Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
Geostrategy
Economy
Jordan’s tourism revenues hits $2.7 billion in 2021
The higher revenue this year as a result of the increase in the number of tourists, which was 2.358 million.
- Tourism contributes in a significant way to the economy of Jordan
- However, some observers say that the sector has a lot of room for improvement
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
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Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Company News
Latest News
DEWA exhorts customers to take ‘measures’ in order to avoid fire
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has called on the public to take all necessary measures to avoid the...
Economy
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...
Market Report
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...
Business
Most Read
Economy
Travel companies give wings to Saudi tourism aspirations
Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination...
- The Kingdom, aiming to draw 100 million yearly visitors by 2030, is planning to invest over US$1 trillion in tourism over the next decade
- Travel companies play a key role in promoting Saudi tourism, developing packages, and collaborating with public sector entities
Business
FAB H1 2023 net profit $2.2bn
It is highest ever profit achieved by FAB in a half-year.
- Return on Tangible Equity (ROTE) increased substantially to 18.6 percent as of June-end 2023.
- Strong capital accretion lifted group Common Equity Tier 1 to 13.6 percent as of June-end 2023.
Science
UAE emissions plan ‘insufficient’, say climate groups
PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis...
- The UAE, which will host the COP28 United Nations talks in November and December, has released its updated climate plans.
- The plans laying out a tougher target to reduce its greenhouse gas emissions by 19 percent by 2030 compared to 2019 levels.