Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...
Business
Economy
Saudi investments in Egypt grow to US$6.12 billion
Riyadh, Saudi Arabia--Saudi Arabia has invested some $6.12 billion in more than 6,000 projects in Egypt, according to the Minister...
- The trade minister announced the investment figure during his visit to Riyadh on Dec. 25, where he met Saudi ministers and senior officials to boost bilateral ties
- The kingdom is the top exporter among Arab nations with exports worth $6.4 billion, followed by Kuwait, the UAE and Oman
Economy
Jobs for Emiratis: UAE pushes work for own citizens
The UAE - like other oil-rich Arab Gulf states - has often used the public sector as an employment vehicle...
- Just 12 percent of the country's more than nine million residents are UAE nationals, with over 90 percent of private sector jobs taken by foreigners
- The government is now strong-arming private firms into hiring local talent, with the aim of ensuring Emiratis make up 10 percent of the private sector workforce by 2026
Economy
Investigators from Europe to visit Lebanon in central bank chief probe
A team of investigators from Europe will visit Lebanon next month to probe into the wealth of central bank governor...
- The visit aims to conduct investigations into financial affairs linked to Salameh
- A Lebanese prosecutor probing Salameh on suspicion of financial misconduct requested charges be issued against him based on preliminary investigative findings
Tunisia electoral board threatens media rights: rights groups
In a joint statement on Tuesday, 28 organisations said ISIE had "targeted freedom of expression to the point where it...
- Last week, the ISIE elections authority filed 24 legal complaints against media organisations and bloggers in the North African nation
- Tunisian and foreign rights groups have warned that his actions threaten the only democracy to have emerged from the Arab Spring uprisings
Business
15 MoUs in several sectors signed at Saudi-Japan Investment Forum
Riyadh, Saudi Arabia - As many as 15 memorandums of understanding were signed between Saudi Arabia and Japan in several...
- The forum highlighted the investment opportunities to strengthen the investment partnership between the two countries in light of Saudi-Japan Vision 2030.
- It also reviewed opportunities to expand the investment partnership between the two countries in a number of the strategic sectors.
Economy
Iraq Prime Minister summons central bank governor as currency slides
One US dollar traded at 1,580 Iraqi dinars on the street Tuesday, against the central bank rate of 1,470 dinars,...
- The central bank has blamed the slump on "temporary pressures" sparked by the "adoption of new mechanisms to protect the banking sector, customers, and the financial system".
- Iraq's Association of Private Banks said the rate had risen as a result of changes to the "mechanism" of foreign currency sales due to international requirements.
YEARBOOK 2023
Sustainable digital shift in GCC need of the hour
Sustainability remains key focus as the UAE and Saudi Arabia speed up digitalization, which has been the fundamental pillar of...
- Gartner expects that by 2025, 50 percent of chief information officers (CIOs) will have performance metrics tied to the sustainability of the IT organization.
- In the Arab Gulf, national economic visions aimed at alleviating petrochemical dependence have put renewable energy sources front and center.
Business
UAE announces inclusion of Creative Zone in NextGenFDI initiative
ABU DHABI, UAE - The Ministry of Economy has announced that Creative Zone, one of the UAE's largest consulting and...
- The NextGenFDI program, which was launched in July 2022, aims to attract digitally-advanced companies to the UAE.
- NextGenFDI includes fast business licensing, group visa issuance, fast access to banking facilities, as well as access to educational and cloud services.
Economy
Dubai Land Department launches its strategic plan 2026
DUBAI, UAE : The Dubai Land Department (DLD) launched its new strategic plan and vision, shaping the features and landmarks...
- The new strategic plan is in line with the national agenda to build a better economy.
- DLD has a mission of enabling the real estate community by providing seamless services, effective legislation and integrated data.
Business
DEWA’s hydroelectric power plant in Hatta is 59 percent complete
DUBAI, UAE - The Dubai Electricity and Water Authority (DEWA) under-construction pumped-storage hydroelectric power plant site in Hatta is 58.48...
- This is the first station of its kind in the GCC, with investments of up to US$387 million.
- The power plant will have a production capacity of 250 megawatts, a storage capacity of 1,500 megawatt-hours.
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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
Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
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Brazil, UAE forge ahead with stronger bilateral ties
“We would like the UAE to be a partner in our current process of investing in infrastructure. It is a...
Economy
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...
Economy
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Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Economy
Oil industry faces moment of truth as clean energy transitions advance: IEA
Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate...
- The IEA report examined the implications and opportunities for the industry that would arise from stronger international efforts to reach energy and climate targets.
- The report estimates that the present valuation of private oil and gas companies could fall by 25% from $6 trillion today if all national energy and climate goals are reached
Economy
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...
- UAE was Indonesia’s second-largest trading partner in the Middle East in 2022
- Indonesia recorded $61.8 million in direct investment from the UAE in Jan-September 2023