Qatar Central Bank head calls for enhanced GCC action to tackle challenges
Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
Economy
Vision 2030 empowers women in Saudi legal sector
"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have...
Opinion
Economy
Jordan tourism revenues pass $21 million in first 11 months of 2021
The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
- The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
- Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Economy
Saudi Arabia, UAE eye strong growth amidst challenges
London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf...
- Saudi Arabia will jump from t19th to 17th in the World Economic League Table by 2021
- The UAE is expected to move up in the table from 34th in 2021 to 33rd in 2036
Economy
Palestine Q3 current-account deficit stands at $316m
The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by...
- This deficit in the current account was mainly triggered by the deficit of the trade balance of goods, which reached $1,464 million
- The total transfers from abroad amounted to $602 million, of which 17% were the transfers to the government sector
Economy
Jordan to disburse $1.4m to drought-affected farmers
Jordan will distribute JD1 million to compensate those suffered losses due to the Al Waleh Dam draught and cross-border fires...
- Jordan's cabinet had approved the disbursement of JD1 million in compensation from the Agricultural Risk Fund
- Jordan as tasked specialized committees to limit the damages in the northern Jordan Valley and the Al-Wala Dam
Geostrategy
UAE residents can recycle used cooking oil at Bee’ah Tandeef machines
Waste management and environment company Bee’ah Tandeef has launched a service that allows people to recycle used cooking oil so...
- Bee’ah Tandeef will turn the waste cooking oil into biodiesel that will be used to run its fleet of waste collection trucks.
- The collection machine also dispenses a new empty bottle whenever a bottle is deposited.
Economy
Council of Arab Ministers declares Muscat Arab Digital Capital for 2022
Oman's capital Muscat will be the Arab Digital Capital for 2022, the Council of Arab Ministers for Communications and Information...
- Oman had made cyber-security, digital innovation and digital capabilities development focus of its candidacy.
- Oman's communications minister said that the decision reflects the confidence of Arab countries in the digital and legal capabilities of Oman.
Economy
Top 10 weather disasters cost $20bn more than last year: NGO
Each year, UK charity Christian Aid calculates the cost of weather incidents like flooding, fires, and heat waves according to...
- Christian Aid said the upward trend reflects the effects of man-made climate change
- It added that the 10 disasters in question also killed at least 1,075 people and displaced 1.3 million
Business
Ecommerce changes GCC buyers, sellers forever
As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
- Retailers in the region are becoming more aware of the necessity to create ‘brand.com’ sites
- AR and AI will become more commonly used to improve the consumer experience
Economy
Afghanistan’s asset freeze hurts everyone
To avoid giving the Taliban access to Afghanistan's reserves, Washington froze an estimated $10 billion held by the central bank...
- Ordinarily, the reserves could be dipped into to pay overdue government bills and development projects, but the freeze has trickled down to the rest of the economy.
- The United Nations Security Council on Wednesday unanimously adopted a US resolution to help humanitarian aid reach desperate Afghans.
Economy
UAE and Spain discuss cooperation in renewable energy, water sectors
Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and...
- The two sides also discussed initiatives and programs that consolidate the transition towards a green economy.
- DEWA CEO Saeed Mohammed Al Tayer held a meeting with Iñigo de Palacio, Spain’s Ambassador to the UAE.
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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 Central Bank head calls for enhanced GCC action to tackle challenges
Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
Economy
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e&, Vodafone form relationship
Business
Saudi Arabia and Bahrain to collaborate on speeding up sustainable development
New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning...
Economy
Qatar: Commercial Bank profit rises by 8.5%, Masraf Al Rayan’s dips by 24%
Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching...
Business
Egypt building collapse kills eight residents in capital
According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo...
Economy
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Economy
Saudi Arabia: An emerging tourism hub
The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
- With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
- Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow
Business
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.
- OQGN is the exclusive operator of the natural gas transportation network in Oman.
- This is considered one of the largest syndicates of Sharia-compliant financing in Oman.
Business
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.
- The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
- The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.