A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
Economy
Economy
Libya oil company chief appeals for state investment
The National Oil Corporation is trying "to maintain a level of production of 1.2 million barrels per day" but hopes...
- The National Oil Corporation is trying "to maintain a level of production of 1.2 million barrels per day" but hopes for state investment in order to boost output
- Libya sits on the largest known oil reserves in Africa, and is heavily dependent on revenues from its oil and gas exports
Business
Saudi, UAE and Egypt gaming to reach $3.14bn
A young population, increased user spending, robust govt backing for games and e-sports and new players are poised to push...
- Around half of the Middle East's population is reported to be under the age of 25, and electronic games constitute an integral component of their entertainment.
- Saudi Arabia, the UAE, and Egypt attained a total gaming revenue of US$1.76 billion in 2021.
Economy
Millionaires, non-profits make joint appeal for wealth tax
A wealth tax on the world's richest people could raise at least $2.52 trillion per year.
- The proposal comes from a network of NGOs, social movements, and pro-tax millionaires
- It follows separate reports showing that the world's wealthiest people have grown richer during the pandemic
Science
Covid-19 pandemic far from over: WHO
The WHO has warned that the sheer numbers of people infected will mean many people are still falling seriously ill...
- The WHO has cautioned against a misleading narrative that the fast-spreading Omicron variant is risk-free
- It stressed that existing vaccines do a good job of protecting against developing severe Covid-19 and deaths
Economy
OPEC expects robust oil demand in 2022 to overcome Omicron threat
Global demand for oil is expected to remain "robust" in 2022 and overcome short-term disruption caused by the Omicron coronavirus...
- The Saudi-led group of top oil producers warned future virus strains and pandemic-related travel restrictions could threaten the global economic recovery.
- European crude benchmark Brent North Sea reached $88.13 per barrel, while US contract WTI hit $85.74 -- the highest levels since October 2014.
Business
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral trade
- Chairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
- Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Economy
Lebanon govt may hike power supply to 8-10 hours
Lebanon ministers said they aim to increase the hours of EDL’s power supply in the near future by securing Egyptian...
- Lebanon's economic crisis has seen its currency lose around 95 percent of its purchasing power
- This has caused fuel shortages that has led to power being supplied for just a few hours per household every day
Infographics
Gender bender: GCC moves to empower more women
Member countries of the Gulf Cooperation Council are increasingly working towards the empowerment of women.
- The UAE and Canada held discussions last month on how to enhance cooperation to empower women
- Statistics from Saudi Arabia from last year showed more women had entered the workforce, even as unemployment dropped
Economy
Libya’s parliament speaker calls for new government
A presidential election was due to take place on December 24, followed by legislative polls, but the UN-sponsored electoral process...
- Speaker Aguila Saleh said during a parliamentary session, in the eastern port city of Tobruk, that a new government must be formed
- The call comes as the UN urged Libya's political factions and parties to hold safe, inclusive, and credible polls as soon as possible
Business
Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global Ventures
- Global Ventures is a Dubai-based growth-driven venture capital firm focused on investing in growth-stage technology.
- Investing in progressive funds such as Global Ventures supports ambitious SMEs to expand their businesses, ISSF said.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Company News
Latest News
Electric vehicles, lithium-ion, solar batteries become new drivers of China’s foreign trade
Beijing, China - China's traditional export sectors, such as apparel, home appliances, and furniture, have been surpassed by electric vehicles,...
Economy
Saudi Arabia to host MENA Climate Week in October to ‘assess progress’
Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the...
Economy
Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations
Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
Economy
Most Read
Market Report
Asian markets swing as US jobs data disappoint
Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two...
- Data recently pointed to a weakening in the US economy that would help ease inflation, the Fed has said it needed to see more softening in the jobs sector.
- This week's stumble follows a rally last week when a faster-than-expected slowdown in US inflation stoked hopes the Fed could end its rate hikes. .
Business
Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...
- The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider food and agriculture sector.
- Sawani will work in partnership with the private sector to boost the production capacity of the camel dairy industry.
Opinion
Erdogan’s visit a game-changer for Turkish-Gulf ties
For the wealthy Gulf states, combining their resources with Turkiye's defense and industrial achievements will produce lasting benefits not only...
- Erdogan's visit was aimed to boost economic relations and tackle Turkey's economic challenges, writes Turkish Professor Ibrahim Karataş
- Major agreements were signed with Saudi Arabia and the UAE, with a strong focus on defense and economic cooperation, he adds