Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
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”
Economy
UAE commits to lead disruptive growth of key industrial sectors at GMIS2021
GMIS2021 will convene over 45 UAE policymakers and industry leaders, alongside over 250 international speakers, to engage in 70 sessions...
- The summit will convene over 45 UAE policymakers and industry leaders, alongside over 250 international speakers, to engage in 70 sessions from November 22-27.
- The discussions at the summit will explore how data and connectivity are becoming the leading factors
Economy
France wants ‘new economic cooperation’ with UAE: French minister
Le Maire said that that the two countries will launch projects in renewable energy and hydrogen besides fighting climate change.
- Le Maire is on a two-day visit to the UAE to hold several high profile bilateral meetings with UAE officials
- The minister said that that the two countries will launch projects in renewable energy and hydrogen besides fighting climate change
Videos
Economic growth of Arab countries this year
This week’s TRENDS Explainer Video highlights how economic growth looks like in the Arab countries this year as per the...
- Middle Eastern countries responded to the pandemic with swift and stringent measures to mitigate its spread and impact. However, most of them continued to face an uncertain future
- Containing the health crisis, cushioning income losses, and expanding social spending had become immediate priorities. Most of the Arab governments, however, managed it well
Geostrategy
EU, GCC begin new era in relations
However, the recent developments show that Europe has shed this energy-supplier image of the Gulf for a more realistic and...
- Kuwait has emerged as a major global humanitarian player and a significant mediator to sort out inter-Gulf differences
- This has contributed to the re-evaluation by European Union leaders of their policies towards the Gulf region
Economy
Jordan, IMF reach staff-level pact on 3rd review under EFF
The agreement was concluded with an IMF team led by S. Ali Abbas, during a virtual discussion on the third...
- The agreement was concluded with an IMF team led by S. Ali Abbas, during a virtual discussion on the third review of the economic reform programme
- The Jordanian finance minister Al-Ississ stressed that the main issue for the government is to reduce unemployment rates and create job opportunities
Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
Company News
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BMW Q1 net profit at $4.1bn
Business
Sweltering heat leaves Gulf residents at risk during noon
DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a...
Arts & Culture
Tunisia protestors demand jailed opposition figures be freed
Around 100 protesters rallied in Tunisia's capital to demand freedom for detained critics of President Kais Saied who has ruled...
Geostrategy
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
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Business
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...
- This followed a comprehensive assessment conducted by W3 Solutionz - US based on the International Workshop Agreement Guidelines IWA 42:2022.
- The Net Zero Guidelines were commissioned by Our 2050 World, a global collaboration to accelerate action towards net zero through standards.
Economy
SCA and UBF sign MoU to strengthen UAE’s asset management industry
Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation...
- The MoU looks to set up the UAE as a major attraction for asset and wealth management corresponding with the government's aspirations for the next 50 years
- Both the parties, under the terms of the MoU, resolved to cooperate and share expertise and studies aimed at improving the local asset management sector
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