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
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Analysis
GCC countries competing to lead the world in AI
Several countries in the region have already formed AI policies to support their national goals after this technology demonstrated its...
- The Middle East AI market is growing at a rate of 20-34 percent per year, according to a PwC report
- Saudi Arabia is lavishing $500 billion on the NEOM’s project, which will offer ultra-connectivity, and is trialing air-taxis
Economy
Dubai government approves budget for 2022-24
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...
- The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
- Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Economy
Value and volume of Qatari real estate deals rise in November
The total number and value of sold real estate in Qatar have increased at a monthly rate of 2.8 percent...
- The issued cash increased by 3 percent, compared to October 2021, and at an annual rate of 20.7 percent, compared to November 2020.
- Total Broad Money Supply (M2) recorded about QR619.3 Billion during November 2021, an annual increase of 6.2 percent compared with November 2020.
Business
Expatriate remittances to Morocco exceeded $9.32bn till Nov 2021
Expenses stood at 9.8 billion dirhams at the end of November 2021, against 9.58 billion dirhams a year earlier and...
- Exports improved by 9.1% to reach 127.5 billion dirhams at the end of November 2021, and imports increased by 12% to 67.55 billion dirhams
- Travel revenues stood at 31.96 billion dirhams at the end of November 2021, against 31.72 billion dirhams at the end of November 2020
Russia, Iran eye trade and economic collaboration
Russian President Vladimir Putin has invited Iran’s President Ebrahim Raisi in Moscow for discussion over expanding strategic cooperation.
- A treaty on mutual relations and principles of cooperation between Iran and Russia turned 20 on March 12, 2021
- The diplomatic apparatus of Russia and Iran described the treaty as a turning point in both countries’ relationship
Economy
Tunisia central bank calls to avoid monetary financing of budget deficit
The Banque Centrale du Tunisie (BCT) board has urged for continued coordination between financial and monetary policies.
- The central bank reaffirmed its intention to closely monitor all economic, monetary, and financial developments
- It also said it would use mechanisms at its disposal to support the country’s economic recovery while containing inflation
Economy
EU moves to label nuclear, gas energy as ‘green’
The fact that the European Commission quietly distributed the text of this proposal to member states late on Friday, in...
- The proposal aims to support the 27-nation bloc's shift towards a carbon-neutral future
- It also looks to gild the EU’s credentials as a global standard-setter for fighting climate change
Economy
Tunisia launches national consultation to make new constitution
Eligible topics include electoral, economic, financial, social, developmental, health, education and cultural affairs.
- The move is part of a reform package pushed by President Kais Saied
- The exercise calls on citizens to send in suggestions and will last until March 20
Economy
Global stocks end strong year with losses
On Wall Street, the broad-based S&P 500 had its best December in over a decade, and scored a third straight...
- On Wall Street, the broad-based S&P 500 had its best December in over a decade, and scored a third straight year of double-digit gains with a 27.1% jump
- In Asia, Hong Kong's main stocks index finished with gains Friday, on surging Chinese tech shares
Economy
Cryptocurrency’s volatility may ease this year
Experts believe that 2022 will be a milestone year for bitcoin, with the ups outweighing the downs. Cryptos may suffer...
- Some experts believe that improved use and legality of cryptocurrencies will help reduce the wild swings in their prices
- The Dubai World Trade Center has announced it would become a specialized area in encrypted assets, including digital assets
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
Company News
Latest News
Egypt to resume exports of LNG by October: Tarek El Molla
Cairo, Egypt-- Egypt is looking to resume exports of liquefied natural gas exports by October, according to the country's petroleum...
Economy
UAE Corporate Tax: Workshop identifies conditions for determining taxable, exempt persons
Abu Dhabi, UAE - The conditions determining taxable and exempt persons, corporate tax rates and tax periods. were highlighted at...
Economy
Lebanese activists struggle against rampant beachside development
Amchît, Lebanon--In a pristine patch of Lebanon's north coast, a rare marine visitor has fueled opposition to a seafront development, in...
Economy
Most Read
Science
UAE and Egypt to boost cooperation in higher education, scientific research
Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific...
- The Egyptian minister noted the depth of the ties across all levels between the two countries, especially in scientific, cultural and educational fields
- The UAE official applauded the relations between the UAE and Egypt, noting the latter's role in the education field and stressing UAE's resolve to deepen ties
CBUAE Governor, IMF Managing Director explore areas for cooperation
Abu Dhabi, UAE - Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE) discussed ways...
- Balama and Georgieva discussed efforts by the IMF and central banks toward enhancing the integrity of the financial system and supporting global economic growth
- The CBUAE's ambitious agenda for green financing, aligned with the UAE's strategy for sustainable economic growth and financial stability, was also a key topic of discussion
Economy
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...
- Both sides stressed the need for regional and international security and promotion of renewable energy sources
- Pledges were made to invest in sectors like green economy, digital economy, innovation and green technology