GCC tourism growth skyrockets as diversification drive gains momentum post-Covid
GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy
Economic growth in Asia forecast to slow to 4.5 percent, says World Bank
Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...
Economy
Geostrategy
Sudan talks put off as civilian bloc refuses to be part of process
The second round of UN-facilitated talks aiming to resolve Sudan's political crisis following a military coup has been postponed, a...
- UN, AU and regional bloc IGAD launched "direct talks" to break the political stalemate in Sudan since last October's military takeover
- Military officials of Sudan, representatives of several political parties and senior members of ex-rebel groups attended the "direct talk' on Wednesday
Economy
WTO negotiators finalize key texts on fishing, Covid vaccines
The WTO agreements on fisheries subsidies and a Covid vaccine patent waiver moved a step closer to completion Saturday after...
- World Trade Organization's first high-level meeting in five years where trade ministers and officials from 164 countries will meet
- The global trade body said a draft text on a deal banning subsidies favoring overfishing had been handed over to the ministers
Economy
Kuwait keen on supporting IFAD for progress, says official
Kuwait is keen on supporting efforts by the International Fund for Agriculture Development to feed the poor and aid progress...
- Kuwait and Saudi Arabia had helped established IFAD in 1977
- IFAD's aim is to help impoverished and hunger-stricken regions in the world
Geostrategy
OPEC Fund to provide US$40m loan to Kosovo for reforms
The OPEC Fund for International Development will improve fiscal transparency, promote private sector development and enable environmental reforms
- The comprehensive plan will improve fiscal transparency, promote private sector development
- The plan will enable environmental reforms in the energy and waste management sectors
Economy
Jordan’s Economic Modernization Vision to simplify tax rules
Jordan's Economic Modernization Vision has proposed ways to simplify customs, taxes and shipping regulations for trade and retail business
- The vision focuses on the trade sector as a top national priority due to its contribution to the GDP
- The vision is set to be implemented in three phases over the next 10 years
Economy
Pakistan unveils $47bn budget, 40% of it to service debt
Pakistan's new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking...
- Prime Minister Shehbaz Sharif blames Pakistan's economic woes on his predecessor Imran Khan, who was ousted by a parliamentary vote of no confidence in April
- Analysts, however, say the problems stem from decades of poor economic management by successive governments and military rulers
Economy
2021 State of Country Report proposes fighting extremism, drug menace
The report recommended empowering youth politically by activating the role of the Political Institute of the Ministry of Youth.
- The report recommended empowering youth politically by activating the role of the Political Institute of the Ministry of Youth
- As for the tourism sector, the report stressed the need to launch a tourism-related trails program in Ajloun, Irbid, Madaba, Karak, Ma’an and Tafila
Science
Meta’s Quest VR gear to let people ‘hang out’ in fake worlds
Meta on Friday said that it is adding the ability to easily socialize in virtual reality with an update to...
- Meta is also working on letting people create their own virtual worlds where they host gatherings of avatars, Zuckerberg said
- Horizon Worlds is far from a fully realized metaverse, a future internet where online experiences like chatting to a friend would eventually feel face-to-face thanks to VR headsets
Geostrategy
Iran, Venezuela ink 20-year deal on cooperation in Tehran
Iran and Venezuela signed a 20-year deal on cooperation between the two countries in various sectors including energy, financial and...
- The deal inked by Iran and Venezuela include energy, financial and defense
- From July 18 direct flights would operate between Caracas and Tehran
Business
Lebanon to restart issuing passports, after shortage concerns
Lebanon said Friday it will resume appointments to issue and renew passports next week after suspending such bookings in late...
- General security had stopped passport services because the Lebanese government failed to pay a passport printing company
- Struggling with financial crisis, passport renewal requests in Lebanon surged tenfold since 2020
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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
GCC tourism growth skyrockets as diversification drive gains momentum post-Covid
GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy
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UAE creates federal authority for gaming, casino giants flock to country
Dubai, UAE - The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the...
Business
Iran expects cooperation with Turkey to grow in Erdogan’s new term
Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of...
Economy
Turkey’s inflation nears 60%, piling pressure on new team
campaign pledges and a massive reconstruction effort launched after a major earthquake claimed more than 50,000 lives in Turkey's southeast....
Economy
Most Read
Economy
Iraq signs deal with IFC to develop Baghdad International Airport
Baghdad, Iraq--Iraq has signed an agreement with the International Finance Corporation (IFC) - a member of the World Bank Group...
- The agreement, according to the Iraqi PM's office, will provide for the expansion, financing, operation, and maintenance of Baghdad International Airport
- The PM's office further said the agreement is part of a series of deals signed with the private sector to develop critical infrastructure across the country
Geostrategy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
- DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
- The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.