$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...
Economy
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
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.
Economy
Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was...
- The value of exports amounted to SAR106.2 billion ($28.2 billion) in October 2021, up from SAR55.9 billion in October 2020.
- The share of oil exports in total exports increased from 66.1 percent in October 2020 to 77.6 percent in October 2021.
Videos
Which are priority sectors in 2022 Saudi budget?
With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors...
- Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil
- For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone
Economy
Climate crisis puts oil in the crosshairs, but dependence persists
The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if...
- Fossil fuels, represent 80 percent of energy consumed, and were explicitly blamed for driving climate change at COP26
- This was not the case when the Paris climate pact was reached in 2015
Economy
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.
- The aid included both periodic and lump-sum amount, and disbursed by the fund's management to the eligible families
- Zakat performers can pay their zakat via the Zakat Fund website , offices, and collection points
Business
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.
- The discussion took place in a meeting between UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan and Morocco Prime Minister Aziz Akhannouch
- They are also said to have reviewed the latest developments in the Arab region and exchanged views over a number of regional and international issues of common interest
Market Report
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
- The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020
- Saudi index gained 0.6 percent on Thursday backed by a 0.9 percent rise in Al-Rajhi Bank
$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...
Economy
Company News
ADNOC Distribution’s profit up
Business
Latest News
Sharjah Chamber, Costa Rica discuss boosting economic ties
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations....
Economy
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
Business
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...
Economy
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Economy
Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector
Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...
- The country's economic recovery plan aims to boost growth, attract investments and create job opportunities
- Its real estate, hotels, restaurants and trade all grew between 4.2 percent and 5.3 percent during the quarter
Economy
Iran looks to Arab states to propel its lackluster tourism sector
Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy....
- Visitors at ancient Iranian sites can be heard speaking Arabic, Chinese and Russian and not English, French or German
- With its ancient splendors like the cities of Shiraz, Isfahan and Mashhad, Iran has attracted visitors from far and wide
Economy
Dubai Chambers to host two-day event in November on global trade
Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year...
- The two-day event running under the theme of "Shifting Economic Power" Dubai and the future of global trade" will be held at Madinat Jumeirah
- The occasion will see leaders from sectors as diverse as technology, retail, finance, travel and hospitality, real estate, and healthcare