MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...
Business
‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...
Economy
Economy
GCC govts lend roof to residents via interest-free loans
The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are...
- Many GCC countries provide interest-free home loans to their residents to strengthen their family conditions and provide adequate living space
- Loans granted by GCC govts to residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.
Economy
Free trade pact with UAE will help Indonesia, says envoy
The Comprehensive Economic Partnership Agreement (CEPA) signed between Indonesia and the UAE on Friday will bring economic prosperity to a...
- The trade pact is expected to boost imports of petrochemicals from the UAE to Indonesia
- Indonesia imports around two million tonne of petrochemicals annually from the global market
Economy
Abu Dhabi Industrial Strategy to boost growth, says Dr Al Jaber
UAE Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber said the country continues to empower the...
- UAE empowers the industrial sector and increase its competitiveness by leveraging its resources, advantages and capabilities
- The strategy will support national industrial growth, nurture and empower Emirati talent, create a smart circular economy
Economy
‘Industrial sector a key player in Abu Dhabi’s economy’
Industrial sector performs key role in Abu Dhabi’s economy and a new industrial financing entity will soon be established for...
- ADDED chairman says a new industrial financing entity will soon be established for large industries and SMEs
- He said initiatives such as reducing electricity, water and gas tariffs have been launched to attract investments
Business
Abu Dhabi to set up industrial financing entity: Chairman ADDED
A new industrial financing entity will soon be established in Abu Dhabi to finance large industries and small and medium-sized...
- The entity will finance large industries and SMEs as industrial financing requires the establishment of new frameworks, Al Hammadi said.
- Abu Dhabi's industrial sector contributed about AED 83.5 billion to the emirate's GDP in 2021.
Economy
Europe revives Syria phosphate imports, profiting Russian firm
Syrian phosphates used for fertiliser are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus...
- The regime in Syria has since 2015 been heavily backed by Russia in its long-running civil war
- The trade is growing fast as the war in Ukraine drives up fertiliser and phosphate prices
Economy
Online platforms help GCC reduce local unemployment
Many Gulf countries have set up electronic platforms to localize government and private sector jobs to reduce the national unemployment...
- Many Gulf countries have set up electronic platforms to localize govt and private sector jobs to deal with national unemployment.
- These platforms provide residents with quick and accessible electronic services for applying for government and private sector jobs.
Economy
US price increases held steady, consumer spending growth down: Report
The world's largest economy has been battered for months by a cresting inflation wave, made more painful by the surge...
- The personal consumption expenditures (PCE) price index rose 6.3 percent compared to May 2021.
- Excluding volatile food and energy prices, PCE rose 0.3 percent in the month, the same as in April.
Economy
UAE, South Korea ink pact to support entrepreneurs, SMEs
The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs. During...
- The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs
- During the 11-month program, the two sides will discuss and cooperate in entrepreneurship and SME development
Geostrategy
‘Effective steps needed to tackle situation due to Ukraine crisis’
Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...
- Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains
- The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995
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MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...
Business
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Investigation
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Saudi Catering, RSG ink pacts
Business
UAE president discusses boosting ties with president of Nigeria
Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral...
Economy
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Videos
Middle East sets global standards in renewable energy
This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green...
- This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green hydrogen, catalyzing a global clean energy shift
- By 2030, solar energy is expected to make up 15 percent of the Middle East's power mix, while new wind projects in Oman, Egypt, and Saudi Arabia will generate local jobs
Economy
Saudi Industrial Production Index falls third month in a row
Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) fell for the third month in a row, declining by...
- Saudi IPI retreated to 122.03 points in July, according to the base year 2010, compared to 135.23 points in the year-ago period.
- The decline in IPI is the largest since April 2021, when it recorded a drop of 24 percent.
Economy
Russia to cancel tourist visas to four Gulf countries
Speaking at the Eastern Economic Forum (EEF), Russia's Minister of Economic Development Maxim Reshetnikov said that his country has offered...
- He said the countries of the Middle East and Southeast Asia are among those "with which we interact"
- The minister added, "this is where incremental growth of premium class tourists is possible in particular"