Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Analysis
Growing Islamophobia hits Islamic banking in Europe
The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers...
- The EU is believed to be home to close to 28 million Muslims, who may hold close to $1,247 billion in wealth
- The Islamic finance industry has failed to make any impact in Germany and France with relatively large Muslims populations
Economy
China Mobile eyes Shanghai IPO
China Mobile is set to raise $7.64 billion in share listing.
- The 48.7 billion yuan initial public offering would be one of the largest on China's domestic stock markets for a decade
- China's largest wireless carrier by revenue was removed from the New York Stock Exchange this year along with fellow state-owned telecoms firms China Telecom and China Unicom
Economy
Is GCC inflation out of control?
The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that...
- Food and beverages in Kuwait accounted for a whopping increase in prices, while education costs decreased 15.46 percent
- Saudi Arabia’s annual inflation increase is due to a 6.4 percent growth in transportation costs and a 1.4 percent rise in food and beverage prices
Economy
Turkish lira makes rare gains on ‘indirect’ rate hike
Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency...
- Erdogan announced a complex series of measures Monday aimed at boosting the lira
- The lira reversed a 10 percent loss Monday into a 10 percent gain after Erdogan's announcement
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
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
Company News
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e&, Vodafone form relationship
Business
Iraqis rally in heat against water, electricity crisis
Designated by the UN as one of the five countries in the world most touched by some effects of climate...
Economy
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),...
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...
Business
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Economy
Trade hits new high as GCC-Japan ties get warmer
Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
- In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
- Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs
Economy
Qatari small and medium-sized companies sign deals worth US$201m in H1
Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting...
- Tasdeer said that many Qatari companies took part in international exhibitions and trade missions, including Gulf and Arab markets as well as Turkey and India
- It is eager to continue its programs seeking to accelerate the development of the private sector in line with the National Vision of Qatar 2030
Economy
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...
- The discussion took place in New York on the sidelines of the United Nations High Level Political Forum on Sustainable Development 2023
- The ministers spoke at length about the he innovative practices adopted by the two countries for achieving sustainable development and deepening their expertise