crude oil to Turkey without the...
- Iraq's Oil Minister Hayan Abdel Ghani had on Thursday said that crude exports from the Kurdish region through the Turkish port of Ceyhan would resume Saturday.
- But on Friday the Kurdish natural resources minister, Kamal Mohamed, told a Kurdish television channel that the resumption of exports was still awaiting approval from Ankara.
Economy
UAE tops the world in 5 labor market competitiveness indices
DUBAI, UAE - The UAE has topped several global labor market indices issued by international entities and institutions in a...
- These indices include lack of labor disputes, low cost of severance compensation for workers, and working hours.
- The UAE also stood out for the low cost of severance compensation in the Global Innovation Index 2022.
Business
Europe charges up car battery drive with new plants in Germany, France
The continent has been racing to produce more electric vehicles as part of its green transition, with the clock ticking...
- Sweden's Northvolt will build a multi-billion-euro plant in northern Germany, which will supply around one million electric vehicles with batteries a year.
- In France meanwhile, Taiwanese battery maker ProLogium announced it will invest 5.2 billion euros ($5.7 billion) in building a new factory in Dunkirk.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
Economy
Company News
ENEC signs MoU with Egypt
COP28 UAE
Latest News
Ex-Amazon economist to head Turkey’s central bank
Erkan resigned just a week after completing a historic series of interest rate hikes that have pushed the baseline rate...
Economy
IMF upgrades Saudi Arabia’s 2025 economic growth prediction to 5.5%
Riyadh, Saudi Arabia - The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia's economy, revealing a...
Economy
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
Business
Most Read
Economy
Saudi Arabia launches program to boost exports
Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on...
- General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched workshops called "Through the Attachés"
- The Foreign Trade Authority, with a focus on boosting exports, and safeguarding trade interests, plays a critical role in developing the national economy
Interview
WEF24: Corruption puts institutions, growth at risk
Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency...
- Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency International tells TRENDS.
- Corruption, a global economic issue, involves cross-border reinvestment of stolen funds, necessitating stronger, independent judicial systems to enforce anti-graft laws, he adds.
Economy
UAE healthcare spending set to reach $30.6bn by 2027
The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a...
- The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a white paper.
- Precision medicine has been identified as a key departure from traditional healthcare approaches, focusing on patient-centered care, the report highlights.