Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
Economy
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Business
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.
- The meeting was attended by Secretary-General of Jordan’s Ministry of Industry, Trade and Supply Dana Al-Zoubi
- Head of the Cabinet of Minister of Trade and Export Development in the Tunisian Ministry of Trade, Khaled bin Abdullah, also attended
Economy
Jordan ranks 5th among Arab countries on Corruption Perceptions Index
The report shows that Jordan has progressed by several indicators, and maintained its rank in some other indicators in 2021.
- The report shows that Jordan has progressed by several indicators, and maintained its rank in some other indicators in 2021
- Transparency International found countries that violate civil liberties consistently score lower on the CPI
Economy
Tourism helps UAE add $158bn to GDP in six years
Around 31 million visitors are expected to enter the UAE yearly by 2025 as the country has initiated several measures...
- UAE’s total annual visitor spending is expected to reach about $64bn in 2028.
- Tourism is expected to contribute $76bn annually to the UAE's GDP by 2028.
Economy
Saudi merchandise exports shot up 82.5 percent
According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5%...
- The value of exports amounted to SAR 107.3 billion ($28.61 billion) in November 2021, up from SAR 58.8 billion ($15.68 billion) in November 2020
- This increase originated mainly from oil exports, which rose by SAR 43.1 billion ($11.49 billion) or 112.8% in the same period
Economy
American companies willing to invest in Tunisia: Ambassador Blome
A number of US companies are willing to invest in basic infrastructure and logistics to support Tunisia's efforts in this...
- Tunisian Transport Minister Rabii Majidi expressed the will to further strengthen cooperation with the United States.
- Both parties exchanged views on the draft bilateral agreement in the field of air transport. The US ambassador urged stepping up talks to materialize this agreement.
Economy
Abu Dhabi passes new family business ownership law
The new law, issued by the ruler of Abu Dhabi, President Sheikh Khalifa bin Zayed Al Nahyan, aims to further...
- The new family business ownership governance law empowers owners of family business to: prevent selling of shares or dividends to individuals or companies outside the family
- The current law is not applicable to family-owned businesses where non-family members own more than 40 per cent of shares
Economy
Iraq exported oil worth $7 billion in December
The additional revenues of $143 million were achieved from selling quantities of shipments of exported crude oil at a price...
- The additional revenues of $143 million were achieved from selling quantities of shipments of exported crude oil at a price premium
- The exported quantities were loaded by 29 international companies from ports of Basra, Khor al-Amiyah, mono-buoys on the Gulf, and the Turkish port of Ceyhan
Economy
Largest renewable energy project in Oman opened
The 500 megawatt utility, which cost RO 155 million, figures among Oman Vision 2040 major projects aimed at protecting natural...
- The 500 megawatt utility, which cost RO 155 million, figures among Oman Vision 2040 major projects aimed at protecting natural resources
- The project has been established on an area of 13 million square metres of which 1.5 million was accorded to the double-sided solar panel
Economy
Kuwait projects $10 billion budget deficit for 2022-2023
Revenues are projected at $62.2 billion, up 72.2 percent from the current fiscal year's estimates.
- Revenues are projected at $62.2 billion, up 72.2 percent from the current fiscal year's estimates
- A new Kuwaiti government was sworn in on December 29, the oil-rich Gulf emirate's fourth in two years
Economy
Lebanon and IMF begin talks on rescue package
Lebanese officials began much-delayed talks with the International Monetary Fund Monday on support measures aimed at lifting the country out...
- Lebanon is hoping to obtain a financial rescue package to rekindle an economy that has been in free fall for two years
- The previous government held several rounds of talks with the multilateral lender, but was unable to secure a bailout
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Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
Economy
Company News
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Strong growth key to GCC’s FDI appeal
Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...
Infographics
Dubai Customs processes over 14m transactions in first six months of 2023
DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...
Business
Dubai seeks to unleash high-powered growth for its family business sector
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....
Business
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Economy
US Fed likely to hike interest rates to 22-year high
The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health...
- Futures traders now assign a probability of more than 99 percent that the Fed will hike its base rate by 25 basis points
- Some economists predict another rate hike as soon as the Fed's next rate meeting, while others think it could hold rates steady
Economy
Qatar records 70% growth in annual FDI between 2019 and 2022
Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just...
- IPA Qatar said it has succeeded in luring FDI and building a world-class business environment, boosting Qatar's image on the global stage
- It has also played a leading role in policy advocacy, making 70 policy recommendations, apart from creating a better business environment
Economy
‘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...
- About 97 percent of private sector workers in the UAE, including gig and platform economy workers, are insured under local laws, highlights a UAE minister
- More than 70 percent of workers are registered in the Unemployment Insurance Scheme, providing temporary financial income for those who lose their jobs