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
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Geostrategy
UAE, Bahrain, Qatar among top 10 expat destinations in the world
Overall, the Middle East, North Africa and Turkey (MENAT) was the highest-ranking region for the quality of life, with 71...
- Switzerland, New Zealand and Spain top three destinations followed by Australia, Cyprus, Portugal, Ireland, France and Netherland.
- 65 percent of expats feel optimistic about the year ahead and 75 percent were optimistic 'normality' will return.
Analysis
Lebanon elite united against probe seen as survival threat
Lebanon's political parties seem united in rejecting an investigation into Beirut's massive port explosion that they fear could threaten their...
- The investigation looks to shed light on the explosion of a huge stockpile of poorly stored fertilizer on August 4, 2020, in Beirut
- The blast killed more than 210 people, wounded thousands, and ravaged half the capital
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
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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
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
Company News
Maqta Gateway buys TTEK
Business
Latest News
Stc to buy assets in Europe
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...
Business
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
Most Read
Business
Markets down after Chinese data flops, EU oil prices decline
London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall...
- All eyes later will be on the release of minutes from the US Federal Reserve's June policy meeting.
- The minutes will be followed Friday by closely-watched US jobs data, a key guide to the state of the world's top economy.
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