Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...
Economy
Economy
Abu Dhabi Maritime to sponsor Abu Dhabi International Boat Show
The Abu Dhabi International Boat Show (ADIBS), organized by the Abu Dhabi National Exhibitions Company (ADNEC), has entered into a...
- Abu Dhabi Maritime has a mandate to implement effective maritime services and state-of-the-art infrastructure
- The fourth edition of Abu Dhabi International Boat Show will take place this year from November 24 to 27.
Economy
‘Inflation a concern, equity markets favorable in GCC region’
A survey in the GCC region reveals that almost all the respondents believe that rising inflation will impact their cost...
- A survey in the GCC region reveals that people believe inflation will impact their cost of living by at least 10 percent
- Over 66 percent of the respondents said that they continue to view equity markets favorably
Economy
Over 30,000 visitors attend Al Dhaid Date Festival in Sharjah
The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days...
- The Al Dhaid Date Festival drew over 30,000 visitors who explored and learnt about the best and finest types of dates
- Sharjah Chamber of Commerce and Industry says it will spare no effort to promote and preserve the historical status of palm trees
Economy
Saudi Arabia’s overall exports in May 2022 was US$38.5bn
The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the...
- Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021
- The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022
Business
Russia assures Egypt of providing grains as per order
Russia's top diplomat reassured Egyptian leaders Sunday that their orders for Russian grain would be met as he began a...
- Foreign Minister Lavrov said that Russian exporters of cereals will fulfil their orders and provide grains to Egypt and other countries
- Lavrov's visit comes hot on the heels of a landmark deal Russia and Ukraine signed on Friday with the United Nations and Turkey
Economy
Dubai most expensive city in Arab world
Mercer’s 2022 Cost of Living City Ranking ranks the emirate the 31st most expensive city in the world.
- Mercer survey is aimed at providing employers data to help them navigate compensation strategies for their mobile employees in the world.
- Urkaine conflict, rising inflation and volatility of markets has affected the cost of living for most of the people in the world.
Economy
Dubai to provide 2,000 residential plots at Umm Nahad Fourth
The Higher Committee for Development and Citizens Affairs, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince...
- The Higher Committee for Development and Citizens Affairs approved immediate allocation of 2,000 residential plots at Umm Nahad Fourth area
- The step comes as part of the Housing Program for Dubai Citizens to meet the requirements and needs of Emirati families
Business
Center to combat financial fraud inaugurated in Saudi Arabia
A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers...
- The center brings together all Saudi banks under one roof to improve the customer experience and tackle confirmed cases of financial fraud.
- The Center’s establishment came from from the Saudi Central Bank’s support for the stability of the banking sector, said SAMA governor.
Economy
DEWA says 287 11kV substations commissioned in H1 2022
Dubai Electricity and Water Authority (DEWA) has commissioned 287 11kV substations in Dubai in the first half of 2022. This...
- These 287 11kV substations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf and Burj Khalifa areas
- Building these substations included 177,875 working hours as per the highest quality, efficiency and safety standard
Economy
US Fed looks to hike interest rate to douse runaway inflation
US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the...
- The Fed holds its two-day policy meeting next week, where it is expected to hike the benchmark borrowing rate on Wednesday by another three-quarters of a percentage point
- Officials have said the US economy is strong enough to withstand higher rates without a serious downturn, but others say they are overly optimistic
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Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
Company News
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RAKEZ team wraps up roadshow to boost trade in China’s Guangdong province
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ), led by Group CEO Ramy Jallad,...
Geostrategy
Syria’s Bashar Al-Assad visits China seeking funds
China becomes one of only a handful of countries outside the Middle East that Assad has visited since the 2011...
GCC countries hold interest rates following US Fed decision
Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...
Economy
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Business
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
- The theme of the event is “Partnership for a Promising Economic Future”, and is expected to present multiple investment opportunities.
- The Chamber hopes the event starts new wave of economic, trade, and industrial relations between the GCC countries and Iraq.
Geostrategy
Belt and Road Initiative countries expect more cooperation ahead of China-Arab expo
YINCHUAN, CHINA - In the run-up to the sixth China-Arab States Expo, guests from countries and regions along the Belt...
- Morocco was the first country in North Africa to sign the Belt and Road cooperation document with China.
- Since then, the two countries have maintained close political, economic, and cultural connections.
Economy
AI and LLMs poised to transform global job landscape
About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...
- About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World Economic Forum's 'Future of Jobs Report 2023'
- Jobs like Credit Authorizers, Management Analysts, and Telemarketers face high automation risks, while Insurance Underwriters and Bioengineers offer brighter future