Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
Geostrategy
European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
Economy
Dubai imposes tariff on single-use plastic bags to limit their use
Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags...
- The policy will be evaluated over several stages until the single-use bags are completely banned within two years.
- The emirate will charge a tariff of 25 fils per bag from 1 July 2022.
Infographics
How much gold and forex do Arab countries have?
Foreign exchange and gold reserves come in handy in many ways when a country is trying to ride out an...
- Foreign exchange reserve usually refers to how much foreign currency a country or its apex financial institution holds in reserve
- Gold reserve is a similar tranche, except that it pertains to the yellow metal that has been purified to a standardized degree
Economy
MoU signed to enrich Investopia summit’s discussions and workshops
Investopia investment summit has announced the signing of a Memorandum of Understanding (MoU) with Deloitte Middle East for collaboration to...
- The MoU was signed between Deloitte Middle East and Investopia investment summit taking place on March 28.
- The two parties will jointly study significant economic areas such as investments in AI, social and environmental sustainability and governance.
Business
Turkey lifts ban on importing scrap metals from Lebanon after ministerial meet
Turkey has lifted the ban on importing scrap metals from Lebanon, which could secure about $100 million annually for Lebanon,...
- The embargo was imposed in 2018. Lebanon exported to Turkey more than 40 percent of the total exported scrap metal.
- The ban was lifted after Lebanon Minister of Economy and Trade Amin Salam's meeting with Turkish ministers in Ankara.
Economy
Jordan king meets economists, says national workshops should lead to economic roadmap
He noted that the roadmap should outline the way to guarantee sustainable comprehensive development and provide economic opportunities.
- He noted that the roadmap should outline the way to guarantee sustainable comprehensive development and provide economic opportunities
- The King also pointed to the importance of the participation of all segments of society and economic sectors, in order to expand dialogue and participation
Videos
Which GCC countries have largest renewable capacity?
From solar farms to wind energy, the infrastructure is being put in place at varying paces by GCC nations.
- Saudi Arabia is developing a sustainable renewable energy sector to support its economic growth
- More and more industries in the UAE are embracing solar in a big way as power demand rises
Economy
Smart Madinah Forum 2022 kicks off
The forum aims at discussing concepts of smart cities and their relations to improving the quality of life.
- The forum aims at discussing concepts of smart cities and their relations to improving the quality of life
- It is also a platform to discuss the role of innovation in enhancing sustainable development and getting acquainted with tools of civil innovation
Economy
On credit rating meter, GCC economies score big
The GCC countries are among the most notable ones that credit rating agencies frequently recognize since they are the center...
- The GCC countries are among the most notable ones that credit rating agencies frequently recognize since they are the center of investors' attention
- Fitch evaluates Saudi Arabia at level (A), with a negative outlook to stable, while Moody's classifies UAE's credit rating by (AA2), with a stable outlook
Business
Participants from 42 countries to attend Abu Dhabi Date Palm Conference
The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th...
- Minister of Tolerance and Co-existence Sheikh Nahyan said that this year's conference is significant by all standards.
- 475 international researchers and experts will participate in the conference being held from 14-16 March.
Economy
Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings
Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...
- In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.
- Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
Geostrategy
Company News
Gulf Air, Emirates sign deal
Business
Latest News
Saudi Arabia’s oil exports fell by nearly 38 percent in May
The share of oil exports in total exports decreased from 80.8 percent in May 2022 to 74.1 percent in May 2023, according to...
Economy
Jordan and Iraqi PMs renew pledge to boost economic ties
Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...
Economy
KNPC exports first shipment of 95 octane motor fuel to Europe
Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...
Business
Most Read
Economy
COP28 urges governments to make ‘food systems’ central to climate change
Dubai, UAE-- Calling on governments around the world to demonstrate leadership by signing the "Leaders Declaration on Food Systems, Agriculture...
- The presidency exhorted stakeholders in the food and agriculture sectors to speed up existing initiatives across food systems, agriculture, and climate action
- It also pleaded for action to ramp up innovation in the sectors in order to drive both development and climate action, leveraging mechanisms
Business
Saudia Cargo signs deal with Jan de Rijk
It will enable Saudia Cargo to widen network in Europe.
- As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
- Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions
Economy
Eurozone witnesses steepest downturn in eight months in July
The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its...
- "The eurozone economy will likely move further into contraction territory in the months ahead, as the services sector keeps losing steam."
- The eurozone's struggles were fueled by steep downturns signaled by surveys from economic powerhouses France and Germany.