Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...
Iraq signs deal with US firm to produce 24,000 MW of electricity
Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...
Economy
Economy
Qatar-US trade exchange hits $9.46bn: Qatari official
Al Khater said that the total direct Qatari investments in the US amounted to about $69 billion, and that 856...
- Al Khater said that the total direct Qatari investments in the US amounted to about $69 billion, and that 856 US companies operate in the Qatari market
- He pointed out that the World Bank expected Qatari economy to grow by 3.4 percent in 2023, and highlighted the international rating agencies' positive outlook for the country
Economy
Syrian family adopts ‘miracle baby’ born under rubble in quake
Jindayris, Syria--Born an orphan under the rubble in north Syria after a devastating earthquake, Afraa al-Suwadi has been given a new...
- Suwadi's story has captivated a grieving nation and made international headlines as Syria's "miracle baby"
- Relatives had pulled her from the wreckage still tied to her deceased mother by the umbilical cord
Interview
GCC will be least hit by recession: WEF’s MENA head
In 2023, some Middle Eastern economies appear to be more resilient than most developed markets, Maroun Kairouz, Director for MENA...
- In 2023, some Middle Eastern economies appear to be more resilient than the most developed markets, Maroun Kairouz, Director for MENA at the World Economic Forum, tells TRENDS
- During the global crisis of 2007 and 2008, all western leaders knocked on the doors of GCC sovereign wealth funds because those are the pools of long-term capital, he adds
Business
RAKEZ supports F&B industry investors to set up, expand in UAE
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
- With an aim to promote the F&B industry, RAKEZ regularly participates in the annual Gulfood exhibitions.
- RAKEZ supports investors to gain a foothold in the local, regional and global markets through its business ecosystem.
Business
Dubai Chambers adds 56,000 new members during 2022
Dubai, UAE--Dubai Chambers' membership increased by 20 percent in 2022 to 347,600, adding 56,000 new members during the year. In...
- The Chambers said the exports and re-exports of its members grew by 20 percent in 2022, totaling AED272.7 billion.
- Dubai International Chamber opened four new international offices in 2022, growing its international network to 15 offices.
Economy
Saudi non-oil exports down by 24 percent to $6 billion in Dec 2022
Riyadh, Saudi Arabia-- Saudi Arabia's non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in...
- Overall merchandise exports increased by 1.1 percent in December 2022, SAR 108.2 billion, compared to SAR 107.0 billion in December 2021.
- This increase was mainly due to oil exports, which rose by SAR 8.5 billion or 11.1 percent in the same period,
Geostrategy
Sharjah, Costa Rica explore trade, food security
SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with...
- The Costa Rican delegation was briefed on Sharjah free zones and industrial zones.
- The Costa Rican minister said the meeting explored opportunities to strengthen trade between the two sides.
Geostrategy
FNC Speaker, Canadian Senate Speaker discuss strengthening parliamentary ties
ABU DHABI, UAE - Speaker of the UAE Federal National Council Saqr Ghobash received the visiting Speaker of the Senate...
- UAE and Canada discussed the development and activation of parliamentary diplomacy between the two countries.
- The meeting touched on the latest developments in the region and efforts aimed at confronting terrorism and extremism.
How does aid get into rebel-held northwest Syria?
More than four million people live in areas outside government control in Syria's north and northwest, 90 per cent of...
- The UN largely delivers relief to Syria's northwest via neighbouring Turkey through the Bab al-Hawa crossing
- On February 13, the United Nations said Damascus had allowed it to use Bab al-Salama and Al-Rai crossings for three months
Economy
Asian markets mixed, with rates set to go higher
With Wall Street closed Monday for Presidents' Day there were few catalysts for regional investors, with focus on the release...
- Some Fed officials have even suggested they were open to lifting rates by 50 basis points next month, twice as much as expected by markets
- That has dealt a blow to hopes the central bank would stop hiking soon and even begin cutting rates before the end of the year
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...
Company News
Nedaa, Dubai Customs ink MoU
Business
Latest News
‘Use AI to bridge global economic gaps, promote peace’
“To ensure AI makes ethical, inclusive, and prosperous decisions, we must educate ourselves on its workings. It’s crucial to manage...
Economy
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
Geostrategy
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
Business
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Economy
Russia won’t consider ratings while granting loans to countries
Previously, to be eligible for a loan from Moscow, a country could not be categorized in the sixth or lower...
- Additionally, loans were not extended to countries with long-term creditworthiness ratings below B- from Fitch or Standard & Poor’s, or below B3 from Moody’s.
- Under the new decree, Russia will no longer adhere to international institutions' recommendations when extending loans to other countries.
Business
Export Bahrain and HKTDC sign agreement to ramp up trade ties
Manama, Bahrain--Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties...
- The agreement between the two sides looks to foster mutually beneficial trade and economic cooperation
- As per the dea, both sides will facilitate access to a wide range of opportunities for enterprises in both countries
Business
Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...
- The launch of interconnection is expected to achieve automation and integration of procedures, with the aim of providing the best services to taxpayers
- The chairman of customs said that the e-connection between customs and tax services is part of Qatar's vision to leverage technology and provide advanced and effective services