Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...
Opinion
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
Economy
Economy
Govt says 200 Qatari nationals got jobs in private firms in May
The Labor Ministry has made a lot of efforts to ensure that Qatari nationals get employment in private sector companies...
- 10 companies and institutions had cooperated with Labor Ministry to employ Qatari nationals in May
- Since January 729 Qatari nationals have been employed in private sector companies and institutions
Economy
Saudi Arabia aims to triple foreign tourism in 2022: Minister
Saudi Arabia aims to triple foreign tourism this year as pandemic restrictions ease, hajj pilgrims return and the first elements...
- The kingdom inaugurated tourist visas in September 2019, just months before the coronavirus pandemic decimated the industry globally.
- An uptick in domestic travel in 2020 and 2021 –- authorities tallied a record 64 million "domestic visits" last year –- helped save the nascent Saudi tourism sector from collapse.
Economy
Jordan’s wholesale price index up 5.6 percent as fuel, mineral prices surge
Jordan’s wholesale price index in Q1 2022 increased by 5.66 percent, reaching 102.64 points against 97.14 during the same period...
- The wholesale price index in the first quarter of 2022 went up by 2.08 percent compared to the fourth quarter of 2021.
- The boost in price of machine trade and their supplies by 5.33 percent or 0.49 points played a role in the index increase.
Business
Jordan’s energy ministry signs two MoUs for copper, gold exploration
The Ministry of Energy and Mineral Resources on Sunday inked an MoU with a local company to explore for copper...
- The Jordan Integrated Mining and Exploration Company will conduct a 16-month copper exploration of a 78-square-kilometre area.
- The Turkish "Solvest Trade and Industry Limited Company" will conduct a 14-month gold exploration in the Abu Khashiba Valley.
Economy
Kuwait backs Turkish-Arab foray into job-oriented philanthropy
Kuwait's Ambassador to Turkey and several Kuwaiti organizations have supported the concept of Core Istanbul
- Kuwait Islamic Charity Organization backs Core Istanbul for its initiative to help young people get jobs
- The concept of Core Istanbul is called as a more business-oriented approach towards philanthropy
Economy
Interior Ministry launches Makkah Route Initiative in 5 countries
Makkah Route Initiative aims to complete procedures in pilgrims countries with ease including issuing visa electronically, taking biometrics, completion of...
- Makkah Route Initiative launched as part of Pilgrim Experience Program under the Saudi Vision 2030
- The Initiative has been launched in Pakistan, Malaysia, Indonesia, Morocco and Bangladesh
Business
Bosphorus sea trade remains undaunted by Ukraine war
At the gates of the Black Sea, trade is in full swing as freighters and oil tankers sail from the...
- After an embargo on Russian imports, tankers with Greek or Maltese flags sail through Bosphorus up to the Black Sea to the Russian ports
- Russian Foreign Minister will visit Turkey to discuss establishment of "sea corridors"
Economy
Oman, Iran sign deals on oil field, two gas pipelines along maritime border
The two countries signed deals to develop two gas pipelines and an oil field along their maritime border, Oman's energy...
- The two sides have signed memoranda of understanding concerning oil and gas, but did not provide details
- A deal was reached about two decades ago to allow Iran to supply Oman with gas, but the project never materialised
Economy
Qatar’s Ministry of Labor launches package of electronic services
Qatar's Ministry of Labor says the new electronic services will streamline procedures and ensure better quality of services
- Qatar's Labor Ministry unveils electronic services for enhancing digital transformation and automation
- The electronic services will speed up transactions and streamline procedures, says Labor Ministry
Economy
Food prices fall in May after hitting record high in March, cereal production may drop
World food prices dipped in May for a second consecutive month after hitting a record high in March, although the...
- FAO says world food prices dipped in May for a second consecutive month although the cost of cereals and meat rose
- Global cereal production would drop in the 2022-23 season for the first time in four years, says FAO
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Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...
Opinion
Company News
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DFM registers 34,800 new accounts in 8 months
Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...
Business
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
Economy
Logistics delivers boom with value-added services
"A top-tier, industry-specific enterprise resource planning (ERP) solution is vital for efficiently delivering these value-added services. Distributors grapple with supply...
Opinion
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Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Economy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
- The surplus would be directed towards reducing public debt, raising the reserves of the Qatar Central Bank.
- It would be used for enhancing the savings of future generations through the Qatar Investment Authority.
Business
Agri-Nutrients SABIC, US firms together support sustainable farming
RIYADH, SAUDI ARABIA - Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
- Through these collaborative efforts SABIC aims to help reduce the carbon footprint in the agricultural supply chain.
- Farmers will use SABIC's bio-fortified urea for the 2023 agri-nutrient season and enroll in ADM's Re:Generations program.