NHC signs strategic deals worth $8 billion at the opening of Real Estate Future Forum 2025
Riyadh, Saudi Arabia - The National Housing Company (NHC) has signed a series of agreements, deals, and memoranda of understanding...
Economy
Billionaires on the rise globally- Oxfam Davos report
In its latest annual inequality report, “Takers Not Makers”, Oxfam explores how most billionaire wealth is taken, not earned. At least five...
Economy
German consumers look to 2023 with upbeat mood
A survey undertaken in Germany has revealed that consumers are heading into 2023 feeling upbeat as government interventions take some...
- The more upbeat mood comes as energy prices have eased off after hitting record highs in the wake of Russia's war in Ukraine
- The influential IfW Kiel institute has even predicted that the economy would dodge a recession altogether due to the government relief measures
Countries pledge to support Iraq’s ‘stability’ at Jordan summit
Iraq has been caught for years in a delicate balancing act between its two main allies, the United States and...
- The "Baghdad II" meeting in Jordan, which also included officials from France and the European Union, followed an August 2021 summit in Iraq's capital
- King Abdullah II emphasized Iraq's pivotal role in maintaining regional stability, while Egyptian President emphasized his country's rejection of all foreign interventions in Iraq
Economy
Gas giant Algeria slams EU gas price cap
Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers...
- The EU price cap, agreed Monday after months of negotiations, will apply from February 15 and run for a year
- EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter
YEARBOOK 2023
GCC cautious as more cyber attacks feared in 2023
Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success...
- Increased use of cloud-based apps and software has been observed in the GCC due to the businesses undergoing digital transformation
- Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts
Geostrategy
US plans new Israel-Arab meeting, hopes for Netanyahu restraint
WASHINGTON, UNITED STATES - The United States plans a meeting early in 2023 between Israel and Arab nations that recognize it...
- Benjamin Netanyahu is set to take office with the most right-wing government in Israel's history.
- A senior US official said the United States plans a meeting "probably in the first quarter" of 2023 of foreign ministers from the Negev summit in March.
Economy
Qatar’s Industrial Production Index rises 2.5 percent in October
Doha, Qatar – Qatar’s Industrial Production Index (IPI) rose by 2.5 percent in October 2022, compared to the corresponding month...
- The manufacturing groups which registered a rise include chemicals and chemical products by 1.8 percent, beverages (1.4percent).
- In the electricity, gas, supply sector, a decrease of 3 percent was noticed in the production of electricity between October 2022 and September 2022.
Business
Nearly 2,000 business executives attend World Corporate Summit in Dubai
DUBAI, UAE - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in...
- The business leaders were also building partnerships with over 100 roundtables, 20 networking sessions.
- The summit took a 360-degree view at ways to improve the world economy.
Economy
US lawmakers release $1.7 trillion spending bill to avert shutdown
WASHINGTON, UNITED STATES - US lawmakers early Tuesday released the text of a US$1.7 trillion funding bill which Congress hopes to...
- The bill includes $858 billion in defense funding and will also provide $44.9 billion in emergency assistance for Ukraine.
- It also includes $772.5 billion for non-defense discretionary programs, including $118.7 billion for Veterans Affairs medical care.
Geostrategy
Iran, EU diplomatic heads meet at Jordan summit
SWEIMEH, JORDAN - Iran's Foreign Minister Hossein Amir-Abdollahian met Tuesday with EU foreign policy chief Josep Borrell on the sidelines of...
- The meeting comes at a time when negotiations in Vienna aimed at reviving the 2015 Iran nuclear deal are stalled.
- EU foreign policy chief Josep Borrell tweeted that the meeting was "necessary... amidst deteriorating Iran-EU relations".
Economy
OPEC Fund approves over $500 million in new global development support
The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the...
- The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first Climate Action Plan earlier this year
- New engagements will support infrastructure development and investments to improve communities in the Fund’s partner countries around the world
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NHC signs strategic deals worth $8 billion at the opening of Real Estate Future Forum 2025
Riyadh, Saudi Arabia - The National Housing Company (NHC) has signed a series of agreements, deals, and memoranda of understanding...
Economy
Company News
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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
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
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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
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