Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Economy
Which Asia-Pacific countries are re-opening to foreign visitors?
Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan.
- Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan
- India re-opened for foreign tourists on charter flights this month and will allow in visitors on all flights from mid-November
Business
Careem faces flak over random price hike
People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few...
- An increasing number of people in the UAE are complaining about Uber and Careem's high charges
- The fares, it is claimed, have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists
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
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Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
Company News
FAB posts Q1 net profit of $1bn
Business
Latest News
Barclays Q1 net profit at $2.2bn
Business
Asian markets decline as US data spark interest rate fears
Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest...
Market Report
Kuwait has third largest millionaire population in world
Dubai, UAE -- Kuwait ranked third and Qatar 22nd on the list -- prepared by the World of Statistics --...
Geostrategy
Oil and gas firms must invest more in clean energy
“The phase down of fossil fuels is in-evitable. It is in fact essential. But it cannot be irresponsible. We must...
Economy
Most Read
Economy
UAE commits $15m to rebuild Palestinian city of Jenin after Israeli attack
Dubai, UAE - The United Arab Emirates (UAE) pledged on Thursday $15 million to support the rebuilding efforts in the...
- The funds will be channeled through the UNRWA to aid the organization's operations and extend assistance to affected Palestinian families
- The UAE's decision to provide aid to Jenin could be seen as an effort to strengthen its relations with the Palestinian Authority
Economy
Rise in unemployment affects Saudi women the most
The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by...
- The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by a notable increase among women to 15.7%, according to an official report
- In Q1, Saudi Arabia witnessed a 0.5% drop in youth unemployment, while joblessness among those aged 25-54 rose to 7.8%, adds the report of Saudi General Authority for Statistics
Economy
Lebanon central bank officials to quit if no governor nominated
BEIRUT, LEBANON - The vice-governors of Lebanon's central bank plan to resign unless politicians swiftly name an incoming governor, two senior...
- The term of embattled three-decade chief Riad Salameh ends this month with no successor in sight, setting the stage for a leadership crisis.
- "Unless the political class names a successor, the vice-governors will resign before (Salameh's) mandate ends" on July 31, an official said.