Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...
Economy
Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...
Economy
Economy
GCC economies to grow by 5.9% in 2022: World Bank
The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general...
- In Saudi Arabia, strong oil production growth and a robust recovery in the non-oil sector is expected to drive
- The United Arab Emirates should also benefit in the near term from rising oil prices
Business
Masdar City, DANA to develop beta site for agritech
Masdar City, DANA, beta site, agritech, pilot projects, greenhouses, net houses, open field farming, water scarcity, irrigation, greenhouse cooling, soil...
- Masdar City, DANA sign MoU to help contribute to agritech sustainability
- MoU to help UAE in meeting objectives as per National Food Security Strategy 2051
Boris Johnson survives no-confidence vote by 211/148
The vote just over two years after he won a landslide general election victory was brought after a string of...
- The vote just over two years after he won a landslide general election victory was brought after a string of scandals that have left the Tory party's standing in tatters
- Chief among them was the "Partygate" controversy over lockdown-breaking events at Downing Street, which caused public outrage
Business
Nasdaq Dubai welcomes US$ 3.25bn Indonesian Sukuk listings
The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates...
- The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates with a 4.70% yield
- The listings further strengthened Dubai’s position as one of the largest centers for Sukuk listings globally, with a total listed value of US$ 80.9 billion
Economy
Egypt’s net foreign reserves at $35.5bn by May end
The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan
Business
Jordan govt, SJIF ink $400m healthcare agreement
Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment...
- Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment Fund Law
- The project will be based on a BOT model, as ownership of the project will be transferred to the Jordanian Government after the end of the investment period
Israel govt loses key vote in setback for coalition
Israel's government suffered a defeat at the hands of the opposition Monday which voted down a push to uphold Israeli...
- Two members of the broad coalition voted at first reading against the bill
- Their rebellion, however, does not call into question the continuation of Israeli law in the West Bank
Economy
Iraq PM’s advisor gives reasons for no consent of final accounts
Iraq PM's advisor identified two main factors that contributed to stall the approval of the state's final accounts 10 years...
- Two main factors contributed to stall the approval of the state's final accounts 10 years ago
- Government final account is one of the most important financial statements that is prepared annually
Economy
Stock markets up globally as China eases lockdown
Adding to the upbeat mood were comments from US commerce chief Gina Raimondo that she was considering lifting tariffs on...
- Traders took heart also from a wind-down of Covid containment measures in China that have crippled its economy for months.
- As infections trended down in major cities, cities like Shanghai and Beijing authorities allowed some sense of normality to return.
Business
Jordan’s exports from Jan-May 2022 hit $478 million
Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339...
- Number of Amman Chamber of Commerce certificates of origin issued during the past five months of 2022 reached 10,879.
- ACC issued 2, 269 certificates of origin to export goods to Saudi Arabia and 1508 certificates to the UAE.
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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
Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...
Economy
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BRICS’ share in global GDP to rise to 30% from January 2024: Indian bank
New Delhi, India - The share of the BRICS (Brazil, Russia, India, China, South Africa) group in the global Gross...
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...
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...
Economy
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Economy
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...
- Iran's president met with the foreign minister of Turkey and other officials and hoped for an enhancement in ties between the two countries
- The Turkish foreign minister believes that the bilateral trade between Ankara and Tehran can reach US$30 billion as the overall relations grow
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....
- The state statistic agency said prices rose by 58.9 percent over 12 months ending in August compared to 47.8 percent in July
- The latests data will test the limits of how much leeway Erdogan's new market-friendly team has to raise borrowing costs
Economy
Middle East needs ‘New Deal’ to deliver for its 600 million people: IMF officials
Dubai, UAE - Middle East needs a ‘New Deal’ to deliver for its 600 million people more jobs, better education,...
- MENA countries are urged to move away from state-dominated economic activities, particularly those with high debt burdens and youth unemployment rates
- Governments are advised to improve digital infrastructure, enhance digital literacy, and develop workforce skills to promote digital adoption