GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In...
Economy
NEOM announces Treyam, its premier lagoon destination
Neom, Saudi Arabia - NEOM, Saudi Arabia’s futuristic mega city will now have a premier resort where the spectacular desert...
Economy
Business
Algerian, Chinese firms announce $7 billion phosphate mining deal
Four Algerian and Chinese firms announced a nearly $7 billion deal on Tuesday to relaunch a phosphate mining project set...
- The $7 billion deal to relaunch a phosphate mining project is set to produce millions of tons of fertilizer annually.
- The deal comes three years after Algerian state energy firm Sonatrach and Chinese firm Citic announced a $6 billion deal to mine the same deposit in Tebessa province.
Economy
Palestinians in Gaza give up higher studies for Israeli wages
Gaza, a Palestinian territory of some 2.3 million people under Israeli-blockade since 2007, suffers from an unemployment rate above 50...
- And Israeli work permits have become a rarity for Palestinians in the last decade or so -- making the few on offer seem like gold dust.
- Under current terms, workers from Gaza entering Israel are only covered for accidents if their Israeli employer agrees to pay for insurance.
Geostrategy
Hellscape in Mariupol as UN chief pleads for Ukraine
UN chief says that around 100,000 people in Mariupol have been forced to live in a complete blockade with no...
- UN chief says that around 100,000 people in Mariupol have been forced to live in a complete blockade with no food, no water, no medicine
- One group fleeing through humanitarian route from Mariupol were "captured by the occupiers", said Ukrainian President
Business
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.
- Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
- The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Business
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...
- Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
- With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
Geostrategy
Foreign children risk languishing in Syria for decades: charity
Save the children data showed that 18,000 Iraqi children and 7,300 minors from 60 other countries are stuck in Syrian...
- Save the children data showed that 18,000 Iraqi children and 7,300 minors from 60 other countries are stuck in Syrian camps
- United Nations data shows that around 56,000 people live in al-Hol, an overcrowded camp plagued by murders and escape attempts
Business
Vietnam experts see Middle East as promising market for country’s exporters
Vietnam has signed economic, trade and scientific-technological cooperation agreements with five GCC countries.
- Vietnam has mostly traded with six member nations of the Gulf Cooperation Council in the Middle East region.
- Trade between Vietnam and the GCC countries has surged from US$2.7 billion in 2012 to US$12.5 billion in 2021.
Economy
90 percent of Arab transactions made in six currencies: AMF director general
Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General...
- The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro.
- Buna Payment Platform is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment: AMF
Geostrategy
Kuwait, KSA agree on plan to develop joint offshore gas field
The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
- The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company
- The gas output will be divided evenly between the Gulf Arab neighbors, at a time where soaring consumption has led to growing demand for energy in the two countries
Science
April 2 will be first day of Ramadan: International Astronomical Center
It will be possible to see the crescent with a telescope, but not the naked eye, from parts of the...
- Seeing the crescent on Friday, April 1, is not possible with the naked eye from anywhere in the Islamic world
- It can be viewed only through a telescope, but with great difficulty, from parts of Africa and the Americas
Most Read
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
GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In...
Economy
Company News
Latest News
Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
Infographics
Lebanon detains 134 Europe-bound migrants near Syrian border
BEIRUT, LEBANON -The Lebanese army arrested 134 migrants near the northern border with Syria on Saturday after foiling their attempt to...
Geostrategy
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
Business
Most Read
Economy
Youth play crucial role in building sustainable future
"The UAE is committed to a sustainable future, and we believe that our youth are the key to achieving this...
- The UAE is committed to a sustainable future, says Awaidha Murshed Ali Al Marar, Chairman, Abu Dhabi Department of Energy
- By empowering young people with green skills, we can help them shape the energy landscape for the future, adds the official
Business
ADX profits vault to $11.70bn
It posted gains in one week on the back of company results.
- The value of stocks on the bourse increased to $781 billion at the end of Friday's session as against $770 billion at the close of last Friday
- Over the week, the equities market saw an inflow of liquidity exceeding $2.34 billion, split between $1.81bn in ADX and $539m in the DFM
Economy
Global inflationary waves may hit Arab world’s growth
Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at...
- Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at 3.4% in 2023, down from 5.6% in 2022
- Diversified Arab economies are better equipped against economic shocks, says Arab Monetary Fund, adding that the regional inflation may hover around 6.8% for 2023