UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
Business
Dubai urges use of smart apps to order Eid sacrifices
Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the...
- Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the poor
- Through the apps, residents can put in their orders for slaughter, have them delivered, or even distribute them to local charities
Economy
Big Oil meeting with US govt cordial but no gas price fix
High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating.
- High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating
- Biden and the oil industry have an uneasy relationship, in part over the White House's efforts to restrict drilling in some federal areas
Economy
UAE gets 41% of all FDI projects to Arab countries in 2 decades
The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and...
- The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and 2021
- As per the Arab Investment Export Credit Guarantee Corporation Arab countries received a total capex of US$1.3trn over the last 19 years
Economy
UAE keen to create sustainable food systems in GCC: Minister
Mariam bint Mohammed Almheiri, UAE’s Minister of Climate Change and the Environment, has said UAE is keen to enhance efforts...
- Mariam bint Mohammed Almheiri was speaking at the 32nd Meeting of the GCC Agricultural Cooperation Committee.
- Participants at the meeting also discussed nontariff barriers and the GCC’s cooperation with Jordan and Morocco.
Economy
Saudi Arabia’s merchandise exports up 98 percent in April: GASTAT
Saudi Arabia’s overall merchandise exports increased by 98 percent in April 2022 compared to April 2021, according to General Authority...
- The value of exports amounted to SAR137.1 billion ($36.53 billion) in April 2022, up from SAR69.3 billion in April 2021.
- This increase was attributed mainly to oil exports, which rose by SAR60.5 billion or 123 percent in the same period.
Economy
‘Renewable energy is 20 percent of Jordan’s power output’
Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable...
- Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable Energy Commission
- The Secretary-General called upon Arab nations to develop their own renewable energy industries rather than importing foreign technology
Economy
Tunisia trade unions chief rejects IMF conditions for bailout loan
The head of Tunisia's powerful UGTT trade union confederation on Thursday rejected conditions set by the International Monetary Fund for...
- IMF's regional chief Jihad Azour has said Tunisia "needs to urgently tackle its fiscal imbalances", replace generalized subsidies with transfers targeting the poor.
- But Noureddine Taboubi, head of powerful UGTT trade union confederation, rejected "the painful options they're talking about".
Economy
Energy security vital for economic growth, says Saudi minister
Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and...
- Saudi Arabia's finance minister says energy security is important for the economic growth and prosperity of the world
- The finance minister says energy supplies, economic development and climate change vital aspects of the world
Business
UAE to issue dual-tranche dollar benchmark size bonds
The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and...
- The bonds are a 10-year tranche and a 30-year Formosa tranche.
- The 10-year tranche will be listed on London Stock Exchange and Nasdaq Dubai, and the 30-year tranche will be listed on LSE, Taipei Exchange and Nasdaq Dubai.
Kuwait dissolves parliament and heads to elect new government
Kuwait's crown prince announced Wednesday the dissolution of parliament and called for new elections amid escalating disputes between the legislative...
- The cabinet, the fourth to be formed in two years, resigned in April, three months after it was sworn in, but continued to act in a caretaker capacity
- Oil-rich Kuwait has been shaken by disputes between lawmakers and successive governments dominated by the ruling Al-Sabah family for more than a decade
UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
Business
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Investigation
Saudi Catering, RSG ink pacts
Business
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,...
Economy
UAE’s financial wealth to reach $1.3trn by 2027
Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth...
Economy
UAE economic expansion to continue, after posting 3.8% growth in Q1: OPEC
Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in...
Economy
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Geostrategy
WFP warns fund cuts could push 24m people to brink of starvation
Geneva, Switzerland - The World Food Program said Tuesday that shrinking funding was forcing it to drastically slash rations in many...
- WFP said it had been struggling to meet growing global needs for food assistance while facing a funding shortfall of over 60 percent this year.
- WFP estimates that 345 million people worldwide are facing acute food insecurity, at level three or higher on the UN's five-scale food insecurity classification.
Geostrategy
Building less, repurposing more key to low construction sector emissions
The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
- Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
- Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.
Business
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
- The industrial membership in the Ajman Chamber grew by 6.9 percent during the first half of this year compared to the first half of 2022.
- The Ajman Chamber is keen to attract specialized investments in modern industries based on technology and artificial intelligence.