UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi
Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy
Qatar Central Bank head calls for enhanced GCC action to tackle challenges
Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
Economy
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
Economy
Qatar to train cadres from national forces for job market
Qatar's Ministry of Labour has signed a Memorandum of Understanding (MoU) with the Qatar Financial Centre (QFC) Authority to train...
- Ministry of Labor will provide national workforce data of male and female candidates to be employed at companies licensed by the QFC Authority.
- The move is aimed at realizing the objectives of Qatar National Vision 2030.
Economy
US and UAE creating jobs of the future: AmCham Abu Dhabi executive
American companies are creating a framework for future jobs, which is a new area of cooperation between the US and...
- AmCham Abu Dhabi is the American Business Group of Abu Dhabi, a member of the global network of American Chambers of Commerce.
- Liz Beneski, Chief Executive Director of AmCham Abu Dhabi, said the UAE is probably the only country in the world that does business with all 50 states of the US.
Business
Iraq stresses balance in energy market ahead of Dec OPEC meeting
Iraq's oil Minister Ihsan Abdul-Jabbar has said that Iraq has worked on a vision that emphasizes the importance of finding...
- Iraq's National Oil Marketing Company says it does not see necessity of any decision on increasing oil production.
- OPEC + has decided to maintain the monthly increase rate of 400,000 barrels in December.
Economy
Iran cracks down on farmers protesting dried-up river
The riverbed has been the rallying spot for farmers and other people from across Isfahan province protesting the lack of...
- Iran deployed riot police in force on Saturday, November 28, in the city of Isfahan as farmers protested the drying up of a river
- The authorities said at least 67 people were arrested as the cops cracked down on the protesters
Economy
UAE legal system gets major revamp
It also covers copyright, trademarks, commercial register, electronic transactions, trust services, factoring, and residency, in addition to laws related to...
- The draft of new laws and legislative amendments came during the "Year of the 50th" and are intended to keep pace with the developmental achievements of the UAE
- The new legislative changes came after intensive coordination at both the local and federal levels
Geostrategy
Riot police deploy after violent demo in Iran
Riot police were deployed in force Saturday in the Iranian city of Isfahan, a day after violent protests over the...
- Security forces fired tear gas during the clashes with stone-throwers in the protest by around 500 people in the bed of the Zayadneh Rood river that crosses the central city
- Drought is a cause, but they also accuse the authorities of diverting water from the city to supply the neighboring province of Yazd
Economy
Abu Dhabi gives out $2.72bn in housing loans and plots
Abu Dhabi has announced disbursement of housing loans and houses, and residential plots and the exemption of families of deceased...
- The housing package, worth a total of $2.72 billion, benefited 10,032 citizens in the Emirate of Abu Dhabi
- The announcement coincides with the UAE's celebrations of 50th National Day, and reflects the leadership’s commitment to ensuring social stability, enhancing living standards
UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi
Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy
Company News
Alba posts Q1 profit drop
Business
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Bank of Sharjah to boost capital
Business
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
Economy
UN says over 165m people fell into poverty in 3 years of crisis
UNITED NATIONS - The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into...
Geostrategy
China’s trade in goods with Belt and Road countries up 9.8% in H1
Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of...
Economy
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Economy
Dubai Customs and Japan’s consulate discuss expansion of trade ties
Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries...
- The officials noted how collaboration with Dubai was enabling Japan's traders and investors to expand their businesses in Dubai
- The consulate officials conveyed their appreciation for Dubai Customs' role in combating drug smuggling across borders
Economy
Qatar hosts over 2m visitors in first half of 2023
Doha, Qatar - Qatar Tourism said on Thursday that the country received more than two million visitors during the first...
- Saudi Arabia remain the top source market for international visitors this year, contributing to nearly a quarter of all arrivals
- May and June registered the highest figure - 567 thousand - ever recorded for these two months in the last ten years
Economy
Abu Dhabi crown prince reviews progress of government projects in emirate
Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...
- The crown prince stressed the need for investing in early education and how it is integral to building a "future-ready generation"
- In the meeting he noted the importance of achieving a fully integrated and sustainable roadmap, involving all stakeholders