Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report
Economy
Morocco announces over $200m in fuel aid for truckers
The package, reached after weeks of pressure including a nationwide strike by truckers demanding price controls, covers 180,000 vehicles
- The package, reached after weeks of pressure including a nationwide strike by truckers demanding price controls, covers 180,000 vehicles
- The aid will be available to transporters from early April, via an online portal, the government said
Business
Friendly policies woo major crypto firms to Dubai
The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.
- Dubai's VA Exchange License allows FTX to be the first to provide regulated trading and clearing services for crypto-specific derivatives.
- The UAE is the third-largest crypto market in the region, trailing Turkey and Lebanon.
Business
DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the...
- This will reportedly help to provide value-added services and facilitate doing business
- It would contribute to enhancing the competitiveness and sustainability of Dubai's business sectors
Economy
Dubai ruler issues law on Local Military Pensions and Social Security Fund
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security...
- The fund seeks to improve the quality of services offered to its beneficiaries and ensure that all the rights and insurance needs of contributors, pensioners are met.
- All liabilities and assets of the Local Military Pensions and Social Security Division at the DoF will be transferred to the Fund, once the Law comes into effect.
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
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
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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...
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Lebanon freezes former central bank governor’s bank accounts
Seen as a key culprit in the country's dramatic economic crash, former governor Riad Salameh's bank accounts were ordered to...
Economy
ESG shapes MENA region’s urban regeneration strategy
ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and...
Economy
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Geostrategy
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
- The Russian leader stressed that the forum had earned recognition as one of the world’s largest exhibitions of advanced military equipment.
- Putin said the event makes a significant contribution to the development of Russia’s multifaceted ties with other countries.
Business
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.
- For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
- There was an increase in debt for financing the firm’s acquisitions last year.
Economy
Saudi Arabia to introduce stricter labour fines, penalties to ensure workers’ rights
Riyadh, Saudi Arabia - The Saudi Ministry of Human Resources and Social Development (MHRSD) is set to introduce a system...
- The companies will face fines for infringements, including the employment of foreign workers without proper permits and disregard for health and safety protocols
- Fines ranging from $400 to $1,333 will be slapped for non-compliance with official health and safety regulations, coupled with inadequate measures to protect workers