WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Geostrategy
Climate, economy, vaccines key focus of G20 talks
Leaders of the world's most advanced nations are hoping to hammer out a way forward on climate change and vaccine...
- In their first in-person gathering since the start of the Covid-19 pandemic, the relaunch of the global economy will also be front and center on the two-day agenda
- The stakes are high, with United Nations Secretary General Antonio Guterres warning G20 leaders to show "more ambition and more action"
Economy
Jordan launches weekly lottery to boost vaccination
Six lucky vaccinated people will each receive JD500 (around $705), provided that they had been inoculated in the week before...
- The lottery scheme was launched by the Jordan Radio and Television Corporation and the Association of Banks in Jordan
- The initiative is apparently aimed at incentivizing individuals to take the vaccine to immunize society as a whole
Economy
Political stability spurs Kuwait’s economic recovery
In June, the government passed the budget for 2021-22, which projected spending of US$ 76 billion and a deficit of...
- In June, the government passed the budget for 2021-22, which projected spending of US$ 76 billion and a deficit of US$ 40 billion.
- Falling oil prices due to COVID- 19 pandemic caused a 15.4 percent dent in Kuwait's GDP in the fiscal year 2020-2021
Geostrategy
World leaders discuss climate, economy, vaccines at G20
Summit host Mario Draghi, the Italian prime minister, has called for a ‘G20 commitment on the need to limit the...
- Looming over the two-day talks in Rome is pressure to make headway on tackling global warming
- This is because the key COP26 summit is kicking off in Glasgow on Monday
Business
Saudi index ends week down 0.4%, Qatar up 1.2%
In the UAE, the Abu Dhabi index added 0.2% with the International Holding Company gaining 0.7%. Dubai index ended the...
- Dubai’s main index fell on Wednesday by 0.1%, affected by a 4.2% drop in the stock of logistics company Aramex.
- Aramco's share price rose 0.8 percent to US$ 10.05, its highest close since December 2019.
Geostrategy
Lebanon to get Jordan’s electricity via Syria by 2022
The process of supplying Lebanon with electricity is expected to begin in early 2022.
- The amount of electricity to be supplied Lebanon will be nearly 150 MW from midnight until 6 am
- Jordan will also supply 250 MW to Lebanon during the remaining periods
Science
Qatar plans to reduce 25% greenhouse emissions by 2030
The 25 percent reduction would equal to a dip of 37 Mat CO2 eq by 2030, according to national figures,...
- The reduction said to be part of the National Climate Change Action Plan to reduce emissions in Qatar
- The plan is expected to take Qatar closer to achieving its sustainable development goal by 2030
Economy
Saudi Arabia, Spain agree to build sustainable tourism
Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh...
- Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh this week
- Saudi puts tourism on the global stage for the first time at FII 2021, launching the Principles for Redesigning Tourism
Economy
Strong ties help UAE-China trade surge
According to the Chinese statistics, there are over 4,000 Chinese-funded enterprises in the UAE. In 2020, the bilateral trade reached...
- The UAE is an important part of China's Belt and Road initiative with the Chinese Foreign Minister Wang Yi referring to the gulf country as a "shining pearl."
- The China-UAE Industrial Capacity Cooperation Demonstration Zone is a major cooperation project to translate the vision of the leaders of the two countries into action
Business
Ras Al Khaimah set for healthy post-pandemic growth: S&P Global
The emirate is expected to see a growth of around 2.5 percent between 2021 and 2024.
- S&P Global estimated RAK's economic growth at 3 percent in 2021, with the first half of the year showing a strong rebound from 2020
- Real-estate transactions, mining volumes, cargo trade, and tourist arrivals are expected to be behind this growth
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WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Company News
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Qatar Central Bank’s foreign reserves up 14 percent in June
Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion...
Economy
UN report confirms success of UAE investment endeavors: Al Marri
"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in...
Business
UAE Dirham can be third currency for India-Russia Trade, says Russian economist
New Delhi, India - Russian academic Sergey Luzyanin has suggested that the United Arab Emirates' Dirham could be considered as...
Economy
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Business
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months....
- The Iranian minister made the remarks at the second ministerial session of the 8th OPEC International Seminar in Austria
- He said Iran was producing 3.8mn barrels of crude oil and gas condensates and more than one billion cubic meters of gas a day
Business
OPEC’s energy ministers back crude output cut by Saudi Arabia, Russia, Algeria
Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for...
- Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August
- Saudi Arabia and Algeria are among OPEC's 13 member states, and Russia is one of the organization's 10 allies
Economy
UAE is focused on uniting parties in a COP that delivers for all: Al Jaber
Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing...
- Al Jaber was addressing the conference of the heads of government of the Caribbean Community (CARICOM) in Trinidad and Tobago
- The minister felt that donor countries need to be nudged in order to deliver the US$100 billion pledge that they made over a decade ago