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
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
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.
Economy
Saudi economy grew 6.8% in Q4, 3.3% in 2021
The data was released on Thursday, February 10, by the country’s General Authority for Statistics (GASTAT).
- This positive growth in the GDP was attributed to the high increase in oil activities: as much as 10.8 percent
- Non-oil activities were up 5 percent, and government services activities rose 2.4 percent year-on-year
Economy
JBA head, Tunisian envoy discuss enhancing joint economic cooperation
According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange.
- According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange
- The two sides discussed joint cooperation in the sectors of garment, textiles, banking, contracting, traditional industries, transport, shipping, and pharmaceutical industries.
Economy
KSA eyes big role in Fourth Industrial Revolution
Saudi Arabia plans an Industrial Fund to assist investors in the sector shifting to 4IR technologies with the help of...
- Saudi Arabia's advanced digital government, according to an official report, will help the country's in speeding up the implementation of 4IR strategy
- The 4IR strategy aims to support the localization of new and advanced industries in the kingdom and also boost competitiveness of the existing industries
Economy
Dubai plans to attract 50 multi-national companies under a three-year strategy
Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai...
- Drawn by Dubai International Chambers, the strategy will also push the the external expansion of 100 companies from Dubai to priority foreign markets.
- It will also support and motivate multinational companies to list on the Dubai Financial Market.
Economy
UAE climbs to 3rd globally in Agility Emerging Markets Logistics Index
The UAE is the most competitive emerging market in GCC and the third most competitive on a global scale after...
- The UAE out-performed all 50 countries in business fundamentals, an area where Gulf and MENA countries are clear leaders
- The 2022 Agility Emerging Markets Logistics Index is the company’s 13th annual ranking of the world’s 50 leading emerging markets
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
Company News
Al Mahhar to list on QSE
Business
Latest News
Dubai Customs clears TIR carnet transactions worth US$38.7m
DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of...
Business
Fire at substation in Iraq sparks nationwide power outage
Baghdad, Iraq--A fire at an electricity substation in southern Iraq triggered a nationwide power outage Saturday, authorities said, just as demand peaks...
Economy
UAE sets more norms for ‘Qualifying Investment Funds’
The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate...
Economy
Most Read
Economy
Saudi Arabia turns to maritime to diversify revenues
Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
- Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
- The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers
Geostrategy
UAE finance ministry unveils new corporate taxation rules
ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the...
- The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do not comply with their obligations.
- Penalties also apply in cases of failing to properly keep records or submitting the required records and other information specified in the Tax Law.
Geostrategy
African Union, EU step up pressure on Niger coup leaders
The African Union demanded Niger's military "return to their barracks and restore constitutional authority" within 15 days as the EU...
- The African Union and the European Union joined the chorus of international condemnation of the power grab, the latest to strike the Sahel region.
- The EU's diplomatic chief Josep Borrell said the bloc would not recognize the putschists and announced the suspension of security cooperation with Niger.