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
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
Economy
Economy
Iran to cut oil output, prioritize defense in new budget
The 2022-2023 budget allocates about $5 billion to boost "defense capacities and strategic research", up from $4 billion the previous...
- Iranian news agencies reported that the draft, presented Sunday, projects GDP growth of eight percent.
- President Ebrahim Raisi submitted the draft to parliament for a vote expected by the end of 2021.
Videos
Reasons behind shortening UAE’s workweek
This week's TRENDS Explainer video tries to find the rationale behind curtailing the number of days in the UAE's workweek...
- The Gulf country is transitioning to a 4.5-day workweek. Now, weekends will consist of Friday afternoon, Saturday and Sunday
- The move makes the UAE the first nation to formalize a workweek shorter than five days. It also brings the country more in line with Western schedules
Economy
UAE makes color-coded nutritional labeling of food products voluntary
The UAE has made nutritional labeling of pre-packed products as traffic light colors voluntary, after amending a requirement that would...
- From Jan, manufacturers were required to provide a color-coded system of nutritional data in all pre-packed food products.
- An official says AED1.4 billion across the sector by removing the need to modify the labels currently in use or in storage.
Economy
Ruler establishes Dubai Council to deliver Emirate’s future vision
The council will focus especially on boosting the emirate’s leading-edge competitiveness and leadership regionally and internationally.
- The council is expected to formulate and develop Dubai’s future development agenda to support its global competitiveness
- It will apparently also enhance the emirate’s attractiveness by launching major qualitative projects and transformational initiatives
Economy
Dubai reduces carbon emissions by 33 percent in 2020
Dubai reduced its carbon emissions by 33 percent in 2020, which is more than double the target of the Dubai...
- The reduction in emissions is more than double the target of the Dubai Carbon Abatement Strategy 2021.
- The share of clean and renewable energy capacity is now 11.38 percent of Dubai’s energy mix.
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
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
Company News
Latest News
Carrefour now opens in Israel
Business
Fertiglobe Q1 net profit $135m
Business
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
Business
Global debt dominates as G20 finance chiefs meet in India
Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of "the...
Economy
Standard Chartered sells Africa business
It sold the sub-Saharan Africa business to Access Bank.
Business
Most Read
Geostrategy
War-scarred Sudan refugees face soaring rent prices in Cairo
As Egypt said more than 250,000 people crossed in from Sudan -- fleeing ceaseless air strikes, street battles, rampant looting...
- Purchasing power in the import-dependent economy has been slashed as families struggle to make ends meet
- New arrivals from Sudan face hardships, with realtors reporting a sharp increase in demand in Egypt's Cairo
Economy
GCC, Japan resume Free Trade Agreement negotiations
Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of...
- GCC Secretary-General Jassem Mohamed Albudaiwi met with Prime Minister of Japan Fumio Kishida for talks and later their representatives signed a joint statement
- GCC secretary general said Japan's exports from the GCC countries touched $76.7 billion and its imports to the GCC was valued at $22 billion
Economy
Jordan, World Bank sign US$250m agreement to boost water efficiency
Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in...
- Nearly $200 million of the amount will be a soft loan from the International Bank for Reconstruction and Development, and $50 million will be in the form of a grant
- The Jordanian minister praised the World Bank for its partnership with the kingdom's government and support for reform and development needs in the country