Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
Economy
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
Infographics
UAE solar energy leader in Arab world
Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five...
- Renewable energy generation projects in the Arab countries will reach nearly 92 percent of the region's total targets by 2030.
- More than 12 gigatons of wind and solar energy are currently produced in the Arab region, the report said.
Market Report
Stock markets rally, as euro briefly surges
Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed...
- The euro surged a day after German central bank chief signaled the European Central Bank would probably continue raising its key rate.
- The European single currency rocketed more than 1.4 percent against the dollar and 1.6 percent versus the yen before trimming gains around midday.
Geostrategy
Norway skeptical about EU proposal on gas price cap
Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who...
- European energy ministers who met in Brussels said they were in favor of measures for combating soaring gas and electricity prices.
- European Commission has proposed a price ceiling on gas imported from Russia, several members called for a price ceiling on all gas bought by EU states.
Business
Abu Dhabi industrial sector registers 136 new licenses in H1
Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth...
- The number of licenses transitioning to the construction phase reached 62, with the number of licenses having moved from under-construction to in-production reaching 44 factories.
- The total value of Capital Expenditures (CAPEX) of industrial establishments that switched to in-production stage rose to AED 3.1 billion compared to AED 1.03 billion in H1 2021.
Science
IAEA approves operational safety at Barakah Nuclear Power Plant
An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety...
- The Operational Safety Review Team had concluded a five-day follow up mission to the Barakah NPP.
- OSART missions aim to improve operational safety by independently assessing safety performance against the IAEA’s safety standards.
Science
UAE issues updated second NDC to reduce emission
The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved...
- The new document outlines the country’s increased climate target of reducing greenhouse gas emissions by 31 percent.
- The reduction target translates into an absolute emission avoidance of 93.2 million metric tonnes of CO2e.
Economy
Qatar private sector exports up 21 percent in second quarter: Chamber
Qatar’s private sector exports during the second quarter of 2022 amounted to QAR 8.92 billion ($2.44 billion), a 21 percent...
- On a quarterly basis, it also surged 15.4 percent compared to QR 7.73 billion in Q1-2022.
- The report attributed the surge to the private sector’s ability to adapt to normal and abnormal economic conditions and to achieve rising growth rates.
Geostrategy
UN urges EU against fossil fuels in energy crisis
The UN urged EU countries on Monday to continue battling climate change and not resort to more fossil fuels in...
- Moscow's invasion of Ukraine has seen the price of natural gas hit record levels, throwing the European Union economy into deep uncertainty.
- Before the war, 40 percent of the EU's gas imports came from Russia.
Business
Costa Rica-UAE bilateral trade up by 292 percent since 2017: Minister
Abu Dhabi, UAE--Costa Rica's foreign minister Arnoldo Andre has said that the trade between his country and the UAE has...
- For the year 2021, the total trade between both countries reached $49.1 million.
- 37 Emirati companies have attended a Costa Rican trade fair to learn about the country's productive capacities and its export potential.
Economy
Egypt adopting Russian Mir payment system to boost tourism, trade
The Central Bank of Egypt in cooperation with the Egyptian Ministry of Finance, will allow banks across Egypt to access...
- The Central Bank of Egypt in cooperation with the Egyptian Ministry of Finance, will allow banks across Egypt to access the Russian Mir payment card system later in September
- After the Crimean Peninsula was occupied in 2014, Russia developed the Mir system in order to evade sanctions imposed on its ability to transfer funds abroad
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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
Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
Economy
Company News
Latest News
Innovative solutions crucial to deal with challenges
"From 2021 to 2022, Saudi exports to Portugal jumped by 50 percent, and imports from Portugal rose by nearly 40...
Economy
Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023
RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77...
Market Report
People marvel at ancient Iraq in new ‘Assassin’s Creed’ game
The central character, pickpocket turned master assassin Basim, speaks classical Arabic in "Assassin's Creed Mirage",.
Arts & Culture
Most Read
Geostrategy
Qatar, Iran discuss cooperation in free zones, investment
DOHA, QATAR - Minister of State and Chairman of the Board of Directors of the Free Zones Authority Ahmad bin...
- The Qatari minister and the Advisor to the Iranian President discussed reinforcing cooperation between the two countries.
- The Iranian leader and accompanying delegation toured the Free Zones at Ras Bufontas and Umm Alhoul Free Zone.
Economy
Largest climate fund seeks new funding for vulnerable
The Green Climate Fund (GCF) was set up as part of the landmark 2015 Paris Agreement to funnel grants and...
- The Green Climate Fund says Thursday's conference in Germany will allow it to invest more in a decade it sees as critical for climate action
- It has laid out a 50by30 vision to manage $50 billion by 2030, almost triple its current capital of $17bn, to focus efforts on developing countries
Economy
‘Qatar remains committed to curb financial crimes’
The Gulf country "remains commitment to international strategies and plans targeting financial crime. In 2023, FATF completed its evaluation of...
- Qatar has achieved top compliance levels in combating financial crimes, as recognized by the Financial Action Task Force
- In 2023, the FATF completed its evaluation of Qatar's anti-money laundering and counter-terrorism financing system