Asia stocks mostly down after Wall St. losses
The "Santa Claus rally" got off to a good start but US stocks then fell across the board on Friday,...
Asian markets retreat as China pledges fail to spark excitement
Asian markets fell Friday as China's latest vows to boost the beleaguered economy failed to stir much excitement, while traders...
Economy
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
- The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
- The goverment hopes to start implementing the project in 2025, ending the first phase in 2033
Economy
Dubai ruler evinces support for global economic growth
Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
- He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
- More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions
Economy
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
- ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
- The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
- The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
- The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Geostrategy
EU stops import of products which causes deforestation
The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where...
- The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking".
- The scope encompasses palm oil, cattle, soy, coffee, cocoa, timber and rubber as well as derived products such as beef, furniture and chocolate.
Economy
Developing economies’ debt more than doubled over decade, says World Bank
The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the...
- Many countries are already facing or at risk of debt distress with surging global inflation and rising interest rates.
- The external debt of International Development Association countries also nearly tripled in the decade leading up to 2021.
Geostrategy
Libya tells foreign energy firms it’s safe to return
TRIPOLI, LIBYA - Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday...
- Rival administrations in east and west have vied for power in Libya since March.
- Libya aims to raise its oil output from around 1.2 million barrels per day currently to 2.0 million bpd by 2027, NOC chairman Farhat Bengdara said.
Business
Abu Dhabi Airports, Bombardier to create aircraft hub in UAE
This represents Bombardier’s first full-service facility in UAE.
- The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
- This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
Geostrategy
UAE, Saudi Arabia sign MoU for mutual recognition of maritime training
LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
- The move is in line to ensure the highest standards of maritime safety and within the outcomes of the Saudi-Emirati Coordination Council.
- This is as per the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978 and its amendments.
Economy
IEA says energy crunch driving renewables boom
Paris, France— The energy crisis is fuelling an acceleration of the rollout of renewable power, raising hopes for efforts to meet...
- The IEA report says total renewables capacity worldwide is set to almost double in the next five years and overtake coal as the largest source of electricity generation by 2025
- The amount of renewable power capacity added in Europe between 2022-2027 is forecast to be twice as high as in the previous five-year period
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
Asia stocks mostly down after Wall St. losses
The "Santa Claus rally" got off to a good start but US stocks then fell across the board on Friday,...
Company News
Latest News
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
Analysis
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
Business
Sustainability in style: UAE’s couture goes green
The UAE is shifting from Western influences to eco-friendly practices in its apparel market. 2023 marks the nation's commitment to...
Business
Most Read
Business
Sharjah records real estate transactions worth US$980m in October 2023
SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate,...
- This reflects a substantial increase compared to September's real estate activity, where the trade volume reached $544 million.
- The report underscored the confidence of clients in the emirate's real estate sector and its capacity to attract investors.
Economy
Egypt annual core inflation falls 1.6 percent in October
Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
- According to the country's central bank, the annual headline urban consumer inflation rate reached 35.8% in October, down from 38% in September
- Last week, the government also announced increases in petrol prices of up to 14.3% amid higher global prices and a weakened exchange rate
Economy
Insect farming ‘revolutionizes’ Gulf agriculture
Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
- Many experts feel insect farming as against livestock farming emits fewer greenhouse emissions and uses fewer natural resources like water and feed
- The region, however, with its unique climatic conditions and inadequate water supply, poses many hurdles for sustainable insect cultivation