US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
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.
Economy
Jordan’s exports to Canada went up by 22 percent since 1997
During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent, from US$885,000...
- During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent
- Jordan and Canada have signed free trade, labor, double taxation, environment and investment agreements
Geostrategy
Iran says Turkish offensive in Syria can destabilize region
Iran's foreign minister warned Saturday on a visit to Damascus that Turkish military action in Syria would destabilize the region,...
- Iran is a major ally of Syrian President Bashar al-Assad and an important trading partner for Turkey
- In recent weeks, Erdogan has said he plans to launch a military offensive against Kurdish fighters in Syria Ankara regards as "terrorists"
Economy
MENA eyes key role in making world carbon neutral
UAE and KSA are spearheading decarbonization efforts in Middle East by encouraging enterprises to minimize carbon footprint. Here are a...
- Since MENA countries are a significant global green hydrogen supply source, they may help other nations outside the region reach their carbon-neutral targets
- Trading carbon credits could cut the cost of implementing national contributions to combat climate change by more than half – up to US$250 billion by 2030
Analysis
Apex banks must act as severe stagflation hits markets
Persistently high food inflation will continue to erode households spending power, reducing discretionary spending, and contributing to the stagnation of...
- Surging food prices are a significant contributor to high headline inflation in many countries, including most major advanced economies
- Persistently high food inflation will continue to erode households spending power, reducing discretionary spending, and hurt global GDP
Market Report
Saudi and UAE stock markets end the week lower
The Saudi and UAE stock markets ended the week lower as concerns about slowing global economic growth impacted investor sentiment....
- Saudi and UAE stock markets ended the week lower, following Asian markets
- Concerns about slowing global economic growth impacted investor sentiment
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
Company News
Latest News
Aid groups warn of outbreak of disease in Libya after floods
Several aid organizations have warned of the outbreak of disease in the port city of Derna, after Sunday's flood submerged...
Economy
Libya flood toll is partly due to years of division, say analysts
TRIPOLI, LIBYA - Over a decade of bloody power battles in Libya have resulted in vital infrastructure falling into disrepair, culminating...
Geostrategy
IMF criticizes Lebanon for failure to adopt reforms
The International Monetary Fund renewed its criticism of Lebanon for failing to enact reforms demanded by creditors in return for...
Economy
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Business
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
- The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
- The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.
Geostrategy
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
- Qatar has been a mediator in talks that led to a prisoner exchange deal between Iran and the United States.
- The deal involves the release of five prisoners from each side and the unfreezing of some US$6 billion worth of Iranian funds.
Economy
Nearly two-thirds of Saudi Arabian employees lack enhanced digital skills
Riyadh, Saudi Arabia - A substantial 62% of employees in Saudi Arabia are eager to acquire improved digital skills in...
- The findings also exposed a troubling trend, with 45% of respondents expressing concerns about job security due to their perceived lack of IT competencies
- The survey also highlighted a specific group within the workforce most apprehensive about job security – department heads and top managers