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
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
Economy
Economy
Wheat harvesting begins in villages of Oman’s Adam Wilayat
The Department of Agriculture and Water Resources in the Wilayat of Adam in the Governorate of A'Dakhiliyah has started harvesting...
- The cultivation of wheat crop begins in Adam in November until March each year.
- Wheat is harvested in a number of villages using modern machines instead of the traditional method.
Analysis
Policy eyed as Mideast bears brunt of climate change
Disasters caused by climate change since 2000 have killed approximately 2,600 people, affected seven million others, and caused $2 billion...
- Temperatures in the region have risen by 1.5°C over the last three decades, twice the global increase of 0.7°C
- According to the IMF, disasters caused by climate change have killed approximately 2,600 people since 2000
Business
SAMA starts consumer microfinance licenses in kingdom
The Saudi Central Bank, or SAMA, has launched licenses for consumer microfinance operations in the Kingdom. This follows the bank’s...
- Microfinance targets individuals and small businesses, including self-employed people
- Sulfah is the consumer microfinance company which is given a license by Saudi Central bank
Economy
Iran-Oman trade reaches a record $1.3b: Envoy
Ali Najafi said that during the last Iranian year which ended on March 20, Iran’s exports to Oman were worth...
- Ali Najafi said that during the last Iranian year which ended on March 20, Iran’s exports to Oman were worth 716 million dollars
- Ambassador revealed that among Iran’s neighboring countries Oman ranks 6th in importing goods from Iran
Economy
Morocco: World Bank forecasts 1.1% growth in 2022, 4.3% in 2023
"Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due...
- "Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due to the drought,” the WB said in its latest MENA Bulletin
- The economy is projected to be driven by a still solid but moderating industrial performance and a faster recovery of tourism, the WB added
Analysis
GCC exchanges recoup their losses
From the UAE to Saudi Arabia, the main indexes made up for their losses as the week came to a...
- The Abu Dhabi index fell 1.3 percent on Thursday, its biggest daily fall in more than a month
- The Dubai index on Monday climbed 1.3 percent to its highest in the previous two weeks
Economy
Over 1m medical tourists visit Iran in a year
Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health...
- Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health Mohammad Reza Tarjoman said
- Tarjoman said there are 200 medical centers that have permission to accept foreign patients underlining that Iran is ranked 46 worldwide in the area of health tourism
Economy
Lebanon: War in Ukraine means price rises amid climate crisis
There will be little to eat for many Lebanese when they break their fasts this Ramadan – but support from...
- There will be little to eat for many Lebanese when they break their fasts this Ramadan, but support from the WFP is delivering hope in the face of crushing price rises
- Working with the American University of Beirut, WFP is currently implementing a pilot project that is strengthening the adaptive abilities of rural communities
Business
Tunisia tourism revenues climb 48% to $200m by April 10
The country’s external debt services went up 5 percent, from nearly TND2 billion ($666.69 million) to about TND2.1 billion ($700.02...
- Cumulative labor income saw a 15.3-percent rise to TND1.9 billion ($633.71 million) on April 10
- This was against the TND1.6 billion ($533.42 million) on the same day in 2021
Economy
45% employees in UAE yet to save for retirement
While 44 percent of UAE residents want to retire from their jobs before they turn 55, most of them have...
- Forty percent of respondents said they would begin saving ten years or less before retirement and 53 percent of those who save put their money in conventional bank deposits
- Twenty seven percent respondents felt they can retire on less than US$ 2,500 amount per month, while the same proportion thinks US$ 5,000 will suffice
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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
Company News
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European stocks rise, China rate cut fails to ease worries
European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris...
Market Report
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...
Business
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...
Economy
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Economy
UAE’s ERC unveils housing project for victims of February quake in Syria
Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria. The...
- In April the ERC had announced its intention to build 1,000 prefabricated housing units in seven areas in the Latakia Governorate for the victims of earthquake
- The governor of Latakia, Amer Hilal, expressed his gratitdue to the UAE for implementing relief projects in Syria since the early days of the earthquake
Economy
Saudi Arabia issues tax warning to businesses: Pay up or face hefty fines
Riyadh, Saudi Arabia - Saudi authorities have issued a clear warning to businesses operating within the country: settle your outstanding...
- The warning specifically targets businesses in the commercial sector that fall under the purview of value-added tax
- VAT serves as one of Saudi Arabia’s prevailing tax systems and functions as an indirect tax levied on the purchase and sale of goods and services
Economy
GCC steps up to diversify Europe’s natural gas supply
Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia...
- Amid the Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options
- These countries have signed several long-term agreements to supply Europe with liquefied natural gas, helping to diversify Europe's energy sources and enhance energy security