Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
Economy
Economy
Saudi non-oil economy shows improvement in June: S&P Global
Saudi Arabia's non-oil economy has recorded a strong improvement in business conditions in June, according to the latest Purchasing Managers...
- Business has grown at the sharpest rate for eight months, despite evidence that intensifying cost pressures had led companies to mark up their prices
- At the same time, the report conveyed Saudi Arabia’s rapidly rising costs, an increase in the prices of raw materials and fuel
Economy
UAE Minister discusses development of fisheries sector
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri held a meeting with the heads of fishermen's...
- The minister met with groups of fishermen and heads of fishermen's associations
- She discussed challenges, opportunities and development in the UAE's fisheries sector
Business
Dubai Chambers holds meet to enhance its role in economy
Chairman of Dubai Chambers met with heads and members of business groups to discuss new ways the Chamber can enhance...
- Dubai Chambers discuss new ways to strengthen public-private sector partnerships
- It discusses different ways the Chamber can enhance its role in the emirate’s economy
Business
‘Jordan’s industries have potential to access Algerian market’
Jordan's industrial goods have a great opportunity to gain a foothold in the Algerian market, president of the Jordan and...
- Leather, textile, medical supplies, chemicals, food, agricultural and livestock industries can access the Algerian market
- There is a need for opening a direct maritime transport route between Jordan and Algeria
Economy
UAE to announce 3,000 housing loan beneficiaries during 2022
UAE will announce 3,000 beneficiaries of housing loans during 2022, taking 500 housing decisions per month that will announce the...
- The new policy includes 500 decisions worth AED400 million, according to Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.
- A total of 500 decisions on housing loans will be taken per month.
Business
ADDED, GE Digital to fast-track digital shift in Abu Dhabi’s manufacturing sector
ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative...
- ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative sector.”
- The UAE’s manufacturing sector plays a pivotal role in the diversification of the national economy, with Abu Dhabi accounting for 40 percent of that
Economy
Tunisia struggles to grow more wheat to prevent food shortage
Tunisian farmer Mondher Mathali surveys a sea of swaying golden wheat and revs his combine harvester, a rumbling beast from...
- The small North African country, like its neighbors, is desperate to prevent food shortages and social unrest
- Tunisia's wheat production has suffered from years of drought and a decade of political instability
Economy
Jordan, Japan ink pact to build AI ecosystem in Jordan
The two parties agreed on the general framework of the project in addition to a draft record of discussions and...
- The two parties agreed on the general framework of the project in addition to a draft record of discussions and the structure of the initial implementation
- The pact is in line with the objectives of the Jordanian Artificial Intelligence Policy seeks to adapt, deal and harness AI to serve the Jordanian economy
Economy
China and US discuss global economic challenges, supply chains
Top officials from the United States and China held a "candid" video call on Tuesday to discuss global economic challenges,...
- The world's two biggest economies are also grappling with Covid-snarled supply chains and rising global energy prices
- The Xinhua report said the video call took place at the request of the United States, and described the conversation as "constructive"
Business
Mecca businesses see hajj boom ending pandemic slump
Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of...
- Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of Mecca
- Haj and Umrah generate about $12 billion (11.5 billion euros) annually, keeping the economy humming in Mecca
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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
Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
Economy
Company News
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UAE’s financial wealth to reach $1.3trn by 2027
Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth...
Economy
UAE economic expansion to continue, after posting 3.8% growth in Q1: OPEC
Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in...
Economy
WTO says era of de-globalization is closer than it appears
Geneva, Switzerland - The de-globalization of international trade is far from being a reality, but "the first signs of fragmentation" are...
Business
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Geostrategy
Building less, repurposing more key to low construction sector emissions
The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
- Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
- Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.
Business
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
- The industrial membership in the Ajman Chamber grew by 6.9 percent during the first half of this year compared to the first half of 2022.
- The Ajman Chamber is keen to attract specialized investments in modern industries based on technology and artificial intelligence.
Business
Saudi capital market institutions employ 5,524 by second quarter end: CMA
Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the...
- Males accounted for 80 percent of the employees at capital market institutions, with 4,400 employees, while the number of females stood at 1,124.
- Meanwhile, the Saudization rate at these institutions reached 75 percent by the end of Q2, from 77 percent in Q1, according to the Capital Market Institutions Report.