UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...
Geostrategy
Economy
IMF examines Lebanon’s financial losses before aid program
Disagreements over the size of the losses between Lebanon's government, central bank, and banking sector contributed to the collapse last...
- The scope of the financial-sector losses of Lebanon are estimated at about $69 billion
- An IMF team will travel to Beirut early next year to continue discussions for aid to the country
Interview
Jordan eyes investments with ICT growth
Investment opportunities also exist in IT solutions for Jordan's financial sector and enterprise solutions and emerging applications. In addition, Jordan...
- Jordan's ICT sector generates 75 percent of the region’s Arabic internet content
- Jordan offers a competitive proposition for investment in content applications and e-learning with fairly priced broadband internet tariffs
Geostrategy
Strategies to enhance Dubai’s security ecosystem reviewed
Digital Dubai is developing the latest strategies and initiatives to enhance the efficiency of the emirate’s integrated security ecosystem.
- Digital Dubai is developing the latest strategies and initiatives to enhance the efficiency of the emirate’s integrated security ecosystem
- Hamad Al Mansoori, Director General of Digital Dubai, said they are working to make the most of big data and tap its potential
Geostrategy
OPEC Fund announces $352m for global development operations
The OPEC Fund for International Development has approved $352 million for sustainable development operations globally at the organization’s 178th Session...
- Members of the Governing Board also reviewed several milestones achieved as part of the OPEC Fund Strategic Framework 2030, including inaugural credit ratings.
- The Strategic Framework 2030 is designed to diversify the OPEC Fund’s financial resources and deliver greater development impact
Economy
Lira plunges as Turkey cuts interest rate again
The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip...
- The reduction of the main rate to 14 from 15 percent comes in the face of an annual inflation rate that has surged past 20 percent and is expected to climb even higher.
- A dollar could buy three liras in 2016 and 7.43 liras on January 1. It was worth 15.50 liras on Thursday after opening the week at around the 13.80 mark.
Economy
Sheikh Mohammed launches largest tourism campaign ‘World’s Coolest Winter’
UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched the second season of the World’s Coolest...
- The campaign highlights the diversity of the UAE’s tourism and recreational attractions.
- With an occupancy rate of 64 percent, the UAE outperformed the top 10 tourist destinations in the world.
Economy
Nearly 14,000 Bahraini nationals invested in UAE companies in 2020
A total of 13, 978 Bahraini nationals have invested in UAE public shareholding companies in 2020 and 331 licenses for...
- Trade between the UAE and Bahrain in 2020 was valued at AED20.1 billion and more Bahraini nationals were entering the Emirates real estate market.
- In 2020, the value of real estate deals signed by Bahraini citizens in the UAE reached AED228 million.
Economy
Jordan to engage private sector in enacting investment laws
Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the...
- Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the most developed international laws in this field
- To facilitate transactions, Amro said, the ministry seeks to be the core reference for investment and the sole authority to follow up on investor issues
Economy
Saudi Arabia among five countries bidding for World Expo 2030
King Mohammad bin Salman bin Abdulaziz recently announced that the kingdom would bid for the expo.
- King Mohammad bin Salman bin Abdulaziz recently announced that the kingdom would bid for the expo
- The other four countries competing to hold the event are South Korea; Italy; Ukraine and Russia
Economy
Iraq economy outlook bleak after droughts and war, says study
The United Nations says about one-third of Iraq's population lives in poverty, despite the country's oil wealth. The effects of...
- Experts have warned that record low rainfall is threatening social and economic disaster in Iraq
- The situation in the war-scarred country is said to have been compounded by climate change
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
Company News
Dana Gas posts fall in profit
Business
Latest News
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...
Economy
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...
Business
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...
Economy
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Economy
Saudi Arabia: An emerging tourism hub
The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
- With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
- Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow
Business
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.
- OQGN is the exclusive operator of the natural gas transportation network in Oman.
- This is considered one of the largest syndicates of Sharia-compliant financing in Oman.
Business
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.
- The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
- The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.