Hawkish economic approach on China has bipartisan support in US, say analysts
WASHINGTON, US - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards...
Geostrategy
UAE to provide US$10m grant to support WTO initiatives, says foreign minister
ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE...
Geostrategy
Economy
Iran blames cyber attack as fuel supply hit
Details of the attack and its source are under investigation, state TV added, without giving further details.
- Details of the attack and its source are under investigation, state TV added, without giving further details
- Tuesday's disruption had an unprecedented impact because it blocked the IT system that allows Iranians to fill their tanks for free
Business
Tunisia: Investment in services reach $252m in nine months of 2021
Tunisia has witnessed an investment of 713.4 million dinars ($252 million) in service activities during the first nine months of...
- The investments will be mobilized under 6,464 projects and will create 22,053 new jobs.
- Services directed to the local market (96 percent of overall investment declarations) saw a 3.1 percent increase.
Business
Sharp recovery to see Middle East box office revenue cross $800m in 2021
Box office revenue in the Middle East made the fastest recovery in the world, from $250 million in 2020 to...
- The revenue is expected to continue to rise, reaching $1 billion in 2022 and $1.3 billion in 2024, research has shown.
- Only 261 of the 3,099 screens in the Middle East and Africa were closed due to the pandemic.
Business
UAE economy resilient, overcame many global challenges: RAK Properties CEO
The UAE was among the first countries to return to normalcy after the pandemic and is currently hosting Expo 2020...
- RAK Properties investments reach AED15 billion, engaged in several real estate sectors.
- Expo 2020 will especially have a major impact on tourism and real estate sectors, Al Tair said.
Economy
Lebanon to soon give medicines for chronic, incurable disease for free
The Lebanese central bank has opened a credit line of $60 million for medicine importers.
- Around three-fourth of Lebanon now lives in poverty because the Lebanese pound has lost more than 90 percent of its value since November 2019
- As a result, there have been massive shortages of commodities like fuel, medicine, and even food
Business
DP World reports container volume growth of nearly 12 percent in Q3
The gross volume growth was mainly driven by Asia Pacific, India, Australia, and the MENA region.
- In Q3, DP World handled 19.8 million TEU, up 8.1 percent year-on-year basis.
- The near-term outlook remains positive, but the company expects growth rates to be moderate in the final quarter, said CEO Ahmad Bin Sulayem.
Economy
World Bank warns high energy prices could stoke inflation
World Bank has warned that rising energy prices will stoke inflation in many emerging markets and developing countries.
- The bank has raised its forecast for average oil prices to $74/bbl in 2022 from $70/bbl in 2021 projected previously in April
- Prices of non-energy commodities like metals and wheat are also projected to remain at elevated levels
Interview
Sharjah Sustainable City builds on green concept
The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future...
- The project extends over an area of 7.2 million square feet of land in the Al Rahmaniyah area of Sharjah, supporting the urban development of the Emirate
- The city is designed to cover all three elements of sustainability - social, economic, and environmental
Economy
Israel approves $10bn to improve conditions in Arab sector
The expenditure is expected to improve socio-economic conditions for Israel’s Arab minority, which has long complained of marginalization.
- The plan was approved by Prime Minister Nafatli Bennett's government late on Sunday
- It calls for $9.35 billion to be spent over five years to "close the gap in the Arab sector" compared with conditions in the Jewish community
Business
Ministry of Economy and LinkedIn sign MoU to promote UAE as talent destination
The UAE's Ministry of Economy has signed an agreement with LinkedIn for developing a framework for skills-based talent besides identifying,...
- The agreement is geared towards achieving UAE Strategy for Talent Attraction and Retention.
- LinkedIn will collaborate with the ministry’s team to make joint action plans supporting the ministry’s national strategies.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Hawkish economic approach on China has bipartisan support in US, say analysts
WASHINGTON, US - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards...
Geostrategy
Company News
Novartis Q1 profit at $2.3bn
Business
Latest News
ADB operations cross $20bn
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...
Economy
Total direct, indirect economic impact of re-exports is $13bn: UAE minister
Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the...
Economy
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Business
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008),...
- In West Asia, FDI fell by 14 per cent to $48 billion, despite strong activity in greenfield projects and cross-border Mergers and Acquisitions (M&S).
- Global foreign direct investment (FDI) flows in 2022 declined by 12 percent to $1.3 trillion, after nosediving in 2020 and rebounding in 2021.
Economy
Turkey’s inflation rate slows to 38.2 percent in June
According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by...
- Many economists are warning that inflation will start growing faster because of the spending pledges made by President Erdogan during May's election
- Since Erdogan extended his rule into a third decade in a hard-fought runoff election on May 28, the lira has lost more than 23% of its value against the dollar
Business
SRTIP-SOTI merger to boost UAE’s knowledge economy
"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and...
- Merger of SRTIP and SOTI will form an independent Free Zone Authority, enhancing the UAE's knowledge economy and entrepreneurial status
- The merger will unlock the potential of Sharjah's technology and innovation sector and solidify the UAE as a global business and entrepreneurship destination