Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Business
Tunisia allows digital sector firms to bid in convertible foreign currencies
The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in...
- Bidding allowed for tenders for imported hardware and software in 2022.
- The authorization from the Central Bank of Tunisia came after a 'positive opinion' from the Ministry of Finance.
Economy
China’s property stress could shake global markets: IMF
A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF...
- The International Monetary Fund's report comes as property firms in the world's second-biggest economy struggle with liquidity problems
- Among those embroiled in the crisis is Evergrande, one of the country's largest developers, which is involved in restructuring negotiations
Economy
Dubai Metro cuts emissions by 2.6m tons, yields $31bn in benefits
Dubai Metro has eliminated about 1 billion private-vehicle journeys, yielded monetary benefits worth AED115 billion and reduced carbon dioxide emissions...
- The Metro has eliminated about 1 billion private-vehicle journeys, said Mattar Mohammed Al Tayer, Chairman of the Board of Executive Directors of the Roads and Transport Authority.
- Al Tayer said the metro network, which spans 74 km, had been completed in just four years. The total length of the rail network is about 101 km.
Geostrategy
Italy, UAE discuss the digital revolution in healthcare sector
With a medical devices industry turnover of Euro 17 billion, 4,400 companies and nearly 94,000 professionals, Italy is at the...
- With a medical devices industry turnover of Euro 17 billion, 4,400 companies and nearly 94,000 professionals, Italy is at the forefront of telemedicine
- The Innovation Talks are a platform to foster the dialogue between Italy and UAE initiated by the Embassy of Italy to the UAE last year
Economy
Fitch downgrades Kuwait to “AA-“, with stable outlook
The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence.
- The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence
- There has been a lack of meaningful underlying fiscal adjustment to recent oil-price shocks and the outlook for reforms remains weak
Economy
Morocco to end flight ban, in place since November: Official
A government statement published by the country's official MAP news agency said that the ban would end on February 7.
- A government statement published by the country's official MAP news agency said that the ban would end on February 7
- The decision followed "the evolution of the epidemiological situation in the kingdom", the statement said
Economy
UAE launches ‘NAFIS’ to foster positive competition among its youth
The UAE has introduced a "NAFIS" program to foster positive competition among UAE nationals, and enable them to take job...
- The program will be steered by Emirati Talent Competitiveness Council (ETCC) in cooperation with the Federal Youth Authority.
- The program targets Emirati talents and connects them with private sector firms which are searching for qualified Emirati professionals to fill the job vacancies.
Economy
UAE industrial exports in 2021 $33bn amid surge in new production
The significant increase in the UAE’s industrial exports coincided with 220 new facilities commencing production in 2021, said Minister of...
- With the help of National In-Country Value (ICV) Programme, UAE pushed $11 billion back into the local market, the minister said.
- UAE rose five places in the Competitive Industrial Performance Index issued annually by the United Nations Industrial Development Organization.
Business
Federation of Saudi Chambers calls for better Arab-Russia trade relations
Chairman of the Federation of Saudi Chambers (FSC) Ajlan Al-Ajlan has called for preparing a roadmap to enhance economic relations...
- Chairman of the Federation of Saudi Chambers Ajlan Al-Ajlan recommends establishment of joint companies and an e-platform to promote Russian and Arab products.
- Al-Ajlan also stressed the importance of overcoming financial and banking obstacles and stimulating Russian banks to open branches in Saudi Arabia.
Business
Crown Prince Salman-headed Group to develop Saudi gaming industry
Saudi Arabia has launched a group to develop its video gaming industry, state media reported Wednesday, as the kingdom seeks...
- Video gaming and esports have grown in popularity in the kingdom of some 35 million people, the majority of whom are under the age of 25.
- Saudi Arabia's games market reached $1 billion in 2021, the highest value among the Arab countries of the Gulf.
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Company News
Latest News
IMF Global Outlook: Saudi slowdown to weigh on MECA growth
A projected decline in the Middle East and Central Asia from 5.4 percent in 2022 to 2.5 percent in 2023...
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...
Economy
Most Read
Economy
Qatar Free Zones Authority, Qatar Development Bank to support foreign investors
Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...
- The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
- The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
Economy
More Arab youth prefer entrepreneurship over govt job
Almost half of Arab youth are keen on starting their own businesses in the next five years, signaling a significant...
- Almost half of Arab youth are keen on starting their own businesses in the next five years, signaling a significant preference shift from government to private sector jobs
- Amid high youth unemployment rates in the region, the ASDA’A BCW Arab Youth Survey points out a rise in entrepreneurial aspirations, particularly in GCC countries
Economy
Abu Dhabi-Japan deal to boost economic diversification
“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role...
- Rashed Abdulkarim Al Blooshi, Undersecretary of the ADDED, highlights the importance of human development in Abu Dhabi's economic diversification efforts
- The Abu Dhabi Residents Office, an ADDED arm, and JETRO have signed an MoU to bolster efforts in attracting specialized talent and investors across the sectors