Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
Economy
Bahrain to deport a number of illegal expatriate workers
The violators were arrested during a clampdown conducted in the Muharraq governorate by the LMRA Labor Inspection Directorate.
- They are to be deported in compliance with the law, Bahrain’s Labor Market Regulatory Authority or LMRA has said
- It has also said it would step up such inspections in cooperation with competent authorities within the joint efforts with the Ministry of Interior
Economy
UAE fines, imprisons several for financial crimes
A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for...
- In one case, the former employee of a Dubai bank was convicted of embezzling more than AED5.23 million (around $1.42 million)
- The money belonged to real-estate development companies and was deposited with the bank
Economy
Egypt sees Red Sea tourism rush from Russia
Russian tourists are finally returning to the Red Sea resort of Sharm el-Sheikh six years after a terrorist strike.
- Russian tourists are beginning to return to Sharm el-Sheikh six years after a terror attack
- The 2015 attack had seen the downing of a Metrojet plane that killed 224 mostly Russian passengers
Geostrategy
Roundup: Four Gulf states pull diplomats from Beirut
This is bad news for Lebanon, which had been counting on financial assistance from the Gulf to rescue its economy....
- The row has already seen Saudi Arabia ban the imports of Lebanese goods and Kuwait and Bahrain expel Lebanese envoys
- It is a blow to a country already in the grip of crippling political and economic crises
Economy
Jordan to expel unvaccinated expats by December 15
The Ministry of Interior of Jordan has confirmed that strict measures will be taken against expatriates who did not receive...
- Expatriates in Jordan are allowed to obtain the vaccine for free
- They are not required to present a residence permit or a work permit to get the vaccine
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.
Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
Company News
Alkhaleej Insurance posts profit
Business
Latest News
Pro-Iran parties urge Iraq to clear energy dues with Tehran
BAGHDAD, IRAQ - A powerful alliance of pro-Iran factions in Iraq called on Sunday on Baghdad to pressure the United States...
Geostrategy
Dubai to expand EV charging points by 170 percent till 2025
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) aims to grow the city’s network of public charging stations by 170...
Business
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE -Â Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
Business
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Geostrategy
Saudi Arabia should ‘review’ emissions targets: French minister
France's energy transition minister Agnes Pannier-Runacher left the world's biggest oil exporter early Sunday morning after meeting with her Saudi counterpart....
- Saudi Arabia pledged in 2021 to achieve net zero carbon emissions by 2060. Pannier-Runacher's trip came as the UAE prepares to host the COP28 climate summit.
- Largely state-owned energy firm Saudi Aramco, the kingdom's main revenue generator, is targeting "operational net-zero" carbon emissions by 2050.
Economy
UK to unveil new measures to support financial sector
Hunt, whose official title is chancellor of the exchequer, will lay out plans for an "entirely new kind of stock...
- Hunt will set out "how Britain's financial services will support the drive for long-term sustainable growth across the country", the UK Treasury said
- The new measures will in particular seek to make the UK stock market more attractive to firms looking to take their businesses public
Economy
Global trade in commodities to expand by 1.3% annually: FAO-OECD report
Paris, France--Global trade in agricultural commodities is projected to expand by 1.3 percent annually - half the pace recorded in...
- The FAO and OECD report said maize, wheat and soybeans contributed the most to the overall agricultural trade growth in the past decade
- South and Southeast Asia’s net imports, after becoming a net importer of agricultural commodities in recent years, are projected to rise further