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
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
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
Economy
Tunisia protests on revolution anniversary as economy spirals
Many Tunisians are tired of a system that is seen as graft-ridden and ineffective, and have welcomed the protests.
- Tunisian President Kais Saied has prolonged his suspension of parliament until elections in December 2022
- He also announced a nationwide public consultation to draw up a new constitution
Economy
‘2022 Iraq budget depends on formation of new govt’
The Iraqi fiscal year ends on December 31, 2021, and the effective financial management law begins from the first day...
- The Iraqi fiscal year ends on December 31, 2021, and the effective financial management law begins from the first day of January 2022
- Iraq is in the process of forming a new government following the recent election in which the cleric Muqtada al-Sadr’s movement Saeroon won the most votes
Economy
Fed official sees first US rate hike in spring 2022
Fed Governor Christopher Waller said the decision announced Wednesday gives policymakers the ability to respond quickly with an increase in...
- The Fed earlier this week announced it will accelerate the end to its stimulus program after inflation last month saw its biggest jump in nearly four decades
- Quarterly forecasts from Fed policymakers also released this week signaled the likelihood of three interest rate hikes next year
Economy
US$20bn Jeddah Central Project launched
The project envisions the creation of a world-class destination overlooking the Red Sea in the heart of Jeddah.
- The project envisions the creation of a world-class destination overlooking the Red Sea in the heart of Jeddah
- It is expected to achieve an estimated added value of SR47 billion riyals for the Kingdom's economy by 2030
Economy
Arab forum discusses building capacity of cities to face climate change
The forum was held in conjunction with the 38th session of the high-level Arab Ministers of Housing and Construction.
- The forum was held in conjunction with the 38th session of the high-level Arab Ministers of Housing and Construction
- It also discussed new Arab vision towards urban development characterized by safety, justice, resilience and sustainability
Economy
Jordan secures €70m EIB soft loan to uplift water-use efficiency
According to a press release by the Ministry of Planning and International Cooperation, the loan is expected to benefit about...
- According to a press release by the Ministry of Planning and International Cooperation, the loan is expected to benefit about 300,000 people
- A water reservoir with a capacity of 30,000 cubic meters will also be built, to enable the Jordan Valley Authority to supply water to farmers in the dry seasons
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
Company News
e&, Vodafone form relationship
Business
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Dana Gas posts fall in profit
Business
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...
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.
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...
Economy
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Business
Qatar: Commercial Bank profit rises by 8.5%, Masraf Al Rayan’s dips by 24%
Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching...
- The figures issued by the bank website showed an increase in the EPS of Commercial Bank of QR 0.37 ($0.10) in the first half of 2023
- The financial statement of Masraf Al Rayan revealed a decline in net profits by 24 percent, to $207.12 million in H1 2023
Economy
Egypt building collapse kills eight residents in capital
According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo...
- Many buildings in central Cairo dating back to the 19th and early 20th centuries are in dilipidated condition
- There have been many building collapses in recent years in Egypt due to non-compliance with regulations
Economy
UAE ranks first in Arab region and 29th globally in UN Industrial Performance Index
Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen...
- This index gauges and compares the strength of industrial competitiveness within countries
- The UAE has remained in the CIP’s top quintile, reflecting its position as a regional and global player in the industrial sector