Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
Business
Ecommerce prospers in GCC amidst Covid-19 woes
An improved regulatory support, government promotional initiatives, and heightened interest from business leaders in the private sector benefits the sector...
- Together with Egypt, Saudi Arabia and the UAE now account for more than 80% of the region’s overall e-commerce market.
- Spurred on by a highly digitized population and a lockdown-induced spike in consumer demand, e-commerce valuation hits $22bn
Economy
Fed official says March rate hike will depend on data
"I support raising the federal funds rate at our next meeting in March," governor Michelle Bowman said.
- "I support raising the federal funds rate at our next meeting in March," governor Michelle Bowman said
- She stressed that should the economy evolve as she expects, "additional rate increases will be appropriate in the coming months."
Business
Aramco stock rises 4%
Recently, a 4% stake of the oil giant had been transferred to PIF in an $80bn deal.
- The share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion
- Earlier in the session, the shares hit an all-time high of SR40 ($11)
Business
Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund
GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million...
- The bank signed an agreement with Credit Suisse to provide financing and fund administration services.
- GFH said it aims to generate returns to the fund through active asset allocation, credit selection, optimal leverage and duration management.
Geostrategy
Using alternative sources of energy saved UAE $191 bn: Suhail Al-Mazroui
UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at...
- Energy minister Suhail Al-Mazroui said his country is working on 40 international projects helping other countries implement solar and wind projects.
- UAE has plans to capture 25 percent of the global hydrogen market share, Al-Mazroui told IPTC 2022 Riyadh.
Business
Bahrain lays foundation stone for United States Trade Zone
The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and...
- The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and US Ambassador to the Kingdom of Bahrain Steven C. Bondy
- The USTZ project follows the visit of the UAE's Crown Prince and Prime Minister Salman bin Hamad Al Khalifa to the USA in November 2019
Economy
Jordan was subjected to 897 cyberattacks in 2021: Minister
The attacks reportedly focused on sovereign institutions, financial and economic targets, and even individuals.
- Jordan’s Minister of State for Media Affairs, Faisal Shboul, said at a a press conference that the country was subjected to 897 cyberattacks in 2021
- He was accompanied by the head of the National Cyber Security Center, Ahmed Melhem, as they discussed Jordan’s efforts in the cybersecurity field
Economy
Lebanon electricity supply may rise to 8-10 hours a day soon
Gas from Egypt and Jordanian electricity is expected to help Lebanon restore electricity supply to 8-10 hours a day soon.
- The Lebanese have been suffering a financial crisis that has led to power supply being restricted to a mere couple of hours per day
- The country even witnessed an all-encompassing blackout in October last year as power-generating fuel ran out in the country
Analysis
Covid-19 shakes up GCC’s in-demand job profiles
Now, the fastest-growing job profiles in the GCC include a mix of both pandemic-resultant and non-pandemic-resultant positions.
- Traditional jobs such as healthcare personnel and core corporate operations are still in high demand around the world
- Employment rates in the Gulf region have risen by 40% annually, thanks to the UAE and Saudi Arabia
Geostrategy
461m Dubai riders used taxis, public and shared transport in 2021
Nearly 461 million riders in Dubai used public transport, shared transport and taxis, which include metro, tram, public buses, marine...
- Dubai’s Roads and Transport Authority (RTA) said the number compares well with the number announced in 2020: about 346 million riders.
- The daily average of riders using mass transit means and taxis last year reached 1.3 million riders, compared to about 948,000 in 2020.
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Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Company News
Latest News
Oman inflation spikes 2.8% in 2022, pushing up food prices
Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...
Economy
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...
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...
Economy
Most Read
Arts & Culture
Egypt energy-saving measures evoke satirical reaction among citizens
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...
- After 11 days of daily blackouts, Prime Minister Mostafa Madbouli ordered civil servants to work from home once a week.
- He announced scheduled power outages at least through August, and proposed other solutions to Egypt's energy crisis.
Geostrategy
UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...
- The UAE minister called upon G20 countries to fulfil their commitment to providing the pledged financial support for global climate initiatives.
- She said that is only by collective action that the global community can achieve the worldwide emission reduction target.
Business
Dubai Customs clears TIR carnet transactions worth US$38.7m
DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of...
- Goods shipped under cover of the internationally accepted customs transit document do not require inspection at border crossings while in transit.
- It provides a financial guarantee to pay the suspended duties and taxes. The guarantee system is managed by the International Road Transport Union.