Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
Business
UAE and Australia discuss ways to strengthen bilateral relations
The deliberations were held during a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International...
- Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with David Hurley, the Governor-General of Australia, at Expo 2020 Dubai.
- The two sides reviewed Australia's participation in Expo 2020 Dubai and the role played by this international event.
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Eight biggest GCC sovereign wealth funds
Sovereign wealth funds across the world invest trillions of dollars into real estate, bonds and other assets. TRENDS takes a...
- More than $1.3 trillion of funds are managed by some of the biggest sovereign wealth funds in the GCC.
- These funds invest in global real estate, financial assets, bonds and private equities.
Economy
DEWA spends $16.33 million to extend water transmission pipeline
Dubai Electricity and Water Authority (DEWA) has completed 54.23 percent of the extension of several key water transmission pipelines in...
- The network spans over 22 kilometers and the diameter of pipes is 1200mm.
- The project location runs from Al Quoz Industrial Fourth to Al Thanyah Fifth, alongside Al Khail Road in Dubai.
Economy
Tunisia, Algeria, Morocco must support their local agriculture: OTE
The rise in international raw material prices has increased subsidy spending in Tunisia, Algeria, and Morocco.
- The Tunisian Observatory of Economy has recommended that Tunisia, Algeria, and Morocco support local agriculture, especially cereal cultivation
- This step, it said, would help the three countries avoid being at the mercy of price volatility on a global scale, and recover their food sovereignty
Economy
Italy re-elects Mattarella as president, averts political chaos
Mattarella has already served a tumultuous seven-year term, during which he has sought to be a unifying figure through five...
- Italy's political parties Saturday voted overwhelmingly for outgoing President Sergio Mattarella to remain for another term
- The former constitutional court judge had repeatedly ruled out serving for a second term but gave in as the parties failed to find another candidate
Economy
Turkey president threatens journalists for ‘harmful content’
Turkish President Recep Tayyip Erdogan has threatened legal action against media houses.
- Turkish President Recep Tayyip Erdogan has threatened news media over content that is 'incompatible with national and moral values'
- He has also sacked the justice minister and chief of the state statistics agency after it published official data that showed high inflation
Business
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.
- The President of the American Chamber of Commerce in Jordan (AmCham) Mohammad Batayneh said in a statement
- He added that Jordan's exports during the first 11 months of 2021 nearly reached $2.5 billion, compared to $1,120 billion in imports
Economy
Erdogan sacks top official for high inflation figure
Turkish President Recep Tayyip Erdogan has sacked the head of the state statistics agency, according to a decree published Saturday,...
- Sait Erdal Dincer was just the latest in a series of economic dismissals by Erdogan, who has sacked three central bank governors since July 2019
- Erdogan has railed against high interest rates, which he believes cause inflation -- the exact opposition of conventional economic thinking
Economy
UNICEF: Lebanese crisis forcing youth out of learning
Lebanon’s crisis is increasingly forcing young people to drop out of learning and engage in ill-paid, irregular and informal work...
- The report – Searching for Hope – says that more than 4 in 10 youth in Lebanon reduced spending on education to buy basic food, medicine and other essential items
- Enrolment in educational institutions dropped from 60 percent in 2020-2021 to 43 percent in the current academic year
Economy
Tunisia saves more than $40 million since 2011 with solar installations
The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by...
- The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by 394.5 ktonnes
- In 2021, about 11,395 individual PV installations were set up, compared to 8,370 a year earlier, which is up 36 percent
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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 Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
Company News
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‘UAE committed to global sustainability, job creation’
“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills...
Economy
UAE and UN to boost climate action cooperation in run up to COP28
New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action...
Economy
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
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Economy
Nations look to sign deep sea mining rules by 2025
The member nations of the International Seabed Authority (ISA) agreed on a two-year roadmap for the adoption of deep sea...
- The ISA Assembly and its 167 member states next week will discuss a "precautionary pause" in mining, supported by about 20 countries
- Scientists believe deep sea mining can destroy habitats and species that may still be unknown but are potentially vital to ecosystems
Economy
Morocco’s women football team to make history in World Cup debut
When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play...
- Its women team had a surprise run to the final of last year's Africa Cup of Nations, before losing 2-1 to South Africa
- It is in Group H at the Women's World Cup and as well as Germany will face South Korea and Colombia
Economy
Electric vehicles, lithium-ion, solar batteries become new drivers of China’s foreign trade
Beijing, China - China's traditional export sectors, such as apparel, home appliances, and furniture, have been surpassed by electric vehicles,...
- These "new three" industries have contributed to an impressive 61.6 percent year-on-year increase in total export value during the first half of 2023
- A combination of factors, such as production innovation and favorable policies, has facilitated the export growth of these sectors