Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
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
Business
Sharjah a vital tourist destination, says business body
The Sharjah Chamber of Commerce & Industry organized a business meeting with the Embassy of the Republic of North Macedonia...
- Sharjah Chamber of Commerce & Industry organizes a meeting with North Macedonia Embassy in the UAE
- In the meeting with a North Macedonia delegation, SCCI promotes the emirate’s tourism potential
Economy
UAE’s EHS, Johnson & Johnson ink MoU on healthcare
Emirates Health Services has signed a MoU with Johnson & Johnson Middle East to strengthen collaboration towards developing more advanced...
- UAE''s EHS has signed a MoU with Johnson & Johnson to strengthen collaboration towards developing more advanced health services
- The agreement will also strengthen collaboration in developing innovative hi-tech solutions to support the health sector in the country
Economy
Abu Dhabi explores clean energy solutions in Canada
The UAE delegation’s visit to Canada comes at a time when the UAE is preparing to host the 28th United...
- The UAE delegation’s visit to Canada comes at a time when the UAE is preparing to host the 28th United Nations Climate Change Conference of the Parties (COP28) next year
- The conference will focus on upholding climate commitments, inclusion for all, and collaboration towards implementing concrete measures and developing practical solutions
Business
50 days on, ‘nothing changes’ for UAE delivery riders
Rise in fuel prices, scorching heat and constant rush to deliver due to 'unrealistic promises' made to clients by online...
- Rise in fuel prices, scorching heat and constant rush to deliver due to 'unrealistic promises' made to clients by online platforms are impacting lives of thousands of riders
- It's time to start accepting slightly longer delivery timelines, treating riders with empathy, and constantly demanding better and humane working conditions for the riders
Market Report
Saudi Index at lowest levels since January
Saudi Stock Exchange's general index fell by nine points. Abu Dhabi market was below 9,200 points, Dubai market rose above...
- The Saudi Stock Exchange's general index recorded its lowest level since January and ended the week down by nine points
- The Dubai market managed to rise above 3200 points, supported by a rise in real estate and investment shares, during the week
Geostrategy
DEWA, Azerbaijan discuss bilateral ties, energy, business prospects
DEWA and Azerbaijan discuss investment in oil exploration and production projects, crude oil trading and reviewed issues of mutual interest...
- DEWA , Azerbaijan discussed investment in oil exploration and production projects, crude oil trading
- The two sides reviewed issues of mutual interest in the energy sector and long-term investment opportunities
Business
Ukraine may take 10 years to build infrastructure to skirt blockade
It would take Ukraine a decade to build infrastructure to replace its Black Sea ports, whose blockade by Russia is...
- Millions of tons of wheat and other grain have been stuck in Ukrainian ports since Russia invaded the country
- Ukrainian minister said that evidence from satellite images showed Russia transporting stolen grain to Syria
Economy
Skilled worker shortage hits Qatar, Kuwait: Report
75 percent of respondents in Kuwait and 60 percent in Qatar said their country has a shortage of people with...
- 75 percent of respondents in Kuwait and 60 percent in Qatar said their country has a shortage of people with specialised skills
- In Saudi Arabia and the UAE, 58 percen and 46 percentt of respondents respectively said that there is a skilled labour shortage
Economy
With $833bn in output, Saudi continues to be largest Arab economy
Saudi Arabia has consolidated its position in the Arab world as the largest economy, posting a domestic output of $833.5...
- The UAE was the second largest Arab economy, with $410 billion — 14.6 percent of the total
- Egypt ranked third, with a production of $402.8 billion
Business
Saudi Arabia to invest $3bn in vaccines, vital medicines industry
Saudi Minister Bandar bin Ibrahim Alkhorayef said that the targeted pharmaceutical sectors whose value exceeds US$5 billion will be implemented...
- Saudi Minister Bandar bin Ibrahim Alkhorayef said that the targeted pharmaceutical sectors whose value exceeds US$5 billion will be implemented in several stages
- The second phase, the minster said, will focus on localising immunological and cancer treatments technologies
Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
Company News
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Qatar Airways’ profits fall
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
Inflation surges in US for second successive month
Washington, United States - Consumer inflation in the United States picked up in August for a second straight month, according to...
Economy
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...
Business
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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
Economy
UAE and Germany hold workshop on hydrogen strategies, carbon markets
Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was...
- The UAE's Ministry of Energy and Infrastructure (MoEI) and Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK) organized the workshop
- During the presentation, the UAE gave a peek into its carbon trading outlook and voluntary carbon markets, as well as showcasing the design of its carbon market
Economy
Ajman records US$1.01 billion in construction contracts in H1 2023
Ajman, UAE-- The value of construction contracts in the emirate has exceeded $1.01 billion during the first half of 2023,...
- The department said the contracts' value rose from the last two years, noting that in 2021 it was $517 million, and in 2022 it reached $571 million
- The emirate provides conducive environment for investment projects, and attracts tourists and visitors from both inside and outside the country