Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
Economy
Qatar discusses growth of digital economy with US Embassy
In a virtual meeting Qatari minister, US Embassy officials, American Chamber of Commerce personnel, government officials and representatives of the...
- Qatari minister speaks of his country's vision for a digital economy
- He said US firms have a key role in Qatar's digital economy
Economy
US Federal Reserve hints at another interest rate hike
Federal Reserve Governor Christopher Waller on Saturday threw his support behind another large interest rate increase next month. The Fed on...
- The super-sized rate increase came as the Fed faces intense pressure to curb soaring gas, food, and housing prices
- According to Fed Governor, central bankers were trying to prepare markets by offering guidance about when it would stop purchasing bonds
Economy
Sudan farmers resent government apathy to buy wheat
Over 18 million people, nearly half the Sudanese population, are expected to be pushed into extreme hunger by September, according...
- Sudanese officials have declared that they will not be able to buy this season's entire harvest due to lack of funds
- Traders have offered to buy the farmers' wheat but at far lower prices that barely cover the cost of production
Analysis
Growth likely to vary across regions and geographies
While the global economy has been slowing down, the picture looks very different across regions and geographies. This is based...
- While the global manufacturing PMI is still comfortably within expansionary territory, there are signs of a slowdown or even reversal of economic activity
- Nevertheless, different growth patterns can be observed across regions and geographies, a latest report by Qatar National Bank (QNB) has highlighted.
Economy
Services assist Saudi economy recover, diversify fast
The Kingdom's service sector is expected to grow rapidly once the major Vision 2030 tourism and entertainment projects - Qiddiya,...
- The sector is expected to grow rapidly once the major tourism and entertainment projects are completed
- The Saudi service sector is one of the most labor-intensive industries, so its development helps tide over the unemployment
Arts & Culture
Sharjah, Hungary discuss cooperation in cultural field
A high-level Sharjah's Department of Government Relations delegation was in Hungary to discuss mutual investment opportunities and outline ways to...
- Chairman of Sharjah's Department of Government Relations expresses his admiration for the Liget Budapest project
- The project aims to renew Budapest’s most iconic public park while fully respecting its 200-year-old heritage
Economy
‘US$50bn investment a milestone in UAE’s climate action efforts’
The announcement by the President to invest an additional US$50 billion for climate change is a milestone in UAE'S efforts...
- The announcement by the President to invest an additional US$50 billion for climate change is a milestone in UAE'S efforts
- The amount will be utilized to scale up climate action efforts through the deployment of clean energy solutions in UAE and abroad
Economy
CBJ asks local banks not to change interest rates on loans
The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals....
- The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals
- CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals
Economy
9 licences issued over 13 years for Barakah Nuclear Power Plant: FANR report
The FANR has received 11 international review missions led by the International Atomic Energy Agency (IAEA)
- The FANR has received 11 international review missions led by the International Atomic Energy Agency (IAEA)
- The report says the UAE is a party to over 13 international conventions, including 'The Comprehensive Safeguards Agreement'
Geostrategy
UAE president calls for global collaboration at Biden’s climate summit
The UAE president emphasised that the UAE, as an active partner of the global community, is determined to hold a...
- The UAE president emphasised that the UAE, as an active partner of the global community, is determined to hold a COP28 in 2023
- He highlighted the UAE’s investment of more than $50 billion in renewable energy projects across 40 countries
Most Read
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 offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
Company News
Latest News
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
Geostrategy
US Treasury pushing to increase IMF funding by raising quota obligations
The comments from Jay Shambaugh, the Treasury's under secretary for international affairs, underscore the Biden administration's push for the IMF...
Economy
Most Read
Economy
$341bn in non-oil trade between UAE, G20 countries: UAE Minister
New Delhi, India - The non-oil trade between the UAE and G20 countries in 2022 hit $341 billion, which is...
- G20 countries are the UAE's largest trading partners, accounting for 43% of its non-oil exports, 39% of e-exports, and 67% of imports, the minister said
- He noted that the UAE's non-oil trade with the G20 countries grew significantly in 2022, up 56% from 2020 and 34% from 2019
Economy
Saudi non-oil activities push Q2 economic growth to 1.2%
Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
- A GASTAT report showed a 6.1% increase in non-oil activities over 2022, a 2.3% increase in government activities over 2022, and a 4.3% decrease in oil activities.
- According to the report, seasonally adjusted real GDP decreased by 0.2 percent in Q2 of 2023 compared to the Q1 of 2023.
Economy
China reports drop in exports and imports in August
Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global...
- The customs authority said that overseas shipments dipped 8.8 percent on-year, compared with a 14.5 percent plunge in July
- The country's exports, apart from a brief rebound in March and April this year, have been in constant decline since October