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
UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi
Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy
Economy
IEA warns of ‘chronic’ OPEC+ failure to meet 2022 oil demand
The 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, had...
- The group began to increase output last year, renewing every month a target of 400,000 barrels per day, as demand and prices recovered.
- But analysts have said some members, such as Angola and Nigeria, have been unable to scale up their production and others are unwilling to do so.
Geostrategy
Algeria’s Sonatrach signs deal to restart Libya operations
The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar.
- The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar
- The Sonatrach statement said the oil and gas giant planned to “redouble efforts for a swift return” to its activities in Libya
Geostrategy
EU chief unveils 150-bn-euro investment plan for Africa
The scheme is the first regional plan that seeks to mobilise up to 300 billion euros ($340 billion) for public...
- The scheme is the first regional plan that seeks to mobilise up to 300 billion euros ($340 billion) for public and private infrastructure around the world by 2027
- Seen as a response to China's Belt and Road initiative, the strategy will use funding from EU institutions and member countries to leverage private-sector investment
Economy
Libya parliament names second PM to rival existing one
Libya faced the challenge of two prime ministers on Thursday after parliament named a rival to the existing unity government's...
- The House of Representatives, based in Libya's east, ‘unanimously approved’ former interior minister Fathi Bashagha ‘to head the government’
- On Thursday evening Bashagha flew to Tripoli from the eastern city of Tobruk, promising ‘to open a new chapter’ and ‘reach out to everyone’
Economy
UAE ranks 1st in Global Entrepreneurship Index 2022
The Global Entrepreneurship Monitor (GEM) has ranked the UAE 1st globally in its Global Entrepreneurship Index 2022, which was unveiled...
- The UAE also emerged as the number one global destination for establishing and starting businesses
- According to the report, the UAE has achieved an improvement on 11 out of the 13 axes covered by the index
Economy
Global diesel supplies fall as demand rises in post-pandemic recovery
Global supplies of diesel are dwindling as refiners struggle to keep pace with rapid post-pandemic demand recovery, exacerbating an acute...
- Northwest European diesel cargo prices reached $114/bbl on Monday, the highest since September 2014.
- Tight supply has pushed Asian diesel prices for the benchmark 10ppm gasoil to their highest since Sept. 2014.
Geostrategy
Turkey eyes cooperation in agriculture sector with Iraq, says minister
Turkey wants joint cooperation with Iraq regarding the exchange of products, its Minister of Agriculture and Forestry Bekir Pakdemirli said....
- Tuekey suffers from lack of water, climate change and migration for several reasons, including wars and clashes
- Turkish minister discussed with the Iraqi Minister of Agriculture, cooperation in the agricultural field
Business
UAE and Spain to collaborate in 4IR, industry, aerospace
The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) signed a...
- The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) sign an MoU.
- Other areas of collaboration include automotive, health and life sciences and standards and regulations.
Analysis
Inflation, geopolitics might worsen credit conditions: S&P
The credit ratings agency has said the prospects for global economic growth have softened, even if it was to a...
- In a Global Credit Conditions Special Update, S&P Global ratings has said downside risks to global credit conditions are escalating
- It pointed especially to geopolitical tensions, persistent inflation, and the prospect of central banks raising borrowing costs
Business
France’s TotalEnergies signs $27bn oil, gas, solar deal in Iraq
French giant TotalEnergies signed a $27-billion contract to invest in oil, gas and solar production in Iraq Sunday, as the...
- Oil minister Ihsan Ismail said this is the largest investment in Iraq by a western company.
- Despite being the number two producer in the OPEC, Iraq is experiencing an acute energy crisis and chronic blackouts that fuel social discontent.
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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
Company News
Latest News
IMF Global Outlook: Saudi slowdown to weigh on MECA growth
A projected decline in the Middle East and Central Asia from 5.4 percent in 2022 to 2.5 percent in 2023...
Economy
US Federal Reserve likely to lift interest rates to 22-year high
The Fed last month halted its aggressive campaign of monetary tightening after 10 consecutive rate increases to give policymakers more...
Economy
Most Read
Economy
Qatar Free Zones Authority, Qatar Development Bank to support foreign investors
Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...
- The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
- The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
Economy
More Arab youth prefer entrepreneurship over govt job
Almost half of Arab youth are keen on starting their own businesses in the next five years, signaling a significant...
- Almost half of Arab youth are keen on starting their own businesses in the next five years, signaling a significant preference shift from government to private sector jobs
- Amid high youth unemployment rates in the region, the ASDA’A BCW Arab Youth Survey points out a rise in entrepreneurial aspirations, particularly in GCC countries
Economy
Abu Dhabi-Japan deal to boost economic diversification
“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role...
- Rashed Abdulkarim Al Blooshi, Undersecretary of the ADDED, highlights the importance of human development in Abu Dhabi's economic diversification efforts
- The Abu Dhabi Residents Office, an ADDED arm, and JETRO have signed an MoU to bolster efforts in attracting specialized talent and investors across the sectors