China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Business
Kuwait raises oil production to meet growing demand
The increased production is consistent with announcements made by Kuwait Petroleum Corporation.
- The increased production is consistent with announcements made by Kuwait Petroleum Corporation
- Kuwaiti oil minister Dr Al Faris said that Kuwait will continue to support efforts to promote market stability
Economy
Saudi Arabia’s merchandise exports in June up 75 percent: GASTAT
Saudi Arabia’s merchandise exports during June 2022 increased by more than 75 percent to 148 billion riyals ($39.37 billion) compared...
- The non-oil exports (including re-exports) rose by 26.8 percent to 30 billion riyals in June 2022, compared to 24 billion riyals in June 2021.
- The kingdom’s merchandise imports during June 2022 amounted to 60 billion riyals, compared to 47 billion riyals during June 2021, an increase of 28.9 percent.
Economy
In blazing heat water taps run dry in southern Iraq
More than 3,300 families across 10 provinces in Iraq's center and south were displaced due to "climate factors" as of...
- Authorities blame drought for the current water shortages, but also dams built upstream on some rivers and tributaries in neighboring Turkey and Iran
- A report published this month by the International Organization for Migration in Iraq said that "climate migration is already a reality" in the country
Economy
China warns of ‘severe’ threat to harvest from worst heatwave on record
The world's second-largest economy has been hit by record temperatures, flash floods and droughts this summer -- phenomena that scientists...
- More than 1,500 people in the area surrounding Chongqing were evacuated on Monday after hot and dry conditions sparked multiple wildfires
- The national meteorological service renewed its warnings for drought and high temperatures on Tuesday
Economy
UAE stocks generate strong cash flows Tuesday
FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040.
- FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040
- The ADX-listed ADNOC Distribution was among big gainers, ending 1.09 percent higher at AED4.620, followed by ADNOC Drilling which closed 0.28 percent up at AED3.620
Economy
Jordan government committed to public-private engagement
The government is committed to expanding the management consulting services sector's participation in enhancing industrial production processes and facilitating access...
- Jordan's government views its partnership with the private sector as a cornerstone to achieve economic and social development
- The ministry of industry, trade and supply's consulting council was established to formulate economic policy and legislation
Economy
Two new solar projects to double Qatar’s renewable energy output
Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...
- The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
- South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Business
Aldar says it recirculated $2.39bn into UAE economy through ICV
Aldar Properties said Tuesday that it has recirculated AED8.8 billion ($2.39 billion) to the local economy through In-Country Value (ICV)...
- The ICV aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
- In its sustainability report, Aldar said that Aldar Projects also signed development project contracts worth AED8.5 billion, including 16 contracts with UAE-based companies.
Business
Sharjah records 2,417 real estate transactions in July 2022
Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions...
- The department's statistics reveal that Muwaileh Commercial area had the highest number of sales transactions in Sharjah,
- SRERD monthly report showed that sales transactions were recorded at 24.3 percent
Business
EGA H1 2022 profit $1.61bn
Cast metal sales rose 11% compared to H1 2021.
- EGA noted this is its best ever half yearly performance as the first half of 2022 exceeded the net profit of entire 2021.
- EGA's adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $2.07billion in H1 2022.
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
Economy
Company News
Latest News
DIB H1 2023 net profit $844m Â
Business
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
Geostrategy
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...
Business
Most Read
Economy
UAE to generate 19.8 gigawatts of clean energy by 2030: Al Mazrouei
Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister...
- The minister informed the audience at ADIPEC 2023 that the UAE intends to work towards producing 1.4 million metric tonnes of low-carbon hydrogen per annum by 2031
- He told a global audience of energy leaders at the opening of the event in Abu Dhabi that an International collaboration is crucial to addressing energy challenges
Economy
Knowledge, innovation drive UAE’s economic strategy
"Today, the UAE is recognized as a leader in new economy sectors, including renewable energy, fintech, artificial intelligence, the fourth...
- The UAE makes significant strides in building a new economic model rooted in knowledge, innovation, and creativity, diversifying economy and boosting global competitiveness
- Today, the UAE is recognized as a leader in new economy sectors, including renewable energy, fintech, artificial intelligence, and space, says minister Abdulla bin Touq Al Marri
Geostrategy
Oil industry is an integral part of climate solutions, says COP28 head
President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
- The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
- He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,