Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...
Business
Economy
WTO talks extended in bid to seal fishing subsidy, food security deals
The World Trade Organization's ministerial conference will run over into a fifth day on Thursday in the hope of striking...
- The global trade body only takes decisions by consensus and its 164 members all need to agree if anything is to get passed.
- India all but sank the WTO's bid to net a long-sought deal on curbing harmful fishing subsidies late Tuesday, insisting it would not sign up without a 25-year exemption.
Business
UAE prohibits export, re-export of Indian wheat, flour for four months
UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and...
- Companies that want to export/re-export wheat and wheat flour varieties imported into the country before 13t May need to seek the ministry's permission.
- The firms must submit to the ministry all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction.
Geostrategy
Aid groups appeal UN to renew Syria cross-border aid resolution
Dozens of aid groups Tuesday urged the United Nations Security Council to renew a resolution allowing aid deliveries to millions...
- Russia, an ally of the government in Damascus, has threatened to use its Security Council veto power to block the resolution's renewal
- Russia has argued aid can instead transit via Damascus-controlled parts of the country across conflict lines
Economy
80 percent children in Ghaza suffer ‘distress’ due to years long blockade: report
Four out of five children in Gaza suffer from emotional distress, Save the Children said Wednesday, 15 years after Israel...
- In a report called "Trapped", Britain-based Save the Children said the mental health of Gazan children has continued to deteriorate
- Since 2018, the number reporting symptoms of "depression, grief, and fear," had risen from 55 percent to 80 percent, the report said
Economy
Global economic growth forecast to pick up towards Q2 end: OPEC report
The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year,...
- The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year, up from 98.7 mb/d on average seen in the first half
- Improving mobility in major economies, as well as seasonal containment of the pandemic is projected to support gasoline and distillate demand
Geostrategy
Biden gambles there’s more to gain by courting Saudis
Making an about-face by deciding to visit Saudi Arabia, US president Joe Biden is betting there is more to gain...
- The visit comes as China increasingly looks to Gulf Arab nations, which have mostly rebuffed US efforts to isolate Russia over its invasion of Ukraine
- Crown Prince had a far chummier relationship with former president Donald Trump, whose son-in-law Jared Kushner was said to chat with the prince over WhatsApp
Geostrategy
Venezuela President in Qatar for unannounced visit
Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al...
- Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al Muraikhi, the minister of state for foreign affairs
- Maduro was in Iran at the weekend and signed a 20-year-cooperation agreement with the Islamic republic
Geostrategy
UN envoy appeals to Houthi rebels to open road to Taez
The United Nations special envoy to Yemen called on rebel Houthis on Tuesday to agree to reopen roads into the...
- Surrounded by mountains, Taez, which has around 600,000 inhabitants, has been almost cut off from the outside world since 2015
- The truce in effect since April 2 has led to a reduction in fighting and in civilian casualties, as well as the resumption of commercial flights from Sanaa
Geostrategy
Facing gas ‘blackmail’ by Russia, EU turns to Israel
The European Union wants to strengthen its energy cooperation with Israel in light of Russia's use of gas supplies to...
- Moscow's conduct "only strengthens our resolve to break free of our dependence on Russian fossil fuels," she said
- Israel is estimated to have gas reserves of at least one trillion cubic metres, with domestic use over the next three decades expected to total no more than 300 bn
Economy
Algeria president sacks finance minister after 4 months in job
The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in...
- The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in a statement
- Raouya's sacking comes less than a month after Tebboune laid off central bank chief Rostom Fadli, in office for less than two years
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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
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Company News
Latest News
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...
Business
UAE vows full backing for GCC economic integration by 2025
Dubai, UAE - The United Arab Emirates (UAE) has reaffirmed its commitment to advancing the economic integration of the Gulf...
Economy
US interest rates in ‘good place,’ for now: Fed officials
The comments from three regional Fed presidents with a vote on setting interest rates will likely solidify expectations that the...
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Geostrategy
Expansion may offer limited economic boost to BRICS
The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them,...
- The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration
- After expansion, the bloc will represent 30% of global GDP, 45% of the population, control 80% of oil production, and account for 16% of global trade by next year
Business
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
- The total sales contracts for residential units in the Real Estate Bulletin during August 27-31 reached US$75 million.
- The real estate trading in sales contracts in the non-residential category during August 27-31 reached US$ 68 million.
Geostrategy
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...
- The Russian president and the Saudi crown prince discussed the outlook for BRICS expansion.
- The two leaders reviewed cooperation between the two countries within the OPEC+ agreement framework.