UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking
The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy
Geostrategy
Spain PM hopes Europe gas pipeline will soon be ready
Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through...
- Russia has reduced deliveries and nations are scrambling for supplies to avoid a possible shortage this winter, while prices for gas and electricity have soared
- Spain currently has six liquefied natural gas (LNG) terminals for processing deliveries made by huge sea tankers back into gas and injecting them into its pipeline network
Business
Iraq to build four free-trade zones, two along Jordan and Saudi borders
Iraq plans to establish free-trade zones adjacent to Baghdad and Najaf airports and another one near the Iraqi-Jordanian border, which...
- Two free zones will be established adjacent to Baghdad and Najaf airports, says Iraq’s Free-Trade Zone Authority
- All the factors necessary for the success of the free industrial, commercial or multi-activity zones exist in the country, it adds
Economy
DEWA alert service reduce 217,370 tons of carbon emissions
Dubai Electricity and Water Authority (DEWA) has announced that its High-Water Usage Alert service has helped to reduce 217,370 tons...
- DEWA's High-Water Usage Alert service sends instant notifications to customers to quickly conduct necessary maintenance to reduce wastage
- These alert services helped identify 1,062,781 water leakage reports, 23,199 defects, and 11,566 cases of increased load
Economy
Net zero, Russia war driving nascent hydrogen economy
Green hydrogen is in sharp focus as governments seek to slash carbon emissions amid record-high temperatures and to safeguard energy...
- In Birmingham, central England, it costs about £50 ($60) to fill Kendall's Toyota Mirai with the green hydrogen that is produced at a plant next to the refuelling station
- Britain's government says £9 billion of investment is needed "to make hydrogen a cornerstone of the UK's greener future" as it targets net zero carbon emissions by mid-century
Geostrategy
Iraq, US discuss efforts to combat money laundering, terror funding
The Governor of the Central Bank, Mustafa Ghalib, received the US Ambassador to Iraq, Alina Romanowski, and her accompanying delegation.
- The Governor of the Central Bank, Mustafa Ghalib, received the US Ambassador to Iraq, Alina Romanowski, and her accompanying delegation
- Ghalib reviewed the efforts of the Central Bank to support development through monetary policy means and the direct impact of its initiatives
QSE-listed companies hit $7bn net profit
This amounts to an increase of 29% over last year.
- All of Qatar Stock Exchange listed companies have disclosed their financial results for the six month period ended June 30, 2022
- The QSE is a full member of the World Federation of Exchanges and was recently upgraded by the MSCI and the S&P Dow Jones Indices
Economy
Oil prices fall on potential Iran deal, as China economy falters
A deal would mean that Iran's crude output of 2.5 million barrels per day would no longer be subject to...
- Oil prices fell Monday on the prospects of a return of Iranian oil to the market and data showing China's economic recovery stuttering
- Stock markets were broadly steady and the dollar traded mixed as investors digested the latest developments
Business
Global business travel won’t see full recovery until 2026: report
The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18...
- recovery was "short-circuited" in late 2021 and early 2022 by the Omicron variant of Covid-19, but that trips surged after that once Covid cases fell
- Major obstacles to a full recovery include high energy prices, labor shortages, Covid lockdowns, regional impacts due to the war in Ukraine and sustainability concerns
Economy
Germans face big energy levy but government vows aid
The charge has been set at 2.419 cents per kilowatt hour, said Trading Hub Europe, a non-profit company of energy...
- The charge has been set at 2.419 cents per kilowatt hour, said Trading Hub Europe, a non-profit company of energy network operators in Germany
- For a family of four with an annual average energy usage of 20,000 kwh, this would come to about $493.70 before goods and services taxes
Economy
Dar Al Ber spends over $57m on charitable projects in UAE, worldwide
The number of projects inside the UAE and in several regions around the world has reached 22,517.
- The number of projects inside the UAE and in several regions around the world has reached 22,517
- Dar Al Ber also implemented seasonal projects in 37 countries in Asia, Africa and Europe
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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
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
Company News
SALIC buys 10.7% stake in BRF
Business
Latest News
Innovation steers Middle East through tourism swings
Facing tourism seasonality challenges, the region diversifies offerings, enhances infrastructure, and collaborates, for year-round success despite temperature fluctuations.
Economy
France warns Lebanon financial aid at risk over presidency deadlock
French President Emmanuel Macron's special envoy urged Lebanese factions to find a "third way" for electing a new president, warning...
Geostrategy
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Geostrategy
China grants Approved Destination Status to Saudi Arabia
RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom. The bilateral agreement, signed...
- The bilateral pact allows Chinese citizens to travel to Saudi Arabia in group tours in addition to facilitating greater ease of access.
- ADS will drive greater connectivity between Saudi Arabia and China and unlock new opportunities across the tourism ecosystem.
Economy
Non-oil sector to drive UAE economic growth to 3% in 2023: S&P
S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is...
- Analysts expect the UAE banking sector to remain robust, with profitability improving beyond pre-pandemic levels due to rising interest rates.
- Banking sector's profitability is expected to improve and exceed pre-pandemic levels due to rising interest rates and technological advancements.
Business
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.
- This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
- Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.