UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
March sees GCC Index drop as heavyweight sectors lag
GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in...
Economy
Business
Qatari businessmen to explore investment opportunities in Egypt
The Qatari Businessmen Association discussed investment cooperation with Mohamed Abdel-Wahab, CEO of Egypt’s General Authority for Investment and Free Zones....
- Chairman of the Qatar Businessmen Association's Board of Directors Sheikh Faisal bin Qassim Al-Thani stressed upon economic cooperation between the two countries.
- He said there are multiple mutual economic opportunities between Qatar and Egypt to develop their cooperation in the trade and investment sectors.
Geostrategy
Syria’s climate-scorched wheat fields produce little
The country is among the countries most vulnerable and poorly prepared for climate change, which is forecast to worsen.
- The trend is most evident in Syria's once-fertile northeast where wheat fields are drying to a crisp because of severe drought and low rainfall.
- Before the war, Syria's wheat production was enough to meet local demand. Harvests then plunged to record lows, leading to increased dependence on imports.
Infographics
GCC sees rise in non-oil sectors’ contribution to GDP
The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.
- The region's biggest economy, Saudi Arabia, unveiled its ambitious long-term strategy for the Kingdom, known as ‘Vision 2030’.
- Since the price of oil has been volatile over the past few years, these countries have been exposed to economic disruption.
Economy
Qatar Central Bank strategy for FinTech to boost sector
Qatar Central Bank is working on designing a new strategy for financial technology and intends to launch it during the...
- Qatar Central Bank is working on the new strategy for financial technology and intends to launch it at the last quarter of 2022
- QCB is creating the necessary infrastructure to enable banks to approve payments from digital wallets
Business
ADX and nine listed companies to attend investors meet in London
Abu Dhabi Securities Exchange (ADX) and nine ADX-listed companies will meet major institutional investors in London on June 9 and...
- The delegation includes over 25 CEOs, CFOs and senior executives from ADNOC Distribution, ADNOC Drilling, Abu Dhabi Islamic Bank, Agthia and others.
- ADX said it will showcase its progress in its strategy to significantly increase liquidity and market capitalization.
Economy
Asian markets mixed as US jobs data give Fed room to hike rates
Asian markets were mixed Monday following a steep drop on Wall Street in response to a forecast-topping US jobs report...
- Hong Kong, Tokyo, Shanghai and Taipei all rose, but there were losses in Sydney, Singapore, Manila and Jakarta
- US traders took flight after the closely watched non-farm payroll figures Friday, which showed more new posts created than expected
Economy
Commercial marinas to issue yacht sailing permits in KSA
Some commercial marinas in Saudi Arabia would be allowed to issue yacht sailing permits which would help develop cruises in...
- Yacht sailing permits would help in developing and facilitating cruises in the Kingdom’s territorial waters
- The initiative would ensure support for tourism development and enhance employment in the sector
Geostrategy
Western powers to censure Iran amid stalled nuclear talks
Major European countries and the United States are expected to seek to censure Iran when the UN atomic watchdog meets...
- Iran has warned "any political action" by US and E3 group would "provoke without any doubt a proportional, effective and immediate response
- The latest IAEA report said that Iran now has 43.1 kilograms (95 pounds) of 60-percent-enriched uranium
Economy
UAE President orders completion of AED2.3bn housing project
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that all housing grant applications will be processed in...
- All housing grant applications will be processed in the next five years, says UAE's Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei
- It includes housing grant applications submitted by applicants who are eligible under the Programme's terms and conditions, the minister adds
Economy
SALIC gets Saudi Grains Organization contract to supply wheat
The amount awarded represents 20 percent of the total allocated to investors abroad, Governor of SAGO, Ahmad Al-Fare said.
- The SALIC, owned by the Public Investment Fund, was established in 2011 to secure food supplies for the Kingdom
- The amount awarded represents 20 percent of the total allocated to investors abroad, Governor of SAGO, Ahmad Al-Fare said
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UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
Company News
Latest News
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...
Business
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...
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....
Economy
Most Read
Economy
Iraq signs deal with IFC to develop Baghdad International Airport
Baghdad, Iraq--Iraq has signed an agreement with the International Finance Corporation (IFC) - a member of the World Bank Group...
- The agreement, according to the Iraqi PM's office, will provide for the expansion, financing, operation, and maintenance of Baghdad International Airport
- The PM's office further said the agreement is part of a series of deals signed with the private sector to develop critical infrastructure across the country
Geostrategy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
- DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
- The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.