Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
What is the gig economy and what’s the deal for gig workers?
The rise of the gig economy has led to significant shifts in employment, with workers increasingly balancing multiple income streams....
Economy
Greece and Egypt call Turkish-Libyan gas deal ‘illegal’
On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the...
- Greece, Egypt and Cyprus believe the 2019 agreement violates their economic rights in an area suspected to contain vast natural gas reserves
- The deal follows an agreement Turkey signed three years ago with Tripoli that demarcated the countries' shared maritime borders
Economy
Gulf citizens wealthier as oil boom raises revenue
Qatar ranks first in the Arab world and the Gulf region with an annual per capita share of around $183,000,...
- Bahrain ranked fourth in the Gulf and the Arab world, with an average per capita wealth of $98,000.
- Oman was ranked sixth in the Arab world and the Gulf, with an annual GDP per capita of about $39,433.
Economy
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...
- On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
- Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Geostrategy
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...
- Qatar relies heavily on Jordanian market for vegetables and fruits.
- Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
Geostrategy
French PM leads delegation to Algeria as ties improve
French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the...
- Ties between the North African country and France had seen months of tensions after Macron last year questioned Algeria's existence as a nation before the French occupation.
- The French PM is expected to sign deals on economic cooperation, including energy.
Business
Qatar lures the rich with luxury World Cup
Those with bottomless budgets in the resource-rich region have attractive accommodation options too, with one third-party site offering $4,000-a-night hotel rooms...
- Stadium crowds will include Qatar's migrant laborers, who were offered some tickets at $11 to watch a sport whose players and core supporters are traditionally blue-collar
- United States, Britain, France, Mexico, China and India were among the countries where fans were showing most interest in packages for the UAE
Economy
War and energy crisis push US LNG industry to expand
US suppliers have exported 1,574 billion cubic feet (44.6 billion cubic meters) of LNG to Europe so far in 2022,...
- US has become the world's largest exporter of LNG, an industry centered around the energy-rich Gulf of Mexico, with its infrastructure and strategic location
- In June, an explosion caused the temporary closure of the Freeport LNG terminal further south, reminding residents of the immediate risks posed by the plants
Economy
German coastal state goes to polls amid acute energy crisis
Frankfurt, Germany— Germans in the coastal state of Lower Saxony vote in a closely-watched regional election Sunday, seen as a key...
- Anxiety about soaring energy bills has dominated the race in the northwestern region on the North Sea, providing a snapshot of the national mood
- One major bone of contention between the leading candidates has been the fate of Lower Saxony's Emsland nuclear power plant, one of only three still operational in Germany
Economy
Sharjah tourism body to highlight AI, technology in tourism
Sharjah Commerce and Tourism Development Authority (SCTDA) has confirmed its participation at the 42nd GITEX Technology Week, to be held...
- The authority will showcase new projects and emerging prospects in Artificial Intelligence and Metaverse.
- SCDTA will highlight the innovative use of technologies and their impact on hospitality, tourism and commerce.
Science
DEWA invites proposals for work on sixth phase of solar park
Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the...
- The 900 MW sixth phase of the Solar Park will be implemented using photovoltaic solar panels.
- The production capacity of clean energy has reached about 12.1 percent of Dubai’s total energy mix.
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
Company News
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Egypt ‘clearing path for Gaza aid’: security source, witnesses
The UN has described the situation inside Gaza as "beyond catastrophic" as Israel pounds the enclave from the air in...
Moody’s puts Israel’s credit ratings on review for downgrade
Moody's announced that it was putting a number of the Israeli government's credit ratings on review for a downgrade, including...
Tourism prowess makes Riyadh top World Expo choice
As Riyadh vies to host 2030 World Expo, the city offers a perfect blend of historical charm and modernity, spotlighting...
Economy
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Economy
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
- Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
- The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029
Business
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk)....
- The issuance will be listed on the London Stock Exchange’s International Securities Market (ISM).
- The sukuk issuance was more than seven times oversubscribed, with orders exceeding $25 billion,
Business
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...
- The pact encompasses cooperation and the exchange of best practices and experiences in metrology, calibration and safety of consumer products.
- The MoU includes provisions for training, capacity building and collaboration in the development of infrastructure for standards and quality.