Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
Economy
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
Economy
Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price...
- The recovery process of the sector may get disrupted by the ongoing Ukraine war, fuel price rise, and other potential health threats, say experts.
- The pre-pandemic projection of 230 million arrivals by 2026 will now be reached in 2028 with an estimated expenditure of USD$225 billion, they add.
Geostrategy
‘Delay in govt formation, budget approval to hit Iraq’s economy’
A report issued by the World Bank warns of the delay in forming a government in Iraq and of not...
- A World Bank report warns of the delay in forming a government in Iraq
- Report warns of impact of budget's non approval on the country's economy
Economy
Venezuelan President calls on Qataris to invest in his country
President of Venezuela Nicolas Maduro, called on Qatari businessmen to invest in his country, to enjoy the benefits offered by...
- President of Venezuela Nicolas Maduro reviewed opportunities for tourism and investment cooperation
- Maduro said his government has developed plans to promote 18 vital sectors for the economy
Economy
UAE highly values intellectual property system, fosters innovation: Al Marri
The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country...
- UAE Minister of Economy Abdullah bin Touq Al Marri stated this during meetings with World Intellectual Property Organisation, UNCTAD, WEF officials.
- The meetings were held on the sidelines of the UAE's participation in WTO's 12th Ministerial Conference (MC12) held recently in Geneva, Switzerland.
Geostrategy
Saudi crown prince to visit Turkey on June 22: Turkish official
Saudi Crown Prince Mohammed bin Salman will visit Turkey on June 22, a Turkish official said on Friday. The details...
- Turkish President Recep Tayyip Erdogan had already paid a visit to Saudi Arabia in late April, where he met the prince before travelling to Mecca
- According to the Turkish official, other details related to Saudi crown prince visit will be announced "over the weekend"
Economy
WTO strikes landmark deals package after tense talks
The World Trade Organization concluded hard-won deals Friday on fishing subsidies, food insecurity and Covid-19 vaccines in a landmark bundle...
- The ministerial conference also agreed on deals on e-commerce, responding to pandemics and reforming the organisation itself
- The last ministerial conference in Buenos Aires in December 2017 was seen as a flop after failing to strike any heavyweight deals
Economy
Dubai records decade-high sales transactions in May
Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022.
- The emirate's real estate market recorded a total of 6,652 sales transactions in May 2022, a 52 percent increase in volume and a value growth by 66 percent
- Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022
Economy
Fuel prices hit record highs in Morocco
Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy...
- Morocco has seen months of rising prices and growing calls for caps on energy firms' profits
- The government has so far refused to reinstate fuel subsidies removed in 2015, but has doubled its budget for subsidising cooking gas
Economy
Bank of England hikes interest rate for fifth consecutive time
British economic output declined for the second month in a row in April, weighed down by rocketing prices that are...
- BoE policymakers agreed at a regular meeting to increase the cost of borrowing by a quarter-point to 1.25 percent.
- Pound fell 1 percent against the dollar following the announcement, one day after the Federal Reserve hiked US interest rates.
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Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
Company News
Apple tops $3trn in market value
Business
Latest News
Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan
Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and...
Economy
With no deal in place with Ukraine, Russia starts grain supply initiative
Moscow, Russia - Russian Deputy Foreign Minister Sergey Vershinin has confirmed the commencement of the implementation of the Russian grain...
Geostrategy
‘Qatar leads the charge in food security initiatives’
Several ministers of agriculture and food security from UN's Food and Agriculture Organization member states at the event discussed key...
Geostrategy
Most Read
Economy
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
- The Iranian diplomat said that his country has an ambitious vision to diversify its economy away from crude oil revenues.
- He said that this includes expanding the transportation infrastructure in Iran to significantly increase its cargo transit revenues.
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.
Business
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
- The collaboration focuses on initiating trade missions and investment forums to help Indian businesses understand what RAKEZ offers.
- The agreement promises customized business services for Indian companies that are tailored to their aspiration of expanding into the MENA region.