DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
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
Economy
Kuwait wants Schengen visa exemption for its citizens
Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted.
- Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted
- Al-Ghanim said the Kuwaiti delegation responded to many questions on issues like human rights and women empowerment
Economy
UAE, Jordan, Egypt ministers discuss roadmap for new partnership
Less than a week after the signing of the Industrial partnership for Sustainable Economic Growth, ministers from the UAE, Egypt...
- The Ministers discussed time frames for implementing the initiatives and how their performance can be measured
- The members approved the appointment of Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, as Secretary-General of the tripartite higher committe
Business
ENEC, KEPCO discuss cooperation in nuclear sector, ways to curb carbon emission
The Barakah Plant will help in the decarbonization of the power sector in the UAE and the Arab World
- ENEC, KEPCO discussed prospects for future cooperation and exploring the opportunities available in the nuclear energy sector
- The overall completion rate of the Barakah Plant is now over 97 percent and the first and second units are producing electricity
Business
Cybersecurity challenges keep Gulf region on its toes
About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%),...
- Home networks in the UAE were a magnet for cybercriminals who targeted systems, devices, and networks
- Saudi Arabia's Wired Telecommunications Carriers and Other telecommunications sectors ranked as the most targeted industries within the country
Economy
UAE Healthcare charity to receive donations in crypto
Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate...
- Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good
- According to Chainalysis, the Middle East is one of the fastest-growing cryptocurrency markets in the world, making up seven per cent of global trading volumes
Economy
Turkey’s inflation climbs to its highest level in 24 years
Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday,...
- The central bank refused again last week to raise its main rate, keeping it at 14 percent.
- Transport prices jumped by 107.6 percent in May while food was up by 91.6 percent.
Economy
US adds nearly 400,000 jobs in May, jobless rate 3.6 percent
Restaurants and hotels that were decimated due to Covid-19 showed a strong recovery in May, adding 84,000 positions, the data...
- The jobless rate held steady at 3.6 percent for the third consecutive month
- Employers have struggled to fill open positions, which has pushed wages higher
Economy
UAE attracted nearly $21 billion of FDI in 2021: Minister
The UAE succeeded in attracting more than $20.7 billion of Foreign Direct Investment (FDI) in 2021, which reflects the confidence...
- Minister of Economy Abdullah bin Touq Al Marri said the UAE ranked first in the MENA region and 15th globally on AT Kearney's FDI Confidence Index 2021.
- UAE FDIs in Kyrgyzstan amounted to $12 million, making Emiratis among the top 20 foreign investor groups in the country.
Economy
UAE economic growth in 2022 to reach 4.7 percent driven by oil and non oil sectors, says World Bank
UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient...
- The UAE in 2022 is keen on increasing the competitiveness of the private sector, said the Economic Advisor, Ministry of Economy.
- The UAE government launched an economic stimulus package of AED 388 billion, said a senior official of the Ministry of Economy.
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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
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
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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...
Business
Two convictions in FIFA corruption scandal overturned by US judge
Miami, United States--Two convictions in the FIFA corruption case have been overturned by a US federal judge citing a recent Supreme...
Business
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
Business
Most Read
Economy
Oil prices climb to highest level in seven months on supply fears
Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by...
- Russia's Deputy Prime Minister Alexander Novak said on Thursday that his country has agreed with OPEC+ to cut oil exports next month
- The International Energy Agency and OPEC are relying on China, the world's largest oil importer, to shore up oil demand over the rest of 2023
Economy
Iran and Syria sign agreement to build rail connection via Iraq
Tehran, Iran-- Iran and Syria have signed an agreement to connect the rail network between the two countries through Iraq....
- Iran's minister of roads and urban development made the announcement at the inauguration ceremony of the construction of the Shalamcheh-Basra railway
- The minister said that in the wake of the signing of the agreement with Syria, a trilateral agreement between Iran, Iraq, and Syria will be put on the agenda
Geostrategy
Iraq-Iran rail link to facilitate travel, tourism and medical treatments
Iraq's prime minister inaugurated construction work on what is slated to become the first railway line connecting the country to...
- The project had been under discussion for years before an agreement was reached in 2021.
- The Iraqi PM thanked Iran for planned demining operations at the border to clear the way for the train line.