Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow
As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...
Business
Non-oil sectors drive robust growth in GCC countries, says World Bank report
While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...
Economy
Geostrategy
Biden has ‘no plans’ to meet Saudi Crown Prince at G20 summit: US
Stormy US-Saudi relations have seen new strain over Riyadh's recent support for oil production cuts, with Biden warning of unspecified...
- The move was widely seen as a diplomatic slap in the face, since Biden traveled to Saudi Arabia in July and met with the crown prince.
- The Biden administration has voiced openness to retaliatory measures in Congress by enraged Democrats,. Saudis defended the move as motivated purely by economics.
Economy
Dubai Customs issues authorization certificates to free zone companies
Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments...
- Dubai Customs facilitates procedures to determine the value of the goods imported by the free zone companies.
- It provides services and facilities to licensed companies in free zones to boost investments and attract more investors.
Economy
Abu Dhabi Foreign Experts Court examines 200 cases
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the...
- The Foreign Experts Court has achieved a 90 percent disposition rate out of a total number of about 200 commercial cases.
- The panel of the Foreign Experts Court consists of a single judge and two foreign experts.
Business
Saudi to build world-class mining business in cooperation with South Africa
Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said...
- Saudi Arabia expects its mineral wealth to exceed $1.3 trillion as it plans to triple spending on exploration of metals over the next three years.
- Saudi deputy minister Khalid bin Saleh says the two countries will focus on quality of the projects.
Economy
UAE’s minister is new Chairman of WBG-IMF committee
During his two-year tenure, the minister will work with the committee that include ministers, and the Board of Governors of...
- The committee aims to achieve international cooperation and consensus on issues related to development
- Development Committee is a ministerial-level forum that represents the member countries of the WB and IMF
Economy
IMF, Egypt finalize work to reach staff-level agreement soon
Washington, US-- International Monetary Fund and Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very...
- IMF has said the implementation of Egypt's comprehensive structural reform agenda would gradually enhance the competitiveness of the economy.
- The two sides are still in the process of determining the Egyptian exchange rate policies.
Economy
Bahrain calls for adoption of new solutions to spur growth
Washington, US—Bahrain has called for adoption of innovative solutions to encourage economic growth and sustainable development goals for all countries....
- The country's Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, has stressed the importance of strengthening international cooperation
- The minister took part in the meeting of the World Bank Development Committee, within the annual meetings of the Board of Governors of the World Bank and the IMF in Washington
Geostrategy
Saudi Arabia and S. Africa to deepen ties in several fields
The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint...
- An agreement was signed between the two countries during the presence of Saudi's Crown Prince & Prime Minister and South Africa's President
- The agreement contains cooperation and exchange of news between the Saudi Press Agency (SPA) and the state-run South African News Agency.
Economy
GCC and UK hold first round of talks on Free Trade Agreement
The British government said the Free Trade Agreement is a major economic opportunity and plays a key role in the...
- The two sides discussed Free Trade Agreement's goals and the exchange of technical information in 29 areas.
- More than 100 British negotiators representing different sides of the British government participated in the round.
Economy
US President terms UK PM’s abandoned tax plan a “mistake”
Reacting to British PM Liz Truss's abandoned tax cut reform, US President Joe Biden has termed it a "mistake" as...
- Truss is set to sit down on Sunday with new finance minister Jeremy Hunt, who said she and Kwarteng had erred on September 23 in trying to cut taxes for the highest earners
- Hunt said that some taxes will not be cut as quickly as people want and that some of the taxes will go up
Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow
As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...
Business
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Sustainable finance part of UAE’s climate action plan
"The UAE's financial markets are proactively broadening sustainable finance options. The Dubai Financial Market has rolled out regulatory frameworks for...
Economy
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
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Business
GCC unified tourist visa to be introduced within 2 years, says UAE minister
ABU DHABI, UAE – Emirati Minister of Economy Abdullah bin Touq Al Marri has announced that the Gulf Cooperation Council...
- The new visa will open doors to travelers, granting them access to six countries under a single, unified tourist visa.
- The minister said the UAE is getting ready to welcome the new flow of international tourists with the new unified visa.
Economy
China, GCC members to deepen Belt and Road trade cooperation: Chinese minister
Guangzhou, China - China is committed to enhancing trade and investment ties with the Gulf Cooperation Council (GCC) as part...
- The announcement came during a meeting in Guangzhou which brought together trade ministers from China and the six member states of the GCC
- During the meeting, both sides pledged to align Belt and Road cooperation with the development strategies of GCC member countries
Qatar announces 27-year gas deal with Italy’s Eni
In June last year Eni agreed a deal with QatarEnergy for a 3.1 percent share in Qatar's North Field East...
- Doha will supply one million tons of gas a year under the deal, QatarEnergy said, following an agreement with Eni
- European nations have rushed to replace lost deliveries of natural gas from Russia in the wake of Moscow's invasion of Ukraine last year