ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
IMF chief urges countries to strengthen independence of central banks
"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates...
Economy
Economy
Tunisia allots $10.4m to ‘social and solidarity economy’
Tunisia has devoted a budget of 30 MD ($10.4m) to the social and solidarity economy for the next three years.
- Minister of Employment and Vocational Training Nasreddine Nsibi said this during a seminar
- The Minister stressed that the social and solidarity economy will allow the creation of new jobs
Economy
World Bank to support Iraq higher education with $5m
The World Bank (WB) announced that it would support the higher education sector in Iraq with an amount of $5...
- The project of World Bank will support the Ministry of Higher Education and Scientific Research in Iraq
- World Bank will also help to develop centers of excellence in sectors of agriculture and renewable energy
Economy
UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion
The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...
- The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
- China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Arts & Culture
Forward-looking UAE museum looks into the future
The Museum of the Future along Dubai's main highway has been touted as the 'world's most beautiful building'.
- Its organizers have said the visitors will be taken “on a journey of the year 2071”.
- Many believe the Museum of the Future is UAE’s one more attempt to boost its soft power as a trading and tourism hub and to diversify its economy away from oil.
Economy
Meta and UAE’s initiative for SBMs launch ‘Boost with Facebook’ program
Meta and The Entrepreneurial Nation program have launched ‘Boost with Facebook’ program in the Emirates that is aimed at attracting...
- The Entrepreneurial Nation, Ministry of Economy's initiative, helps entrepreneurs set up as well as expand their ventures through PPP.
- There are around 350,000 SMBs in the UAE, accounting for 86 percent of the labor force in the private sector and making up over 60 percent of GDP.
Economy
Bahrain provides unemployment benefits to 31,099 people in 2021
Bahrain government has provided unemployment benefits to 31,099 citizens in 2021, according to the country’s Labor Minister Jameel bin Mohammed...
- Unemployment benefit has not been discontinued for any beneficiary who meets the eligibility conditions, said the country's Labour minister Jameel bin Mohammed Ali Humaidan.
- Amendments have been made to the Unemployment Insurance Law to keep pace with the economic requirements of Bahraini jobseekers, he said.
Economy
Saudi Arabia has stable food stocks, says agriculture minister
Saudi Arabia has taken steps to maintain the stability of domestic supply in accordance with the food security strategy.
- Abdul Rahman Al-Fadli said Saudi Arabia’s food commodity markets had not experienced any supply shortages
- The country has been ranked one of the world’s best in terms of food abundance, added the agriculture minister
Economy
Sanctions seek to cripple Russian economy as Ukraine invasion continues
The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities.
- The measures were backed by the United States, Canada, the European Commission, Britain, France, Germany and Italy
- In a symbolic gesture likely to resonate in Moscow and the Kremlin, the stunning news was first delivered from Europe
Business
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of...
- Kingdom’s residential real estate prices increased by 1.7 percent on an annual basis in the fourth quarter of 2021
- Apartment values in Riyadh and Jeddah accelerated by 17 percent and 12 percent, respectively, in the last 12 months
Economy
Job creation in Oman posts 129% jump in 2021
In 2021, total revenues of the Ministry of Labor stood at RO 232.9 million ($605million) generated from fees of licenses...
- The number of new employees in the private sector in 2021 stood at 49276 of which 42609 were contracted employees
- The employment-linked training programs and on-the-job training programs benefited 9859 job seekers in 2021
ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
Company News
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Central Bank of Egypt raises interest rate to 100 bps to combat inflation
Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised...
Economy
AI anxiety: workers fret over uncertain future
Legal assistants, programmers, accountants and financial advisors are among those professions feeling threatened by generative AI.
Business
Saudi Arabia posts budget deficit of US$1.41 billion in Q2 2023
RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of...
Economy
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Business
EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors.
- EIH has cultivated a diversified, innovative, and sustainable investment portfolio comprising over 30 companies across various sectors.
- Gewan is a diversified holding company operating in various sectors, including real estate, general trading, hospitality, travel and tourism.
Business
DUBAL, Oriental Copper ink MoU
JV will manufacture high-quality copper products in UAE.
- As per the agreement, DUBAL Holding will assist with local resources and be a co-investor.
- Oriental Copper will contribute its extensive technical, operational, and market expertise.
Economy
Turkish inflation surges in July at 47.83 percent
The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more...
- The official rate had been steadily dropping since reaching a more than two-decade high of 85 percent in October last year
- The consumer prices skyrocketed by almost 9.5 percent on a month-on-month basis, according to the TUIK state statics agency