Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
Economy
Lebanon’s car culture comes into question amid fuel crisis
In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest...
- There are more than 2 million cars for 6 million people in Lebanon
- However, people are now turning to buses and tuk-tuks to get around as fuel is expensive and often unavailable
Interview
400% rise in Saudi agri investment in four years
The kingdom’s goal is to support small farmers, develop rural agriculture and assist the local development of the food product...
- The kingdom’s goal is to support small farmers, develop rural agriculture, and assist the local development of the food product manufacturing sector
- The lack of natural water and an unsuitable climate are the two most pressing issues facing the Kingdom's environment and agriculture
Economy
Deficit to surplus: GCC economies on growth track
The combined current account balance of oil exporters in the GCC region is likely to shift from a deficit of...
- UAE economy is expected to grow by 2.2 percent in 2021 and by 4.9 percent in 2022, supported by tourism, oil prices recovery and Expo 2020 activities.
- Saudi Arabia's real GDP growth fell 4.1 in 2020 and is expected to increase to 1.9 percent this year and 4.8 percent in 2022.
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
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
Company News
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Global food prices fall to lowest level in two years in June
Dubai, UAE -- The World Price Index of the Food and Agriculture Organization of the United Nations (FAO) fell last...
Economy
Iraq, GECF discuss role of oil, gas in country’s development
BAGHDAD, IRAQ -Â Secretary General of the Gas Exporting Countries Forum (GECF) Mohammed Hamel on Friday stressed the importance of...
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...
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Economy
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...
- Dr. Sultan Al Jaber, the COP28 President-Designate, highlights the need for comprehensive decarbonization and an urgent shift towards a new clean energy system
- The COP28 President-Designate also insists on responsible management of the fossil fuel phase-down, emphasizing energy security, accessibility, and affordability
Iran summons UK envoy to protest new sanctions: state media
The new British sanctions regime will expand existing penalties imposed by creating new criteria under which individuals and entities can...
- Foreign Secretary James Cleverly said sanctions against Iran over alleged human rights violations and hostile actions against its opponents on UK soil will expand
- Iran's foreign ministry considered the statements and positions of the British authorities as well as the recent sanctions... as an illegal and interventionist action
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