‘Starvation tactics’ being used against 25 million people in Sudan
UN experts on Thursday accused the two sides in Sudan's civil war of using "starvation tactics" against 25 million civilians,...
Oil prices at risk of further increases due to potential energy disruptions
Crude oil prices soared nearly 9% last week, marking the biggest weekly gain since March 2023, following a significant escalation...
Economy
Economy
Countries growing 70% of world’s food face ‘extreme’ heat risk by 2045
Climate change is already stoking heatwaves and other extreme weather events across the world, with hot spells from India to...
- Heat stress already poses an "extreme risk" to agriculture in 20 countries, including agricultural giant India
- Rice is particularly at risk with other crops like cocoa and even tomatoes also singled out as of concern
Economy
Digitalization helps GCC realize decarbonization goals
Firms in the region are increasingly augmenting their focus on operational transformation with new approaches to manage and optimize energy...
- Enterprises in the region are increasingly augmenting their focus on operational transformation with new approaches to manage and optimize energy consumption, says an expert
- The Gulf states are seeking to place themselves on a more environmentally sustainable footing through investment in renewable energy, says Ashraf Yehia of Eaton Middle East
Economy
Oil and gas sector fuels demand for industrial space in Dubai
Ecommerce operators, who have seen an acceleration in activity post the onset of the pandemic, have further expanded their operations.
- Ecommerce operators, who have seen an acceleration in activity post the onset of the pandemic, have further expanded their operations
- Demand during H1 2022 was primarily concentrated across traditional hotspots such as Dubai South, JAFZA and National Industries Park
Economy
Saudi GDP surges 12.2% in Q2, surpassing estimate
The real gross domestic product (GDP) of Saudi Arabia has jumped 12.2 percent in the second quarter of 2022, exceeding...
- The oil economy grew 4.4 percent in the second quarter from the first quarter
- Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter
Economy
China export growth slows sharply in August: official data
Last month, China's exports expanded 7.1 percent year-on-year, down from 18 percent growth in July, China's General Administration of Customs...
- The slowdown in trade comes as global demand for Chinese products weakens with energy prices soaring and the United States facing the threat of recession
- Sporadic Covid-19 lockdowns around China have also dampened consumer enthusiasm and business confidence
Economy
UAE meets 42% of Japan’s crude oil needs in July
Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab...
- Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab countries
- Saudi Arabia contributed 28.47 million barrels, which is 35.1 percent of the Japanese crude needs
Geostrategy
Saudi delegation visits Jordan’s Petra to enhance cooperation
A delegation from Saudi Arabia's Royal Commission for AlUla (RCU) visited Petra on Tuesday to advance cooperation between the two...
- PDTRA Chairman briefed the Saudi delegation on the authority's efforts to develop tourism in Petra.
- The delegation toured the rose-red city and looked firsthand at the Petra By Night program, the flying taxi and other projects.
Economy
Oman issues Treasury Bills worth $103 million for 91 days
Muscat, Oman---The government of Oman issued Treasury Bills worth Omani Riyal 40 million (US$103 million) for a period of 91...
- The average accepted price reached RO 99.419 for every RO 100, and the minimum accepted price arrived at RO 99.270 per RO 100.
- Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance.
Market Report
Stocks push higher, but yen and euro under pressure
European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain...
- European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation.
- Frankfurt rebounded somewhat despite news that Germany's industrial orders slumped for the sixth consecutive month in July.
Economy
ADJD notarization, authentication transactions jump in August
The Abu Dhabi Judicial Department (ADJD) has achieved a record surge in total notarization and authentication transactions carried out in...
- There were 13,000 notarization and authentication transactions operations in August.
- The availability of multiple electronic options for submitting and completing transactions remotely helped in the increase.
‘Starvation tactics’ being used against 25 million people in Sudan
UN experts on Thursday accused the two sides in Sudan's civil war of using "starvation tactics" against 25 million civilians,...
Company News
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Ooredoo Algeria gets new CEO
Business
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...
Economy
Hotels in UAE generate revenues of US$7bn in first seven months, says minister
ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
Business
Saudi Arabia and South Korea pledge to ramp up ties in various fields
Riyadh, Saudi Arabia-- Saudi Arabia and South Korea have pledged to strengthen cooperation in various fields. According to a press...
Economy
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Economy
Putin launches Russian gas shipments to Uzbekistan
"This is the largest trilateral energy project" between the three ex-Soviet countries, Putin said, after formally launching the shipment. He...
- Despite being home to a wealth of natural resources including gas, the Central Asian country of Uzbekistan has faced energy shortages
- Moscow meanwhile relies heavily on energy revenues but has seen export plummet amid since the  offensive
Business
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
- Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
- It also addressed all queries from participating companies and shared insights into the department's systems in this context.
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.