Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...
Economy
A million pilgrims arrive in Mecca for Hajj, first since pandemic
White-robed worshippers from across the world have packed the streets of Mecca as Islam's holiest city prepares to host the...
- At least 650,000 overseas pilgrims have arrived so far in Saudi Arabia, the authorities said Sunday
- One million vaccinated pilgrims under the age of 65 will attend the hajj under strict sanitary conditions
Economy
Shark kills 1 Austrian, 1 Romanian tourist in Egypt’s Red Sea
Two women, one Austrian and the other Romanian, were killed in a shark attack this week off the coast of...
- The Red Sea is a popular tourist destination, where sharks are common but rarely attack people swimming within authorised limits
- In 2018, a Czech tourist was killed by a shark off a Red Sea beach and a similar attack killed a German tourist in 2015
Economy
Jordan’s GDP grows 2.5 percent in Q1, hospitality sector biggest gainer
Jordan's Gross Domestic Product (GDP) at constant market prices grew by 2.5 percent in quarter one of 2022, compared to...
- The Department of Statistics (DoS) of Jordan said economic sectors rose in quarter one of the current year.
- Hotels and restaurants sector came first with 6.8 percent, followed by construction sector with 5.3 percent.
Economy
Iraq’s June crude oil export revenue $11 billion: Ministry
Iraq received in excess of $11 billion as revenue for crude oil export in June, the Ministry of Oil said....
- Crude oil export in June from oil fields in central and southern Iraq amounted to (97) million (980) thousand and (589) barrels.
- Total exported quantities from Kirkuk fields through Ceyhan port amounted to one million (910) thousand and (887) barrels.
Geostrategy
Arab finance ministers mull over food security, Ukraine war
Foreign ministers of Arab nations discussed in Beirut a range of regional crises, with emphasis on food security and the...
- The discussions of the ministers dealt with the impact of the Ukraine war on the region and food security
- As for the Ukraine war, the Arab diplomats were unanimous in rejection of any politicization of international organizations
Economy
Biggest tax cut in a decade will save British workers millions: Johnson
Speaking at the NATO summit in Madrid, Johnson said the "very, very tight labor market" and difficult "balance of our...
- The PM said when the National Insurance threshold rises Wednesday, it will save 30 million British workers up to $400 a year.
- He said there is a "big chance" to fix unnecessary cost pressures for people and businesses across the UK.
Videos
MENA expects $320bn AI share in economy
Artificial Intelligence market is growing in the Middle East by an estimated 20 percent to 34 percent annually, with GCC...
- By 2030, some 70 percent of companies might have adopted at least one type of Artificial Intelligence (AI) technology.
- Less than half will have fully absorbed the five categories of AI: computer vision, natural language, virtual assistants, robotic process automation, and advanced machine learning.
Economy
World Bank and Jordan Chamber discuss investment law
Jordan Chamber of Commerce Vice President discusses with a World Bank team the Kingdom's investment regulation law and the incentives...
- Jordan's Chamber of Commerce stressed on the need to offer clear incentives to projects in the pipeline.
- The move will help the private sector can publicize such incentives to lure in more investments.
Economy
Jordan imports 12.99mn barrels of crude oil in 2021
Jordan imported 11.8 million barrels of crude oil through the port of Aqaba, while a total of about 1.19 million...
- 1.19 mn barrels of Iraqi oil were imported since supply was launched in September 2021 until end of 2021
- Oil production from the Hamza oil field amounted to 105,000 barrels during 2021
Economy
UAE approves 22 policies to speed up circular economy model
The UAE has approved 22 policies that focus on accelerating the implementation of the circular economy model in the UAE in...
- These policies will focus on accelerating the implementation of circular economy model in he UAE in manufacturing, food, infrastructure, and transport.
- A meeting of the Circular Economy Council also identified at least 16 circular economy activities that can create opportunities for businesses.
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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
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
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UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy...
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
Economy
Norms may make it easy to navigate ethical maze of AI
While speaking at the International Government Communication Forum in Sharjah, he emphasized that it's essential to regulate technology and overall...
Economy
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Business
Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
- The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.
- The report urges financial institutions to foster cooperation by sharing data and pooling resources in their fraud detection efforts.
Economy
Saudi and Russian oil cuts to cause big supply shortfall: IEA
The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
- The warning comes a day after oil prices jumped following OPEC's own update
- Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year
Business
China denies ban on use of iPhone in government agencies
Beijing, China--China on Wednesday denied there was any ban on officials purchasing or using foreign phones, including iPhones, after reports said...
- Foreign ministry spokesperson said that China has not issued any laws, regulations, prohibiting the purchase and use of foreign brand smartphones, including iPhone
- In the wake of reports about significant Chinese restrictions on iPhones at government offices and state-backed entities, Apple shares tanked sharply last week