Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
Economy
Algeria passes biggest-ever US$98.5 billion annual budget
Algiers, Algeria-- Algeria approved the 2023 budget, the largest in the country's history after President Abdelmadjid Tebboune approved the Finance...
- The government set a reference oil price estimated at US$60 per barrel, up by US$15 per barrel over the 2022 budget
- The figures in the annual budget showed an increase in defense spending, which topped the rest of the sectors with US$22.7 billion, to be the largest in Algeria's history.
Economy
Saudi Arabia and Japan bolster energy ties, sign new deals
Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of...
- The deal was signed at the first ministerial meeting of the Saudi-Japanese Ministerial Dialogue for Energy in Riyadh
- Nishimura will be in Saudi Arabia, Japan’s largest importer of crude oil, until Monday and will then go to Oman, a supplier of LNG, on Tuesday
Business
Pact to transform Makkah, Madinah into business hubs for Islamic world
The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at...
- The partnership would boost the business sectors in the holy cities through exhibitions and forums, lectures, workshops and dialogues with decision-makers from the Islamic world.
- Chairman of the Board of Directors of the Madinah Chamber, Munir Muhammad Nasser bin Saad, said the agreement will contribute towards promoting cultural heritage of the holy cities
Economy
UAE Ministry of Climate Change organizes first meeting of Farmers’ Council
DUBAI, UAE - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri presided over the first meeting...
- The meeting highlighted the government directions to promote sustainable modern farming systems across the UAE.
- The meeting discussed the government's decisions to increase the agricultural sector’s productivity, commercial value and enhance food security.
Geostrategy
Fishermen return to Iran years after Somalia kidnapping
TEHRAN, IRAN - Fourteen Iranian fishermen seized by the Al-Shabaab militant group in Somalia, some as long as eight years ago,...
- The fishermen were welcomed in a special ceremony at Tehran's Imam Khomeini International Airport.
- Their release comes almost a month after Somali police said they discovered 20 foreigners near territory controlled by the militant group.
Business
DEWA 9th Sustainability Report showcases its progress in sustainable development
DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and...
- The Sustainability Report 2021 introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability.
- The report demonstrates the progress made by DEWA, and its contributions to achieving the United Nations Sustainable Development Goals 2030.
Economy
Qatar Chamber seeks to boost economic ties with Serbia
Doha, Qatar-- Qatar Chamber has discussed ways to enhance trade and economic cooperation with Serbia during the meeting of First...
- Bin Twar noted the importance of forming the Qatari-Serbian joint business council, for which a memorandum of understanding was signed to establish it 3 years ago
- Marco Cadez called on Qatari business owners to visit Serbia and learn about the investment climate and available investment opportunities
Economy
Saudi and Turkish banks sign US$26m financing line agreement
Riyadh, Saudi Arabia--Saudi Export-Import Bank has announced the signing of a $26 million financing line agreement with Turkyie Finance Katilim...
- It also signed an agreement with Turkish Export Bank that allows cooperation in several fields, including the exchange of experiences and the promotion of exports
- The two agreements come within the framework of Saudi partnerships with Turkish financial institutions, and within the bank’s direction to develop its local and foreign partnership
Economy
Iraq football body launches ticket sales for Gulf Cup
The Gulf Cup brings together the hosts as well as Saudi Arabia, Kuwait, Qatar, Yemen, Bahrain, Oman and the United...
- The federation shared a link for the ticketing website on its Facebook page, with prices ranging from $10-$30
- Iraq has scrapped visa fees for the football fans entering Iraq for the upcoming tournament
YEARBOOK 2023
Reforms in tax and visa rules to drive UAE’s growth
The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023...
- The UAE is expected to become the fifth country within the Gulf Cooperation Council to have a corporate tax regime, say experts in the region
- The new visa system offers 60 days visit visa, a five-year multi-entry tourist visa, a job exploration visa, a five-year green visa, and a 10-year golden visa
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
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
Company News
UAE most competitive MENA economy
Infographics
Latest News
Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern
Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...
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)...
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...
Economy
Most Read
Movement against ‘Pro-Israeli’ fast-food chains gains momentum
Tehran, Iran – Egypt, Jordan, and Turkey witnessed a significant surge in a boycott targeting multinationals that have either pro-Israeli...
- Amidst rising global condemnation of Israel's actions in Gaza, the boycott movement gains significant momentum
- Countries such as Kuwait and Morocco join the movement, adding to the international pressure on Israel
Economy
Dubai to host corporate governance experts at ICGN-Hawkamah Conference
Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and...
- Experts will hold discussions on topics such as national visions towards sustainable economies in the MENA region, the role of corporate boards in the governance of sustainability
- Against the backdrop of COP28, the event aims to explore how corporations can align their strategies with climate goals while fulfilling their corporate governance responsibility
Business
Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
- The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China
- Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc,will help in funs according to sources familiar with the matter.