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
Qatar Chamber and International Labour Organization look to boost ties
Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor,...
Economy
Business
UAE makes up 88% of GCC investment in Sub-Sahara Africa
Over 3,000 government officials, business leaders and industry experts representing 91 countries took part in the 6th Global Business Forum...
- Fintech, healthcare, agriculture, e-commerce were identified in the report as high-potential sectors
- Around 90 percent of surveyed executives said they expect fintech to see the most growth in 2022
Economy
Tunisia in bailout talks with Saudi Arabia, UAE: Central banker
The birthplace of the Arab Spring uprisings, Tunisia has faced years of economic woes exacerbated by the coronavirus pandemic, with...
- Power grab in July by President Kais Saied put on hold Tunisia's talks with the IMF for a fourth bailout package.
- Years of political deadlock following 2011 revolution have left it with less than one percent growth and six percent inflation.
Geostrategy
Drought-hit Iraq’s crop farmland to be halved
UN agencies have said the impact of water shortages in Iraq is becoming evident through the lower crop yields for...
- The agricultural produce of Iraq usually includes wheat, barley, dates, tomatoes and rice.
- The FAO estimates that "by the end of the season, wheat production will be 70 percent lower and barley production negligible."
Business
Ministry of industry briefs 11 French startups about UAE business scene
As many as 11 French startups in the technology, infrastructure and services were briefed about the UAE's business environment by...
- The French firms, which work in the field of technology, infrastructure and services, are members of La French Fab Booster Middle East program.
- ADNOC, the Ministry of Economy, the Emirates Development Bank, Middle East Venture Partners (MEVP), DP World, Masdar, DEWA participate in the event.
Economy
Bahrain national-origin exports grow to $3.12bn in Q3 2021
Bahrain’s imports grew 16 percent, but its export of national origin ballooned 76 percent in the third quarter of 2021.
- The value of exports of national origin increased by 76 percent to BD1.174 billion ($3.12 billion) during Q3 2021
- It was BD669 million ($1.78 billion) for the same quarter of the previous year
Economy
Asian markets weighed by inflation woes, China growth slows
The losses follow a healthy run-up last week across the world fuelled by a strong start to the earnings season.
- The losses follow a healthy run-up last week across the world fuelled by a strong start to the earnings season
- Adding to the grey mood was data showing growth in China's economy, the world's second-biggest, slowed further in the third quarter
Business
Sabic leads low-carbon plan
Sabic, WEF, and global companies will formalize the plan.
- The agreement will look to formalize the low-carbon emitting technologies or LCET initiative into a standalone entity by 2023
- As a result, LCET members will share early-stage risks and co-invest in developing and upscaling low-emission technologies
Research
Robotics set to alter job markets in Gulf region
There will be ample job opportunities in artificial intelligence, robotics, automation, advanced manufacturing, virtual reality, augmented reality and big data...
- There will be ample job opportunities in artificial intelligence, robotics, automation, advanced manufacturing, virtual reality, augmented reality, and big data
- Administrative and secretarial jobs, data entry, accounting, accounting records management and payroll services will become extinct, says a World Economic Forum report
Economy
ADNOC Drilling included in major global indices
ADNOC Drilling’s has now achieved an integral position as the sole provider of drilling rig hire and rig-related services to...
- ADNOC Drilling was included in key global indices by FTSE less than two weeks after its record ADX listing
- The Company’s Board approved ADNOC Drilling’s ambitious 5-year business growth plan for 2022 to 2026
Economy
Shekel surplus weighs down Palestinian economy
In Israel, as in many advanced economies, digital payments are rapidly growing, taking the place of transactions once done with...
- Palestinians in the West Bank use the Israeli shekel but the two financial systems are dramatically different
- Experts and business people say the buildup of hard currency risks stifling the Palestinian financial system
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
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
Company News
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Reliance posts Q1 profit rise
Business
Bahrain’s EWA invites bids for US$53mn tender to upgrade desalination plant
Manama, Bahrain--The Electricity and Water Authority (EWA) of Bahrain has invited bids for a $53.19 million tender to upgrade the...
Business
Saudi Arabia’s Al-Ettifaq hires former Liverpool star Steven Gerrard as coach
Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after...
Business
UAE cabinet sets up ministry of investment, approves new strategies
The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global...
Economy
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Business
RAKEZ inks MoU with ICFA to foster trade in food, agriculture
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Chamber of Food and Agriculture (ICFA)...
- This alliance seeks to create opportunities for knowledge exchange, trade promotion, investment, and research and development collaboration.
- The agreement is set to facilitate promotional activities for trade, market access, and business matchmaking opportunities between UAE and India.
Geostrategy
Kuwait calls for border talks with Iran over gas field
KUWAIT CITY, KUWAIT - Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready...
- Iran and Kuwait have held unsuccessful talks for many years over their disputed maritime border area, which is rich in natural gas.
- Saudi Arabia is also a part of the dispute since it shares with Kuwait maritime gas and oil resources in the area.
Economy
OPEC+ strives for market balance, sustainable growth
The international oil bloc’s technical team constantly monitors variables in global oil markets and presents its recommendations to the ministerial...
- UAE updates energy strategies and aligns with climate goals, helping it rank second in global Green Future Index, says a UAE minister
- The Gulf country has invested over $50 billion in clean energy projects and pledges an additional $50 billion over the next decade, he adds