Oil prices on the rise despite down week
Oil prices rose on Friday as markets weighed the threat of tariffs by U.S. President Donald Trump on Mexico and...
‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
Economy
ADJD discusses developments in Evidence Law in civil, commercial transactions
ABU DHABI, UAE - Participants in the second Justice Partners Forum organized by Abu Dhabi Judicial Department (ADJD) discussed the...
- The virtual forum highlighted the importance of partnering with lawyers.
- The forum also reviewed a number of cases handled by the courts.
Business
Fujairah Chamber board approves 2023 operational plan and budget
Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private...
- 2023 operational plan comprises several programmes and activities, including the development of the chamber's electronic system.
- The Board stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products.
Economy
Subscription to Unemployment Insurance Scheme starts on January 1
The Unemployment Insurance Scheme (UIS) aims to create a low-cost job safety net that supports employees in their professional journey.
- The Unemployment Insurance Scheme (UIS) aims to create a low-cost job safety net that supports employees in their professional journey
- Anyone who loses their job as a result of termination of services is entitled to a maximum three-month cash compensation
Economy
Net foreign investments in UAE stocks hit $8bn since start of 2022
The volume of investments is the outcome of the UAE's ongoing efforts to attract foreign investors.
- The volume of investments is the outcome of the UAE's ongoing efforts to attract foreign investors
- Non-Arab investors' purchases of local shares in ADX and DFM amounted to $37,332,375,493
Tunisia’s Saied downplays puny poll turnout, slams critics
Saied lashed out at unnamed critics, accusing such rivals of "drowning in corruption and treachery" and of "plotting against the...
- Just 11.2 percent of registered voters took part in the December 17 polls for a neutered parliament, which capped Saied's overhaul of the political system
- Turnout - initially announced at just under nine percent - was the lowest since the 2011 revolution that overthrew dictator Zine El Abidine Ben Ali
Economy
Construction industry contributed $186.8bn to Arab GDPs in 2021
The Saudi and UAE construction sectors contributed the most to their countries' GDPs, with around $45.5 billion and $36.8 billion,...
- The Saudi and UAE construction sectors contributed the most to their countries' GDPs, with around $45.5 billion and $36.8 billion, respectively, AMF report said
- Egypt ranked third with around $27.3 billion, followed by Qatar, $24.1 billion, Algeria, $19.8 billion, Morocco, $7.7 billion, and Oman with $6.4 billion, according to the report
Economy
Algeria offers Sahara tourists visas on arrival
In a statement, it said that "foreigners heading to the south of the country" who have tours booked with licenced...
- Algeria, Africa's biggest country by surface area, comprises a major chunk of the Sahara including nature reserves and prehistoric sites
- But the North African country hosts far fewer tourists than its neighbours, Morocco and Tunisia, relying instead on its vast oil and gas revenues
World economy faces more pain in 2023 after a gloomy year
Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency...
- Many countries are now grappling with cost-of-living crises because wages are not keeping up with inflation
- Consumer prices in the Group of 20 developed and emerging nations are expected to reach eight percent in the fourth quarter
Economy
Jordan approves executive program of Economic Modernization Vision
The executive program includes a specific time frame for implementation, clear indicators for measuring performance, and an electronic system to...
- The executive program includes a specific time frame for implementation, clear indicators for measuring performance, and an electronic system to follow up on achievement
- Prime Minister Bisher Khasawneh directed all relevant ministries and institutions to start implementing the executive program within the timelines set forth therein
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
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Oil prices on the rise despite down week
Oil prices rose on Friday as markets weighed the threat of tariffs by U.S. President Donald Trump on Mexico and...
Company News
Latest News
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...
Business
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
Economy
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
Most Read
Climate change already reducing global GDP: report
Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the...
- The report estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations
- "The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising
Business
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
- Martina A Strong underlined the UAE's significance as a market for American companies, highlighting the presence of over 1,500 American businesses
- The companies are drawn to the UAE's strategic location, its pro-business environment, and its gateway to burgeoning regional markets, she noted
Economy
UAE pioneers smart city, clean energy initiatives
"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total...
- The UAE leads in sustainable development and urban planning, emphasizing renewable energy, efficient buildings, and sustainable transportation for a greener future.
- The UAE's Energy Strategy 2050 aims for 50% clean energy, while Dubai's Clean Energy Strategy 2050 targets 75%, supported by solar parks and green funds.