‘Emphasis grows on market protection over free trade’
"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...
Economy
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
Business
Economy
The broken dreams of desperate migrants fleeing Africa for Saudi
Tens of thousands of migrants are stuck in Yemen, unable to pay for a return trip, held hostage by smugglers...
- Tens of thousands of migrants are stuck in Yemen, unable to pay for a return trip, held hostage by smugglers or detained by local authorities
- Movement along the Eastern Route is picking up again after slowing in 2020, when borders closed because of the coronavirus pandemic
Economy
Returned migrants still long for way out of Iraq
Around 400 Iraqi migrants have returned home after spending three weeks in freezing forest of Belarus, deep in debt but...
- The West accuses Belarus of taking migrants to the borders with EU members Poland and Lithuania with promises of easy crossing
- Belarus has denied the claim and criticized the EU for not taking in the migrants
Economy
Qatar, Poland to enhance cooperation: Polish Deputy Foreign Minister
Deputy Foreign Minister Pawel Jablonski of Poland said on Monday that Poland and Qatar can increase their cooperation in many...
- Jablonski said that his current visit to Doha aims to discuss new opportunities to support and advance economic, investment and tourism cooperation
- He also discussed with Qatari officials ways to enhance cooperation with the Qatar-Poland Business Council, the Qatar Financial Center, the Qatar Free Zones Authority
Business
Companies in UAE should invest in technology to stay ahead of digital curve: Microsoft Hololens chief
With the current global circumstances accelerating the need for immersive tools such as augmented reality and virtual reality, businesses across...
- Pace said that collaboration and investment were key to empowering businesses
- She works with a team in San Francisco, US, to address technical challenges to push the barriers and unlock solution
Economy
Iran says hopes for ‘constructive’ visit by IAEA chief
The landmark nuclear deal was torpedoed in 2018 by then US president Donald Trump's unilateral decision to withdraw Washington from...
- "We hope that Rafael Grossi's visit will be as constructive as the previous ones," foreign ministry spokesman Saeed Khatibzadeh told reporters.
- On Friday, the IAEA said Tehran had again increased its stockpile of highly enriched uranium, many times in excess of the limit laid down in the 2015 agreement.
Economy
Dubai International Financial Centre Courts first fully digital court in emirate
The Dubai International Financial Centre (DIFC) Courts said on Monday that all its internal processes and customer-facing services were now...
- The Courts had accelerated the integration of all services into its digital infrastructure following the launch of Dubai Paperless Strategy in 2018.
- In May 2021, the DIFC Courts became Dubai’s first fully paperless entity by acquiring the qualified electronic seal solution Ethaq.
Economy
El Salvador to build ‘Bitcoin City’ at the base of a volcano
The city will be built near the Conchagua volcano to harness geothermal energy to power the city and Bitcoin mining.
- The city will be built near the Conchagua volcano to harness geothermal energy to power the city and Bitcoin mining
- Land and infrastructure will be provided by the government, as well as efforts to attract investors
Economy
Jordanian tourism income up 61.2% in first ten months of 2021
On a monthly level, the tourism revenues during October of 2021 rose by $302 million, reaching $352 million, compared with...
- The data showed that the growth in revenue was mainly driven by a 59.7 percent rise in the number of tourists
- Non-resident Jordanians accounted for 44.6 percent of the total tourism income. followed by Arab countries (excluding Gulf countries) with 27 percent
Economy
Imports imperil Jordanian makers of handcrafted shoes
According to the country's Shoe Manufacturers Association, there used to be over 250 shoe workshops and factories in Jordan, employing...
- According to the country's Shoe Manufacturers Association, there used to be over 250 shoe workshops and factories in Jordan, employing about 5,000 people
- The country has now around 100 workshops and less than 500 workers, according to Naser Theyabat, head of the association
Analysis
Energy prices may come down early next year
Consumption of natural gas rebounded fast — driven by industrial production — boosting demand at a time when supplies were...
- International energy prices will revert to more normal levels early next year when heating demand ebbs and supplies adjust, the IMF has said
- However, it has also warned that “if prices stay high as they have been, this could begin to be a drag on global growth”
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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
‘Emphasis grows on market protection over free trade’
"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...
Economy
Company News
e& profit at US$600mn in Q1
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Pfizer Q1 profit at $5.5bn
Business
Kuwait 2023-24 draft budget estimates $22.2 billion deficit
Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the...
Economy
UAE per capita income rises to 7th rank globally
ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to...
Economy
Most Read
Economy
Middle East firms pay fortune for employee burnout
A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are...
- It is estimated that businesses in the Middle East suffer a loss of $100 billion every year on account of mental health challenges due to lost working hours
- It has also been found that only 15 percent of white-collar workers across the MENA region have access to professional mental health resources
Egypt annual inflation surges to record 36.8 percent in June
The Egyptian pound has lost half its value against the dollar since early last year, shooting prices upward and adding...
- The previous record of 34.2 percent in July 2017 came, as it does now, following a sharp currency devaluation connected to a bailout loan from the International Monetary Fund
- Official data had shown skyrocketing inflation appearing to ease in the past few months, before food and drink prices alone registered a 64.9 percent increase compared to June 2022
Economy
Middle East firms pay fortune for employee burnout
A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are...
- It is estimated that businesses in the Middle East suffer a loss of $100 billion every year on account of mental health challenges due to lost working hours
- It has also been found that only 15 percent of white-collar workers across the MENA region have access to professional mental health resources