NEOM announces Treyam, its premier lagoon destination
Neom, Saudi Arabia - NEOM, Saudi Arabia’s futuristic mega city will now have a premier resort where the spectacular desert...
Economy
Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...
Economy
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.
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
NEOM announces Treyam, its premier lagoon destination
Neom, Saudi Arabia - NEOM, Saudi Arabia’s futuristic mega city will now have a premier resort where the spectacular desert...
Economy
Company News
Latest News
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...
Economy
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...
Business
Federal Reserve open to alter interest rates, says official
Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at...
Economy
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Geostrategy
UK to issue hundreds of new oil and gas drilling licenses in North Sea
The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
- "Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence," PM Rishi Sunak's office said.
- "The government is taking steps to slow the rapid decline in domestic production of oil and gas, which will secure our domestic energy supply," it said.
Geostrategy
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
- ADNOC said it has "reduced its greenhouse gas emissions" by about 5m tons in 2022, mostly through the use of solar and nuclear energy, to power all of its onshore operations.
- ADNOC CEO Sultan Al Jaber, who will head up COP28, has argued that fossil fuels will continue to play a key role, and that carbon capture technologies will contain emissions.
Business
National Leasing’s profits hit $2.37m
A jump of 28 percent in net profit vis-a- -vis H1 2022.
- National Leasing Holding was established in 2003
- It was listed on QSE in 2003 with a capital of $135.9 million.