UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking
The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy
Egypt hikes subsidized bread price for first time in decades
Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years,...
Economy
Geostrategy
US pledges support as Israel heads to elect new PM
Blinken, in a telephone call to Foreign Minister Yair Lapid, who will become caretaker prime minister confirmed that President Joe...
- Blinken, in a telephone call to Foreign Minister Yair Lapid, who will become caretaker prime minister confirmed that President Joe Biden still plans to visit Israel next month
- The coalition government led by the right-wing Naftali Bennett and centrist Lapid had sought to tone down and depoliticize Israel's relations with the United States
Egypt calls for reality check in UN climate talks
Egypt hopes to jump-start the action needed to face a warming world when it takes the presidency of major UN...
- The challenge of maintaining international momentum on climate change has been made even harder as the world faces a catalog of challenges, with Russia's invasion of Ukraine
- Ambassador Mohamed Nasr said that while Egypt's presidency of the conference would have "African flavor and African vision", it would remain resolutely international in focus
Business
Cubans ditch petrol cars, embrace electric versions
There is a new sight on the streets of Havana: increasing numbers of electric vehicles whizzing among the old American...
- The Cuban government has been promoting the use of electric cars, introducing them to state-owned companies to avoid use of fuel
- Fuel shortages have worsened since the US reinforced blockade of Cuba in 2019, preventing the arrival of fuel tankers from Venezuela
Economy
Tunisia appeals to IMF to be aware of social impact of reforms
Tunisian President Kais Saied on Tuesday urged the International Monetary Fund to take into account the social impact of any...
- Tunisia has been in preliminary discussions with the global lender for a new loan to save an economy ravaged by years of high unemployment and inflation
- Tunisian President and IMF regional chief have discussed the "aspects of cooperation and liaison between the IMF and the Tunisian government"
Geostrategy
Saudi crown prince, Jordan king meet amid thaw in ties
Saudi Crown Prince Mohammed bin Salman met with Jordan's King Abdullah in Amman on Tuesday to discuss regional and international...
- The tour of the Saudi Crown Prince acquires special significance as it comes before a planned Arab-American summit in July which Saudi Arabia will host
- The visit to Jordan comes at a time when Jordan's economy is struggling with the economic knock-on effects of the Ukraine war
Economy
UAE’s FRC forms council for financial reorganization
UAE's Financial Restructuring Committee has formed a Consultative Council to provide an open discussion forum between the FRC and experts...
- Consultative Council has been formed to provide an interactive relation between FRC and the community
- The Council will discuss and provide advice on financial reorganization and bankruptcy
Business
Global personal luxury goods market hits US$300bn
The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the...
- Global personal luxury goods experienced a remarkable performance in the first quarter 2022
- Luxury brands enjoyed growth from a strong holiday shopping season, maintain momentum in the US
Economy
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...
- The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
- The strategy will help the country develop a diversified, self-sufficient and sustainable economy
Economy
Saudi Arabia lifts travel ban on Turkey, India, Ethiopia, Vietnam
The decision was based on the findings of the competent health authorities about the epidemiological situation in these countries.
- The decision was based on the findings of the competent health authorities about the epidemiological situation in these countries
- Earlier this month, the kingdom lifted measures intended to prevent the spread of the virus, such as the requirement to wear face masks indoors
Economy
Inflation poses new challenges to Middle East, GCC
The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing...
- The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for alternatives away from the govt actions.
- The unprecedented inflationary hikes is the result of Russia's four-month-long conflict with Ukraine that has hit global supply chains and increased shipping expenses.
UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking
The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy
Company News
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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...
Business
Saudi capital market institutions employ 5,524 by second quarter end: CMA
Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the...
Business
UAE Govt to offer 2.5% payment support for pensioners
Dubai, UAE - The UAE government has announced a 2.5 percent payment support to its citizens’ pension contributions through the...
Economy
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Economy
Saudi SME Bank inks pact with SIDBI of India
New Delhi, India - The Small and Medium Enterprises Bank (SMEB) of Saudi Arabia has signed an agreement with the...
- The agreement encompasses various components, including the design and formulation of engineering strategy data
- It involves the transfer of knowledge pertaining to credit practices, with a particular emphasis on supporting small and medium-sized enterprises
Science
Iran and Russia sign deal to build research spacecraft in two years
Tehran, Iran-- Iran and Russia are looking to build a research spacecraft within two years and in this connection top...
- The Scientific and Research Department at the University of Tehran has set up a secretariat to oversee the project
- The Islamic republic's vice president has directed the Plan and Budget Organization of Iran to finance part of the joint project
Economy
India wants to use UAE expertise in smart cities: official
New Delhi, India - India wants to cooperate with the UAE in smart cities and technologies, President and CEO of the...
- India aims to have a digital economy worth US$1 trillion by 2026, and its internet services are already valued at US$300 billion, Abhishek Singh said
- There are many areas for cooperation between the two countries, most notably smart cities, digital traffic systems, and technology integration in healthcare, he added