Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
Economy
Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
Business
Economy
Indian central bank raises interest rates to tame inflation
India's central bank on Wednesday hiked rates for a second time in as many months, as Asia's third-largest economy reels...
- The Reserve Bank of India raises its key repo rate by 50 basis points to 4.90 percent
- Consumer inflation has consistently overshot the central bank's two-to-six percent target range in the first four months of the year
Economy
UAE adopting membrane technology to desalinate water
In 2021, the UAE launched a strategic initiative to become carbon-neutral by 2050.
- In 2021, the UAE launched a strategic initiative to become carbon-neutral by 2050
- In 2018, the country put into action the National Water Security Strategy 2036
Economy
Ukraine to receive $1.5bn in aid from World Bank
The World Bank on Tuesday approves an additional $1.5 billion in aid for Ukraine, bringing the total planned support package...
- The new financing from World Bank to Ukraine will be used to pay wages for government and social workers
- According to Zelensky, Ukraine's government needs a total of $7 billion aid in a month to continue to function
Economy
Baghdad Metro project to be included in Iraqi budget
The 96-kilometers-long ring road project which is currently in the design phase will be completed in four phases.
- The 96-kilometers-long ring road project which is currently in the design phase will be completed in four phases
- There are several projects to relieve the traffic bottlenecks, including the five entrances to the capital project, a government spokesman said
Economy
UAE secures 32% of Japan’s crude oil needs in April
The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that...
- The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that month amounted to 87.59 million barrels
- Ninety three percent of this originated from seven Arab countries: UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, Oman and Algeria
Geostrategy
Countries hand motion censuring Iran to IAEA
The United States, Britain, France and Germany have submitted a motion to the UN atomic energy watchdog to censure Iran...
- It is a sign of growing Western impatience after talks to revive the 2015 landmark nuclear accord with Iran stalled in March
- The vote on the motion is likely to happen on Wednesday or Thursday but Russia refused to be associated with the resolution
Geostrategy
Protesters end blockade as East Sudan governor resigns
A coalition of tribes in East Sudan announced on Tuesday the end of a sit-in which blocked roads to the...
- Beja tribes of Sudan ended their sit-in protest against a 2020 peace deal which they demanded to be scrapped as the Red Sea state governor resigned
- Army chief called the upcoming meeting with civilian groups a "historic opportunity" but the civilians have refused to take part
Arts & Culture
Widening cultural offerings add to Dubai’s growth
Alternative cinematic content is helping the emirate's creative economy diversify and contribute to its GDP, Butheina Hamed Kazim, Founder and...
- Alternative cinematic content is helping the emirate's creative economy diversify and contribute to its GDP, Butheina Hamed Kazim, Founder and MD of Cinema Akil tells TRENDS
- The Dubai Creative Economy Strategy seeks to raise the economic contribution of the creative economy to 5 percent of the emirate’s GDP by 2025
Business
Wall Street stocks down as World Bank lowers global growth outlook
Wall Street stocks fell early Tuesday as the World Bank slashed its global growth outlook and Target warned of lower...
- The World Bank cut its growth estimate for the global economy to 2.9 percent, 1.2 percentage points below the January forecast.
- The broad-based S&P 500 fell 0.5 percent to 4,100.91, while the tech-rich Nasdaq Composite Index also declined 0.5 percent.
Economy
Saudi GDP up nearly 10 percent in Q1 on oil activities
The Gross Domestic Product (GDP) of Saudi Arabia grew by 9.9 percent in Q1 of 2022 compared to Q1 of...
- The GDP Report for Q1 2022 was released by the General Authority for Statistics (GASTAT).
- The growth in Saudi's GDP is due to a surge in oil activities by 20.3% in Q1 2022 compared to Q1 2021.
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Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
Economy
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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,...
Business
G20 per capita coal emissions growing: research
According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions...
Economy
Saudi Arabia to invest $25bn over next five years: Pakistan interim PM
Islamabad, Pakistan - Pakistan's caretaker Prime Minister, Anwaar-ul-Haq Kakar, announced on Monday that Saudi Arabia plans to invest up to...
Economy
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Economy
Saudi Arabia forms Global Water Organization to secure sustainable resources
Jeddah, Saudi Arabia--Saudi Arabia’s Crown Prince Mohammed bin Salman has announced the establishment of Global Water Organization in order to...
- The body will seek to exchange knowledge, expertise, the advance of water technology, innovation, and share research and development experiences
- It will also press for the funding of high-priority projects to ensure the long-term sustainability of water resources while ensuring access to water for all
Economy
Arab economies projected to grow 3.4% in 2023: AMF official
The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed...
- He also underscored the importance of intensifying efforts to develop the financial and banking sector in Arab countries and increasing access to financing and financial services
- The Arab banking system has become more prepared to absorb and withstand financial and economic shocks and risks due to its improved liquidity and solvency levels, he said.
Business
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...
- Ras Al Khaimah, one of the UAE's seven emirates, is planning to open a Wynn Resort valued at around $3.9 billion, which will include a casino
- The decision to allow gambling comes amid heightened economic competition in the Gulf, particularly with neighboring Saudi Arabia