Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
Business
Sudan ship sinks with 15,800 sheep on board
An overladen ship crammed with thousands of sheep capsized Sunday off Sudan's Red Sea coast drowning the animals on board...
- The livestock vessel was heading from Sudan's port of Suakin to Saudi Arabia when it ran into trouble in the Red Sea
- Sudan remains gripped by a chronic economic crisis, which has deepened following last year's military coup led by army chief Abdel Fattah al-Burhan
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
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
Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
Company News
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China reports drop in exports and imports in August
Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global...
Economy
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...
Economy
Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
Economy
Most Read
Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
- According to the QFC's latest purchasing managers' index (PMI) survey, the expansion rate was the third strongest so far in the current year
- QFC CEO Yousuf Mohamed al-Jaida said PMI has held steady over the past six months at a level consistent with solid economic growth
Economy
Israel suspension of Gaza exports risks ‘catastrophe’: businesses
Osama Nofal, of the Gaza economic ministry, put the value of Gaza exports to Israel and the occupied West Bank...
- Israel's army chief on Monday ordered a halt to commercial deliveries from Gaza to Israel after an alleged attempt to smuggle explosives
- The Gaza Strip has been under a crippling Israeli blockade since the Islamist group Hamas seized power in the Palestinian territory in 2007
Business
stc buys stake in Telefónica
The group invests in information, communications and technology sectors.
- The group's growth strategy has resulted in investments in the Information, Communication and Technology sectors inside Saudi Arabia and globally
- The most recent investment being the acquisition by Tawal, a subsidiary of stc Group, of United Group’s telecommunications tower assets in Bulgaria, Croatia and Slovenia