Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...
Economy
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
Geostrategy
Kyrgyzstan and Ras Al Khaimah to expand cooperation in investment, trade
Kyrgyzstan and the UAE have discussed enhancing the investment and trade cooperation between the two sides. Mohamed Ali Musabbeh Al...
- Both sides agreed at a meeting to organize a business visit by a delegation from the chamber to Kyrgyzstan.
- The meeting also discussed several projects and investment opportunities that will increase the trade exchange between Kyrgyzstan and Ras Al Khaimah.
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
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Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...
Economy
Company News
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Meeza to offer 50% shares in IPO
Business
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.