Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
Economy
Ten years from home World Cup, Saudi sizes up ‘huge challenge’
As the only  bidder, Saudi Arabia was anointed host of the 2034 World Cup last October by FIFA. Infrastructure is...
Economy
New world order? Pandemic and war rattle globalization
According to a professor at Ghent Institute, the pandemic did not bring radical changes in terms of reshoring but the...
- The Ukraine crisis has highlighted Europe's and especially Germany's heavy dependence on gas supplies from Russia
- The US warned China that if it provided material support to Russia against Ukraine, it would would face 'consequences'
Economy
Palestine elects West Bank councils in rare exercise of democracy
Central Elections Commission chief Hanna Nasser said a number of candidates had been arrested for political reasons.
- Saturday's second round of vote in West Bank was held in 50 towns; the first round in December covered 154 villages
- Because of the constant delay, Presidential elections have not been held for 15 years in Palestine
Economy
Saudi Arabia eases rules for US, UK, and Schengen visa holders
The move comes two weeks after the country lifted all Covid-19-related entry restrictions.
- Citizens of any country can now receive a 12-month tourism visa on arrival in Saudi Arabia without needing to apply in advance
- However, they will have to hold one of the three visas, and travel on one of the country’s national carriers: Saudia, Flynas, or Flyadeal
Economy
Riyadh, Dubai lead IPO surge in GCC
For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as...
- The proceeds of IPOs from Riyadh to Abu Dhabi have totaled $4.8 billion since the beginning of 2022
- Saudi Arabia has the busiest stock market in the Middle East in terms of IPO activity
Economy
S&P gives Saudi economy positive rating after recovery
S&P has revised its outlook for Saudi Arabia from a stable to positive in the light of the recovery of...
- The positive outlook reflects the improved GDP growth and public finances in the medium term, linked to the Kingdom’s recovery from the COVID-19 pandemic impact
- The agency also expected that the Kingdom, in the medium term, will continue its policy to drive growth in the non-oil sectors through planned economic diversification
Economy
Oil prices, stocks higher after EU snubs Russia ban
European stocks, which had been firmly higher earlier in the session, ended the day with only modest gains
- European stocks, which had been firmly higher earlier in the session, ended the day with only modest gains
- Bitcoin rose above $45,000 as Moscow is expected to accept cryptocurrency in exchange for Russian gas
Economy
UAE expats seek extra citizenship cushion
More than ever before, wealthy expatriates in the UAE as well as the world are pursuing citizenship options elsewhere.
- Citizenship investments have become popular among foreign expatriates living in the UAE
- Having a Plan B is one of the benefits of getting a second citizenship, especially in uncertain times
Business
UAE and Dutch export credit firms to bolster cooperation, facilitate halal trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding (MoU) with its Dutch counterpart...
- Etihad Credit Insurance and its Dutch counterpart Atradius DSB to bolster collaboration through joint strategic projects.
- The partnership also seeks to facilitate stronger halal trade through ECI’s Sharia-compliant finance solutions.
Business
Saudi Arabia wants Trojena on global tourism map
Trojena is the new mountain tourism destination whose establishment was recently announced by Saudi Crown Prince Mohammed bin Salman.
- Trojena aspires to redefine visitors’ and residents’ perceptions of mountain tourism
- The project will be launched in 2026 and will be located in the heart of NEOM
Economy
Palestinian trade deficit rose by 1 percent in Jan 2022
Exports decreased in January 2022 by 16 percent compared to December 2021.
- Exports decreased in January 2022 by 16 percent compared to December 2021
- The imports, on the other hand, slumped in January 2022 by 3 percent compared to December 2021
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
Economy
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Saudi Arabia is largest Islamic finance market, with over $827bn assets
Riyadh, Saudi Arabia - Saudi Arabia boasts the world's largest Islamic finance market, with combined Islamic assets across various sectors...
Economy
Under UAE Presidency, COP28 will lead global efforts to protect the planet, safeguard future generations
"The UAE possesses essential capabilities such as modern infrastructure, a commendable track record in sustainability and environmental conservation, recognition as...
Economy
Nearly 40 migrants rescued, others found dead off Cape Verde
The boat was spotted on Monday almost 200 miles from the island of Sal by a Spanish fishing boat, which...
Geostrategy
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Economy
New industrial licenses surge 17% in first year after Abu Dhabi Industrial Strategy launch
The number of new industrial Rowad permits issued in Abu Dhabi increased from 204 to 238 from July 2022 to...
- $15.36 billion in capital investments made by manufacturing facilities moved to the in-production phase over the year
- The number of operational manufacturers in the emirate now stands at 966, up from 922 manufacturers at the end of H1 2022
Economy
Oil price, COVID-19 spur Arab world’s public finance
Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term growth.
- Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term economic growth
- In 2022, global, regional, and local inflation led to a decline in public revenues and expenditures in the Arab world, while the public budget deficit fell from 6.7% to 2.1%
Videos
Five skills workers require in real estate
Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance...
- Saudi Real Estate General Authority introduces 12 new roles, including positions like real estate broker, advertiser, and property manager
- The initiatives are aimed at boosting the real estate sector's contribution to the Kingdom's GDP, enhancing the role of non-oil sectors