European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
Geostrategy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
Economy
Saudi Arabia expands economic diversification plan
The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the electronic games...
- The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the e-game sector
- Saudi Arabia, which is seeking alternatives to crude oil revenues, is planning to invest US$37.8 billion in electronic gaming initiatives and programs through PIF
Geostrategy
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...
- The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
- She also discussed ways and means to strengthen the education system and vocational schools.
Business
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...
- Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
- He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
Geostrategy
Former US President Donald Trump claims his arrest is imminent
Donald Trump called on his supporters to "protest, take our nation back", as he expects to be arrested over an...
- A conviction in the hush money case would not prevent Trump from running, but an indictment can have major consequences
- Denouncing Trump's announcement as "reckless, Nancy Pelosi said it would foment unrest among his supporters
Geostrategy
Ukraine grain deal extended, says Turkey’s President
Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but...
- Turkey and the United Nations did not specify the duration of the grain deal.
- A deal brokered by Turkey and the United Nations in July 2022 - and signed by Kyiv and Moscow - had allowed for the safe passage og grain supplies.
Geostrategy
Reform of multilateral financial institutions must for climate action, says Dr Al Jaber
PARIS, FRANCE - COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the...
- The UAE minister stressed on the need to deploy all necessary resources to transform the global energy systems.
- Dr. Al Jaber emphasized the need for ambitious reforms across international financial institutions and multilateral development banks.
Geostrategy
Jordan Chamber of Commerce, Hungarian envoy discuss economic ties
AMMAN, JORDAN - Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan...
- The joint Jordanian-Hungarian committee aims to present investment opportunities in the two countries.
- In 2022, Jordan's exports to Hungary was worth US$1.15 million and imports were US$34 million, as per official data.
Geostrategy
India looks to broaden partnership with GCC countries
New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to...
- According to India's External Affairs ministry, the two countries reviewed bilateral ties in different domains and identified new areas of cooperation
- Oman is taking part in G20 as a special invitee with India inviting nine countries under the category
Economy
S&P, Moody’s revise Saudi Arabia’s outlook to ‘positive’
Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising...
- The agency highlighted the kingdom's strong real GDP growth of 8.7 percent in 2022, the highest among the G-20 economies
- It forecasts the non-oil sector to remain strong through 2026 due to service sector growth supported by the ongoing social reforms
Economy
UAE consumer spending vaults 19% in 2022: Majid Al Futtaim
Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according...
- The country recorded its strongest annual GDP growth since 2006, jumping to 7.9 percent, from 3.9 percent in 2021
- Non-oil economy posted strong growth at 6.6 percent, lifted by government initiatives to lure investments and boost its tourism sector
Most Read
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
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
Geostrategy
Company News
Latest News
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...
Economy
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...
Economy
Eurozone inflation rises to 2.9% in Dec mainly due to energy costs
The data supports comments by European Central Bank (ECB) chief Christine Lagarde, who has warned that Europe should remain on...
Economy
Most Read
Economy
Saudi insurance sector targets 25m beneficiaries by 2030
Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of...
- The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents
- Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end
Economy
‘Major shifts are reshaping the Arab world’s future’
"Most of the global trends are positive if analyzed in terms of economic value. Countries have developed and lifted millions...
- Al Gergawi emphasizes the pivotal role of Gulf countries in shaping global agendas, from environmental discussions at COP28 to major events like the World Cup.
- He underlines the criticality of understanding the new global changes, including tech advancements, and the balance between positive global trends and challenges.
Business
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.
- Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
- This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.