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
The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts. In a recent interview on CNBC, Kashkari, who serves...
Economy
Economy
China urges lenders to extend credit to property sector
China's banking regulator has urged lenders to extend more credit to real estate developers, as a growing number of homebuyers...
- The consumer mortgage boycott has worsened fears of financial contagion in the country's troubled real estate sector
- Furious at postponed deliveries of pre-sold homes, homebuyers have halted payments for already sold units in at least 100 residential projects
Economy
Jordan to achieve women-based legislative justice: Minister
International Labor Organization (ILO) estimated that the gender gap in labor force participation in Jordan has led to a loss...
- International Labor Organization (ILO) estimated that the gender gap in labor force participation in Jordan has led to a loss of $8 billion in the value of GDP in 2018
- UNICEF estimated that increase in women’s participation in the Jordanian labor force by 25% over the next seven years will help Jordan's GDP grow by 5% annually
Business
Capacity of DEWA IPP projects exceeds 4,000 MW
IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects.
- IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
- DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices
Interview
PPP projects inject more vigor into Saudi healthcare
The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare...
- The Kingdom is seeing a rise in private investment in the industry with multiple forthcoming healthcare PPP projects
- Improving access to quality healthcare and building a world-class infrastructure are crucial pillars of Saudi Arabia's Vision 2030
Videos
Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.
- Dubai has one of world’s most competitive real estate markets. Rents have increased dramatically in the emirate: In May, the average monthly apartment rent was $7,500.
- Real estate is an important part of the UAE’s economy, responsible for around 5 percent of the gross domestic product.
Economy
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...
- With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
- Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Geostrategy
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...
- The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
- Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Geostrategy
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...
- Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
- Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
Geostrategy
EU to discuss imposing harsher sanctions against Russia
The European Union will discuss tightening sanctions against Russia on Monday, as Moscow is accused of using the continent's largest...
- Brussels is expected to hold initial sanctions discussions Monday as Moscow is accused of using the continent's largest nuclear power plant
- With the conflict grinding on and increasingly spilling out into global energy and food crises, the EU's foreign ministers are considering banning gold purchases from Russia
Economy
Iraq launches drive to preserve national icon: date palms
Thousands of young date palms, Iraq's national symbol, form lines that extend from the edge of the desert near the...
- Iraq's prized trees are central to a push aimed to preserve a long-threatened ancestral culture
- The number of palm trees in the area has fallen from six million, before the Iraq-Iran war, to less than three million today
Most Read
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
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
Company News
Latest News
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
Business
Israeli PM Netanyahu to meet Elon Musk during US visit
Benjamin Netanyahu announced his meeting with Elon Musk through a post and told that they will discuss artificial intelligence. The...
Business
Oman annual inflation inches up 0.82 percent in August
Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month...
Economy
Most Read
Economy
Surplus in overall balance makes UAE’s economy robust
"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing...
- The UAE's robust fiscal performance and diversified government revenues showcase an efficient fiscal policy
- In 2022, there was a recorded 31.8 percent year-on-year growth in revenues, and a 6.1 percent rise in expenditures
Economy
Climate action an opportunity to create more equitable world: Almheiri
Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri,...
- The minister said the UAE believes that science, innovation and technology are the tools humanity needs to drive collective progress on climate action
- Almheiri asserted that COP28 is a chance to turn the world’s collective focus to conclude the first Global Stocktake of the Paris Agreement
Geostrategy
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
- Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
- The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.