‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...
Economy
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
Economy
UAE president waives over $146 million debt for 1,214 Emiratis
The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions.
- The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions
- Al Suwaidi said that the waiver falls within the UAE leadership’s keenness to ensure a decent life for all UAE nationals
Economy
Qatar says ‘400-500’ workers died on World Cup projects
More than 400 migrant workers died in labor accidents in Qatar in the build up to the World Cup, according...
- Migrant workers make up more than 2.5 million of Qatar's 2.9 million population
- Qatar has also introduced a minimum wage of 1,000 riyals ($260) and restricted hours in which workers can go out in extreme heat
Economy
OIC countries suffer US$63bn trade deficit in halal products; Turkey, Indonesia, Malaysia top exporters
The bloc's exports of halal products equaled US$275 billion, while their imports totaled US$338 billion last year, says the 2022...
- The bloc's exports of halal products equaled US$275 billion, while their imports totaled US$338 billion last year, says the 2022 Annual OIC Halal Economy Report
- While OIC countries remain import reliant for the food, pharmaceuticals and cosmetics sectors, they are net exporters of apparel and footwear products, it adds
Geostrategy
EU uncovers US$2.3-billion cross-border tax fraud
The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France,...
- Prosecutors uncovered a network of "criminal activities" operating in almost all 27 EU member states.
- These activities also operated in Albania, Britain, China, Mauritius, Serbia, Singapore, Switzerland, Turkey, the United Arab Emirates and the United States.
Geostrategy
‘Russian targeting of Ukraine energy is war crime’
BERLIN, GERMANY - Russian missile strikes on energy infrastructure in Ukraine constituted a "war crime", German Justice Minister Marco Buschmann...
- A Russian campaign of missile strikes has severely damaged Ukraine's energy infrastructure.
- The members of the G7 group of industrial democracies had to cooperate to combat war crimes.
Business
HSBC sells Canada ops for $10bn
Bank will use funds for core business, give cash to investors.
- The large sale comes after UK-listed HSBC faced calls from biggest shareholder Ping An Insurance Group to cut costs and shift more resources to Asia.
- The Canadian divestment is expected to be completed in late 2023.
Infographics
Will Gulf economies expand despite global woes?
Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies...
- Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.
- In 2023, the UAE economy will grow 4.2 percent, outpacing Saudi Arabia (3.7 percent), Bahrain (3 percent), Oman (4.1 percent), Kuwait (2.6 percent), and Qatar (2.4 percent)
Business
Qatar reaches long-term gas supply deal with Germany
QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to...
- QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to the Brunsbuttel LNG terminal
- Negotiations with European countries had previously struggled as Germany and others balked at signing the type of long-term deals made with Asian nations
Science
All regions experienced water extremes in 2021, says UN
GENEVA, SWITZERLAND - All regions of the world saw water extremes last year - both floods and droughts - and...
- Large areas of the planet recorded drier than normal conditions in 2021, the UN's World Meteorological Organization said.
- Some 3.6 billion people face inadequate access to freshwater at least one month per year.
Economy
EU spent €15.2bn on imports of green energy products last year
The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.
- The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU
- The EU imported €11.2 billion worth of solar panels and €3.4 billion worth of liquid biofuels from countries outside the bloc
‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...
Economy
Company News
Latest News
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
Economy
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
Business
Qatar’s consumer price index rises by 1.08% in October 2023
DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent...
Economy
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Opinion
Russia-UAE economic ties strengthen with $9bn trade
The streamlined IP processes, including efficient patent registration and robust litigation frameworks, are key factors contributing to this thriving bilateral...
- The UAE's innovations in the oil sector offer patent opportunities in Russia.
- Intellectual Property (IP) protection vital for Russian imports of UAE goods.
Business
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
- It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
- Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
- The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
- He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry