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
Passenger air traffic has surpassed pre-pandemic levels: ICAO
Montreal, Canada--The International Civil Aviation Organisation (ICAO) projected that passenger air traffic levels will be around 2 percent higher In...
Economy
UNGA welcomes Qatar’s hosting of 2022 FIFA World Cup
The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East.
- The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East
- The General Assembly adopted its resolution under the title "The 2022 World Cup organized by FIFA in Qatar."
Egypt economist dies, police denies ‘forced disappearance’
"According to official records in the prosecution, (Ayman) died on March 5," his brother Omar Hadhoud, a lawyer, told AFP.
- "According to official records in the prosecution, (Ayman) died on March 5," his brother Omar Hadhoud, a lawyer, told AFP
- The interior ministry meanwhile said on Sunday that Hadhoud was placed in a psychiatric facility on February 6
Business
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...
- A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
- A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
Economy
Egypt inflation rises to 12.1 percent as foreign reserves dip
Egypt’s annual inflation rate hit 12.1 percent in March, official figures showed Sunday, as foreign reserves declined by $4 billion...
- The latest figure marks an increase of more than two percent compared to the 10 percent inflation rate recorded in February -- already at a near three-year high.
- The Arab world’s most populous country has been struck by mounting economic pressures since Russia’s invasion of Ukraine in late February caused global commodity price to shoot up.
Business
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...
- Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
- Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Science
Iraq witnesses dust storm that lands dozens in hospital
Iraq is particularly vulnerable to climate change, having already witnessed record low rainfall and high temperatures in recent years.
- The storm erupted in the north of the country on Thursday, leading to cancellation of flights serving Kurdistan’s capital Arbil
- As the storm swept south, it shrouded the Iraqi capital of Baghdad and cities as far south as Nasiriyah in a ghostly orange
Economy
Famine-threatened Yemen fears impact of Ukraine war
Across the MENA region, people are struggling to secure even the most basic staples in view of soaring food and...
- More than 17 million people in Yemen face high levels of food insecurity
- Famine conditions already afflict more than 30,000 Yemenis, UN agencies said
Analysis
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when...
- Across the greater MENA region, Yemen, Jordan, Turkey, and Morocco have generated more than 10 percent of their power from solar and wind
- However, things appear poised to change very soon, with several projects that may improve the region’s overall renewable outlook
Economy
S&P degrades Russia’s forex payments rating to ‘selective default’
Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid...
- The agency does not expect investors to be able to convert the ruble payments to dollars equivalent to the amounts originally due
- Russia's finance ministry on Wednesday announced it had made a payment of almost $650 million due on April 4 in rubles
Economy
S&P keeps Kuwait’s credit ratings at A+ with negative outlook
Kuwait's long and short-term foreign and local currency sovereign credit ratings have been affirmed at 'A+/A-1' by Standard & Poor's...
- The international agency also cautioned that it could lower the ratings if no sustainable comprehensive financing arrangements are agreed
- The S&P forecasted that higher oil prices would bolster Kuwait's fiscal and balance of payments positions over 2022-2023
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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
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
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Iran-China cooperation at its best in various fields: envoy
Tehran, Iran-- China's ambassador to Iran has affirmed that his country's cooperation with Iran is at its best in various...
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...
Economy
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...
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Economy
UAE firms operating in Ethiopia enrich bilateral ties
There are more than 121 Emirati companies operating in the Ethiopian market, contributing to enriching relations between the two countries...
- The public and private sectors in the UAE and Ethiopia have been keen to enhance economic cooperation, leading to increased investments and intra-trade values
- An increased coordination between the two countries gives Emirati companies a greater impetus to invest in various sectors in Ethiopia, sys a key UAE official
Economy
Unrelenting demand propels Dubai home prices up by 17% in 12 months
Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023,...
- Villa prices have experienced stronger growth, increasing by 51% over the same period, with an average price of AED 1,520 per square foot
- Prime neighborhoods like Jumeirah Bay Island, Emirates Hills, and Palm Jumeirah have seen extraordinary growth, with villa prices up by 125% since January 2020
Science
Saudi CST urges public for feedback on ‘space use plan’ for frequency spectrum
Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space...
- It has given all "interested parties" in the kingdom and outside a time until September 10 next month to provide views and observations
- Early this year, CST announced the formation of a Space Entrepreneurship Alliance to achieve growth and sustainability in the sector