Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
Geostrategy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Economy
China gives celebrities 10 days to shell out unpaid taxes
China has launched a sweeping state crackdown on tax evasion and perceived immoral behavior in the entertainment industry. The move...
- YouTuber Huang Wei was ordered to pay a record $200 million fine for tax evasion on Monday
- Actress Zheng Shuang was in August hit with a $46-million fine for tax evasion
Interview
Breathable sand could disrupt UAE agri-sector
The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and...
- The UAE is 80 percent desert, with less than 1 percent agricultural land
- Systemic, climatic, and geographic concerns threaten food and water security in the country
Economy
Queues grow longer at Istanbul’s discount bread shops
The queues are a worrying sight for Turkey's veteran President Recep Tayyip Erdogan, who is trying to fight inflation by...
- Countries usually raise borrowing rates to slow spending and bring down prices -- a policy mix the Turkish leader, a pious Muslim, rejects citing Islamic laws against usury.
- One newspaper claimed Istanbul mayor Ekrem Imamoglu was playing a "dirty game" by shutting down many of the discount bread shops, making the queues longer at existing ones.
Economy
Top company leaders highlight priorities for MENA governments at CEO Dialogue
Top company leaders highlight priorities for MENA governments at CEO Dialogue Leaders of top regional and international companies in the...
- The CEO Dialogue was hosted by the World Government Summit in collaboration with the Atlantic Council’s empowerME Initiative and Majid Al Futtaim.
- They discussed economic and social changes in the region over the past few years, development and opportunities for global growth.
Geostrategy
UN agency says to cut food aid to Yemen for want of funds
Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.
- Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014
- The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
Business
Indian Minister says UAE most popular tourist destination for his countrymen
The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament...
- The second and third most popular destinations for Indians were Thailand and Bangladesh, but their figures were way below those of the UAE.
- The Minister confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this year.
Geostrategy
Natural gas prices hit fresh record peaks on strong winter demand
European and UK gas prices rocketed Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key...
- European and UK markets beat previous records from October. They are currently about eight times greater than at the start of 2021.
- Runaway spot gas prices, alongside other buoyant commodities including crude oil, have fueled mounting concern about spiking inflation worldwide.
Economy
Lebanon needs $12-15 billion to kickstart recovery: Central Bank
Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up...
- Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst in modern times.
- Lebanon defaulted on its debt for the first time last year but political leaders have continued to resist key reforms demanded by donors to unlock necessary funds.
Economy
Foreign shoppers swarm Turkey after lira crash, rush likely to increase
Local traders say that the number of foreign shoppers has risen four to fivefold. Turkey's lira has crashed after Erdogan...
- Some of Europe's poorest countries -- go to stock up on everything from underwear to walnuts at a fraction of their cost back home
- Erdogan is betting that a cheap lira will create exports-driven growth that puts Turkey on a path followed by China during an economic transformation
Business
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.
- The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
- The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
Geostrategy
Company News
Latest News
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...
Economy
GCC becomes safe haven for expats amid uncertainty
While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security...
Economy
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Business
Saudi Arabia’s exports to Turkey hit $13.93 billion in three years
Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
- Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones.
- A total of 1,140 companies Saudi companies have invested in several sectors in Turkey, with investments surpassing $18 billion.
Business
Dubai issues law to regulate urban planning for sustainable development
Dubai, UAE -- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a law (No. 16 of 2023) to...
- The law seeks to create an integrated and effective urban planning system that promotes investment, sustainable development, prosperity, and an improved quality of life.
- To oversee the implementation of this law, a 'Supreme Committee for Urban Planning' will be formed, comprising representatives from authorities responsible for urban planning.
Economy
Rich-poor split could tighten ‘grip of poverty’: World Bank chief
The G20 talks come after Russia on Monday refused to extend a deal allowing critical Ukrainian grain exports through the...
- World Bank said it is working to increase its financial capability to spur growth and jobs, but said the future economy could not rely on expansion at the cost of the environment
- The United States says efforts to reform multilateral lenders such as the World Bank and other regional institutions could unlock $200 billion over the next decade