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
Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...
Geostrategy
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.
Business
Jordan apprises US delegation of trade opportunities in kingdom
A workshop held by the JCC and working meetings with a number of ministers and representatives of official entities, universities...
- The joint cooperation is to support economic cooperation, scientific research and joint business development
- The delegation met King Abdullah, and was briefed on trade and investment opportunities in the Kingdom
Business
Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.
- The Jeddah-based pharma retailer made revenues of SR8.6 billion ($2.3billion) during the year
- Nahdi currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Videos
GCC startups begin 2022 on a promising note
Digital economy has driven the startup investment upsurge in the MENA region in 2021.
- In 2021, more than 50 per cent of the world’s private investment funding went to startups in the United States.
- The other four top countries with the most private funds invested are China, the UK, India and Germany.
Economy
Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the...
- The expenditure on the Msailha Dam amounted to $69.13 million, according to official figures
- The same figures from the government say the amount spent on the Balaa Dam was $24 million
Economy
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...
- The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
- It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
Geostrategy
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.
- The projects include two new development initiatives in the water and housing sector
- The fund has also laid the foundation stone for a project in the transportation sector
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
Company News
Latest News
UAE launches National Program for Infrastructure Development – Salamah 365
DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure...
Geostrategy
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in...
Business
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Economy
Jordan sees surge of investments to US$844.8m in first half of 2023
Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data...
- According to data, Jordan's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million
- The results come close on the heels of the government's initiative to set up a plan to lure new funding streams and boost current ones
Business
Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
- Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
- The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Economy
UAE’s real estate market remains strong in the first half of 2023: CBRE
Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
- According to the CBRE report, the sector has benefitted from an expansion in the country's non-oil economy
- The report added that industrial and logistics sector has seen relatively strong levels of activity during the period