Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
Economy
Saudi women’s unemployment drops to 13.7% by 4Q 2023
Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...
Economy
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
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
Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
Economy
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Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
Business
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