Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
US consumer inflation in Feb up as Federal Reserve mulls rate cut
The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...
Economy
Economy
Jordan revenues from income, sales tax hit $7.35bn in 2021
While sales tax collection rose 14 percent, income tax collection rose 7 percent from 2020 to 2021.
- Sales tax collected by Jordan in 2021 reached JD4.037 billion ($5.69 billion), up from JD3.534 billion ($4.98 billion) in 2020
- Revenues collected as income tax in 2021 reached JD1.176 billion ($1.66 billion), up from JD1.103 billion ($1.56 billion) in 2020
Economy
World economy at risk as Omicron engulfs Europe
More than half of people in Europe will likely catch Omicron by March, the WHO has said amid a World...
- The WHO's regional director for Europe Hans Kluge described a ‘new west-to-east tidal wave sweeping across’ the region
- The WHO's European region covers 53 countries and territories including several in Central Asia, 50 of them had Omicron cases
Economy
Lebanon prosecutor hits central bank chief with travel ban
Riad Salameh is among the top Lebanese officials blamed for a financial crisis that the World Bank says is of...
- The travel ban is pursuant to a lawsuit filed by an activist group against Riad Salameh over alleged financial misconduct
- Salameh has also been summoned for questioning over the case but the exact date of the session has yet to be publicly disclosed
Business
Tadweer of Abu Dhabi to hold ‘EcoWASTE’ exhibition
The exhibition and forum cover various fields, including recycling and waste management and treatment in the MENA region.
- It will begin from17th January to 19th January 2022 in Abu Dhabi at National Exhibition Center (ADNEC) as part of the Abu Dhabi Sustainability Week
- The forum would also work as an integrated platform for developing and formulating practical and sustainable waste management practices
Geostrategy
Covid and its effects continue to pose threat to world: WEF risks report
The Global Risks Report 2022 released by the World Economic Forum said vaccine inequality and a resultant uneven economic recovery...
- In the poorest 52 countries—home to 20 percent of the world’s people—only 6 percent of the population had been vaccinated so far.
- By 2024, developing economies (excluding China) will have fallen 5.5 percent below their pre-pandemic expected GDP growth,
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
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
Company News
Latest News
‘UAE committed to global sustainability, job creation’
“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills...
Economy
UAE and UN to boost climate action cooperation in run up to COP28
New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action...
Economy
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Most Read
Economy
Nations look to sign deep sea mining rules by 2025
The member nations of the International Seabed Authority (ISA) agreed on a two-year roadmap for the adoption of deep sea...
- The ISA Assembly and its 167 member states next week will discuss a "precautionary pause" in mining, supported by about 20 countries
- Scientists believe deep sea mining can destroy habitats and species that may still be unknown but are potentially vital to ecosystems
Economy
Morocco’s women football team to make history in World Cup debut
When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play...
- Its women team had a surprise run to the final of last year's Africa Cup of Nations, before losing 2-1 to South Africa
- It is in Group H at the Women's World Cup and as well as Germany will face South Korea and Colombia
Economy
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,...
- These "new three" industries have contributed to an impressive 61.6 percent year-on-year increase in total export value during the first half of 2023
- A combination of factors, such as production innovation and favorable policies, has facilitated the export growth of these sectors