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
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Business
OPEC revises oil demand projection to 3.1mn barrels a day
The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC...
- The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals,” says OPEC secretary general
- He predicted a slowdown in demand growth in 2023 but said it should not be worse than what has already been experienced in the last two years
Geostrategy
Israel planning renewable energy projects in MENA region
The companies are also developing projects in Morocco, the UAE and Bahrain, along with Egypt and Jordan.
- The companies are also developing projects in Morocco, the UAE and Bahrain, along with Egypt and Jordan
- The plans follow two years after Israel normalized relations with the UAE, Bahrain and Morocco. Israel also signed a Free Trade Agreement with the UAE
Business
Qatar buses feel the World Cup heat in tournament test
Getting the football hordes around the city and between the eight stadiums promises to be one of the biggest challenges....
- With more than one million people expected to descend on the tiny Gulf state for the tournament, the government is taking no chances with their multi-billion dollar preparations
- Amid sweltering summer heat, hundreds of air conditioned but mainly empty buses went out to stadiums, metro stations and pickup points
Opinion
Goal: A just energy transition that’s equitable to all
It must be based on scientific, economic, and engineering facts, appreciate the multiple dilemmas and challenging trade-offs, and accelerate the...
- Record growth in renewables, representing over 80 percent of all new power-generating capacity last year, is the clearest sign yet that the energy transition is gathering pace
- Policies aimed at divesting from hydrocarbons too soon, without adequate viable alternatives, are self-defeating. They will undermine energy security, erode economic stability
Business
Russian gas supply cut: Germany to fall short of gas reserve target
Germany is heavily dependent on Russian gas and has seen deliveries drop sharply amid tensions over the Ukraine war.
- Warning of looming shortages, Economy Minister Habeck outlined a series of targets last month for gas stocks to reach 95% by November 1.
- "I am not counting on our achieving our next reserve goals as quickly as the first," said Klaus Mueller, president of the Federal Network Agency.
Economy
Arab economies expected to grow by average 5.4 percent in 2022 : AMF
Oil-exporting countries in the Arab World will benefit throughout 2022 from the increased oil production quantities within the "OPEC+" agreement...
- Arab countries are expected to face relatively high inflation rates in 2022 due to a rise in food and energy prices and escalating inflationary pressures.
- The oil-importing Arab countries are expected to achieve a moderate 4.1 percent growth rate in 2022, compared to 2.7 percent in 2021.
Business
‘RAK aims to increase number of hotel rooms in 5 years’
CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA) Raki Phillips said that the emirate’s tourism sector aims to...
- Ras Al Khaimah plans to increase the number of hotel rooms in the emirate over the next five years to 12,747 rooms
- The rooms would be provided by over 50 hotels and resorts that offer the highest levels of service to visitors
Economy
UAE announces new incentives to support emirati SMEs
The new incentives include classifying up to five enterprises under Tier 1 category per owner, instead of two enterprises, and...
- The enterprises that will benefit from the new incentives have to be members of accredited funds and programs that support SMEs in the UAE.
- Empowering SMEs is a strategic priority within the nation’s continuous efforts to develop the business sector in the UAE, said Khalil Al Khoori, an HR official.
Business
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...
- The meeting between DG of Ajman Chamber and Mexican ambassador took place as part of the Chamber's efforts to diversify its external partnerships
- The two sides discussed economic cooperation and explored trade and investment opportunities between the two countries
Economy
Global equities tumble as British inflation hits new 40-year high
Investors remain on edge as central banks hike interest rates to fight runaway inflation, but the monetary policy tightening could...
- US retail sales flatlined at $682.8 billion in July as gasoline prices retreated from record levels while American consumers boosted spending
- The Bank of England warned earlier this month that UK inflation would climb to just above 13 percent this year, which would be the highest level since 1980
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
Company News
Latest News
Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...
Geostrategy
Saudi Arabia’s consumer spending up 8% to reach $30bn in Aug
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia grew 8 percent to SAR 115.4 billion ($30.76 billion) in August 2023, from...
Business
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
Business
Most Read
Geostrategy
Congress passes bill, averting US government shutdown
Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had...
- Tonight, bipartisan majorities in the House and Senate voted to keep the government open, US President Joe Biden said
- Biden berated McCarthy and the House Republicans for reneging on spending levels agreed with the White House months ago
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
- The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
- The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Economy
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...
- Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
- A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds