Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
Business
Dubai most popular holiday destination for 2022
The city overtakes London in the list of the "Top Destinations Around the World". Golden beaches, world-class restaurants, rave reviews...
- Dubai figured at the fourth place in the "trending destinations for food lovers" list and first in "Trip Advisors list for city lovers."
- More than 3.85 million tourists came to Dubai during the first nine months of 2021, according to the department of tourism and commerce marketing.
Business
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...
- The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
- The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
Economy
DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion...
- DEWA installed 222 kilometers of 400kV overhead transmission lines and 97 kilometers of 132 kV ground cables to connect the substations to the main transmission network.
- DEWA’s investments in existing and completed electricity transmission projects in 2021 reached AED9.5 billion.
Business
Israeli firm develops body cams with facial recognition
Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to...
- Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to scan crowds and detect suspects in real time
- Facial recognition in law enforcement has sparked global criticism, with US tech giants backing away from providing the technology to police, citing privacy risks
Economy
Plan to transform Amman into smart city completed: Mayor
Amman Municipality’s plan to transform Amman into a “smart city” looked at other countries’ experiences in this field.
- Amman Municipality’s plan to transform Amman into a “smart city” looked at other countries’ experiences in this field
- Amman also figured among Bloomberg’s winning cities in 2021-2022 mayors’ challenge
Economy
Fed sharpens inflation-fighting tools as rate hikes near
The Federal Reserve has its inflation-fighting weapons ready to fire, and when the US central bank's policy committee convenes this...
- The policy-setting Federal Open Market Committee (FOMC), which opens its two-day meeting on Tuesday, is widely expected to begin hiking interest rates in March
- By the end of 2021, policymakers conceded they had miscalculated and pivoted, announcing they were ready to attack inflation head on
Videos
Arab countries see surge in crypto investors
In 2021, Triple-A estimated global crypto ownership rates at an average of 3.9 percent, with over 300 million cryptocurrency-owners and...
- Consultancy firm Triple-A estimates global crypto ownership rates at an average of 3.9 percent
- The number of cryptocurrency investors is expected to rise in 2022, mainly in the UAE and Bahrain
Science
Iraq Forum for Clean Energy 2022 kicks off on Sunday
The ministry of oil endeavors to support all initiatives and efforts to gradually shift from traditional to clean and renewable...
- The companies include South Gas, Basra Gas, Shell and Siemens Energy, Schlumberger, Baker Hughes
- The forum will be used for discussing the programs for developing the renewable energy sectors in Iraq
Business
Two Iraqi banks to open in Saudi Arabia
The Saudi Central Bank has announced the opening of two branches of two Iraqi banks in Riyadh, and confirmed the...
- The bank also indicated the allocation of more than one billion Riyals ($270 million) to the Sports City.
- In 2021, the second training program for employees of the Central Bank of Iraq was started
Geostrategy
Germany to offer €100m loan to reform Tunisian banking sector
This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve...
- This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve access to financing for SMEs
- German Ambassador to Tunisia Peter Prüge said that the decision to give loan was taken in view of the roadmap for restoration of democracy prepared by Tunisian President Kais Saied
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy
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Saudi Arabia’s oil exports fell by nearly 38 percent in May
The share of oil exports in total exports decreased from 80.8 percent in May 2022 to 74.1 percent in May 2023, according to...
Economy
Jordan and Iraqi PMs renew pledge to boost economic ties
Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...
Economy
KNPC exports first shipment of 95 octane motor fuel to Europe
Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...
Business
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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...
- The presidency exhorted stakeholders in the food and agriculture sectors to speed up existing initiatives across food systems, agriculture, and climate action
- It also pleaded for action to ramp up innovation in the sectors in order to drive both development and climate action, leveraging mechanisms
Business
Saudia Cargo signs deal with Jan de Rijk
It will enable Saudia Cargo to widen network in Europe.
- As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
- Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions
Economy
Eurozone witnesses steepest downturn in eight months in July
The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its...
- "The eurozone economy will likely move further into contraction territory in the months ahead, as the services sector keeps losing steam."
- The eurozone's struggles were fueled by steep downturns signaled by surveys from economic powerhouses France and Germany.