Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy
Analysis
Global ripples await MidEast markets on Sunday
Middle East markets were spared the November 26 bloodbath because they were closed on Friday and Saturday.
- Covid-19 has a new variant that spooked global markets, and its spike protein, which most vaccines target, has mutated 50 times
- This could dent the efficacy of most Covid-19 vaccines across the world, and dampen sentiments further
Business
Dubai introduces ‘electronic notary public’ after amending the law
Dubai has introduced an automated system that performs the duties of the notary public without human interference and does away...
- The automated notary public has been introduced as part of Dubai’s smart government transformation.
- Companies providing notary public services are now required to inform Dubai Courts about licensed individual notaries public working in the company.
Economy
Lebanese currency drops to new low, pound trades 25,000 to dollar
The new record, topping a previous low of more than 24,000 earlier this week, adds to the troubles of the...
- The new record, topping a previous low of more than 24,000 earlier this week, adds to the troubles of the newly-formed Lebanese government
- With the currency losing more than 90 percent of its value in two years on the black market, the purchasing power of Lebanese is plummeting
Economy
Dubai ranks first in Arab world in Innovation Index
The report also highlights that 2014 saw the launch of the first Dubai Innovation Index, which was the first-of-its-kind city...
- The report, entitled The Road to Recovery through Resilience and Innovation, examined 39 cities
- Singapore and Hong Kong maintained their first and second places on the Index respectively
Business
AD Ports Group and Turkiye Varlik Fonu sign partnership agreement
AD Ports Group and Turkey’s Turkiye Varlik Fonu signed a strategic partnership agreement to collaborate on major investment opportunities for...
- The partners will collaborate on major investment opportunities for port development and operations.
- The two organizations will also collaborate in establishing a joint steering committee to assess all investment opportunities.
Economy
Qatar approves draft social security and military retirement laws
Qatari cabinet has approved draft social security and military retirement laws aimed at establishing "an effective social protection system for...
- The draft laws call for expanding the scope of insurance coverage to include all citizens working in the public and private sectors.
- The draft laws recommend that the minimum pension shall not be less than QR15,000 ($4,119).
Economy
Doha workshop promotes Qatarization policy in private sector
The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee.
- The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee
- The ministry would ensure Qatari employees’ rights are protected and that they are not subjected to abuse by their employer
Geostrategy
UAE announces $10 billion fund for investments in Turkey
Erdogan greeted Sheikh Mohammed on the ceremonial blue carpet at the presidential palace in Ankara on Wednesday before they went...
- The fund's aim was "to support the Turkish economy and boost bilateral cooperation between the two countries," the official Emirati news agency WAM said
- The main focus of the fund will be on "strategic investments", especially in sectors including energy, health and food, WAM reported
Economy
Syria eyes visitor resurgence, especially from Europe
Syria is an important destination for Shiite pilgrims, and has continued to welcome visitors from Iran, Iraq, and Lebanon during...
- Syria is home to several UNESCO world heritage sites that were very popular with tourists before the war
- Most sites were damaged by more than 10 years of a conflict, but restoration work was undertaken
Economy
Help lower oil prices, IEA urges OPEC
The head of the IEA has called on OPEC and its allies to take measures to help bring oil prices...
- OPEC nations and their allies, including Russia, agreed in July to slowly increase their oil output each month towards pre-pandemic levels
- This comes as the world economy recovers from the Covid-19 pandemic
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Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
Company News
BMW Q1 net profit at $4.1bn
Business
Latest News
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...
Business
GCC, API sign MoU to establish framework for cooperation
Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...
Economy
Most world stock markets advance as US inflation data looms
London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London...
Business
Most Read
Business
OECD says sizeable progress made on sharing tax revenue on multinationals
Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational...
- Multinationals, especially tech firms, are currently able to easily shift profits to countries with low tax rates.
- In 2021, in talks led by the OECD, an agreement was reached on a minimum tax rate of 15 percent on multinationals.
Economy
Pakistan gets $1 billion boost from UAE ahead of key IMF decision
The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to...
- Inflation has rocketed, the rupee has plummeted, and the country is struggling to afford imports, causing a severe decline in industrial output.
- Securing financial support from friendly nations has been a key condition of the IMF for approving a new standby deal for Pakistan worth $3 billion.
Business
Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
- Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
- Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.