Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
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
Analysis
UNWTO optimism to cheer up MENA tourism
While the likes of Egypt, Morocco, Tunisia, and Jordan depend heavily on tourism for revenue, the UAE and Saudi Arabia...
- UNWTO Executive Director Zoritsa Urosevic has said that the ‘future is bright’ for the tourism sector
- Tourists ‘will come back’ and the industry will recover from the pandemic because it is ‘very resilient,’ she said
Geostrategy
Gulf ministers visit China amid energy fears
The officials from Saudi Arabia, Kuwait, Oman and Bahrain, as well as secretary general of the Gulf Cooperation Council (GCC)...
- The officials from Saudi Arabia, Kuwait, Oman and Bahrain, as well as secretary general of the GCC Nayef bin Falah al-Hajrah, will be in China until Friday
- Recent unrest in oil and gas-rich Kazakhstan has raised concerns in China, which has long invested heavily in its central Asian neighbour's energy industry
Economy
IMF warns developing countries of ‘economic turbulence’
Emerging economies should gird for possible rough times as the US Federal Reserve prepares to raise interest rates and world...
- "Risks to growth remain elevated by the stubbornly resurgent pandemic," IMF economists Stephan Danninger, Kenneth Kang and Helene Poirson wrote in a blog post
- The highly contagious Omicron strain has spread like wildfire around the world since mid-December, causing record numbers of new Covid cases
Economy
Dubai ruler issues six decrees regulating Dubai Chambers
Dubai has passed legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The...
- The legislations include a decree establishing Dubai Chambers as a new entity that replaces the Dubai Chamber of Commerce and Industry
- The legislations also enable Dubai Chambers to map out a clear vision for the future by adding more roles and powers
Economy
Oil prices jump as unrest continues in Kazakhstan
Over the week, crude prices gained about 5 percent and on Friday Brent exceeded $83 per barrel.
- Kazakhstan is the largest oil producer in central Asia with a twelfth of the world's proven reserves, and produced around 1.8 million barrels a day in 2020
- The country is also the second largest oil producer in the OPEC+ group of top oil producers, behind Russia
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Company News
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UAE plays an active role in shaping better future for societies, says minister
NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better...
Geostrategy
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...
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...
Economy
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Economy
Saudi Arabia to host MENA Climate Week in October to ‘assess progress’
Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the...
- According to the ministry of energy, the event will examine the progress made in realizing the objectives outlined in the Paris Agreement
- It added the event will bring into focus the region's initiatives and approach to climate action and shed light on the impact of climate change
Economy
Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations
Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
- The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
- Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments
Economy
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...
- Exhorting customers to use its smart services, DEWA asked them to visit its website and smart app in order to protect people and property
- It urged customers to use proper insulation in order to cover wires and be careful of exposed wires and damaged electrical parts