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
KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy
Economy
2021: Oil price hike rescues Covid-hit GCC economy
International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the...
- International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the end of November 2021, the highest level since October 2014
- Increased demand from major oil consumers like China, South Korea, India, and the European Union was responsible for the rise.
Geostrategy
Armenia to lift ban on Turkish imports as envoys set to meet
Earlier this month Turkey and Armenia named special representatives to work on the normalisation of ties.Turkey will be represented by...
- Arch-enemies Armenia and Turkey have recently made tentative moves to improve relations
- Arch-enemies Armenia and Turkey have recently made tentative moves to improve relations
Geostrategy
Critics of Turkish lira slide threatened with lawsuit
Finance Minister Nureddin Nebati urged citizens to sue economists who comment on social media about the lira's slide. His remarks...
- Lira entered a tailspin that saw it lose nearly half its value from the start of November to the moment President Erdogan announced new currency support measures last week.
- Nebati accused the commentators of using "psychological warfare" by urging Turks to buy gold and dollars in order to preserve their savings against further lira declines.
Economy
CBUAE fines exchange house $160,000 for using civilian vehicle to transport money
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent.
- The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent
- The CBUAE works to ensure that all licensed financial institutions operating in the UAE, including exchange houses, abide by UAE laws
Arts & Culture
Aleppo bathhouse boom as Syria crisis turns showers cold
The ancient bathhouses of Syria's second city Aleppo are filling up again, not because of a revived fad, but due...
- With their marble steam rooms, hexagonal fountains and distinctive domes, Aleppo's bathhouses have for centuries served as a social hub
- Shortages of water, fuel and electricity across war-torn Syria have also turned them into a refuge for those looking for a long, warm bath during the cold winter.
Economy
Jordan signs pact with Germany, EU to build water projects
The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The value of the EU’s bilateral support to the water and sanitation sector in Jordan is over 150 million euros
Economy
Jordan approves measures to stabilize commodities prices
Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30...
- Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months
- The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers
Geostrategy
Years after war, health sector ailing in Iraq’s Mosul
Apart from the hospitals, the rest of Mosul is also struggling to regain a sense of normalcy. Residents crowd into...
- The former stronghold of the Islamic State group, Mosul was devastated by the battle to oust the jihadists that ended in summer 2017
- More than four years on, the northern metropolis remains a patchwork of gutted concrete carcasses interspersed between buildings under construction
Economy
Libya orders arrest of second minister for financial irregularities
Prosecutors had already questioned Culture Minister Mabrouka Touki before the order was issued to detain her on charges of ‘falsifying...
- The culture minister, an academic with a degree in nuclear physics, was appointed in March as part of the interim unity government
- The probe relates to alleged graft over a contract for maintenance works on ministry buildings which had already been refurbished last year
Economy
School of Government and ADGM Academy launch investment program
The Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGM Academy) have launched the ‘Investment Foundations'...
- The program aimed at equiping Abu Dhabi government employees with knowledge and skills related to finance, ethics, and investment practices.
- Participants will receive a certification jointly accredited by the ADSG and Abu Dhabi Global Market Academy.
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
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
Company News
e&, Vodafone form relationship
Business
Latest News
Dana Gas posts fall in profit
Business
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
Business
Global debt dominates as G20 finance chiefs meet in India
Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of "the...
Economy
Standard Chartered sells Africa business
It sold the sub-Saharan Africa business to Access Bank.
Business
Most Read
Geostrategy
War-scarred Sudan refugees face soaring rent prices in Cairo
As Egypt said more than 250,000 people crossed in from Sudan -- fleeing ceaseless air strikes, street battles, rampant looting...
- Purchasing power in the import-dependent economy has been slashed as families struggle to make ends meet
- New arrivals from Sudan face hardships, with realtors reporting a sharp increase in demand in Egypt's Cairo
Economy
GCC, Japan resume Free Trade Agreement negotiations
Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of...
- GCC Secretary-General Jassem Mohamed Albudaiwi met with Prime Minister of Japan Fumio Kishida for talks and later their representatives signed a joint statement
- GCC secretary general said Japan's exports from the GCC countries touched $76.7 billion and its imports to the GCC was valued at $22 billion
Economy
Jordan, World Bank sign US$250m agreement to boost water efficiency
Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in...
- Nearly $200 million of the amount will be a soft loan from the International Bank for Reconstruction and Development, and $50 million will be in the form of a grant
- The Jordanian minister praised the World Bank for its partnership with the kingdom's government and support for reform and development needs in the country