Stablecoins and DeFi drive crypto market’s renewed growth: report
The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a...
Economy
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
Economy
Business
Demand for garments, footwear stagnant in Jordan
Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has...
- Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr
- He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break
Arts & Culture
In Iraq, black community still on the margins
Centered in the city of Zubair, near Basra in the far south of Iraq, the community has its origins in...
- Centered in the city of Zubair, near Basra in the far south of Iraq, the community has its origins in East Africa
- While activists denounce the community's marginalization, talk of racism or discrimination offends Zubair's inhabitants
Economy
Russians prepare for hardships as sanctions begin to hit
With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet...
- Russians citizens are reporting a litany of problems, including shortages of everything from paper to medicine due to the European sanction imposed on Moscow
- Direct air links with Europe have been severed and Russian citizens are unable to use their bank cards abroad
Economy
Jordan extends reduction of general tax for vegetable oils
The decision to bring some relief to people follows in light of the high prices of vegetable oils globally.
- The decision to bring some relief to people follows in light of the high prices of vegetable oils globally
- The country also approved the integrated industrial partnership initiative for sustainable economic development signed between Jordan, the UAE and Egypt
Economy
Jordan’s Petra sees 86,000 visitors in May 2022
The figures showed that 60,640 of the visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities.
- The figures showed that 60,640 people of visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities
- In comparison, a total of 87,622 people visited the city in May 2019, 81,268 of which were foreigners and 4,873 were Arabs and Jordanians
Economy
OPEC debates oil output boost amid Russian isolation
Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the...
- The 13 members of the OPEC, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020
- They have increased output modestly to the tune of around 400,000 barrels per day each month since last year
Economy
UAE, Kyrgyzstan deepening economic cooperation: Al Marri
Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021.
- Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021
- The UAE accounts for 98 percent of Kyrgyzstan’s total trade with the Gulf Cooperation Council
Economy
Jordan ranks first in Arab world on budget transparency survey
Jordan ranked first in the Arab world and 32nd globally on the budget transparency, according to the Open Budget Survey...
- Georgia ranked first, South Africa second and Sweden third on the list.
- Only 31 percent of countries provide sufficiently detailed information to understand how their budget addresses poverty.
Business
Iraq to France: Ready to supply European markets oil
Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the...
- About 60 percent of Russia's exports of crude oil go to the European continent, but in the shadow of Ukraine war, it will need new suppliers.
- Italian Prime Minister Mario Draghi recently visited gas powerhouse Algeria as Rome steps up efforts to reduce its heavy reliance on Russian energy imports.
Arts & Culture
Disney+ releases a sneak peek at the content line up for MENA region
Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA).
- Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA)
- Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, and National Geographic, along with The Simpsons and much more
Stablecoins and DeFi drive crypto market’s renewed growth: report
The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a...
Economy
Company News
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Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
Business
UAE announces US$4.5bn in Africa clean energy investments
Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
Business
G20 per capita coal emissions growing: research
According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions...
Economy
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Economy
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...
- Currently, China is the largest contributor to the aggregate GDP of BRICS, with a staggering 70% share, followed by India at 13%, Russia at 8%, Brazil at 7%, and South Africa at 2%
- One of the most significant impacts of the new members joining BRICS will be on global oil production, which is expected to increase from 18% to 40%
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...
- The body will seek to exchange knowledge, expertise, the advance of water technology, innovation, and share research and development experiences
- It will also press for the funding of high-priority projects to ensure the long-term sustainability of water resources while ensuring access to water for all
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...
- He also underscored the importance of intensifying efforts to develop the financial and banking sector in Arab countries and increasing access to financing and financial services
- The Arab banking system has become more prepared to absorb and withstand financial and economic shocks and risks due to its improved liquidity and solvency levels, he said.