Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
Science
UAE climate change ministry launches roadmap to plant 100m mangroves by 2030
ABU DHABI, UAE - UAE Ministry of Climate Change and Environment (MOCCAE) launched the roadmap for the National Carbon Sequestration...
- This is as part of its efforts to implement the UAE's strategic initiative to achieve Net Zero by 2050.
- The project is part of the strategic directions of the UAE to increase reliance on nature-based solutions in facing environmental challenges.
Geostrategy
UAE participates in First Framework Working Group meeting within G20 Finance Track
BENGALURU, INDIA - The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which...
- Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023.
- The meeting was also attended by G20 members, invited countries and representatives from international organizations.
Economy
Jordan arrests 44 after deadly fuel protests
AMMAN, JORDAN - Jordan has arrested dozens of people accused of involvement in protests against rising fuel prices in which a...
- Jordan's Public Security Directorate said that reinforcements had been sent to the violence-affected provinces.
- Jordan's King Abdullah II warned that "anyone who raises a weapon against the state will be dealt with firmly".
Economy
Jordan court sentences captagon smugglers to long prison terms
Amman, Jordan--Jordan’s judiciary on Thursday sentenced two men to long prison terms for attempting to smuggle nearly two million captagon...
- The two men, whose identities have not been disclosed, had attempted to smuggle more than 1.9 million captagon pills from Syria to Jordan in 2021
- The Jordanian army reported in February that an organized ring had attempted to smuggle drugs across the border into the country using drones
Economy
Lebanese bank faces depositor lawsuit following US court decision
In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the...
- In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the local currency
- Savers have challenged the restrictions in local and international courts, seeking to get back their money promptly in US dollars
Economy
Jordan, Iraq agree to extend MoU on importing Iraqi oil
Iraq is currently supplying Jordan with 10,000 barrels of oil per day (bpd).
- Iraq is currently supplying Jordan with 10,000 barrels of oil per day
- The average price of crude oil exported to Jordan reached $75.67
Economy
Britain, Dubai to deepen data partnership
There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers.
- There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers
- DIFC is the first financial centre in the MEASA region to engage with the UK Government on an adequacy assessment
Economy
Egypt to receive US$3 billion loan from IMF
Washington, United States--The Executive Board of the International Monetary Fund on Friday approved a $3 billion loan to Egypt, with an immediate...
- IMF said that Egypt is expected to receive, through the EFF program, about US$14 billion in additional financing "from its international and regional partners
- As the world's largest importer of wheat, it has been hit hard by soaring grain prices due to the Russian invasion of Ukraine
Economy
FIFA Cup helps Qatar, Egypt warm up bilateral ties
The two countries explore areas of joint cooperation to strengthen political, economic, investment and trade relations.
- The two countries explore areas of joint cooperation to strengthen political, economic, investment and trade relations
- Both seek to boost coordination of parliamentary positions between the two councils in regional and international forums
Geostrategy
France and Morocco mend ties after visa spat
RABAT, MOROCCO - France and Morocco announced Friday they were mending fences after months of tensions over visas, and said President...
- Speaking in Rabat alongside her Moroccan counterpart, French Foreign Minister said it was time to "write a new page together".
- French President Emmanuel Macron and Morocco's King Mohammed VI spoke by phone after their countries' dramatic World Cup semi-final clash.
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
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
Company News
Latest News
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
Business
AI, Industry 4.0 transform Middle East manufacturing
"As we look ahead, the manufacturing landscape is set to continue evolving, navigating through the VUCA (volatility, uncertainty, complexity, and...
Opinion
Strains emerge in 72-year-old Türkiye-Israel trade ties
Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel...
Economy
Most Read
Economy
UAE unveils ‘roadmap’ to reduce food waste by 50 percent
Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
- The initiative was unveiled at the fourth national dialogue on Food Security organized by the Ministry of Climate Change and Environment with ne’ma
- The minister said the roadmap will be a collective effort to bring down food waste by setting up new social norms, policies across the food ecosystem
Economy
Gaza conflict casts shadow on Israel’s gas industry
War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
- The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
- The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
- Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
- Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.