UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
Economy
Explained: Inflation and its impact on GCC
It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of...
- It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of living in a country, is affecting the region?
- Inflation represents how much more expensive the relevant set of goods and/or services has become over a certain time period
Economy
Saudi job market to stay upbeat in 2022
During the past four years, the kingdom has created 555,000 new jobs as part of its plan to develop $1...
- Slump in other job markets makes candidates open to moving the kingdom for employment.
- Working on infrastructure projects underway in the kingdom will demonstrate future companies' capacity to work within different cultures and adapt to different cultures.
Business
Bangladesh to partner with UAE to boost trade in Middle East
The Federation of Bangladesh Chambers of Commerce and Industries, or FBCCI, will launch a UAE-Bangladesh Business Council next month to...
- Bangladesh’s Prime Minister Sheikh Hasina is likely to launch the business council
- The business council is expected to strengthening the trade relations with the UAE
Business
Bahrain eyes cooperation with Germany in aviation, tourism
Bahrain's Minister said the private sector plays a key role in strengthening bilateral relations, as it boosts the volume of...
- Bahrain's Minister stressed the importance of attracting more expertise and investments.
- He also highlighted the incentive packages provided by Bahrain for overseas investors.
Business
Shurooq to invest in GCC, Arab countries, Australia, says its Executive Chairman
Shurooq is currently considering in several Arab and Gulf Cooperation Council (GCC) countries, including Egypt, Saudi Arabia, Oman and Qatar,...
- Shurooq has received a proposal to establish similar entities to Sharjah Sustainable City in Australia and the US.
- It is now engaged in tourism, environment, transport and project management sectors and will soon invest in health, education and robotics.
Economy
DEWA completes Smart Grid Strategy short-term goals, installs 2m smart meters
Dubai Electricity and Water Authority (DEWA) has said it completed all short-term goals of its Smart Grid Strategy 2014-2035 as,...
- Between 2015 and 2020, it replaced all electricity and water meters with smart meters, a deployment of over two million smart meters.
- Between 2015 and 2017, DEWA fully automated its transmission network connected to the 400kV and 132 kV substations.
Oligarchs in the crosshairs as West targets Putin
Metals tycoon Oleg Deripaska from Russia has called for peace talks over Ukraine crisis "as soon as possible" between Russia...
- US, European G7 allies will set up a "transatlantic task force" to "identify and freeze" assets belonging to Russian officials and elites close to the Russian government
- One of Russia's richest billionaire, Mikhail Fridman has called the war in Ukraine a “tragedy” and called for the “bloodshed” to end
Economy
Makkah governor launches $4bn projects in the region
The new initiatives are expected to support environmental and water sustainability in accordance with the Saudi Vision 2030.
- The total cost of the 72 projects is said to be more than SAR15 billion ($4 billion)
- They are said to spread across several sectors, including water and the environment
Economy
Oil and safe havens rally, ruble sinks on Russia sanctions
Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over...
- Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine
- Russian President Vladimir Putin's decision to send troops across the border last week has sent shivers through trading floors as investors fret over a protracted war
Geostrategy
Russia on nuclear alert as Ukraine fiercely resists invasion
President Vladimir Putin ordered on Sunday Russia's nuclear forces onto high alert in response to what he called ‘unfriendly’ steps...
- Russia invaded on Thursday and quickly announced it had neutralized key Ukrainian military facilities, but fierce fighting has since raged
- Ukraine forces, backed by Western arms, are stymieing the advance of Russian troops, while the US leads Western condemnation and sanctions
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Company News
Latest News
National Leasing’s profits hit $2.37m
A jump of 28 percent in net profit vis-a- -vis H1 2022.
Business
In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
Economy
Lebanon’s central bank chief to end term with no successor
Lebanon's deeply divided political class has failed to agree on a replacement for Salameh, 73, creating another power vacuum in...
Most Read
Riyadh, Jeddah among world’s least expensive cities
Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out...
- Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out the cost of living in other cities of the Kingdom
- Affordability and stability of Saudi cities make them attractive destinations for both locals and expatriates seeking a cost-effective living environment, TRENDS points out
Economy
Saudi Arabia aims for 30% marine reserves by 2030
Dr Faqeeha commends the G20's support for the global platform CORDAP (Collaborative Action on Coral Reefs and People), which was...
- Saudi Arabia is collaborating with regional countries and the International Maritime Organization to establish the Red Sea as a special marine zone by 2025
- The Kingdom has implemented a circular strategy for the carbon economy and introduced a new waste management law to increase recycling rates
Economy
Global exports propel Saudi date industry to the top
The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$...
- The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$ 340 million
- Saudi Arabia's annual production of dates surpasses 1.6 million tons, with exports increasing by 121 percent from 2016 until 2022