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
‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...
Economy
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
Business
EWEC to conduct 4th Clean Energy Certificates Auction
The CECs provide Abu Dhabi entities a pathway to achieve their desired sustainability goals by guaranteeing the zero-carbon origin of...
- The CECs provide Abu Dhabi entities a pathway to achieve their desired sustainability goals by guaranteeing the zero-carbon origin of their clean electricity consumption
- Also, the CECs offer entities a globalcompetitive edge by holding internationally recognised certificates that guarantees their green credentials.
Economy
FAO predicts increase in global food bill in 2022
FAO predicts the global food import bill would rise by $51 billion compared to 2021, of which $49 billion would...
- FAO says global food import bill may reach a new record of $1.8 trillion in 2022
- It says global production of main cereals would decline in 2022 for the first time in four years
Economy
Abu Dhabi, China’s Shandong to enhance cooperation
Abu Dhabi, China’s Shandong agree to work towards boosting investment opportunities
- The MoU aims to enhance industrial cooperation, facilitate delegation visits, investor meetings
- It seeks to organize entrepreneurship, management consultancy training programs between companies
Economy
UAE, Philippines ink pact on mutual promotion, protection of investments
Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration.
- Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration
- The agreement also provides compensation for the investor if his investments are destroyed as a result of wars, conflicts, civil disobedience, or demonstrations
Economy
GCC, Korea discuss intra-trade during FTA talks
The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between...
- The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between the two sides
- Head of the GCC Negotiating Team, Abdurrahman bin Ahmed Al-Harbi stated that the agreements follow the directives of the leaders of GCC member states
Geostrategy
UAE tops Arab countries as best Foreign Direct Investment hub
The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in...
- The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in 2021
- The report showed that global flows of FDI recovered to pre-pandemic levels last year, reaching US$1.58 trillion, an increase of 64 percent compared to 2020
Economy
Sustainability meets affordability at smart UAE homes
With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable...
- With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa
- The UAE is proactively embracing digital technologies to promote sustainability and ensure that GCC remains well-positioned to evolve into a power-packed digital economy
Economy
Saudi Industrial Production Index rises by 26 percent in April
Saudi Arabia's Industrial Production Index (IPI) in April 2022 increased by 26.7 percent compared to the same month last year....
- Growth attributed to the high production in mining, quarrying and manufacturing activity.
- The IPI is an economic indicator that reflects the relative changes of the volume of industrial output.
Economy
UAE strengthens ties, strategic partnership with South Korea
The UAE Minister held a series of high-level meetings with government and business leaders in South Korea to strengthen bilateral...
- The UAE Minister held a series of meetings with govt leaders in South Korea
- The Minister held meetings with business leaders in South Korea
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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
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
Company News
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China’s digital economy surged by $4 trillion from 2016 to 2022
Tianjin, China - The digital economy in China surged by $4.1 trillion from 2016 to 2022, which works out as...
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...
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...
Economy
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Economy
Healthcare sector in Qatar witnesses remarkable growth, says IPA Qatar
Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health...
- A study carried out by IPA Qatar shows that health promotion and disease prevention underpin its commitment to ensuring the well-being of its citizens
- In the next 10 years, digital infrastructure, virtual care, remote patient monitoring and AI will account for some 30% of hospital investments in the region
Business
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
- Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Business
UAE announces US$4.5bn in Africa clean energy investments
Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
- The minister said the investment in Africa is aimed to develop 15 GW of clean power by 2030
- As of 2022, the continent's renewable generation capacity was 56 gigawatts, according to the IREA