Abu Dhabi targets 39.3 million visitors by 2030
Emirate's new tourism strategy aims to increase the sector’s contribution to GDP from $13.34 billion in 2023 to $24 billion...
Business
Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
Economy
Economy
Iraq’s financial reserves may reach $40 billion by 2022 end: Official
Iraq's financial reserves are expected to reach $40 billion in case the current fiscal year ends without enacting a budget...
- Mazhar Muhammad Salih, advisor to Prime Minister, said the caretaker government will work hard to support Iraq's food security.
- Salih added that the annual government spending in the general budget constitutes nearly half of the gross domestic product.
Business
Qatar Chamber signs deal with Spanish firms to promote trade
Qatar Chamber signed a deal with two Spanish organizations by which it seeks to enhance economic, commercial and trade cooperation...
- There are about 50 Spanish companies operating in Qatar in various sectors like trade, contracting, services.
- Bilateral trade exchange between both countries hit $1.2 billion last year compared with $820 million in 2020.
Economy
Tunisian weavers turn rags into eco-friendly rugs
Tunisian weavers are recycling old clothes into carpets using traditional techniques. This gives women a livelihood and elevate the status...
- Tunisian weavers are recycling old clothes into carpets using traditional techniques.
- This gives women a livelihood and elevate the status of handicrafts in the country.
Business
Iraq will have a surplus of the difference in selling oil: FM
Iraq's Finance minister said during a Television interview, "Iraq will have a surplus of the difference in selling oil, up...
- Minister said in a Television interview, "Iraq will have a surplus of the difference in selling oil, up to 20 billion dollars"
- According to the Iraqi Minister, 2021 budget is unable to cope with economic fluctuations
Business
Strong demand spurs Dubai’s realty growth
The market performed well in 2021, with average home prices and rents increasing by 9.3 percent and 8.3 percent, respectively....
- According to a report by Asteco Property Management, 2021 witnessed the delivery of about 17,000 housing units, including 15,000 apartments and 2,000 villas
- Manager Partner of BSA, Jimmy Haoula, explained that the UAE had outshined many of its neighboring jurisdictions with a welcoming economy and a safe place to grow and live
Economy
Al-Daghmi: Jordan is strong under its ‘wise Hashemite leadership’
Al-Daghmi said Hashemite leadership had built Jordan hand in hand with his sons to be a model in the Arab...
- Al-Daghmi said Hashemite leadership had built Jordan hand in hand with his sons to be a model in the Arab region
- Representative Obeid Yassin said that the Hashemite leadership was and still is the safety valve in the homeland
Geostrategy
Russian army says Mariupol steelworks ‘totally liberated’
Russia's Defense Minister Sergei Shoigu informed president Putin of "the end of the operation and the complete liberation of the...
- Russia's Defense Minister Sergei Shoigu informed president Putin of "the end of the operation and the liberation of the city of Mariupol."
- On May 20, the last group of 531 Azov regiment of Ukrainian soldiers in Mariupol surrendered to Russian army, Russian official has confirmed
Economy
Lebanon cabinet passes financial recovery plan during last session
The cabinet of bankrupt Lebanon, at its final session on Friday, passed a financial recovery plan needed to secure international...
- "Any delay in implementing the financial recovery plan will be very costly to Lebanese," Prime Minister Mikati said
- The International Monetary Fund and Lebanon in April struck a conditional deal for $3 billion in aid
Economy
Key Iraq irrigation reservoir close to drying out
Iraq's Lake Hamrin, a once-vast reservoir northeast of Baghdad that is the sole source of water for irrigation across Diyala...
- "There are no other sources of water in the province -- the volume arriving in Lake Hamrin is the volume used in the province," an Iraqi official said
- The problem is not exclusive to Diyala province. The World Bank predicts that without major changes, Iraq will have lost 20 percent of its water resources by 2020
Economy
GCC ready to deal with global inflation, sectoral shifts
However, Hamade believes that the markets in the Gulf region are better prepared to navigate the economic headwinds given the...
- Local production, technology, and the improving quality of goods and services alleviate the pressure of exports, says Amanat Holding's CEO Dr Mohamed Hamade
- Startups have been contributing to driving economic self-sufficiency aided by homegrown production and facilitation to reduce the burden of imports, he adds
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Abu Dhabi targets 39.3 million visitors by 2030
Emirate's new tourism strategy aims to increase the sector’s contribution to GDP from $13.34 billion in 2023 to $24 billion...
Business
Company News
Latest News
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
CEPA boosts UAE’s trade ties with key global players
“The country's foreign trade will continue to thrive due to these CEPAs. Agreements with Türkiye and Indonesia are slated for...
Economy
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...
Most Read
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.
Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
- A separate report revealed consumer confidence falling owing to concerns about jobs, higher rates and lingering inflation.
- The readings come ahead of the release of the Fed's preferred gauge of inflation -- the personal consumption expenditures price index -- this week.
Economy
Iran’s mineral reserves valued at over $15bn, says official
Tehran, Iran - Iran's in-situ and proven mineral reserves are now worth more than $15 billion, the director general of...
- The reserves encompass six different minerals comprising iron ore, lead and zinc, gold, copper, antimony, and coal
- Discoveries include 100 million tons of iron ore concentrate, 79 million tons of gold concentrate, and 1.32 billion tons of copper concentrate