Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...
Opinion
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
Analysis
UAE’s Covid-19 response gets global plaudits
Earlier this year, the UAE rose to the top of Bloomberg’s Covid Resilience Ranking, outperforming European countries in terms of...
- For one, smart-technology platforms were effectively used in the UAE to combat Covid-19
- The UAE also adopted the mandatory use of face masks in March 2020, well ahead of the WHO recommendation
Geostrategy
Marcos Jr eyes landslide as Philippines votes for new president
Millions of Filipinos thronged primary schools and other polling stations Monday to elect a new president, with the son of...
- Ten candidates are vying to succeed President Rodrigo Duterte in elections seen by many as a make-or-break moment for the Philippines' fragile democracy
- But only Marcos Jr and his rival Leni Robredo, the incumbent vice president, have a credible chance of winning
Economy
Dubai ranked first globally in attracting greenfield FDI projects
The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said....
- Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in 2020.
- The United Kingdom was the biggest source of FDI, accounting for 27 percent of total share of the FDI capital, followed by the US, France and Germany.
Business
Jordan sees increased food demand in Ramadan
Medium- and low-income Jordanian families spend 45 per cent of their income on food, and are the most impacted group...
- Amman Chamber of Trade President Khalil Haj Tawfiq said this, noting that food sector sales picked up after falling in the first four days of Ramadan
- Staple food items remained in sufficient supply during Ramadan, adding that 85 per cent of the Kingdom's food needs are imported from abroad
Economy
UN stresses strategic approach to address Palestinian economic situation
The United Nations has stressed on a more strategic approach to address the economic and fiscal crisis faced by the...
- A UN report warned of an uncoordinated approach to address the current political, economic and security challenges in the Occupied Palestinian Territory.
- The report urges Israelis, Palestinians, regional States, and the broader international community to concrete steps to encourage the parties to further engage with each other.
Economy
Between searing drought and the Ukraine war, Iraq watchful over wheat
Iraq will have to import wheat this year as it may only grow 2.5-3 million tons of wheat, "not enough...
- Searing heat and a lack of rain were already threatening harvest in Iraq and now soaring oil and high-yield seed prices has become another financial burden for farmers
- Hamid al-Nayef said that the government was helping farmers by raising the purchase price in order to pay producers around $500 per ton of wheat
Economy
Saudi King Salman enters hospital for ‘examinations’
King Salman entered King Faisal Specialist Hospital in the coastal city of Jeddah on Saturday ‘to conduct some medical examinations’.
- The 86-year-old King Salman has ruled the top oil exporter and the Arab world's biggest economy since 2015
- He was most recently hospitalized in March, for ‘successful medical tests’ and to change the battery of his pacemaker
Business
Oman natural gas production sees slight increase
The country’s National Center for Statistics and Information has announced that the country’s production of natural gas at the end...
- The consumption of natural gas in industrial areas rose 13.9 percent in March this year, compared to the same period in 2021
- Gas consumption witnessed a decrease in oil fields by 7 percent and in power plants by 3.3 percent at the end of last March
Economy
Lebanon expat voters’ turnout in Arab countries and Iran reaches 36.43%
The election is expected to be a referendum on the country’s ruling class, which is widely blamed for the economic...
- A total of 11,268 Lebanese in Arab countries and Iran voted in the election of the country on Friday
- This raised the overall turnout of expatriates in the country’s presidential poll to 36.43 percent
Business
Saudi Arabia to attract $32bn investment in mining sector
The investment is expected to be made in nine new projects across the country.
- The projects are aimed at supporting supplies of mineral products to local and international markets
- The ministry is currently studying 145 applications for exploration licenses from foreign companies
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Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...
Opinion
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Siemens to expand business
Business
Tawuniya Q1 2023 net profit $20m
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...
Business
Bahrain to partner with private sector to ramp up investments in oil projects
Manama, Bahrain--Bahrain has indicated its keenness to encourage investments in the kingdom's oil and environmental projects through partnerships with the...
Economy
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Economy
COP28 to help green transition in developing nations
"International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change...
- The UAE's hosting of the COP28 will act as a leverage for international focus on climate action in the region
- Reports indicate that the Middle East and North Africa region is the most vulnerable to climate change risks
Economy
Space Economy: Saudi Arabia targets stars and beyond
From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is...
- From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is making significant strides in the space sector
- With challenges ahead, the nation's goal is to localize knowledge, foster capabilities, and create a sustainable space ecosystem to secure key position in space economy
Business
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...
- The Jordan Chamber of Commerce stressed on the importance of attracting new Yemeni investments to the Hashemite Kingdom.
- The JCC said the Kingdom offers several opportunities in multiple commercial, service and industrial sectors for investors.