Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...
Economy
Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business
Economy
UAE signs deal with France for food security
The signing of the MoU reportedly coincided with the visit of the French President Emmanuel Macron to the UAE.
- Under the terms of the MoU, the two countries are expected to collaborate to facilitate trade in agricultural and food products
- They will also work for the development of sustainable agricultural production with a focus on innovation
Business
Jordanian exporters association seeks to bridge trade imbalance with Turkey
According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10...
- According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10 percent to JD29 million
- Turkish imports to the Kingdom in the same period surged by 25 percent to a total of JD303 million
Economy
Saudi Aramco, French companies sign five agreements
“This partnership is a continuation of Aramco’s long-standing relationship with a number of leading French companies. It represents an opportunity...
- The agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for on-road and off-road hydrogen powered vehicles in Saudi Arabia
- The signing took place during an event in Jeddah, organized by the Ministry of Investment to explore investment opportunities for French companies in the oil kingdom
Economy
Jordan woos Russia for local investment
Russian representatives from three provinces met with commissioner general of the Jordan Pavilion at Expo 2020 Dubai.
- Jordan has invited investment from an industrial and economic delegation from Russia
- The Russian delegation represented three Russian provinces
Economy
Morocco Employers’ Association, IMF discuss economic recovery
The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of...
- The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of 2021
- The kingdom also recorded a 22.1 percent increase in exports between September 2020 and September 2021
Economy
IMF says Omicron could slow global growth
According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.
- The emergence of omicron led to a major crash in the global stock and oil markets in late November
- WHO highlighted the issue of inequitable distribution of vaccines on several occasions
Economy
Iran non-oil export reaches $27b in 7 months
The deputy minister Mehdi Sadeqi Niaraki argued that production growth is one of the main strategies to develop the Islamic...
- The country has allocated five billion dollars to remove obstacles in the way of exporting Iran-made products
- According to statistical reports, 15 out of 25 industrial fields have experienced growth and the home appliances industry has seen an 8 percent growth
Geostrategy
UAE, France sign MoUs, $18bn Rafale deal
The agreements will boost the strategic partnership between the two countries to serve their mutual interests.
- The agreements will boost the strategic partnership between the two countries to serve their mutual interests
- The signing was attended by Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and President of France Emmanuel Macron
Economy
Tunisia’s budget deficit narrows to nearly $1.3 billion at Sept end
Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion...
- The decrease in the budget deficit is due to the increase in budgetary resources by 10.3 percent
- The Ministry of Finance also reported the increase in cash resources by 18 percent to 12.8 billion dinars.
Economy
Capital Economics says Saudi economy will boom in Q4
Saudi Arabia will see a strong economic growth in the fourth quarter of 2021, due to a high oil production...
- According to a report by Capital Economics some 9.76 million barrels per day were produced in October, broadly in line with pre-virus levels of output
- Growth in local deliveries of cement – a proxy for construction activity – picked up in October
Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...
Economy
Company News
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MBRGI joins UAE delegation, takes part in UN forum on sustainable development goals
DUBAI, UAE - Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) joined the UAE delegation to the United Nations High-Level...
Geostrategy
Morocco, Shell sign 12-year natural gas deal: ministry
Morocco has sought to diversify its energy sources particularly since neighbouring Algeria stopped supplying natural gas via the GME in...
Modi’s visit: India, UAE sign pact to trade in local currencies
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday...
Economy
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Business
CBD H1 2023 net profit $133m
Profit is a 41.5 percent jump compared to H1 2022.
- This remarkable growth in net profit is attributed to outstanding revenue contribution across net interest and other operating income.
- The economic outlook for the UAE and business confidence continue to be encouraging, powered by buoyant domestic activity.
Geostrategy
Ukraine grain deal failed to achieve objective, says Putin
Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not...
- A memorandum on unhindered Russian food and fertilizer exports had been signed in parallel to the grain deal.
- "The main goal of the deal, namely the supply of grain to countries in need, including on the African continent, has not been implemented," Putin said.
Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.