Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
Economy
Business
Licensed firms and SMEs account for bulk of AFZ procurement
Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of...
- Ajman Free Zone covered 27 per cent of the total purchases and contracts of SMEs alone during the same year.
- The Free Zone's procurement policy benefits investors and business owners from more than 165 countries, said Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of AFZ Board.
Economy
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a...
- The UAE issued 21 million cheques in 2021, with an average value of $13,900
- Despite the recent decriminalization of cheque bounces, UAE businesses must still consider the risks connected with them
Economy
Iran’s Khamenei hopes for economic upturn in Persian New Year speech
Khamenei said the toughest problems encountered last year were due to "rising prices and inflation".
- Khamenei said the toughest problems encountered last year were due to "rising prices and inflation."
- Iran's economy has suffered under stringent sanctions that were reimposed by the US in 2018
Business
Houthi drone attack causes ‘temporary reduction’ in Saudi oil
Top crude exporter Saudi Arabia announced a "temporary reduction" in oil output at a facility run by energy giant Aramco...
- The Iran-backed Houthis, against whom Saudi Arabia leads a military coalition in Yemen, have repeatedly targeted the kingdom, including Aramco's sites
- The latest round of attacks comes after an oil refinery in the Saudi capital Riyadh was targeted on March 10 by a drone, an operation claimed by the Huthis
Economy
Two Ajman organizations pledge to work for women empowerment
The Ajman Business Women's Council and Umm Al-Moumineen Women's Association in Ajman will now work together to empower women. The...
- Ajman Business Women's Council and Umm Al-Moumineen Women's Association signed an MoU to work for women empowerment.
- The focus of both the organizations will be on increasing women's contribution to the process of sustainable economic development.
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
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
Company News
Latest News
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...
Economy
UAE commends UN for successful oil transfer from decaying Yemen tanker
Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer,...
Economy
UAE takes lead in advancing global climate action
Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating...
Economy
Most Read
Business
UAE ranks first globally in employing Indians, Saudi second: Minister
New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently...
- Taken together, five Gulf countries -- UAE, Saudi Arabia, Kuwait, Qatar and Oman, in that order -- are among the top destinations providing employment for Indians.
- The number of Indians in the UAE last year was 3.419 million and more than 134,000 were added in one year, India's Minister of External Affairs told parliament.
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
- Addressing climate change, promoting secure, reliable, affordable, sustainable supplies of energy are shared strategic priorities of Saudi Arabia and France.
- Both countries acknowledge the importance of implementation of the United Nations Framework on Climate Change and the Paris Agreement.
Business
DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
- Designed to be the world's largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
- The upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW as additional 433 MW capacity is currently under construction.