China’s annual political conclave starts as economy sputters
Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will...
Economy
Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
Economy
China saw pandemic-defying GDP growth slow last year
Growth in the fourth quarter was the slowest in more than a year, at 4 percent, down from 4.9 percent...
- China is the world's second-biggest economy, and a key driver of global growth
- It expanded 8.1 percent in 2021, but much of that came in the first half of the year
Business
Amman Chamber of Industry exports up by 17 percent in 2021
The exports of the Amman Chamber of Industry (ACI) increased last year in 2021 to "high" levels, compared to 2019,...
- The United States, India, Saudi Arabia and Iraq accounted for the majority of the Chamber's exports last year, with a value of JD3.111 billion.
- ACI exports rose during the same year to many Arab and foreign countries, most notably Indonesia, Egypt, Brazil, Algeria, Turkey, Sudan, Yemen and Malaysia.
Economy
80 global leaders to address Abu Dhabi Summit ‘virtually’
The Abu Dhabi Sustainability Week summit, hosted by Masdar, will take place virtually on Monday, 17th January. The Summit will...
- The Summit will take place between 1:00pm – 9:00pm GST, and will convene more than 80 global leaders
- The opening sessions of the ADSW Summit will include a head of state address from President Halimah Yacob of Singapore
Economy
IRENA sees rapid growth of hydrogen economy
The development may bring significant geo-economic and geopolitical shifts in the energy market, which is currently valued at $174 billion.
- IRENA estimates hydrogen to cover up to 12 percent of global energy use by 2050
- This is due to the climate urgency and countries’ commitments to net-zero emissions
Economy
IMF official urges ‘deep reforms’ to Tunisian economy
Tunisia's debts have soared to nearly 100 percent of Gross Domestic Product.
- Tunisia's GDP plunged by almost 9 percent in 2020, the worst rate in North Africa
- This was only modestly offset by a 3-percent bounce-back last year
Economy
Residential areas in focus as real estate prices surge in Kuwait
The real estate housing price rose in Kuwait last year, where investors focused on Kuwaitis' residential areas dealing in uninhabited...
- Some residential districts, mainly inhabited by citizens, witnessed more than 35 percent rise in rates of the plots, leading to record growth of property assets
- The investors sold 375-square-meter houses in Kuwaiti's residential districts such as Al-Khaldiya and Al-Yarmouk in May at a profit of $300,000 in May
Geostrategy
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.
- The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
- Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
Economy
S&P affirms Kuwait credit rating at A+ with negative outlook
"The government has almost exhausted the General Reserve Fund's liquidity", said the rating agency.
- It argued that despite higher oil prices and production levels, Kuwait's central government deficits are set to average 12 percent of GDP
- It, however, noted that it could revise the outlook to stable if the government successfully addresses Kuwait's existing fiscal funding constraints
Economy
Rabat: ‘MoroccoTech’ brand to promote digital sector
MoroccoTech aims to position the country as a digital destination of choice internationally.
- MoroccoTech aims to position the country as a digital destination of choice internationally
- The initiative is intended to promote Morocco as a producer of premium technologies and an investment destination
Economy
UAE cabinet endorses labor and industrial laws
Chaired by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice President, Prime Minister of the UAE, the...
- The Cabinet approved as well, a decision to establish the Executive Office for Control and Non-Proliferation
- The cabinet also approved the executive regulations of the Federal Law regarding the regulation and protection of industrial property rights
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China’s annual political conclave starts as economy sputters
Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will...
Economy
Company News
Latest News
GCC, Central Asian states pledge to boost strategic ties
The two sides endorsed a comprehensive joint statement that called for the boosting of political and strategic ties and strengthening...
Economy
Harness AI opportunities, assess threats to peace
"AI development is now outpacing Moore's Law and moving at breakneck speed, and governments are unable to keep up. This...
Economy
Turkey, UAE sign agreements worth over $50bn
Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40...
Business
Most Read
Business
Governments should provide incentives for green finance, says Dubai Chambers’ webinar
DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...
- The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
- The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
Economy
Saudi Arabia tops MENA region in venture capital investment during H1 2023
Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding...
- The Kingdom accounted for 42 percent of the total capital deployed in the region during H1 2023, up from 31 percent in 2022.
- -commerce and retail were the highest sector in the Kingdom by the amount of funding and by number of deals in H1 2023
Economy
Sharjah Chamber, Costa Rica discuss boosting economic ties
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations....
- Discussions focused on strengthening commercial and industrial cooperation and investment among the private sector organizations and institutions
- The chamber noted the incentives, privileges, and various forms of support and assistance offered by the emirate to foreign companies