Iran and Russia to sign new contracts to develop oil, gas fields
Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy
Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
Economy
Economy
Lebanon telecom ministry’s budget to be based on two figures: Minister
Lebanon telecommunications ministry's budget would be based on two figures instead of one within the framework of the new state...
- The first figure took into consideration the possibility of continuing to charge consumers the same current tariff, based on the official rate of LBP 1500 per US dollar.
- The minister said the break-even figure for the ministry of telecoms at present is within the range of LBP 9000.
Business
Nokia expects strong 2022
The company said as a supply chain crunch and inflation are set to ease.
- The announcement follows a string of quarterly earnings surprises for the network equipment maker, which last October managed to boost its third quarter profits.
- Nokia now expects an operating margin ranging between 11 percent and 13.5 percent in 2022.
Economy
Qatar, IAEA join hands for nuclear projects with peaceful uses
Qatar’s Ministry of Environment and Climate Change has said the projects will cover a variety of sectors, including the medical,...
- Qatar already has 35 technical cooperation projects with the IAEA, including 10 national, 23 regional, and two global projects
- These have been implemented through more than 10 different institutions from the country
Economy
Lebanon residents join migrant flow to EU as economy spirals
Lebanon, a country of around 6 million people, is grappling with an unprecedented financial crisis that the World Bank says...
- Lebanon, in the throes of a brutal economic crisis, is no longer just a launchpad for Syrian refugees and other foreign migrants
- Its own desperate citizens now also risk drowning in the Mediterranean in their quest for a better life
Economy
GCC must heed IMF take on emerging economies
The IMF's warning that developing nations are about to face what it called “economic turbulence” is bad news for the...
- GCC countries are depending on emerging nations to diversify their own economies
- With those economies now under a cloud, the GCC nations should choose their next steps carefully
Economy
UAE private sector asked to pay employees through Wage Protection System
The UAE Ministry of Human Resources and Emiratization (MoHRE) called on private sector establishments to commit to timely paying the...
- Ministry of Human Resources and Emiratization asks employers to register and document any agreement with their workers regarding the change of wages through the approved system.
- The UAE has been the pioneer in launching the WPS, which, since its implementation in 2009, has been praised by the International Labor Organization.
Economy
Suriname, Tanzania, and Senegal explore investment opportunities at Expo
Suriname, Tanzania, and Senegal have explored investment and other opportunities to collaborate with the stakeholders from across the region and...
- Suriname is a country on the north-eastern Atlantic coast of South America, the most forested country of the world with 28 hectares of forest per capita.
- CEO Clubs Network organized an event dedicated to tourism opportunities in Tanzania.
Infographics
Saudization benefits thousands of citizens in 2021
The number of Saudi nationals who got jobs in the private sector crossed 1.9 million in 2021, the highest number...
- The number of Saudi nationals who got jobs in the private sector crossed 1.9 million last year, says the ministry
- The drive has also helped in creating an attractive and stimulating work environment for Saudi nationals in private sector
Business
Decrees regulating Dubai Chambers and their Boards issued by Sheikh Mohammed
Dubai Chambers has been established as a new entity, replacing the Dubai Chamber of Commerce & Industry, and Juma Al...
- One of the decrees establishes the Board of Directors for Dubai Chambers and appoints Abdul Aziz Al Ghurair as its Chairman.
- As per the new legislation, Dubai Chambers' main responsibility is to develop plans and policies to enhance the emirate's global status as an economic hub.
Economy
Egypt’s plasticware exports rose by 43% in 2021: Trade minister
Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted...
- Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted in 2020
- In 2021, the Egyptian exports recorded their highest growth of $31 billion despite the ongoing Covid-19 pandemic
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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
Iran and Russia to sign new contracts to develop oil, gas fields
Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy
Company News
Latest News
Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership
Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
Geostrategy
Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector
Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...
Economy
Iran looks to Arab states to propel its lackluster tourism sector
Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy....
Economy
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Business
ADNOC Gas signs deal with IOCL
It will export annually up to 1.2m metric tonnes of LNG.
- The 14-year agreement is valued in the range of $7 billion to $9 billion, signifying a major step in the partnership between the two industry players
- The deal marks another milestone for ADNOC Gas to expand its footprint around the globe, reinforcing the company's position as an LNG exporter
Economy
GCC becomes safe haven for expats amid uncertainty
While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security...
- While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security and optimism among expatriates
- As expats with 10 to 12 years of experience face challenges in their home countries, they are increasingly drawn back to the GCC, particularly Dubai, says an expert
Economy
Iraqis rally in heat against water, electricity crisis
Designated by the UN as one of the five countries in the world most touched by some effects of climate...
- United Nations has declared Iraq as one of the five countries in the world most touched by some effects of climate change
- "We have come to peacefully protest and demand water from the government and the source countries," Najeh Jawda Khalil told AFP