Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Economy
Clean sources transformed UAE energy sector in a decade: ENEC chief
The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered...
- Barakah Nuclear Plant is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country.
- With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand.
Geostrategy
Red Cross chief Mardini on Iran visit talks Afghans’ plight
More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to...
- More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to Iran's state news agency IRNA
- Thousands of Afghans daily try to cross into neighboring Iran in search of work, or in a bid to reach Europe in the hope of asylum
Geostrategy
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted...
- New discussions on the Russian oil embargo are expected to be held between European leaders by telephone on Tuesday
- It will involve French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and Hungary's Prime Minister Viktor Orban
Geostrategy
Russia shells Ukraine’s Odessa as US pledges fresh arms for Kyiv
Russian President Vladimir Putin has said the West and Ukraine are responsible for the ongoing war, telling his country's Victory...
- A Russian airstrike in Odessa killed one and destroyed buildings and a shopping center, hours after the European Council president visited the war-torn country
- The US resurrected a World War II measure to aid Kyiv, opening the spigots on artillery, anti-aircraft missiles, anti-tank weapons, and another powerful Western materials
Analysis
‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...
- People tense or stressed at work are more than three times likely to plan to look for a new job
- In contrast, employees who feel supported are more likely to stay, lowering turnover costs
Geostrategy
UN says ‘imminent’ Yemen oil spill would cost $20 bn to clean up
The United Nations warned Monday that it would cost $20 billion to clean up an oil spill in the event...
- The 45-year-old FSO Safer, long used as a floating oil storage platform with 1.1m barrels of crude on board, has been moored off the rebel-held Yemeni port of Hodeida since 2015
- The UN official had earlier announced on Twitter that the Netherlands would host on Wednesday a pledging conference for the international body's plan to avert the crisis
Market Report
Bitcoin falls below $30,000, lowest since July 2021
Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors...
- Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000
- Traditional investors have been offloading bitcoin and other digital tokens along with other volatile assets like tech stocks
Economy
UAE increases Emiratisation rate to 2 percent annually
NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector.
- NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector
- The incentives include reducing the service fees of the private sector establishments which recruit and train Emirati citizens by 80 percent
Economy
Oil, stimulus packages revive Arab world’s growth
The growth rate of Arab economies is expected to increase to around five percent in 2022 on the back of...
- The GCC countries' growth rate is expected to hit 5.8 percent in 2022, up from 3.1 percent in 2021
- In 2023, the Arab countries as a group are predicted to develop at a rate of around four percent
Economy
Saudi fights to lead ‘saturated’ MidEast aviation market
Saudi Arabia on Monday pitched aviation industry leaders on its plans to become a global travel hub, drawing scepticism from...
- The kingdom's aviation goals, part of "Vision 2030" reforms, include more than tripling annual traffic to 330 million passengers by the end of the decade.
- It also wants to draw $100 bn in investments to the sector by 2030, establish a new national flag carrier and construct a new "mega airport" in Riyadh.
Most Read
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
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Company News
Latest News
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
Geostrategy
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition. The...
Economy
It’s time to address universal issues through media
Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly...
Economy
Most Read
Economy
Iraq to harness Associated Petroleum Gas to generate electricity
Baghdad, Iraq - The Iraqi government has launched a project to harness the Associated Petroleum Gas (APG) from the Bin...
- The project's principal advisor Mounir Bouaziz said that the field's production capacity is scheduled to range from 400,000 to 500,000 barrels of light oil per day
- Once completed, the project will eliminate the need for import of a significant portion of gas while also meeting the requirements for operating electric power plants
Geostrategy
Tehran exports goods worth $7.2bn to West Asia in 4 months from March 2023
TEHRAN, IRAN - Iran exported $7.2 billion worth of products to West Asian countries in the first four months of...
- Comprehensive strategic five-year plans have been defined for the West Asian countries with a focus on trade infrastructure.
- The plans include organizing and development of transportation platforms, banking exchanges, customs and standards.
Business
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...
- Iran was the world’s seventh largest steel producer in June with an output of 3.2 million mt, up 17.4 percent from June 2022, the report added.
- For years, Iran had been ranked 10th globally in the list of top steel-producing countries.