Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
Economy
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
Business
Saudi ports throughput tonnage rise by 7.18 percent during Q1
The throughput tonnage at Saudi ports increased by 7.18 percent during the first quarter of 2022, reaching a total of...
- The number of transshipment containers increased by 5.91 percent, with a total of 1.3 million TEUs.
- Saudi ports have recorded a fall in container throughput which declined by 1.27 percent with a total of 2.5 million containers.
Economy
Euro slides to two-year low as ECB dithers over rate hike
The euro slumped to a near two-year low on Thursday after the European Central Bank remained vague about when it...
- The drop in the single currency helped boost European stocks, while Wall Street equities resumed a downward slide amid worries over tightening US monetary policy
- The euro took a knock after the ECB's decision, slipping under $1.08 for the first time since May 2020, falling as low as $1.0758
Economy
Sri Lanka imposes fuel rationing as economic crisis worsens
Cash-strapped Sri Lanka imposed fuel rationing on Friday in another worsening of the economic crisis that has sparked widespread demonstrations...
- The state-run Ceylon Petroleum Corporation (CPC), which accounts for two-thirds of the retail fuel market, said it would limit the quantities drivers can buy
- Energy ministry officials said they expected the country's other fuel retailer, Lanka IOC -- the local unit of Indian Oil Corporation -- to follow suit
Economy
Investopia first UAE trademark to be registered under Madrid Protocol
The Ministry of Economy (MoE) has received the request to register the Investopia Summit trademark internationally, in line with the...
- The UAE acceded to the Madrid Protocol on 28th September 2021 to enable trademark owners in the country to protect their trademarks in more than 125 member countries.
- Investopia Summit is one of the strategic projects announced last September by the UAE government as part of the first set of 'Projects of the 50.'
Economy
Fitch revises Saudi Arabia’s outlook from stable to positive
The international credit rating agency ”Fitch” updated its credit report for Saudi Arabia affirming its “A” rating for the Kingdom...
- Fitch’s outlook revision makes Saudi Arabia one of the few countries globally, and the only G20 country, to have received two consecutive upward outlook revisions in 2022
- Fitch also forecasts the government debt to GDP to remain below 30% until 2025, which is approximately half the median level of comparative countries with similar credit ratings
Economy
Iraqis queue for fuel as stations protest government
Motorists in Iraq formed long queues for fuel Thursday after some owners of filling stations shut off their pumps to...
- Iraq is the second largest producer in the Organization of the Petroleum Exporting Countries.
- But the country, with a population of about 41 million, is also grappling with a major energy crisis
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
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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