Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
Business
Economy
People flee Lebanon to Iran in search of employment
Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...
- Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar
- The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty
Economy
War-torn Yemen holds breath as breakthrough truce begins
The UAE has expressed its "support" for the UN ceasefire, which was also welcomed by the US, UN chief Antonio...
- Houthi rebels and the Saudi-led coalition agreed to stop all ground, air, and sea military operations in Yemen for two months
- Both sides involved in the Yemen conflict have agreed to open roads in Taez and other governorates
Economy
Gulf countries warm up to waste-to-fuel plans
Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...
- Solid waste management is one of the most critical challenges facing all GCC countries
- Construction waste accounts for 53% of the total solid waste generated in the Gulf countries
Business
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...
- Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
- Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
Business
Iraq exports oil worth $11bn in March, a fifty-year record
Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid...
- The figures published late Friday are preliminary data but final data "generally does not vary" much
- Oil revenues are financially crucial for Iraq's government, with the country mired in a financial crisis
Business
Dubai’s real estate market to ramp up going forward: Report
Over 84 percent of real estate professionals expect competition within Dubai’s real estate market to ramp up going forward, according...
- More than two-thirds (68 percent) of respondents in Dubai said they had experienced growth over the previous twelve months
- In November 2021, Dubai registered the best month of sales on record, with a total of 6,989 transactions worth AED17.95 billion
Economy
US allies agree to tap emergency oil reserves again
IAE repeated its warning that the prospect of large-scale disruptions to Russian oil production "is threatening to create a global...
- A ministerial meeting of IEA chaired by US Energy Secretary decided to tap its emergency oil reserve fifth times since 1991 to calm soaring energy prices
- IEA members had already vowed to release 62.7 million barrels of oil encouraged members to support Ukraine in the supply of oil products
Geostrategy
Jordan, US discuss ways to enhance strategic partnership
Jordan’s Deputy Prime Minister Ayman Safadi and US Secretary of State Antony Blinken discussed the new MoU for the strategic...
- A new MoU between the two countries frames the US aid for Jordan, replacing the current memorandum, which expires in September 2022
- According to the current MoU, the US has provided Jordan with annual support over the past four years, which amounted to 1.65 billion in 2021
Business
ADPG profit up Dh397m
The company’s revenue rose to AED 3.9 billion.
- AD Ports Group has evolved into a vertically integrated ecosystem of businesses that include Economic Cities & Free Zones, Ports, Logistics, Maritime, and Digital services
- As a strategic gateway to Abu Dhabi, AD Ports Group generated 21 percent of all non-oil related GDP in the Emirate, according to Oxford Economics
Economy
Jadwa Investment says Saudi economy to grow 7.7% in 2022
The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's...
- The firm sees the oil sector increasing by 15.5 percent, but it also estimates the level of ‘non-oil activities’ to grow by 3.4 percent
- It made the forecast as it revealed the Kingdom’s non-oil Purchasing Managers' Index hit its highest level for three months
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Company News
ADNOC L&S secures big contract
Business
Latest News
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...
Geostrategy
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...
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,...
Economy
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Economy
Saudi Arabia and India sign agreement on digital economy
Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing. The agreement...
- The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning
- It also aims at building robust strategic partnerships that promote innovation and the growth of the digital economy
Interview
Challenges prevail as UAE adapts to remote work
The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries,...
- The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Doherty of Connect Resources tells TRENDS
- The UAE government has granted ministries and federal entities the flexibility to implement the remote work system for federal government employees on some working days
Economy
‘UAE’s humanitarian endeavors resonate globally’
"The UAE's humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope. We have...
- The UAE's humanitarian approach is woven into its overarching vision and exemplified by the noble characteristics of the country's various initiatives, says the MoHAP minister
- Its humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope, adds Abdulrahman bin Mohamed Al Owais