Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...
Economy
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
Economy
Germany’s Scholz arrives in India to expand business ties
New Delhi, India--German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world's number four...
- Scholz would press for progress towards a trade deal between the European Union and India that has long been held up by disagreements on tariffs
- Scholz, 64, also said the Group of 20 should not ease up on pressuring Russia during India's current presidency and continue to send a "strong message"
Economy
Turkey starts rebuilding for the 1.5 million earthquake homeless
More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes.
- More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes
- Turkish President Tayyip Erdogan who is facing election within months has pledged to rebuild homes within a year
Economy
UAE vows to counter money laundering and financing of terrorism
Welcoming the FATF statement recognizing the progress made in the Gulf country, the UAE has reaffirmed its commitment to advancing...
- The UAE said it continues to implement an array of sophisticated and significant actions to combat financial crime and strengthen the effectiveness of the AML/CFT framework
- The country reaffirmed that it will continue working concertedly to bolster its position as one of the most trusted and resilient economies worldwide
Economy
Barakah’s Unit 3 enhances UAE’s bid to cut emissions
"We utilise all forms of clean energy to cut carbon emissions and mitigate the worst impacts of climate change. The...
- The start of commercial operations for Unit 3 of the Barakah Nuclear Energy Plant marks another accomplishment in generating abundant clean electricity to the national grid
- The plant will also prevent millions of tons of carbon emissions annually, said Mariam bint Mohammed Almheiri, the UAE’s Minister of Climate Change and Environment
Economy
History says Fed can’t tame inflation without recession: report
Citing historical "disinflation" cases dating back to 1950 in major economies, the report concluded that central banks "are likely to...
- The report came after fresh US pricing data suggested the Fed's aggressive moves thus far have been only partially successful
- The Booth analysis suggested a potentially rocky future for the US economy, which has thus far shown resilience despite aggressive Fed actions to counter inflation
YEARBOOK 2023
GCC businesses plan expansion through new clients
Companies will emphasize less on diversification and disruptive offerings this year, predict chief executive officers in the Gulf region.
- Companies will emphasize less on diversification and disruptive offerings this year, predict chief executive officers in the Gulf region.
- More than two-thirds of CEOs in the UAE expect a “stable” or “positive” global economic outlook for the next three to five years
Business
Dubai Chamber of Commerce organizes UAE Corporate Tax Workshop
DUBAI, UAE - Dubai Chamber of Commerce organized a Corporate Tax Workshop to help participants navigate the new regime, with...
- The workshop, attended by 152 participants, included an overview and key highlights of the new corporate tax law.
- Corporate tax is a significant step in the UAE’s drive to modernize its tax system and accelerate economic diversification.
Geostrategy
Israeli government approves 2023-2024 budget
Israel's government approved the 2023-2024 budget against the backdrop of economic uncertainty linked to controversial judicial reforms advanced by the...
- Netanyahu's coalition government pushed on in parliament this week with its judicial reforms, which it says are designed to limit overreach.
- Parliament must still vote to adopt the fiscal measures.
Business
Expo Center Sharjah wraps up successful Paper One Show
SHARJAH, UAE - Expo Center Sharjah (ECS) wrapped up the eighth edition of Paper One Show on a high note....
- The exhibition managed to cement Sharjah's leading position as one of the key regional events specialized in the paper industry.
- There was an increase of 60 percent in the exhibition over the previous edition in the number of participating companies.
Geostrategy
UAE, Algerian ministers discuss enhancing bilateral cooperation
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian...
- UAE, Algerian ministers reviewed ways to advance cooperation in areas that contribute to sustainable economic growth.
- The two ministers discussed UAE's hosting of the 28th session of the Conference of the Parties (COP 28) this year.
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
Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...
Economy
Company News
New CEO appointed in SRC
Business
Latest News
Mawani, SGP ink US$266m pact
Business
‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...
Economy
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
Economy
Most Read
Economy
Lebanon economy to plunge into recession due to Gaza war
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...
- Lebanon's economy collapsed in late 2019, plunging most of the population into poverty, according to the United Nations.
- Real gross domestic product is expected to decline "to between minus 0.6 percent to minus 0.9 percent depending on the extent of the tourism shock," the World Bank said.
Geostrategy
Angola departure a blow for OPEC+ as cartel tensions rise
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum...
- Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output.
- Angola is far from the first small country to quit the cartel. Indonesia left in 2009, Qatar in 2019 and Ecuador in 2020.
Economy
UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...
- Expansionary fiscal policy is set to continue to support growth in the Gulf Cooperation Council (GCC) countries, the report said.
- GCC’s strong push to grow its tourism sector have made the region one of the world’s fastest-growing destinations.