GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...
Economy
Economy
Governors of UAE and Turkey central banks to collaborate in banking sectors
The meeting was held on the sidelines of the official visit of Turkish President to the UAE.
- The currency swap agreement was signed in January 2022, which promotes the financial, commercial and investment interests of the two countries.
- Senior officials from both the central banks were present in the meeting which was held in Abu Dhabi.
Business
Majority of Saudi nationals positive about tourism sector jobs: Study
A sizable number of Saudis look positively at jobs in the tourism sector, according to a study by the kingdom's...
- Overall, 80 percent of respondents felt that there were plenty of opportunities for career learning, while 75 percent felt careers in tourism will provide long-term stability.
- The regions with the highest interest in careers in tourism include Tabuk (91 percent), Hail (86 percent), Asir (85 percent), Riyadh (82 percent) and Al Jouf (83 percent).
Business
UAE Cabinet okays trading cooperative shares on financial markets
The move is said to be conducive to strengthening the regulatory environment of the cooperatives sector and driving their economic...
- The development is apparently the first of its kind in the region
- It is aimed at growing the cooperative sector’s contributions to the economy
Economy
Bahrain updates Covid protocols, cancels isolation for contacts of active cases
Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is...
- Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is positive.
- All passengers arriving in the Kingdom of Bahrain do not need to conduct a PCR test upon arrival
Economy
Tunisians fear more economic pain as IMF talks loom
Every day at the family grocery stall in a Tunis market, Bilel Jani sees the reality of a biting economic...
- The small North African country, roiled by years of political turmoil that deepened with President Kais Saied's power grab last July, is also mired in a deep recession
- Surging prices and job losses have hurt families that were already struggling before the coronavirus pandemic
Economy
National Water Carrier Project will be completed by 2027: Jordan PM
The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said.
- The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said.
- The PM announced that the government may provide incentives to the industrial city in both southern Karak and Tafileh governorates
Economy
World fuels its own destruction with $1.8trn subsidies: Study
Governments across the world pay an estimated $640 billion in support to the fossil fuel industry.
- Agriculture gets $520 billion in subsidies, which lead to soil erosion, water pollution, deforestation, emissions, and loss of biodiversity
- Another $350 billion in subsidies for the water industry is said to help fund water pollution and risk ocean and waterway ecosystems
Economy
Morocco announces $1 bn relief for drought-hit agriculture industry
Morocco said Wednesday it will launch a nearly $1 billion aid program to help its agriculture industry, which has been...
- The emergency plan aims to mitigate the effects of delay in rainfall, to alleviate the impact on agricultural activity and to provide assistance to the farmers and livestock breed.
- The kingdom's economy, already hit hard by the Covid-19 pandemic, is heavily dependent on agriculture, which contributes 12 percent of GDP.
Business
Air travel momentum up as countries lift Covid restrictions: IATA
Air travel recovery was gaining momentum as countries were lifting restrictions, with a sharp 11-percentage-point increase for international tickets sold...
- There was an 11-percentage-point increase for international tickets sold in recent weeks.
- The 11-percentage point improvement between the January and February periods is the fastest such increase for any two-week period since the crisis began.
Economy
Riyadh Economic Forum to hold 10th session in November
Chairman of the Riyadh Chamber Ajlan Al-Ajlan said the generous patronage from the king Salman bin Abdulaziz has enhanced the...
- Chairman of the Riyadh Chamber Ajlan Al-Ajlan said the generous patronage from the king Salman bin Abdulaziz has enhanced the role of the forum
- The forum is a strategic, economic and ideological center that contributes to diagnosing the main economic and development issues of the national economy
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GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
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Trade between Russia and Africa totaled $18 bn in 2022: Putin
Moscow, Russia - Trade turnover between Russia and Africa reached $18 billion in 2022, which is one of the results...
Geostrategy
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...
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...
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Economy
Bahrain’s RERA revokes real estate firm’s license for ‘breach of regulations’
Manama, Bahrain-- for "exceeding the scope of the permit." The owner had exceeded the scope of the permit which was issued...
- According to RERA, the owner of the real estate firm had violated the scope of the permit issued to him by the authority
- The real estate agency, according to the regulatory authority, had also breached Central Bank of Bahrain's regulations
Economy
Clean cooking to save millions, boost gender equality
He was referring to a new IEA report which suggests that universal clean cooking access could be reached worldwide by...
- Nearly one in three people globally still cook over open fires or basic stoves, causing significant damage to health, living standards, and gender equality
- Air pollution from rudimentary cooking methods causes 3.7 million premature deaths annually, ranking it the third largest cause of premature death globally
Economy
UAE’s digital platform, U.AE, attracts 9.1m visitors in H1
Dubai, UAE-- Around 9.1 million people visited the UAE’s Government Unified Digital Platform, U.AE, from the start of 2023 until...
- The rise in the average number of pages viewed was 3.52%, compared to the same period last year, according to TDRA
- TDRA recently launched the generative AI-supported version of the digital platform, allowing users to obtain government services