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
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
Geostrategy
UAE says 100% of population received one Covid jab
The entire population of the UAE has received at least one dose of a vaccine against Covid-19. The country has...
- According to the UAE health ministry, a total of 21,802,032 doses of vaccine have been administered
- One hundred percent (of the population) have received one dose, while 90.18 percent are fully vaccinated
Economy
Iran, Turkmenistan, Kazakhstan sign MoU on railway cooperation
The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states.
- The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states
- The MoU stipulates that a joint working group be formed to oversee the growth of cargo passing through the transit route
Economy
Iran-ECO trade grows over 48% in 7 months year on year
The volume of trade with the ECO countries - Turkey, Afghanistan, the Republic of Azerbaijan, Kyrgyzstan, Kazakhstan, Pakistan, Tajikistan, Turkmenistan,...
- Major Iranian export destinations were Turkey ($3.397 billion), Afghanistan ($1.125 billion), Pakistan ($655.154 million), and Azerbaijan ($272.958 million)
- Iran’s export to ECO members increased by 58 percent and 60 percent compared to the figures for the previous year in terms of weight and value, respectively
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
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
Company News
Bank of Sharjah to boost capital
Business
Latest News
UAE and Mozambique sign MoU to improve ‘work cycle’ for workers
Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the...
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...
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...
Economy
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Economy
UAE, French ministers review ties, economic cooperation
Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing...
- Two sides discussed investment exchanges in innovative startups, circular economy, tourism, technology, family businesses, renewable energy and agriculture
- The prospects of accelerating the existing partnership and economic cooperation between the two countries also featured high during the meeting
Geostrategy
Egypt, Ethiopia to finalize deal on Nile dam in four months
The two countries resolved to finalize a deal over Ethiopia's big dam on the Blue Nile in four months, a...
- The two leaders, according to a joint statement, "discussed ways of overcoming the current stalemate in negotiations"
- Egypt sees the dam as an existential threat as it depends on the Nile for 97 percent of its water requirements
Business
OPEC anticipates 2.2% growth in oil demand in 2024
Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in...
- In its Monthly Oil Market Report, the OPEC said the World GDP growth in 2024 is forecast at 2.5 percent, slightly below this year’s expected growth level of 2.6 percent
- The world economic growth in 2023 is to remain broadly unchanged at 2.6 percent, with the initial forecast for 2024 economic growth expected at 2.5 percent