Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
Economy
Unit 4 of UAE’s Barakah Nuclear Energy Plant commissioned
Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah...
Economy
Economy
Tel Aviv ranked world’s priciest city for first time
Tel Aviv climbed the rankings partly due to the strength of the national currency, the shekel, against the dollar, as...
- The Israeli city climbed five rungs to score top place for the first time in the authoritative ranking compiled by the Economist Intelligence Unit (EIU)
- The Worldwide Cost of Living Index is compiled by comparing prices in U.S. dollars for goods and services in 173 cities
Economy
ATRC awards $10 million in research funding to 53 R&D projects
Abu Dhabi’s Advanced Technology Research Council (ATRC) on Tuesday announced that it has awarded AED40 million ($10 million) in research...
- Grant funding is allocated to entities in eight key sectors such as aerospace and energy.
- The awardees were picked from 370 proposals in ASPIRE Award for Research Excellence and ASPIRE Young Investigator Award.
Economy
Bahrain launches investment platform allowing access to strategic projects
The Economic Development Board (EDB), Bahrain's investment promotion agency, on Tuesday announced the launch of the investment platform (invest.bh) that...
- Bahrain's Economic Recovery Plan has seen the announcement of strategic projects worth more than $30 billion.
- Investable projects include Bilaj Al Jazayer Tourist City, Bahrain Metro, USA Trade Zone, Aluminium downstream zone and Sports City.
Business
UAE Cabinet approves laws for housing loans, medicines
The UAE cabinet has also approved policies to boost the creative sector, and even rehabilitate convicts and juvenile delinquents.
- The UAE Cabinet has approved the requirements and conditions to clear housing loans for Emiratis
- It has also approved the UAE National Medicine Policy, which aims to achieve equitable availability and affordability of essential medicines
Economy
US Federal Reserve says Omicron poses risks to economy
Fed chief Jerome Powell has said the new strain could also heighten uncertainty regarding inflation.
- The US central bank’s chief Jerome Powell is growing more concerned about this year's price increases
- The price rise has put pressure on the Federal reserve to raise interest rates more quickly
Economy
OPEC+ meets under pressure from Biden and Omicron
The meeting "is shaping up to be one of the most significant since the pandemic demand recovery began, and the...
- Biden called it a "major initiative", with analysts estimating the injection at between 65 and 80 million barrels, including 50 million from the United States alone.
- The group said earlier this month it planned to boost output by 400,000 barrels per day in December, despite a room for manoeuvre that is 10 times greater
Economy
Saudi Fund for Development to give $3 billion to Pakistan
Saudi Arabia reactivated its support for Pakistan in the last week of October, including about $3 billion in safe deposits...
- Saudi Arabia reactivated its support for Pakistan in the last week of October, including about $3 billion in safe deposits and $1.2 billion in oil supplies on deferred payments
- The SBP statement said the deposit agreement reflected the strong and special relationship between the Kingdom of Saudi Arabia and Pakistan
Economy
UAE seeks to diversify economy beyond oil
With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a...
- With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank
- But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP
Business
UAE and Greek credit insurance organizations to promote businesses
The UAE's federal export credit company Etihad Credit Insurance (ECI) signed an MoU with Greece’s Export Credit Insurance Organization (ECIO)...
- An MoU between Etihad Credit Insurance and Greece’s Export Credit Insurance Organization will also promote SMEs.
- This agreement follows the recent UAE-Greece high-level diplomatic meetings between the ministers of both countries.
Economy
Iraq’s budget for 2022 to focus on investment projects
Iraq’s general budget for 2022 will focus on implementing a set of investment projects in line with diversifying economy and...
- Salih belives the fluctuations in the oil markets and the global economic situation will cast a shadow over the draft general budget for 2022
- The Ministry of Planning said that employee salaries, social protection and other expenses were not affected by the delay in approving the general budget law
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Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
Economy
Company News
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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...
Business
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,...
Opinion
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
Business
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Economy
Bahrain secures 9th spot in survey for best expat destinations in world
Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report...
- Respondents perceived Bahrain to be the country where a visa could be secured easily, and a bank account could be opened without a hassle
- The survey is one of the world's biggest expat polls based on data from more than 12,000 expats from 171 countries, scattered across the world
Economy
Jordan and Japan review economic, strategic relationship
Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two...
- The Jordanian minister noted the "importance" of Japanese investments and their role in transfering advanced technology to the kingdom
- Jordan's exports to Japan, according to the Department of Statistics, amounted to $87 million, while imports from Japan touched $348 million
Business
Saudi-Turkish Business Forum kicks off in Istanbul with signing of 16 agreements
Riyadh, Saudi Arabia - The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements...
- The forum is a collaboration between the Federation of Saudi Chambers of Commerce and the Foreign Economic Relations Board of Turkiye
- The forum was attended by the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail, and the Turkish Minister of Trade, Omer Bolat