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
European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
Economy
World Bank okays $90m in pandemic aid for Iran
World Bank support for Iran's Covid-19 response is expected to help the country mitigate the ongoing humanitarian crisis within its...
- World Bank has approved granting $90 million worth of support for Iran to combat COVID-19 pandemic
- World Bank had extended $50 million for Iran Covid-19 Emergency Response Project in May 2020
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
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
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
Company News
Latest News
GCC, Central Asian states pledge to boost strategic ties
The two sides endorsed a comprehensive joint statement that called for the boosting of political and strategic ties and strengthening...
Economy
Harness AI opportunities, assess threats to peace
"AI development is now outpacing Moore's Law and moving at breakneck speed, and governments are unable to keep up. This...
Economy
Turkey, UAE sign agreements worth over $50bn
Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40...
Business
Most Read
Business
Governments should provide incentives for green finance, says Dubai Chambers’ webinar
DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...
- The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
- The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
Economy
Saudi Arabia tops MENA region in venture capital investment during H1 2023
Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding...
- The Kingdom accounted for 42 percent of the total capital deployed in the region during H1 2023, up from 31 percent in 2022.
- -commerce and retail were the highest sector in the Kingdom by the amount of funding and by number of deals in H1 2023
Economy
Sharjah Chamber, Costa Rica discuss boosting economic ties
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations....
- Discussions focused on strengthening commercial and industrial cooperation and investment among the private sector organizations and institutions
- The chamber noted the incentives, privileges, and various forms of support and assistance offered by the emirate to foreign companies