Ajman eyes endowment-driven growth, social solidarity
"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...
Economy
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
Economy
Economy
Iraq saw rise of positive economic indicators in 2021: Planning Ministry
Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken...
- People regaining their jobs after easing of Covid restrictions helped boost projects in the private sector.
- Although the Planning Ministry is yet to prepare a report on economic indicators for 2021, there is an improvement in many fields, says a spokesman.
Business
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
- This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
- The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy
Oman central bank’s FX reserves reached $18b in 2021
The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.
- The bank’s board of governors observed that the total demand for foreign currency in the local market was at satisfactory levels
- This, it opined, has brought the FX reserves of CBO in equation with the value of nine months of country’s imports
Economy
Iraq records high positive indicators for the economy in 2021
The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an...
- All economic development movement shows positive results, the Ministry of Planning has said
- The government projects that were suspended due to the financial and economic crisis have been resumed
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.
Ajman eyes endowment-driven growth, social solidarity
"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...
Economy
Company News
RAK Ceramics’ profit soars in Q1
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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...
Business
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...
Economy
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Business
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
- The maturity period is of five years at a profit rate of 8 percent annually.
- The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Economy
Turkish President Erdogan concludes economy-driven Gulf tour in UAE
The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage...
- The UAE and Turkey have signed numerous strategic agreements and MoUs to boost bilateral cooperation across various sectors
- In 2022, non-oil trade between the UAE and Turkey reached nearly US$19 billion, reflecting a substantial increase from previous years
Geostrategy
Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership
Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
- Erdogan and Sheikh Tamim also discussed important regional and international developments and witnessed the signing of a joint statement
- Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region