Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
Business
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
Economy
Economy
Arab youths are increasingly saving, investing with fintech
The region's economic instability, exacerbated by the coronavirus pandemic, has spurred many to turn to online banking and financial tools.
- S&P Global said in a 2019 report that indicators showed Gulf Arab countries appeared the readiest for fintech adoption
- The key driver was expected to be demand and a preference by clients for digital banking
Economy
Morocco’s economy to grow 6.3% in 2021, says IMF
Morocco’s new government aims to narrow the wealth gap in the country where unemployment is running at almost 13 percent....
- After shrinking at 6.3% in 2020, Morocco's GDP is expected to grow at 6.3% in this year
- Morocco's health crisis caused by coronavirus has been controlled
Economy
North Syria feels the pinch as Turkey lira nosedives
Inflation in Syria is soaring just as fast as it is in neighboring Turkey, with basic food items such as...
- The town of Al-Bab lies in northern Syria in recent years has turned into a de facto Turkish protectorate
- Because the Turkish lira is now the main currency in the area, its recent nosedive has heaped further pain on the people living there
Economy
Social insurance protection is for all GCC citizens, says UAE
As per the system, the insured will receive end of service benefits in accordance with the retirement law in the...
- The decision to provide the social insurance protection system to GCC citizens working in other countries was issued by GCC
- The UAE began implementing the system of extending social insurance protection on 1 January 2007 under law No.18
Economy
Dubai becomes world’s first paperless government
The Dubai Paperless Strategy was implemented in five consecutive phases, each of which enlisted a different group of Dubai Government...
- The strategy was launched in 2018 to help Dubai become the world’s first paperless government
- The Dubai Paperless Strategy was implemented in five consecutive phases, each of which enlisted a different group of Dubai government entities
Economy
Libya conference seeks investment in country’s south, the gateway to Africa
The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and...
- The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and international participation
- The participants sought investments in renewable energies, mining, agriculture, tourism, real estate investment, infrastructure and free zones
Economy
Germany gives €21 million to support Palestinian refugees
Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank...
- Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank have continued access to learning in UNRWA schools
- The country will also support the early recovery of Palestine refugees in Gaza affected by the latest Israeli aggression through a €6 million contribution
Economy
S&P lowers Turkey outlook to negative, citing ‘rising risks’
Turkey's annual inflation has surged above 20 percent to its highest level in three years after President Recep Tayyip Erdogan...
- The move was part of Erdogan's strategy to revive his sagging approval numbers ahead of an election due by 2023
- In justifying its outlook downgrade, S&P pointed to both price increases and the lira currency's loss in value as risks
Business
UAE elected to Council of International Maritime Organization for third time
The UAE has been re-elected to the Council of the International Maritime Organisation (IMO) in the Category B membership for...
- The results of the election were announced during the 32nd session of the IMO Assembly in London.
- UAE ranks fifth as a key competitive maritime hub and 13th globally in Port Performance and Efficiency Index.
Business
Global Business Forum ASEAN ends, records 1,368 participants
A total of 1,368 delegates from 58 countries – including 250 virtual participants – attended the first edition of the...
- GBF ASEAN was held 8-9 December and organized by Dubai Chamber in partnership with Expo 2020 Dubai under the theme ‘The New Frontiers’.
- The Forum is part of Dubai Chamber’s flagship Global Business Forum series, which was launched in 2013 to explore economic opportunities in Latin America and Africa.
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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
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
Business
Company News
Alba posts Q1 profit drop
Business
Latest News
OPEC anticipates 2.2% growth in oil demand in 2024
Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in...
Business
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
Economy
Most Read
Geostrategy
Tunisia protestors demand jailed opposition figures be freed
Around 100 protesters rallied in Tunisia's capital to demand freedom for detained critics of President Kais Saied who has ruled...
- In addition to the crisis triggered by President Saied's power grab, Tunisia has been shaken by a serious financial crunch and is in search of foreign aid.
- European parliamentarians expressed their opposition to any "unconditional agreement" between the EU and Tunisia, citing "the excesses" of Saied.
Business
Pressure on Beijing to unveil stimulus measures as exports tumble
Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in...
- The 12.4 percent drop released by the General Administration of Customs was an acceleration from May's 7.5 percent.
- Imports also fell 6.8 percent over the same period, reinforcing concerns about softening domestic demand.
Opinion
US is on course for soft landing, may avoid recession
During periods of economic stability, government focus typically gravitates towards infrastructure development. Investments in sectors like construction, transportation, energy, utilities,...
- The Consumer Price Index (CPI) rose just 0.2% in June and was up 3% from a year ago, says Nigel Green, the CEO and Founder of deVere Group
- The Federal Reserve seems to be successfully controlling inflation without pushing the United States into a recession, opines Nigel Green