Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
Economy
Saudi economy grows 3.2% in 2021, the highest rate in 6 years
Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product,...
- The economy expanded in 2021 by the highest annual rate since 2015
- The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent
Economy
UAE citizens can travel visa-free to Israel
Israel has announced that all UAE citizens can now travel visa-free to Israel. The move is part of a wider...
- Both vaccinated and unvaccinated tourists of all ages are permitted to enter Israel upon presenting a negative PCR test before departure and after arriving in Israel
- The announcement follows a recent agreement between the UAE and Israel extending visa-free entry to all UAE nationals as part of the ongoing strategic partnership between them
Economy
Fed set to raise interest rates to rein in inflation
The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19...
- The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19 pandemic
- Russia's invasion of Ukraine has introduced new uncertainty in an economy battered by supply chain snarls and labor shortages
Economy
Jordan to provide facilities to its businessmen in China
Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China.
- Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China
- He added that the work is underway to develop a strategy to draw foreign investments in priority sectors, especially in industry, tourism, information technology and health sectors
Business
Warsaw seeks NATO ‘peace mission’ to help Ukraine
Polish Prime Minister Mateusz Morawiecki again called on the EU to "very quickly give Ukraine candidate status".
- Polish Prime Minister Mateusz Morawiecki again called on the EU to "very quickly give Ukraine candidate status."
- Ukraine's deputy PM has praised "the courage of the true friends of Ukraine" as the Prime Ministers of three countries arrive to show support
Economy
Oil prices plunge on China lockdowns, stocks diverge
Oil prices plunged on Tuesday as China, a major energy consumer, placed nearly 30 million people under COVID lockdown, and...
- China reported 5,280 new COVID-19 cases on Tuesday, more than double the previous day's tally
- "China oil demand risk is real," Dickson said, adding that a strengthening dollar also pressures crude prices since oil is traded in dollars
Interview
Skills gap challenge for GCC digitization, says du CEO
GCC companies should work closely with digital and software companies to expedite digital transformation, says Fahad Al Hassawi, CEO of...
- du is the second largest telecom service provider in the UAE, and its 2021 revenues grew by 5.4% to $3.19 billion
- Agility will be key to the telecommunications industry and requires telecom operators to look beyond connectivity, says al Hassawi
Economy
UAE disburses $2.17bn in insurance expenditure among beneficiaries
UAE’s estimated insurance expenditure reached more than AED8 billion ($2.17 billion) in 2021 an increase of AED499.4 million in comparison...
- The number of pensioners in Sharjah amounts to 6,692 (26 percent), while the number of pensioners in Dubai is 5,892 (23 percent).
- At 16,597 (65 percent) female pensioners outnumbered male pensioners who totaled 8,786 (35 percent).
Business
Egypt and Lockheed Martin look to boost defense ties
Egypt and American Defense company, Lockheed Martin, have discussed ways to enhance cooperation.
- Mohamed Ahmed Morsi, Egypt’s minister of state for military production, held talks with Raymond Piselli, vice president of Lockheed Martin
- Morsi noted that Egypt’s growing presence in the field of security and defence is the result of economic reforms undertaken by Egypt
Business
Playa Hotels inks Saudi resort deal
It will set up facilities along the Arabian Gulf and the Red Sea.
- Playa signed an agreement regarding the resorts with Saudi’s Tourism Development Fund on Monday
- This will contribute to enhancing the distinctive tourism experience and create local job opportunities
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Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Company News
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Borders, culture strengthen Iran-Pakistan relations
"The economies of Iran and Pakistan are inherently complementary. For example, Pakistan can be a supplier of Iran's needs in...
Economy
Interest rate raise ‘likely’ to curb inflation, says Fed official
A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further,...
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
Economy
Most Read
Geostrategy
Protests mark Beirut blast anniversary as justice eludes victims’ families
Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...
- There is no headway in the probe three years on, leaving survivors still yearning for answers
- Many protestors carrying photograpsh of the victims shouted slogans: "We will not forget"
Economy
Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce
Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
- According to FANR 2022 annual report, the body continues to attract talented Emiratis to meet its business needs, recruiting 22 citizens during the review period
- The report said that women comprise of more than 45 percent of FANR's overall workforce and hold leadership positions in key areas of the organisation
Business
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
- Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
- Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.