UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
Analysis
Transformation will propel MENA economy: IMF
Major economies in the MENA region have already got the ball rolling when it comes to diversifying their economies.
- Jihad Azour, Director of the Middle East and Central Asia Department at IMF, has said the economic recovery of the region is affected by several factors
- However, the region needs to rely on an agenda of transformation policies to continue down the path of economic recovery
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.
Videos
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
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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
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Company News
Aldar raises US$500mn
Business
Latest News
Iran clothing industry employs over 2m people: official
Tehran, Iran – The clothing industry in Iran which employs around two million people grew by 17 percent last year...
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...
Economy
Saudia Cargo signs deal with Jan de Rijk
It will enable Saudia Cargo to widen network in Europe.
Business
Most Read
Business
Abu Dhabi Maritime signs MoU with ADNOC Distribution
It seeks to enhance emirate's coastal and marine locations.
- The agreement between the two underscores the ongoing effort to strengthen Abu Dhabi's maritime sector
- Director-General of Operational Affairs at the DMT said that "together, we will unlock the untapped potential of our shores"
Economy
Jordan and Algeria look to ramp up trade, parliamentary ties
Amman, Jordan--Jordan and Algeria are looking to boost trade and parliamentary relations to further enhance bilateral ties between the two...
- The head of the Jordanian-Algerian Parliamentary Committee and Algerian ambassador discussed boosting of ties between the two countries
- The ambassador reiterated her country's commitment to improving ties with the kingdom, adding that a tax-free customs zone will be set up in the near future
Economy
Ruwad approves financing for several projects in various sectors
Sharjah, UAE-- Ruwad, or the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), has approved the financing of three projects after...
- In the second quarter of this year, Ruwad received some 102 application from projects for the Ruwad membership, of which 66 were approved
- According to Ruwad, the food sector stood at top of the list that secured the membership during the second quarter of 2023