Qatar banking on AI with nearly $2.5 bn in investments
Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on...
Economy
Saudi Arabia invests billions in biotech sector: report
The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification...
Economy
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
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
Qatar banking on AI with nearly $2.5 bn in investments
Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on...
Economy
Company News
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‘Qatar leads the charge in food security initiatives’
Several ministers of agriculture and food security from UN's Food and Agriculture Organization member states at the event discussed key...
Geostrategy
West blocked Russian assets worth $280bn, says US treasury
Washington, US - The REPO (Russian Elites, Proxies and Oligarchs) task force, set up to search and freeze Russia-related assets, estimates the...
Geostrategy
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
Economy
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Business
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...
- The collaboration focuses on initiating trade missions and investment forums to help Indian businesses understand what RAKEZ offers.
- The agreement promises customized business services for Indian companies that are tailored to their aspiration of expanding into the MENA region.
Economy
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...
- The UAE Minister of Economy Abdulla bin Touq Al Marri, Minister Bin Touq called for developing the mechanisms of economic integration within the GCC
- The UAE urged finalization of the customs union, the establishment of a common GCC market, and the utilization of AI to bolster developmental endeavors
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...
- Analysts have raised the chances of the Fed successfully cutting inflation while avoiding recession, which is also known as a "soft landing"
- Earlier this week, the Fed said robust tourism spending was helping to keep the wheels of the world's largest economy turning