Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
Tunisian economic crisis mutes build-up to Ramadan
Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and...
Economy
Business
Morocco fish production reaches 1.4 million tons in 2021
This remarkable performance was recorded in the three segments of fisheries: artisanal fishing, coastal fishing and deep-sea fishing.
- This remarkable performance was recorded in the three segments of fisheries: artisanal fishing, coastal fishing and deep-sea fishing
- Artisanal fishing has benefited from the increase in the turnover of octopus due in particular to the rise in its average price by 53 percent
Economy
New UAE decree boosts safety of construction workers
The decree details the responsibilities of both employees and employers to ensure work stability and increase productivity in the workplace.
- Establishments with 50 or more workers, where the individual wage is less than AED1,500 per month, need to provide labor accommodation
- Construction and industrial workers are not permitted to work outdoors or under the sun from 12:30 pm to 3 pm from June 15 to September 15
Economy
WB ready to pair with Tunisia to implement reform program
The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country.
- The World Bank has already promised $400 million (about 1,152.5 million dinars) to support Tunisia's social reforms
- Other financing was expected to follow to support SMEs, acquire vaccines, and provide the necessary health support
Economy
Iran, Qatar to form joint gas extraction study group
The oil ministers of Iran and Qatar will discuss gas swap, common stances in the global market and forming a...
- The two ministers will discuss gas swap, common positions in gas trade and global markets, and establishing joint knowledge-based companies in the field of oil and energy
- The oil ministry source also said that they are expected to discuss forming a joint working group to study the reservoir of South Pars gas field
Economy
Italy forks out fresh six billion euros in energy aid
"We are putting nearly eight billion euros on the table, including six billion in energy aid", PM Mario Draghi told...
- "We are putting nearly eight billion euros on the table, including six billion in energy aid", PM Mario Draghi told a news conference
- Natural gas prices have reached historic highs in recent months, sending electricity costs spiralling across Europe
Analysis
GCC eyes floating hotels, eateries to buoy tourism
Floating restaurants and hotels could be a significant supporting player as the GCC region aspires to increase its footprint as...
- The UAE is well known for its floating restaurants and five-star floating hotels
- Qatar aims to construct 16 floating hotels for 2022 FIFA World Cup visitors
Business
Europe’s Investment in Palestinian economy touches $1.61bn
Around 60% of $1.61 billion were committed only in the last two years showing remarkable growth in mobilization of finance...
- A high-level policy meeting on Friday in Ramallah revealed this data of European Investments in Palestine
- A big bulk of investments is for boosting access to finance for SMEs, the backbone of the Palestinian economy
Business
UAE and India sign ‘milestone’ pact to boost economies
Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan, and India's Prime Minister Narendra Modi held a virtual summit to witness...
- India-UAE trade is valued at $59 billion, making the oil-rich Gulf country India's third largest trading partner for the year 2019-20.
- The UAE is India's third largest export destination with nearly $16 billion clocked in 2020-21, it added.
Geostrategy
Qatar to distribute cash assistance for February to Gaza needy
Cash assistance will be provided at a rate of USD 100 per family.
- Cash assistance will be provided to about 100,000 needy families in the governorates of Gaza Strip, at a rate of $100 per family.
- The aid will be distributed through the United Nations, and nearly 300 distribution centers in the governorates of Gaza Strip.
Business
UAE, Hungary sign MoU to establish joint business council
The UAE Federation of the Chambers of Commerce and Industry (FCCI) and the Hungarian Chamber of Commerce and Industry (HCCI)...
- The MoU was signed by Hamid Mohammed bin Salem, FCCI Secretary-General, and Péter Szijjártó, Minister for Foreign Affairs and Trade of Hungary.
- The parties inked the MoU at the Hungarian pavilion at Expo 2020 Dubai on the sidelines of the third meeting of the UAE-Hungarian Business Committee.
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Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
Company News
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Yen swings after Bank of Japan policy tweak, Asian equities mixed
After a closely watched meeting, the Bank of Japan said it would allow "greater flexibility" in government bond markets, having...
Evergrande’s e-vehicle unit shares plunge 70% after trading resumes
The company on Wednesday announced its earnings for 2021 and 2022 -- showing a loss of almost $12 billion --...
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Economy
US Federal Reserve’s united fight against inflation enters new phase
Analysts are divided ahead of the Fed's next decision in September, with the so-called "hawks" predicting additional rate hikes in...
- Thursday's GDP figure for the second quarter came in above analysts' expectations, a day after the Fed hiked its benchmark lending rate to its highest point for 22 years.
- The US central bank also left the door open to additional rate hikes, if needed, to get inflation down to its long-term target of two percent.
Economy
Saudi Arabia poised to become global biotech hub with $3.9bn R&D investment
Riyadh, Saudi Arabia - Saudi Arabia has positioned itself as a potential world-leading hub for biotech research, development, and pharmaceutical...
- The country's strategic move aligns with its ambitious goals of economic diversification and addressing crucial healthcare and food security challenges
- With initiatives like the Saudi Human Genome Program and the Saudi Network for Clinical Trials, Saudi Arabia could establish a biotech cluster over the next decade
Saudi PIF signs MoU with Oman Investment Authority to expand investment in Oman
Riyadh, Saudi Arabia - The Public Investment Fund (PIF) announced on Thursday that it has signed a Memorandum of Understanding...
- The MoU builds on the Saudi Omani Investment Company (SOIC), a PIF-wholly owned company, which intends to invest up to $5 billion in Oman
- The SOIC recently closed its first investment in Oman as a 20 percent anchor investor in Abraj Energy Services’ IPO