Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States - President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Iran slams new EU, UK sanctions as unjustified: foreign ministry
ran's foreign ministry Tuesday slammed as unjustified the new sanctions by the European Union and Britain against Tehran over its...
Economy
Jordan and Iraq to deepen political, economic ties
Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries....
- During bilateral talks King Abdullah expressed keenness to enhance the strong ties between the two countries
- Discussions covered regional issues and crises, the Palestinian cause, and efforts to counter terrorism
Economy
China unveils plan to shore up industrial economy
Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries
- Efforts will be made to tap into market potential to grow consumer demand, stabilise exports of industrial products
Search for buried survivors after Indonesia quake kills 162
The epicenter of the shallow 5.6-magnitude quake on Monday was near the town of Cianjur in Indonesia's most populous province...
- Indonesia's national disaster mitigation agency, or BNPB, said at least 25 people were still buried under the rubble in Cianjur as darkness fell on Monday
- The devastation caused by the quake was made worse by a wave of 62 smaller aftershocks -- with magnitudes ranging from 1.8 to 4 -- that kept shaking Cianjur
Infographics
Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's...
- The increase in benchmark rates by global and regional central banks to combat runaway inflation also affected project funding.
- The UAE overtook Saudi Arabia as the largest projects market in the GCC during Q3-2022.
Economy
COP27 agrees to fund climate damages, no progress on emission cuts
A final COP27 statement covering the broad efforts to grapple with a warming planet held the line on the aspirational...
- Tired delegates applauded when the fund was adopted as the sun came up Sunday following two extra days of negotiations
- UN chief Antonio Guterres said the talks had "taken an important step towards justice" with the loss and damage fund
Business
AD Ports Group and Transmar launch new Pakistan Service
The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.
- The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti
- The new route will contribute to AD Ports Group’s strategic objectives of increasing regional and global connectivity
Arts & Culture
Sheikh Zayed Festival to air World Cup matches for fans
Abu Dhabi, UAE— The Sheikh Zayed Festival will provide a number of screens for the regular airing of the FIFA...
- According to the Higher Committee organizing the festival, the screens will be set up throughout different areas from the 20th November to 18th December 2022
- Fans can enjoy an exciting array of events, before and after games that include concerts, entertainment, heritage and cultural shows
Economy
China’s natural gas output up 12.3% in October
The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago.
- The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago
- In the first 10 months of this year, China's natural gas output rose 6 percent YoY to 178.5 billion cubic metres
Economy
Qatar’s IPI increases by 4.9 percent in September
Doha, Qatar— The Industrial Production Index (IPI) of Qatar has increased by 4.9 percent in September of 2022 when compared...
- The mining sector index showed a decrease by 2.8% compared to the previous month (August 2022)
- The index of the manufacturing sector showed a decrease by 5.3% compared to the previous month (August 2022)
Business
FIFA says 2.95 million World Cup tickets sold
Queues have built up outside the FIFA ticket centre in Doha and fans report long waits to get onto the...
- Qatar has already overtaken Russia 2018, when just over 2.4 million tickets were sold
- The start of the World Cup has led to a surge of interest in the 64 matches over 29 days
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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
Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States - President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Company News
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Masdar, Africa50 sign MoU
Business
China owed more than $1 trillion in Belt and Road debt: report
Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid...
Economy
Qatar leads by example in money laundering control
"Nations must take action to establish measures for detecting the physical cross-border movement of currency and negotiable instruments to combat...
Economy
Dubai approves $67bn budget to stimulate economic recovery
Dubai, UAE - Dubai government's general budget for the fiscal cycle of 2024-2026 includes total expenditures of $67.16 billion (AED...
Economy
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Geostrategy
UAE issue guidelines on unlicensed virtual asset service providers
Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC)...
- The guidance aims to educate licensed financial institutions (LFIs) and public sector on the risks associated with unlicensed virtual asset service providers.
- It aligns with Financial Action Task Force (FATF) publication on updated guidance for a risk-based approach to virtual assets and virtual asset service providers.
Economy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
- The Food and Agriculture Organization said it conducted an analysis in 154 countries to determine the "true" cost of the agrifood system.
- The global quantified hidden costs totaled around $12.7 trillion in 2020, representing almost 10 percent of the global gross domestic product.
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
- On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million.
- Remittances by Saudi nationals to other countries also fell 11 percent YoY to US$1.2 billion in September.