GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
Economy
Abu Dhabi Business Centre adds 80 new economic activities during 2021
The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (ADDED), announced that 80 new economic activities...
- New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional and six industrial activities.
- In agricultural sector, the new added activities include beekeeping training, breeding reptiles and amphibians.
Business
Jordan and Azerbaijan look to boost trade ties
According to the statement, a Jordanian-Azerbaijani Economic and Investment Business Forum will be held in the coming period
- The meeting also discussed the successful economic policies established by the Kingdom to support the private sector
- It encourages foreign investment and provides more investment opportunities for companies wishing to invest in the Kingdom
Economy
Key Libyan oil export port closed amid shutdown ‘wave’
Libya's National Oil Corporation announced Monday the closure of operations in major oil fields after staff in the key export...
- Declaring force majeure is a legal move allowing parties to free themselves from contractual obligations when factors such as fighting make meeting them impossible.
- Zueitina is one of the four oil terminals in the so-called "Oil Crescent" region, and its closures will prevent Libya from exporting almost a quarter of its 1.2m barrels per day.
Economy
Morocco’s official reserve assets reach $33.39 billion on 1 Apr
Morocco's official reserve assets amounted to 329.1 billion ($33.39 billion) Dirhams on 1 April 2022, up by 8.2 percent compared...
- During the week of April 7-13, 2022, the Dirham depreciated by 1.06 percent against the US Dollar and by 0.16 percent against the Euro.
- On the interbank market, the average daily volume of trade stood at 4.2 billion Dirhams while the interbank rate stood at 1.5 percent on average.
Economy
Iraqi PM sets up workgroup to coordinate gas supply with Iran
Al-Kadhimi asked the workgroup to visit Iran and remove the obstacles hindering the supply of gas to Iraqi electricity power...
- Al-Kadhimi asked the workgroup to visit Iran and remove the obstacles hindering the supply of gas to Iraqi electricity power plants
- Earlier this month, Iraqi Electricity Minister Adel Karim had said that Iraq will need to import gas from Iran at least for the next couple of years
Economy
Jordan is regional hub for trade, investment: Minister
Jordan Minister of Investment, Khairy Amr, said the government seeks to turn Jordan into a destination for foreign and Arab...
- Jordan Minister of Investment, Khairy Amr, said the government seeks to turn Jordan into a destination for foreign and Arab investments
- He pointed out that the Ease of Doing Business report issued by the World Bank ranked Jordan among the 10 most reformed countries in the world
Economy
SEWA carried out 35 lighting projects during 2021
Dr. Eng. Hassan Al Zarooni, Director of the Electricity Distribution Department, said the projects support its efforts to achieve sustainability...
- Dr. Eng. Hassan Al Zarooni, Director of SEWA said the projects aim for sustainability through energy conservation
- This comes as part of the Sharjah’s efforts to design and implement road lighting networks in all regions
Economy
KSA converts its deposit with Central Bank of Mauritania into soft loan
The move comes as an extension of the Kingdom’s continuous support for the people and government of the Islamic Republic...
- The move comes as an extension of the Kingdom’s continuous support for the people and government of the Islamic Republic of Mauritania
- The support aims to contribute to promoting inclusive and sustainable economic growth, in addition to opening new financing channels
Economy
China economy grows 4.8% in first quarter as virus bites
The world's second-biggest economy was already losing steam in the latter half of last year with a property slump and...
- China's GDP growth was better than expected at 4.8 percent on-year in the first quarter
- But the data did not take in the gnawing impact of a weeks-long lockdown in Shanghai
Economy
Libya’s National Oil Corporation announces closure of Al-Fil oil field
Libya's National Oil Corporation announced Sunday the closure of production at a major oil field in the country's south, declaring...
- The closure comes after a group of individuals declared that they were halting production "until a government appointed by parliament takes office in the capital".
- The firm said it "is obliged to declare a state of force majeure" and would no longer be able to provide crude to the Mellitah complex on the country's northwestern coast.
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GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
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Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
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Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
Business
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Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
- The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships between the UAE and Ethiopia.
- The signing of the MoU was held on the sideline of the UAE delegation's visit to the Federal Democratic Republic of Ethiopia.
Economy
Arab Parliament endorses call to support victims of terrorism
Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported...
- The parliament said the victims of terrorism in the Arab world must be supported with money to overcome their tragedies
- The parliament expressed solidarity to coincide with the International Day of Remembrance and Tribute to the Victims of Terrorism
Economy
China cuts key interest rate to support economy
The measures, which run counter to rising interest rates around the world as other major economies work to curb inflation,...
- The one-year loan prime rate was reduced from 3.55 percent to 3.45 percent, the People's Bank of China said in a statement
- The decision is intended to encourage commercial banks to grant more loans and at more advantageous rates