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
IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Economy
Qatar, Iran ink bilateral pacts in aviation sector
An agreement to increase the number of flights between Qatar and Iran was also signed.
- An agreement to increase the number of flights between Qatar and Iran was also signed
- A series of meetings were also held between the two sides to enhance cooperation in the transport sector
Economy
Palestine wheat stocks could run out within 3 weeks
The cost of wheat flour in Palestine has already surged by nearly 25 percent because of the Ukraine crisis.
- Most households in the Gaza Strip are now buying food on credit
- Many families are eating less and lower quality of food items
Economy
Jordan Interior Ministry introduces 5-year entry visa
The decision also grants visa holders a temporary three-month stay that is obtained directly at border posts on each trip.
- The decision also grants visa holders a temporary three-month stay that is obtained directly at border posts on each trip
- The ministry said that it is working to create a safe environment for investors and simplifying procedures for their travel
Geostrategy
From Denmark to Portugal, Europe ups effort to quit Russian gas
In Denmark, large black pipes are about to be buried in a muddy trench, as construction of a gas pipeline...
- In Middelfart in central Denmark, work resumed last month on the Baltic Pipe project intended to help Poland reduce its dependence on Russian
- In southern Europe, Spain and Portugal are strengthening an alternative supply route to help Europe wean itself off Russian gas
Infographics
How do MENA oil prices compare with the world?
Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions...
- Russia is a major supplier of oil to European countries and the United States, besides other countries
- However, they are not accepting crude from Russia anymore, pushing up prices of oil from elsewhere
Economy
WTO: War in Ukraine could halve 2022 global trade growth
Russia's invasion created a crisis of 'immense proportions' and a 'severe blow' to the global economy. Russia's war in Ukraine...
- Shares of Russia and Ukraine in overall world trade and output are relatively small but they are important suppliers of essential products, notably food, and energy
- Europe is the main destination for both Russian and Ukrainian exports and therefore is likely to experience the heaviest economic impact
Opinion
Cybersecurity – The rush to catch up with reality
The invasion of Ukraine was a major wake-up call globally for both governments and private firms. Small-to-medium businesses need to...
- The number of cyberattacks against small-to-medium businesses has increased by 150 percent over the past two years, and the companies’ defenses have not grown accordingly
- Shortage of workforce, which needs to grow by 65 percent for organisations to be able to sufficiently defend their critical assets, is adding to the cybersecurity woes
Economy
UAE approves formation of council for digital economy
The United Arab Emirates (UAE) has given go-ahead to the formation of a digital economy council in a cabinet meeting....
- The strategy aims to double the contribution of the digital economy to the UAE's GDP from 9.7 per cent to 19.4 per cent within the next 10 years
- The maturity of GCC digital economies could match that of Organization of Economic Co-operation and Development (OECD) countries within five years if they continue at the same pace
Business
Saudi Eastern Province launches 11 investment projects in Dammam
Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis. The Undersecretary for Investments and Revenue Development, Eng....
- The launch of these investment sites is part of the objective of 40 investment projects with an area of 3 million square meters.
- The duration of investment projects is 25 years, subject to extension, according to Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi.
World Bank warns of bleak economic outlook for Ukraine, region
The conflict also has caused prices of grains and energy to soar.
- The World Bank's recent report has revealed that Russia will see an 11.2 percent decline in GDP as its economic consequences invading Ukraine
- World Bank has predicted that Ukraine's economy can collapse by 45.1 percent in 2022
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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
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
Company News
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Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...
Geostrategy
Carbon neutrality strategy to propel green transition
This ambitious strategy, commissioned by the ASEAN Member States and with the support from the Australia for ASEAN Futures (AUS4ASEAN)...
Economy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
Economy
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Economy
Saudi Arabia and Kazakhstan to boost environment, agriculture ties
Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture. The strengthening...
- The discussion happened during a meeting between President of Kazakhstan and Saudi Arabia's Minister of Environment, Water and Agriculture in Astana
- Both leaders explored opportunities to boost trade in agricultural products, and discussed issues concerning environment, water and food security
Malaysia’s edible oil industry eyes Middle East market
As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing...
- As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing demand for edible oils and fats
- Enticing partnership prospects exist in the palm oil sector between Malaysian and Middle Eastern companies, with common halal food standards providing a strong foundation
Geostrategy
Over 113 Emirati projects in Ethiopia, trade exceeds $6bn, says UAE envoy
ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the...
- Masdar signed a joint development agreement with the Ethiopian government in January 2023 in Abu Dhabi to develop two solar power plants.
- Ethiopia is a key investment partner for the UAE in East Africa, as it has a large and emerging consumer market of over 100 million people.