Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...
Economy
Innovations make Dubai Airport soar to new heights
In 2023, Dubai International Airport ranked second globally in passenger count and was recognized for having the largest seat capacity...
- In 2023, Dubai International Airport ranked second globally in passenger count and was recognized for having the largest seat capacity in international flights.
- In 2019, the airport surpassed pre-COVID-19 levels with 54 million seats, and a forecast predicts up to 4% passenger traffic growth across UAE airports in 2024.
Economy
‘Gulf-Korea FTA marks historic economic milestone’
"The implementation of such free trade agreements follows directives from GCC leaders aimed at strengthening economic ties with other countries...
- The GCC's agreement with Korea, covering 18 chapters including goods, services, and digital trade, underscores its dedication to global economic integration.
- Following its recent trade deal with Pakistan, the GCC's new agreement with Korea highlights its robust economic status, thanks to dedicated negotiators.
Business
Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
- The draft was presented to the council by Sheikh Mohammed bin Saud Al Qasimi, Head of the Sharjah Finance Department for a final review and approval
- After a final review, the council approved the draft law regarding the 2024 general budget for the Sharjah Government departments
Economy
Tunisia, Saudi Arabia sign 7 MoUs in various sectors
Tunis - Tunisia and Saudi Arabia signed seven memoranda of understanding in various fields and sectors on Wednesday afternoon The...
- The MoUs encompass various areas such as water, environmental protection, agricultural scientific research, climate and meteorology cooperation, tourism and industry
- Tunisian minister Boughdiri stressed her commitment to enhancing collaboration between the two nations, highlighting the significance of these agreements
Economy
UAE’s hiring landscape sees rise in homegrown talent
"The challenge today is not just in assimilating this fresh talent but in bridging the gap between them and the...
- New graduates bring unique lifestyles and perspectives to the workforce.
- The generational divide: From self-made success to a reliance on support.
Business
GCC forges ahead in sustainable tech initiatives
In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
- In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant green transition in the region.
- The GCC's commitment to sustainable technology initiatives, including advancements in renewable energy, green hydrogen, and smart city solutions, make it a global leader.
Economy
Dubai real estate sales near record $109bn in 2023
Dubai, UAE -Â Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...
- The momentum in the real estate market in the emirate will continue during the next year, according to Walid Al Zarooni, CEO of the W Capital.
- The residential real estate markets, Al Zarooni said, may remain at the investors radar during 2024 considering the latest trends in the market
Economy
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
- The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
- Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.
Economy
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...
- According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
- The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Economy
Morocco doles out aid to low-income families
The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social...
- Beneficiaries will receive a direct monthly payment starting at 500 dirhams ($50)
- The aid to families was expected to cost Morocco $2.52 billion through 2024
Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
Company News
Latest News
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
Economy
Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
Most Read
Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
- The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks
- Consideration will be given to the credit rating of each bank in this process
Economy
Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
- New investments surged by 63 percent, with 891 local and foreign investments secured.
- The number of factories rose to 6,443, alongside 7,946 industrial, logistical, and investment facilities
Economy
Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...
- Flowwow has observed a 65% rise in online purchases from local UAE brands in March 2024 compared to last year
- The preference extends to cosmetics and fragrances, with a notable rise in demand for handmade varieties