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
Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
Business
Dubai Integrated Economic Zones Authority appoints new leadership team
Dubai Integrated Economic Zones (DIEZ) Authority has appointed a new leadership team to drive its free zones and central divisions....
- Amna Lootah was appointed as a Director General DAFZ to lead and implement strategic plans according to the approved structure.
- Dr. Juma Al Matrooshi was appointed as Director-General of Dubai Silicon Oasis (DSO) to supervise the implementation of its strategy according to the new organizational structure.
Business
Dubai Chamber approves four-pronged strategy for next three years
Improving business environment in Dubai, attracting foreign investments and international companies to the emirate, supporting member companies with global expansion...
- Improving business environment in Dubai and attracting foreign investments and international companies to the emirate two of the four pillars of the strategy.
- Supporting member companies with global expansion and growing Dubai’s digital economy are the other elements of the strategy.
Economy
UAE works on Friday for first time
Some grumbled at the change and businesses were split, with many moving to the Western-style weekend but other private firms...
- The weekly day of prayer has always been a free day in the UAE, which had previously observed a Thursday-Friday weekend until 2006.
- Government bodies and schools will operate four-and-a-half-days per week, closing at 12 pm on Fridays for a fixed prayer time of 1:15 pm.
Business
Markets struggle ahead of US jobs report, expected interest hike by Fed
Global stock markets wavered Friday as dealers awaited vital US jobs data and mulled the Federal Reserve's readiness to hike...
- London stocks edged higher in late morning deals, while Frankfurt nudged lower and Paris was flat nearing midday in the eurozone.
- Bitcoin was also under pressure, falling for a second day to as low as $41,008, a level not seen since the end of September.
Business
UAE’s Central Bank says M1 rose by 2.1 percent at the end of Nov 2021
The Central Bank said on Friday that the Money Supply aggregate M1 increased by 2.1 percent, from AED 671.6 billion...
- The rise in M1 was due to AED 0.6 billion increase in Currency in Circulation Outside Banks and AED 13.8 billion increase in Monetary Deposits.
- The Money Supply aggregate M2 increased by 1.3 percent, from AED 1,498.3 billion at the end of October 2021 to AED 1,517.1 billion at the end of November 2021.
Economy
Bahrain’s economy grows 2.09% in Q3 2021
The national accounts report shows that the growth is the outcome of the rise achieved by the non-oil sector by...
- The national accounts report shows that the growth is the outcome of the rise achieved by the non-oil sector by 3.76 percent in real terms and 5.94 percent at current prices
- The oil sector fell by 4.63 percent in real terms and increased by 39.95 percent at current prices compared to the same quarter of 2020.
Economy
Turkey president eyes youth support ahead of 2023 election
Analysts think politically diverse Gen Z voters hold one of the keys to Erdogan's tricky path to presidential re-election.
- Unlike the youth of 2002, today's teens appear more tempted to blame his government for their woes
- These include runaway inflation, a battered currency, and an economy where more than 40 percent earn the minimum wage
Economy
Food prices rose 28.1% in 2021, may remain high in 2022: FAO
The FAO’s Food Price Index, which tracks monthly changes in international prices, averaged 125.7 points.
- FAO Senior Economist Abdolreza Abbassian explained that high prices are normally expected to ease as production increases to match demand
- This time, however, the global pandemic and ever climatic conditions ‘leave little room for optimism’ even in 2022, she said
Economy
UAE issues circular to ministries for remote working on Friday
The Federal Authority for Government Human Resources (FAHR) of the UAE issued a circular to all ministries and federal entities...
- Employees with residences far from workplaces would be prioritized as well as other humanitarian conditions in this aspect would also be considered.
- The step is taken to ensure continuity of service provision and the federal government’s proper functioning during the implementation of the remote working system
Business
India aims at boosting honey exports to UAE, Saudi Arabia
India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks...
- India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks ninth among the honey exporting countries globally.
- The markets of Indian honey where APEDA is planning to boost its export includes the UAE, Saudi Arabia, Bangladesh and Canada.
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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
Company News
RAK Ceramics’ profit soars in Q1
Business
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ADNOC Distribution’s profit up
Business
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...
Economy
Saudi Arabia’s exports to Turkey hit $13.93 billion in three years
Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
Business
Dubai issues law to regulate urban planning for sustainable development
Dubai, UAE -- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a law (No. 16 of 2023) to...
Business
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Economy
Trade hits new high as GCC-Japan ties get warmer
Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
- In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
- Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs
Economy
Qatari small and medium-sized companies sign deals worth US$201m in H1
Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting...
- Tasdeer said that many Qatari companies took part in international exhibitions and trade missions, including Gulf and Arab markets as well as Turkey and India
- It is eager to continue its programs seeking to accelerate the development of the private sector in line with the National Vision of Qatar 2030
Economy
Saudi Arabia and Bahrain to collaborate on speeding up sustainable development
New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning...
- The discussion took place in New York on the sidelines of the United Nations High Level Political Forum on Sustainable Development 2023
- The ministers spoke at length about the he innovative practices adopted by the two countries for achieving sustainable development and deepening their expertise