Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
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
Economy
Qatar ranks 2nd in Gulf countries on corruption perceptions index
The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness...
- The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness Yearbook
- The index uses a scale from zero to 100, with zero being the most corrupt and 100 the most transparent
Business
Morocco: Overall port traffic up 11.6% in 2021
Moroccan ports have recorded a significant evolution of overall port traffic, which has risen from 172.1 million tons in 2020...
- The maritime and port sectors have overall shown great resilience to the Covid-19 pandemic
- The transshipment accounted for 41.9 percent of overall traffic, followed by imports of 33.3 percent
Economy
Turkey’s central bank governor fired over interest rates
Murat Cetinkaya, who was appointed to the role in April 2016, has been replaced by Murat Uysal, according to the...
- Murat Cetinkaya, who was appointed to the role in April 2016, has been replaced by Murat Uysal, according to the decree published in the official gazette
- President Recep Tayyip Erdogan has repeatedly railed against high interest rates and called for them to be lowered in a bid to stimulate growth
Business
Abu Dhabi non-oil trade in 11 months of 2021 totals $51.78 billion
The non-oil trade through Abu Dhabi ports during 11 months in 2021 amounted to AED190.20 billion ($51.78 bn), an increase...
- Imports accounted for AED83.63 billion of the non-oil trade and non-oil exports for AED71.17 billion, an increase of 5.4 percent compared to the same period last year.
- The re-exports were valued at nearly AED35.39 billion, an increase of 10 percent compared to 2020.
Economy
France’s economy posts fastest growth in 52 years
France's economy grew at its fastest pace since 1969 last year, official data showed Friday, enjoying a strong rebound from...
- At 7.0 percent according to the Insee statistics institute, the 2021 growth beat forecasts from both economists and official bodies
- But gross domestic product topped the final quarter of 2019 in October-December 2021, Insee said
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Company News
Gulf Air, Emirates sign deal
Business
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Kuwait posts fiscal surplus after almost a decade, says finance ministry
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
Economy
Kuwait records its first fiscal surplus in nine years on oil prices surge
The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry...
Economy
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Business
Nissan Q1 net profit $750m
Results due to better sales in Japan, North America.
- Sales rose 37 percent to US$20.6 billion, even as tougher competition and a sluggish post-Covid recovery hurt its performance in China.
- The auto giant raised its annual net profit forecast to US$2.4 billion from its previous estimate of US$2.2 billion, boosted in part by cost-cutting.
Economy
US Federal Reserve likely to lift interest rates to 22-year high
The Fed last month halted its aggressive campaign of monetary tightening after 10 consecutive rate increases to give policymakers more...
- A rate hike on Wednesday would raise the Fed's benchmark lending rate to a range between 5.25 and 5.5 percent - its highest level in 22 years
- Futures traders see a probability of close to 99 percent that the Fed will proceed with a quarter percentage-point hike, according to data from CME Group
Business
UAE Government’s Q1 revenues total $31.3 billion
Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion...
- The results of financial transactions during the first quarter shows the value of net lending and net borrowing amounted to $6.3 billion
- The value of total expenditures worked out $25.0 billion ,comprising net investment in nonfinancial assets and current expenses