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
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
Economy
Sudan lifts state of emergency imposed since coup
Sunday's decision came after a meeting with senior military officials recommending the state of emergency be lifted and people detained...
- Burhan who vowed to free political detainees arrested in the 2021 crackdown has now lifted a state of emergency to set the stage for talks among Sudanese factions
- Military officials of Sudan recommended allowing the live TV unit of Al Jazeera to resume operations which was banned for "unprofessional" coverage of protests
Economy
Kuwait works with World Bank to implement national youth policy
The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of...
- The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of the youth projects
- The partnership has two axes - investment in human resources, and empowering the private sector to drive economic growth and create job opportunities
Economy
Equities make broad rally as China relaxes Covid curbs
Markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some...
- The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course
- May jobs data -- due for release on Friday -- should provide a fresh snapshot of the economy and possibly an idea about the Fed's next policy moves
Economy
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...
- Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
- He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
Economy
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.
- The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
- The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
Economy
Algorithm can sort out traffic mess: Israeli IT firm
Israel's traffic congestion ranks near the worst among developed economies but an algorithm can help, says one of the country's...
- EcoMotion's founder Meir Arnon told AFP that surging global interest in smart mobility had made Israel an auto industry player
- AI software collects real-time data from road cameras and then sends instructions to manipulate traffic lights based on vehicle flows
Business
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...
- The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
- Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
Economy
Unemployment insurance to cut UAE business risk
The insurance is being hailed as a step in increasing the attractiveness of the UAE labor market and its ability...
- The employees who lose their jobs will receive cash support for a period of time until the employee finds another job.
- The decision is significant given the fact that unemployment rate in the country is one of the lowest in the world.
Economy
Dubai ranks second globally in attracting FDI in creative economy
Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign...
- Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in 2020.
- In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI.
Analysis
World economies witness new stagflationary shocks
Since the outbreak of the pandemic, the Southeast Asian countries have lagged the performance of advanced economies due to initially...
- The war in Ukraine and the interaction of the highly contagious Omicron variant with China's 'zero-Covid' policy are pushing up global inflation
- Southeast Asia has lagged performance of advanced economies due to initial low vaccination rates, supply chain constraints and less accommodative fiscal policies
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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
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Eurozone inflation unchanged at 5.3% in Aug as energy prices drop
Brussels, Belgium - The annual rate of inflation in the eurozone remained unchanged in August as there was a smaller drop...
Economy
Qatar’s Producer Price Index of industrial sector dips 0.22% in July
Doha, Qatar--Planning and Statistics Authority (PSA) of Qatar has released the new monthly Producer Price Index (PPI) of the Industrial...
Economy
Turkey to ask Russia to resume grain deal in original form
According to TASS, quoting a diplomatic source, Turkey's Foreign Minister Hakan Fidan will propose to Russia at the upcoming talks...
Geostrategy
Most Read
565 companies involved in ‘fake Emiratisation’ cases: UAE ministry
Dubai, UAE - The Ministry of Human Resources and Emiratisation (MoHRE) revealed that 565 companies were proven to have hired...
- The private sector now employs over 81,000 nationals, representing the highest level of Emiratization in the country's history
- The ministry has ceased Nafis payments from nationals proven to have been involved in fake Emiratisation and recovered previous financial support
Economy
Second quarter GDP growth in US 2.1%, weaker than earlier estimates
Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period,...
- GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the initial estimate of 2.4 percent.
- Economists have been warning of a possible downturn as the US central bank rapidly lifted interest rates to tamp down demand and lower inflation.
Business
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
- Imports increased to AED 693 billion, up 17.5 percent compared to the first half of 2022 and 2.6 percent more than the second half of 2022.
- China has retained its position as the UAE’s leading global trading partner, followed by India, the US and Saudi Arabia.