‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...
Economy
S&P affirms Saudi Arabia’s A/A-1 credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...
Economy
Business
Mawani signs MoUs with Huawei, Ericsson to push Smart Ports program
The Saudi Ports Authority (Mawani) on Sunday launched the Smart Ports initiative in a bid to enable Saudi ports apply...
- The program is aimed at enabling Saudi ports to utilize 5G, AI and other technologies besides boosting their competitiveness..
- Ports account for more than 90 percent of the Saudi export movement, according to President of Saudi Ports Authority, Omar bin Talal Hariri.
Economy
Hit by sanctions, many Afghans find a savior in cryptocurrency
In the middle of a bazaar in western Afghanistan, Arezo Akrimi takes out her smartphone and, after a few taps...
- Afghanistan's economy has virtually collapsed and the country is in the grip of a crisis caused by the seizure of billions of dollars of assets held abroad.
- But digital currencies and their decentralized architecture, impervious to international sanctions, are allowing a handful of young Afghans to avoid the worst of the crisis.
Economy
Kuwait to hire 1,000 non-Kuwaiti teachers for academic year 2022-23
Kuwait’s Ministry of Education has said it will hire 1,000 non-Kuwaiti male and female teachers to fill the shortage in...
- An applicant must be a University graduate qualified to work in general education schools in 11 different specializations.
- The majors required of males are English, French, mathematics, science, chemistry, physics, biology, geology and philosophy.
Science
Tunisian eco pioneer battle to save Sahara Oasis life
The French-Tunisian setup includes the "Palm Lab," where engineers, architects and artists discuss how to conserve the oasis of agriculture.
- American Kevin Klay has been selling Date Sugar with a main market in US since 2018 and it is made through the waste of Dates
- The drip irrigation technology of ecology project make investors and farmers want to reinvest in the oasis
Business
GCC airfares soar as oil prices rise
The amplifying factors include sanctions against Russia’s aviation sector, which cast a global pall over the aviation industry.
- Several Arab airlines have decided to raise the prices of their tickets slightly
- Kuwait’s Jazeera Airways increased fares to all destinations from March 7
Business
Expo 2020 achieves another milestone, records 20m visits
Expo 2020 Dubai, the largest global gathering since the start of the pandemic, reached the milestone of 20 million visits...
- Dubai Expo 2020 is the biggest event ever to be held in the Arab world with cultural, numerous educational and entertainment experiences
- The appearances of Global leaders, sporting heroes, renowned artists and superstars formed some of the 32,000 events and attractions at the Expo
Economy
Saudi crude oil exports rose 59,000 barrels a day in January
The crude oil exports of Saudi Arabia rose by 59,000 barrels per day to 6.996 million bpd in January, according...
- The new data indicated that in January the kingdom’s exports of crude oil rose by 0.9 percent from 6.937 million bpd in December
- January also marked a substantial increase in the direct use of crude oil — such as oil burning for electricity generation
Economy
Russian wheat flour supply to Palestine to resume
The Palestinian Authority is already engaged in ongoing national efforts to diversify international markets that supply Palestine with basic commodities.
- About 15,000 tons of Russian wheat flour are scheduled to arrive in Palestine by the end of this month
- This comes despite the current Russian-Ukrainian crisis and its effects on global supply chains, especially food
Economy
Bahrain top Arab country in the World Happiness Report 2022
The annual report is published by the United Nation’s Sustainable Development Solutions Network.
- The report ranks Bahrain in the 21st position out of 146 countries
- This is an improvement by one position from last year’s report
Economy
Italy to tax energy profits to ease price burden
The amount generated is expected to help families and businesses struggling with high bills.
- The money will help fund a new €4.4-billion package to ease the pain of high energy prices
- This apparently comes on top of the €16 billion Italy has already spent in recent months
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
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...
Economy
Company News
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Erdogan defends expansion of controversial coal mine
Dramatic scenes have emerged since July 24 when Akbelen forest in the Milas district of the Aegean province of Mugla...
China posts biggest fall in exports as global demand recedes
The drop in exports was bigger than expected and the heaviest since a 17.2 percent plunge in January-February 2020, when...
Economy
Dubai Taxi Corporation unveils digital transformation plan 2022-2025
Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of...
Economy
Most Read
Economy
UAE launches finance strategy to boost government performance
Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance...
- Sheikh Maktoum bin Mohammed said the UAE will develop and implement sustainable financial policies to promote economic growth.
- The plan comprises three strategic goals, six main projects, four main goals and seven additional directives.
Business
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.
- The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology.
- This firm will help bolster Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
- The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
- There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year