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
Nations divided ahead of decisive week for shipping emissions
London, United Kingdom --Â Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...
Geostrategy
Business
International dental conference kicks off in Dubai
Dubai, UAE-- The three-day long dental conference has got underway in Dubai, bringing together leading experts in dentistry and oral...
- Some 66,000 participants from 155 countries are expected to attend AEEDC Dubai 2023
- More than 130 Korean companies are participating in the event, occupying 3,000 sqm of exhibit space
Economy
Dubai’s VARA brings out ‘specialized regulations’ for virtual assets
Dubia, UAE--Dubai’s Virtual Asset Regulatory Authority (VARA), has issued what it calls as Virtual Assets and Related Activities Regulations 2023....
- The VA Framework is structurally designed to offer regulatory certainty – allowing the market to have greater clarity on the expected level of operator responsibility
- The custom-designed construct reflects UAE’s commitment to building responsible safeguards, and Dubai’s confidence in delivering a progressive VA ecosystem
Economy
Integrate Middle East 2023 launches in Dubai on May 16
The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre...
- The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre from May 16 to 18
- Visitors will be able to explore products and services from the entire pro AV technology provider universe, ranging from world-class command and control centres
Economy
UAE, Saudi Arabia pledge quake relief to Syria, Turkey
Saudi Arabia on Tuesday ordered the King Salman Humanitarian Aid and Relief Centre "to provide health, shelter, food and logistical...
- The oil-rich UAE - which had already pledged some $13.6 million to Syria - is spearheading regional relief efforts, having dispatched planes to both countries with relief items
- Fellow Gulf country Saudi Arabia, which severed diplomatic ties with Syrian President Bashar al-Assad's regime in 2012, also said it would provide assistance
Economy
Investors’ choices shape future of economy in a region
Sharjah is a gateway to the markets of the Gulf region, with a GDP of US$1.6 trillion. It provides a...
- There are rich investment options and promising opportunities available in the UAE, says Sharjah FDI Office CEO Mohammed Juma'a Al Musharrakh
- The strategic distribution of capital between key economic sectors will help maintain growth, stability and sustainability, adds Al Musharrakh
Economy
Loopholes in corporate governance, political interest hinder battle against corruption across Arab world
The UAE and few other countries figure at the top of the Transparency Index in the region, but this doesn't...
- The UAE and few other countries figure at the top of the Transparency Index in the region, but this doesn't mean that they have an excellent performance globally, says an expert.
- Though it is at the top among the Arab countries in the transparency index, still the UAE has been on the radar of FATF for money laundering
Economy
US trade deficit widens in 2022 to record on strong imports
US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping...
- This marks the biggest deficit in government data dating back to 1960.
- In December, the trade deficit expanded $6.4 billion to $67.4 billion, said the Commerce Department.
Market Report
Stocks steady, dollar higher on US rate-hike expectations
Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
- January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
- Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
Business
DEWA updates strategic plan to include achieving net-zero by 2050
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...
- DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
- The production capacity of clean energy in Dubai is around 14 percent of total power generated.
Economy
UAE Pension Authority to focus on awareness among Emirati employees
ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives...
- The authority said that it serve the community with utmost promptness and professionalism.
- There are presently 95,935 Emirati employees working in 9,082 federal, government and private entities in the UAE, who are insured by the GPSSA.
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
Company News
Latest News
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...
Economy
New platform to revolutionize global sustainability
World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...
COP28 UAE
MENA faces economic turbulence due to Gaza conflict
The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.
Economy
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Economy
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
- The agreement was inked between the Saudi Authority for Industrial Cities and Technology Zones "MODON" and the South Korean GL Rapha Holding Company
- As part of the pact, an expanse of 51,000 square meters in Sudair City for Industry and Business is set to be allocated, involving an investment totaling $200 million
Economy
Enhanced norms help UAE win financial crime battle
“This has led to heightened compliance levels with the country's laws, aligning with global efforts to combat money laundering and...
- The UAE adopts innovative legislative policies in order to combat money laundering and terrorism financing.
- Safeya Al-Safi, Director of Anti-Money Laundering, emphasizes heightened compliance with global standards.
Economy
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
- The UAE ranked fourth after Spain, Argentina, and Romania, according to the website, which develops rankings based on a variety of factors
- UAE Minister Omar bin Sultan Al Olama said his country has established a flexible and future-oriented system for remote work