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...
US consumer inflation in Feb up as Federal Reserve mulls rate cut
The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...
Economy
Economy
Over 27,800 new firms join Dubai Chamber of Commerce in 2021
Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020,...
- The Chamber said it also achieved its goal of becoming 100 percent paperless by the end of 2021, representing an important milestone in its digital transformation mission.
- The value of exports and re-exports of Dubai Chamber of Commerce members amounted to AED227 billion.
Economy
Abu Dhabi’s agricultural production in 2020 reaches $3.72 billion
Abu Dhabi's agricultural production in 2020 was valued at AED13.7 billion ($3.72 billion) in 2020, with an increase of 12...
- Crop production reached 421,524 tons, about 59.6 percent of the total agricultural production, with an increase of 33 percent compared to 2017.
- Dates made up 61 percent of the total plant production with about 258,335 tons, compared to 39 percent of vegetable and fruit production.
Business
McDonald’s, Coca-Cola join US firms halting Russia operations
Several of these companies, symbols of American cultural influence in the world, have been the subject of boycott calls on...
- Several of these companies, symbols of American cultural influence in the world, have been the subject of boycott calls on social media
- Starbucks, Coca-Cola and PepsiCo announced their own decisions to halt or restrict business in quick succession, noting the growing human cost of the invasion
Geostrategy
Jordan and Morocco keen to boost bilateral cooperation, regional development
Jordan Senate President Faisal Fayez Monday held talks with Moroccan officials in Rabat on bolstering Jordan-Morocco cooperation and the regional...
- Jordan's Senate President Faisal Fayez held the discussions with his Moroccan counterpart Naam Miyara in Rabat.
- Fayez hailed the role of King Abdulla II and that of Morocco's Mohammed VI in strengthening the bilateral ties.
Economy
Female empowerment key to Gulf economic growth
Several initiatives taken by Gulf states demonstrate women will play a key role in achieving the transformational goals.
- Women's hiring in GCC countries has increased substantially during the past decade.
- Saudization and Emiratization of jobs is likely to see a surge in the number of women joining the workforce.
Business
Number of educational firms in Ajman Free Zone grew by 17 percent in 2021
The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to...
- Ajman Free Zone is home to more than 240 educational facilities in 2021.
- AFZ attributed the growth to its strategic location, modern facilities and infrastructure, innovative and seamless services.
Business
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.
- Mortgage deals worth $48.27 million was also recorded in Dubai
- This was in addition to 70 gift transactions amounting to $34.5 million
Infographics
GCC nations see varying CPI in last 5 years
GCC countries have been witnessing a varying degree of change when it comes to Consumer Price Index performance.
- CPI is used to measure the average change in prices — of a fixed basket of goods and services that consumers pay for — over time
- Consumer Price Index also happens to be the one index that is most widely used to measure inflation overall
Business
UAE Chambers, Indian Ocean Rim Association explore enhancing cooperation
Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in...
- Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in boosting cooperation with countries of the IORA
- He made this statement during his meeting at Expo 2020 Dubai with the visiting Chair of the Indian Ocean Rim Business Forum (IORBF) Fazal Shaikh
Economy
Remittances: Ukraine flows may rise by 8 percent, Central Asian countries hit
Remittances to Ukraine, which were around 12 percent of its GDP and nearly three times the size of foreign direct...
- Remittances were around 12 percent of Ukraine's GDP and nearly three times the size of foreign direct investment in 2021.
- Azerbaijan, Armenia, Tajikistan, and Uzbekistan received more than 50 percent of their remittance inflows from Russia from Q1-Q3 2021.
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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...
Company News
Latest News
Saudi Arabia extends voluntary 1mbpd oil cut to September
Riyadh, Saudi Arabia -- Saudi Arabia will extend the voluntary 1 million barrels per day cut, announced in July, to...
Business
EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors.
Business
Most Read
Business
Kenya suspends Worldcoin crypto over privacy concerns
Users who registered with the Worldcoin cryptoproject in Kenya were offered 25 free Worldcoin tokens worth about 7,000 shillings ($45),...
- The Worldcoin Foundation said demand for a World ID in Kenya had been "overwhelming" and as a precaution, verification services had been "temporarily paused"
- Kenya has been battling soaring inflation and a jobs crisis, particularly among the young, prompting many people to flock to register with Worldcoin in exchange for cash
Economy
Global trade in goods, services worth US$31trn in 2022: WTO
Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the...
- In 2022, China retained the top position as the top merchandise exporter, but its share fell to 14 percent from 15 percent
- Exports of fuel and mining products recorded a 19 percent increase per year between 2019 and 2022, touching US5,158 billion in 2022
Business
Agthia Group profit vaults 6.6%
The net profit rose to US$39.21m in H1 of 2023.
- The company's revenue jumped 10.3 percent to $600 million, reflecting a strong volume and value performance from dates
- EBITDA growth was ahead of revenue, up 18.3% year-on-year to $87m, reflecting strong growth in profitability across snacking and water