Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
Economy
Economy
Food security main agenda of UAE delegation in Netherlands
A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
- The UAE delegation shared their wide range of expertise with their Dutch counterparts
- The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Economy
Qatar passenger traffic may surge by 105 percent in 2022: Report
The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
- Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
- The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
Business
Kuwait awarded nearly $6 billion worth of tenders in 2021
The Central Agency for Public Tenders of Kuwait (CAPT) has awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of...
- The Ministry of Electricity, Water and Renewable Energy had won the lion's share of the tenders in 2021.
- The Ministry of Health (MoH), with 25 tenders worth $364.6 million, grabbed the second position.
Business
Jordan’s FDI in 2021 reaches $622million, Arab region’s $53 billion
The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's...
- UAE was the topmost FDI destination in the Arab world, with $20.7 billion or 39.1 percent of the region's total FDI.
- UAE was followed by Saudi Arabia with $19.3 billion, Egypt with $5.1 billion, Oman with $3.6 billion, and Morocco with $2.2 billion.
Geostrategy
Arab League calls for efforts to counter global economic crisis
The Arab League says the world is facing challenges from political, economic crises and armed conflicts and that unified efforts...
- Arab League says unified efforts are needed among countries in the region to confront challenges facing the global economy
- The League says the world is facing a massive challenge from political, economic crises and armed conflicts
Business
Jordan energy ministry inks MoUs for copper, gold exploration
Jordan's Ministry of Energy signed an MoU with a local company to explore for copper and it also signed another...
- Jordan's energy ministry inked an MoU with a local company to explore for copper in the Dana region of the Kingdom's south
- The ministry signed an MoU with a Turkish company to explore for gold in the Abu Khashiba region, also in the south
Geostrategy
Sharjah, Costa Rica strengthen economic, cultural relations
Sharjah is building on the long-standing historical ties the emirate shares with Costa Rica to bolster and deepen diplomatic and...
- The strong relations between Sharjah and Costa Rica are serving as a base for enhancing economic cooperation
- The two sides can benefit through the mutual exchange of expertise in industries, culture, science, technology and economy
Economy
UN raises $5m to prevent oil spill disaster in Red Sea
The United Nations is launching a crowd-funding campaign for an operation intended to prevent an aging Yemeni oil tanker from...
- An operation to transfer its 1.1 million barrels of oil to a different vessel could begin next month, according to a website for the crowd-funding campaign
- The 45-year-old oil tanker FSO Safer is in "imminent" danger of breaking up as it has not been serviced since Yemen's civil war
Economy
Turkey constructs Black Sea pipeline to pump natural gas
Turkey's president hailed on Monday the start of the construction of an underwater pipeline to tap a Black Sea natural...
- Sakarya gas field of Turkey could produce 10 million cubic meters by the first quarter of 2023, Erdogan said
- He described it as "the largest natural gas field in Turkey's history", citing estimated reserves of 320 billion cubic meters
Infographics
Oil revenues help boost MENA economic growth
Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023,...
- Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Click for the country-wise breakup.
- The global growth, meanwhile, is expected to slump from 5.7% in 2021 to 2.9% in 2022— significantly lower than 4.1% that was anticipated in January, it added.
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 surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
Economy
Company News
Latest News
Gig economy accounts for up to 12% of the global labor market: WB
Washington, US – The ‘gig economy’ accounts for up to 12 percent of the global labor market—much higher than previously...
Economy
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,...
Geostrategy
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...
Business
Most Read
Economy
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...
- An increase in quotas "will reduce its reliance on borrowed resources and provide the IMF with a more consistent and predictable level of resources," said Jay Shambaugh.
- The Treasury is also looking at ways to expand the influence of emerging markets and developing economies at the top of the IMF, he said.
Business
Masdar, Africa50 sign MoU
The aim is to speed up clean energy transition in Africa.
- Masdar brings its technical expertise and extensive experience in emerging markets and will work with Africa50 to bridge the infrastructure funding gap.
- Africa50 brings its skill in developing projects in the continent and which, combined with Masdar, can help unlock clean energy potential.
Business
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
- EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
- 9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.