China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
Turkey’s inflation rises to 67.1% in February
On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan...
Economy
Infographics
Where do Arab countries stand, according to GDP?
The most common way to quantify the economic health of a country is by calculating its gross domestic product (GDP).
- GDP is the total market value of all the goods and services produced within a country in a specific time period
- It is usually calculated on an annual basis, with the time period corresponding to the fiscal year rather than the calendar year
Geostrategy
WEF says ‘will defer’ Davos meeting over Omicron fears
The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be...
- Swiss authorities have recently stepped up health restrictions sharply to control a fifth coronavirus wave.
- Forum chief Klaus Schwab promised "continued digital convening of leaders from business, government and civil society".
Geostrategy
Dubai airport fully operational for first time since pandemic
Dubai airport, one of the world's busiest travel hubs, is fully operational for the first time since the coronavirus pandemic...
- Travel via Dubai increases at the end the year, with foreigners -- who make up the majority of the emirate's population -- heading home for the holidays.
- Since the pandemic began, the UAE has registered over 744,400 cases, including 2,152 deaths.
Economy
UN chief criticizes Lebanon leaders during his visit
Lebanon is in the throes of an economic meltdown that has been called by the World Bank as among the...
- The UN stands in solidarity with the people of Lebanon, Guterres said at a press conference with Lebanese President Michel Aoun
- However, he added that Lebanese political leaders ‘do not have the right to be divided and paralyze the country’
Economy
Tourism, retail to fuel Dubai economy growth in 2022
The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai...
- In 2022, the UAE economy is projected to record an estimated annual GDP growth rate of 3.4 percent
- The entire UAE economy began to recover in 2021 by registering an estimated annual GDP growth rate of 3.1 percent
Economy
Jordan minister urges officials to expedite services for citizens, investors
Nayef Steitieh told field managers in his ministry and across governorates to also look to replace expatriate workers with those...
- Jordan’s Minister of Labor Nayef Steitieh on Saturday, December 19, called for investing in e-transformation
- The move is expected to save time and effort of beneficiaries from the ministry's directorates and governorates
Business
Morocco may see its its waste problem blow up as recycling lags
Morocco’s official recycling aim is 20 percent garbage by 2022 which has been moved to 2030.
- No domestic organic waste is treated at the factory because “it’s too expensive”
- Official data shows that 66 illegal rubbish dumps in Morocco have been regularized or closed
Economy
Turkey faces medicine crisis as currency loses value
Turkey has been rattled by a currency collapse that accelerated by President Recep Tayyip Erdogan’s last-month steps that defy conventional...
- The Turkish lira has lost more than 40 percent of its value since the start of November alone
- A lira could buy 13 US cents in January, but was worth less than half that this month
Economy
Saudi Arabia advises citizens against foreign travel
The Saudi Public Health Authority has also announced new precautions for travelers entering the country.
- The Saudi Public Health Authority recommends that travelers coming from outside avoid social contact for at least five days
- Waqeya also advised people to take the Covid-19 PCR test in the event of respiratory symptoms or a temperature rise
Geostrategy
OIC says Afghanistan needs full support of member states
The OIC has said its members as well as non-members need to organize and implement an immediate humanitarian assistance plan...
- The OIC has said its members as well as non-members need to organize an immediate humanitarian assistance plan for Afghanistan
- The OIC humanitarian office in Kabul will assume the responsibility for the coordination of this aid
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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
China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
Company News
ADNIC records 17% profit rise
Business
Latest News
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...
Geostrategy
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...
Economy
Most Read
Geostrategy
Tunisia and EU sign ‘strategic’ deal on economy, migration
The deal between the two countries will include partnership on irregular migration, economic development and renewable energy. Tunisia has been...
- European Commission President Ursula von der Leyen said Sunday's accord aims to "invest in shared prosperity"
- The International Organization for Migration has said 2,406 migrants died or disappeared in the Mediterranean in 2022
Economy
Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
- The commercial transport activities sector has experienced consistent economic growth over the last two years fueled by e-commerce, said an official
- The number of registered commercial vehicles operated by these companies exceeds 300,000, reflecting a 16 percent growth rate compared to 2021, he noted
Geostrategy
Israeli court orders government to release seized Palestinian boat
GAZA CITY, PALESTINIAN TERRITORIES - Israel returned a boat to a Gaza fisherman it had seized for allegedly breaching the limits...
- Israeli authorities had called for the vessel, belonging to fisherman Mohammad al-Hissi, to be permanently confiscated.
- However, a Haifa court last month ordered that the boat be returned to Hissi even as legal proceedings continued.