Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Business
‘Jordan not affected by India’s decision to restrict rice exports’
President of Foodstuff Traders Association (FTA), Khalil Haj Tawfiq, said India's decision to restrict its exports of some rice varieties...
- India's decision will not affect availability of rice in Jordan's local market, neither hike its prices.
- The decision of banning export of certain varieties of rice are not imported by Jordanian traders.
Science
World Green Economy Summit 2022 theme revealed
Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...
- The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
- It also reflects international efforts to achieve climate goals.
Economy
Egypt hikes price of customs dollar to highest ever
Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported...
- The Egyptian Ministry of Finance raised the price of the customs dollar to 19.31 Egyptian pounds with immediate effect
- In June, the Egyptian government released the customs dollar price, which was recorded at 18.64 pounds, at that time equal to the dollar price in banks
Geostrategy
Putin wants talks with Erdogan over Ukraine grain
The Kremlin said that President Vladimir Putin will discuss with Turkish President Recep Tayyip Erdogan a deal allowing grain exports...
- The agreement between Russia and Ukraine, brokered by Turkey and the United Nations, designated three ports to send grains through a Russian blockade.
- Putin claimed most consignments were arriving in Europe, not poor countries where grain was needed most.
Business
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...
- The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
- The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.
Geostrategy
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...
- ACCI Chairman highlighted investment opportunities in the real estate, building and construction sectors to the Russian delegation.
- The Chairman stressed Ajman Chamber's keenness to develop economic ties and attract investors to the emirate.
Economy
Germany’s third-largest gas importer seeks government aid
German gas company VNG on Friday became the latest European energy firm to seek government aid as reduced Russian pipeline...
- Russia has slowly dwindled supplies of gas to Europe in the wake of the invasion of Ukraine, sending prices for the fuel soaring.
- Uniper, Germany's biggest importer of Russian gas, asked for government support earlier this year under the pressure of rising gas prices.
Economy
EU ministers seek ways to face energy shock
Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with...
- The European Commission, the EU's executive, will ask the ministers meeting in Brussels to consider a series of highly complex proposals designed to ease the burden
- The main drive will be to find ways to compensate households and businesses that are struggling to pay their bills and keep activity going
Geostrategy
US sanctions Iranian company that shipped drones to Russia
The US Treasury said it had placed Tehran-based Safiran Airport Services on its sanctions blacklist, two months after the White...
- The Treasury said Safiran has coordinated Russian military flights between Iran and Russia, including those that carried the UAVs, personnel and related equipment
- The Treasury also placed sanctions on three Iranian companies involved in developing and producing drones and linked to the powerful Islamic Revolutionary Guard Corps
Economy
US launches Asia economic forum to counter China
The two-day event is the first face-to-face meeting between members of the new Indo-Pacific Economic Prosperity Framework (IPEF), an initiative...
- Trump's isolationist "America First" policy saw him yank the United States from the Asia-focused trade agreement called the Trans-Pacific Partnership
- Washington hopes to forge common standards throughout the region, but without promoting the access to its domestic market
Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
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OPEC sees no peak in global oil demand on the horizon
In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million...
Geostrategy
UAE to hold ‘Regional Cybersecurity Week’ to brainstorm plans to combat threats
Abu Dhabi, UAE--The UAE Cybersecurity Council will organise the Regional Cybersecurity Week 2023 from October 8-12, under the title "Cybersecurity...
Economy
Turkey set to realize long-term goal with bid to host Euro 2032
Turkey missed out to Germany for Euro 2024, with UEFA's evaluation of the bid highlighting concerns about the country's "lack...
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Business
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
- During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
- The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.
Economy
Saudi Arabia explores carbon capture, storage potential
“Achieving success in this area will benefit everyone and align with the goals of the Paris Climate Agreement,” he adds...
- The Kingdom can be a source of clean hydrogen and a producer/source of clean electricity, says Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud
- Saudi Arabia has adopted a comprehensive approach harnessing potential for renewable energy, hydrogen production, and electricity transmission, the minister adds
Economy
Minimum pension for Saudi social security beneficiaries up 20%
Riyadh, Saudi Arabia -- Saudi Arabia's King Salman bin Abdulaziz Al Saud Sunday issued directives on raising the basic minimum...
- The Citizen Account Program will remain in effect while adding certain factors to enhance support efficiency and ensure that benefits are received by the neediest groups.
- Registration will remain open for Citizen Account Program beneficiaries to get additional financial support for three months until December 2023.