TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
Business
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
Analysis
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...
- Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
- Around 28% of those polled in the UAE said they prefer to buy a used car online
Business
UAE and Egypt to boost investment and cooperation
UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber reviewed bilateral relations with Mostafa Madbouly, Prime Minister...
- This includes traditional and renewable energy, advanced industries, infrastructure, tourism, agriculture
- The two discussed on wind and solar energy, and finding opportunities for sustainable joint investments
Economy
New housing package worth $1.71 billion approved for UAE citizens in Dubai
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has approved a new housing package worth AED 6.3 billion ($1.71 billion)...
- The package includes housing and land allotments for 4,610 Emiratis in the city, on the occasion of Eid al-Fitr and as part of the Housing Program for Dubai Citizens.
- Al Maktoum also approved the development of a new housing complex in Al Khawaneej area 2, which will include 1,100 residential villas.
Economy
Morocco prime minister’s petrol business at center of dispute
Soaring fuel prices in Morocco have placed billionaire petrol magnate Aziz Akhannouch -- who is also prime minister -- at...
- Aziz Akhannouch last week had to try to explain to parliament the rise at the pump to a record $1.46 per liter of unleaded fuel.
- At that level, filling a car's tank would eat into a substantial chunk of income when the minimum monthly wage is barely $280 in the North African nation.
Economy
Saudi non-oil exports jump 31 percent
The exports were driven mainly by chemical products which jumped 80 percent year-on-year with a share contribution to total non-oil...
- In February Saudi Arabia exported SR8.7 billion worth of chemical products — SR3.9 billion more than in the same month of 2021.
- The ratio of non-oil exports to imports increased to 50.6 percent in February 2022, up from 45.7 percent a year earlier.
Videos
Relative debt of GCC countries
Here’s a look at which countries in the Gulf Cooperation Council (GCC) have how much debt, and how they compare...
- Global organizations like the World Bank could lend them money to improve their economy and infrastructure
- Nations have also been known to take loans from their own population, like in times of war, to raise money
Analysis
Protests, pension, pandemic mark Macron presidency
Emmanuel Macron, who had never held elected office before becoming president in 2017, has weathered several crises throughout his presidential...
- Macron became the youngest president in French history at 39 when he saw off far-right leader Marine Le Pen in 2017
- He is now looking to become the first French leader since Jacques Chirac in 2002 to win a second term
Business
Saudi Arabia to host Global Cybersecurity Forum in November
The National Cybersecurity Authority is organizing the annual event under the theme Rethinking the Global Cyber Order.
- Over two days, experts from around the world are expected to gather to address the most pressing issues facing the cyberspace
- These include the evolving international order in cyberspace, the state of cybersecurity threats, and the solutions to threats
Yemen capital’s first commercial flight since 2016 postponed
Hours before the flight, the airline said on its Facebook page that "it has not yet received operating permits," and...
- The airport in Yemen was hoping to receive the commercial aircraft on Sunday morning after seven years of war
- The halt on Yemen's commercial flights prevented sick civilians from seeking urgent medical treatment in foreign countries
Economy
Morocco unveils new tourism promotional campaign
"Morocco, Land of Light" aims to position Morocco among the most coveted global tourist destinations and strengthen its attractiveness to...
- "Morocco, Land of Light" aims to position Morocco among the most coveted global tourist destinations and strengthen its attractiveness to the international public
- The campaign is the cornerstone of the Morocco promotional action dedicated to international tourism, both in traditional and emerging markets
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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
TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
Business
Company News
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COP28 will provide a pivotal moment in climate action
The conference will focus on practical aspects, unifying action, and establishing partnerships, as well as aligning efforts to transition from...
Economy
Qantas posts bumper profit
The airline's annual profit climbs up to US$1.1 billion.
AI startups set to rake in $10bn investments by 2026
Half of new cloud deployments will be integrated cloud data ecosystems by 2024, while edge AI will see 55% of...
Economy
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Economy
Suez Canal ship traffic normal after tanker collision
Cairo, Egypt--Shipping traffic was flowing normally on Egypt's Suez Canal on Wednesday, two shipping sources based in the country said,...
- According to ship tracking company MarineTraffic, the two tankers briefly collided in the canal citing eyewitnesses
- A media outlet quoting a Suez Canal official said that a ship that broke down in the canal was starting to be towed
Economy
Saudi Arabia and Germany discuss cooperation in industrial, mining sectors
Riyadh, Saudi Arabia - Saudi Arabia and Germany have decided to strengthen cooperation in the industrial and mining sectors. A...
- Both parties explored opportunities to collaborate with the University of Munich for Applied Sciences
- The focus was on reviewing the university's educational curricula and academic programs in various fields related to industries and mining
Economy
UAE, KSA optimistic as BRICS leaders weigh expansion
South Africa has revealed potential BRICS expansion plans at the Johannesburg summit, with keen interest shown by Middle Eastern nations,...
- South Africa revealed potential BRICS expansion plans at the Johannesburg summit, with keen interest shown by Middle Eastern nations, notably UAE and Saudi Arabia
- Analysts suggest that BRICS' potential expansion could strain relations with major powers, highlight the bloc's diverse appeal, but also raise concerns about diluted influence