Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
Business
Economy
Russia invasion of Ukraine pushes Turkey inflation to record 61.1%
Inflation was up from 54.4% in February to 61.14% in March.
- The weakening lira and the rising cost of living has become a major source of discontent as President Recep Tayyip Erdogan faces election next year
- The Turkish currency was stable following the latest inflation data, trading at 14.7 lira against the dollar and 16.2 lira against euro
Business
76.5% of firms in Dubai recorded growth during Expo 2020: Report
Dubai Chamber of Commerce facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting...
- Titled, 'Business Integration for Growth, Digital Transformation and Global Partnerships' the report was developed by the Chamber in collaboration with Oxford Business Group
- Dubai Chamber of Commerce organized 98 events during Expo 2020 Dubai, which were attended by more than 25,000 participants from over 130 countries
Economy
UAQ signs agreements to support blue economy strategy
The emirate of Umm Al Quwain has signed a series of agreements to enhance cooperation and partnership to achieve its...
- In 2017, the World Bank defined blue economy as the ‘sustainable use of ocean resources for economic growth, improved livelihoods, and jobs’
- The aim of UAQ’s Sustainable Blue Economy Strategy is to enhance investment attractiveness while developing the natural, cultural, and human wealth
Geostrategy
Nearly 100 die in new Mediterranean boat tragedy: UN, MSF
Prior to the latest tragedy, the UN's International Organization for Migration had recorded 367 deaths in the Mediterranean so far...
- The commercial tanker Alegria 1 rescued four people from an overcrowded boat carrying hundreds of migrants through the Mediterranean sea
- 'Libya is not a place of safety,' said Doctors Without Borders while stressing that survivors 'are in need of urgent protection and care'
Opinion
COP28: An opportunity to create a new narrative
The COP28, to be hosted in Dubai in 2023, is at a convenient time frame away from the recently concluded...
- The Middle East, with its long-standing water and food scarcity, arid/semi-arid climate, desert conditions, and a lack of groundwater resources, is key victim of global warming
- Ahead of hosting COP28, the UAE is well-positioned to press ahead with its strategies for sustainable food, water and agriculture systems
Videos
UAE, Saudi Arabia in key global pension index
Here’s a look at what landed the UAE and Saudi Arabia among some of the better countries with a pension...
- A good pension scheme could help a person retire with varying degrees of financial independence
- It depends on factors like their monthly pension amount, passive income, and overall expenditure
Economy
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics.
- The country’s GDP inched up by 2.6 percent in the fourth quarter of last year compared to the same period in 2020
- The construction sector expanded 6.1 percent in the reporting period, followed by the extractive industries at 5.6 percent
Economy
UN talks on climate solutions wrap up two days into overtime
Two-weeks of virtual talks were contentious from the start, as nearly 200 nations grapple with hard choices about how to...
- Two-weeks of virtual talks were contentious from the start, as nearly 200 nations grapple with hard choices about how to rapidly purge carbon pollution from their economies.
- The UN's Intergovernmental Panel on Climate Change (IPCC), due to be published on Monday, will detail how industries must be reimagined to cut greenhouse gas emissions
Economy
Britain may build seven nuclear power plants by 2050
Britain could build up to seven new nuclear power plants by 2050, as well as offshore wind to diversify energy sources,...
- Britain has set itself a target of carbon neutrality by 2050 and the government could publish a delayed new energy security strategy
- About 21 per cent of Britain's electricity comes from 15 nuclear reactors today, according to Energy UK trade association
Economy
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...
- Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
- The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy
Company News
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ADNOC L&S secures big contract
Business
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