UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
Economy
Iraqis grow weary of squabbling political parties
Iraq has been ravaged by decades of conflict and endemic corruption. It is blighted by ailing infrastructure, power cuts and...
- Political deadlock has left Iraq without a new government, president or prime minister following general elections 10 months ago
- Coordination Framework says it wants a new government as quickly as possible, and its supporters on Friday began their own sit-in to press for that demand
Economy
Droughts exact heavy cost on Morocco
Water shortage has dealt a crippling blow to farming in the North African country as successive droughts exact a heavy...
- Water shortage is not limited to a few scattered villages but the whole North African country has been hit
- According to WHO, at 600 cubic meters of water annually per capita, Morocco is already well below the water scarcity threshold of 1,700 cubic meters per capita per year
Economy
Saudi banks disburse $537bn in loans in Q2, up by 14.2%
According to the Kingdom’s Unified National Platform, the Kingdom has been moving toward the Saudi Vision 2030 by developing the...
- The SAMA data showed that the value of Saudi banks’ aggregate loan portfolio totaled $537 billion at the end of the second quarter of 2022
- According to the Kingdom’s Unified National Platform, the Kingdom has been moving toward the Saudi Vision 2030 by developing the trade sector and ensuring its sustainability
Economy
US Fed decisions may effect UAE’s inflation scene
The dollar's first-quarter increase of about 10% against a basket of international currencies may reduce the impact of imported inflation...
- The dollar's first-quarter increase of about 10% against a basket of international currencies may reduce the impact of imported inflation due to dirham's peg to the US currency
- Inflation has affected many sectors in the UAE where there is less freedom in price-fixing, says Wael Makarem, Senior Market Strategist - MENA at Exness
Economy
Jordan industries’ use 24m cubic feet gas daily in 2021
The average natural gas consumption for Jordan's industries amounted to 24 million cubic feet (CF) per day during 2021, according...
- Gas production from Risha Field, eastern Jordan, reached about 6,510 million cubic feet during 2021 at a daily rate of 17.8 million cubic feet
- The capacity of Risha Field has been raised to about 32 million cubic feet per day, as Risha Wells 53, 51, 50 have entered production in 2021
Geostrategy
Jordan, Morocco to launch hospitality training facility
A Jordanian-Moroccan hospitality and tourism training project will be launched in the Hashemite Kingdom as part of the strategic partnership...
- The Moroccan ambassador stressed on Jordan's pivotal role in joint Arab efforts and regional issues.
- The envoy stressed on the partnerships between Jordan and Morocco in tourism, agriculture, renewable energy
Geostrategy
President invites Swiss President to visit the UAE
President of the Swiss Confederation Ignazio Cassis, has received a written message from President Sheikh Mohamed bin Zayed Al Nahyan...
- The UAE is keen on strengthening bilateral relations with Switzerland
- Sheikh Abdullah has delivered the written message of the UAE President to the Swiss President
Geostrategy
US to boost Taiwan trade, conduct air, sea transits
A new trade plan will be unveiled within days, while US forces will transit the Taiwan Strait in the next...
- Taiwan has accused China of using the visit by Pelosi as an excuse to kickstart drills that Taipei called that Taipei called a rehearsal for invasion
- In response to China's drills, the United States is reasserting its involvement in the area, while reiterating its policy of "strategic ambiguity."
Economy
UAE aid ship in Mogadishu to deliver drought relief
This initiative comes as part of the directives of the UAE President to provide humanitarian support to the Somali people...
- The initiative comes as part of the directives of the UAE President to provide humanitarian support to the Somali people
- Authorities distributed relief aid to families and those displaced in their areas and camps
Economy
Saudi Arabia allows holders of all types of visas to perform Umrah
The ministry stated that those who qualify to perform Umrah also include holders of US, UK and Schengen visas
- The ministry stated that those who qualify to perform Umrah also include holders of US, UK and Schengen visas.
- The system allows people to obtain a tourist visa, valid for a period of 12 months, upon arrival at one of the Saudi airports
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UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
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ADNOC Gas signs deal with IOCL
Business
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Iran’s exports of agriculture products climb up 10% to US$1.62bn
Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of...
Business
‘Saudi Arabia committed to peaceful nuclear energy’
"The Kingdom underscores the need for collective international efforts to enforce the provisions of the Non-Proliferation Treaty and ensure its...
Economy
Saudi Arabia launches new TV channel to highlight ‘rapid progress’
Riyadh, Saudi Arabia-- Saudi Broadcasting Authority (SBA) has launched a new TV channel called Saudia Alaan (Saudi Now) to highlight...
Geostrategy
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Business
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
- The issue date of these bills is September 27 2023 and the maturity date is December 27 2023.
Business
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
- Setting accounting standards for Islamic finance institutions helps support the growth of the industry.
- Maintaining the Islamic financial industry's achievements requires focusing on capacity building.
Business
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
- The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
- The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.