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
Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...
Economy
Economy
Saudi eyes $100bn yearly in foreign investment as part of Vision 2030 plan
The NIS is expected to raise annual FDI flows to $103.47 billion and increase annual domestic investment to $286.33 billion...
- The National Investment Strategy is expected to increase annual domestic investment to 1.7 trillion riyals by 2030
- The strategy will be ‘a key enabler; of the Vision 2030 plan, announced in 2016 to diversify the economy of the world's biggest oil exporter
Infographics
Qatar, Saudi Arabia lead GCC in education spend
Qatar and Saudi Arabia lead the GCC countries when it comes to spending on education.
- Qatar has in absolute terms spent more per capita for education than any GCC nation since 2016
- However, when it comes to absolute totals and the share of the GDP spent on education, Saudi Arabia leads the pack
Economy
Natural experiments bring Nobel Prize to three US economists
Card’s studies of core questions for society and Angrist and W Imbens’ methodological contributions have shown that natural experiments are...
- One half has been awarded to David Card “for his empirical contributions to labor economics,” which is rooted in natural experiments
- The other half is for Joshua D Angrist and Guido W Imbens, “for their methodological contributions to the analysis of causal relationships”
Expo 2020 DUBAI
Now an ad from the lowest place on the Earth
The new ad posted on the Twitter handle of the Israeli Pavilion at Expo 2020 Dubai has been videographed in...
- New ad of Israeli Pavilion at Expo 2020 has been shot in the middle of The Dead Sea
- It is an imitation of the Emirates’ ad from the top of 828-metre-high Burj Khalifa
Economy
Power partially restored in Lebanon after nationwide blackout
Lebanon's electricity grid was back online Sunday after the army supplied fuel to two key power stations that had run...
- Energy Minister Walid Fayad said Sunday that the grid was back up and running
- Lebanon has witnessed rolling power cuts across the country since the end of its 1975-1990 civil war
Business
Business confidence in Dubai reaches third-highest level in 10 years: Survey
Business confidence in Dubai reached its third-highest level in 10 years as companies in the emirate begin to feel the...
- A survey by Dubai Chamber said companies in the emirate begin to feel the positive impact of Expo 2020.
- Global supply chain restrictions were identified as a key challenge for business leaders.
Economy
Iran needs $22bn to maintain gas output
Iran’s Oil Minister Javad Oji has reportedly said the country requires at this investment to maintain the production level of...
- About 50 percent of Iran's gas reserves are in Bushehr province
- This is true for about 10 percent of the country’s oil reserves as well
Economy
Dubai announces projects worth $6.8 billion
They include urban development, health, and transport projects.
- These are said to be part of a portfolio of public-private partnership or PPP projects
- The investments were announced at the First Dubai International PPP Conference
Research
UAE passport strongest in GCC, 16th in global ranking
The United Arab Emirates is followed by Qatar (60), Kuwait (61), Bahrain (69) and Oman (71) on the Henley Passport...
- The United Arab Emirates is followed by Qatar (60), Kuwait (61), Bahrain (69) and Oman (71) on the Henley Passport Index
- The Henley & Partners' list is one of many that rank passports based on their ability to provide access to their citizens
Business
Gulf International Bank closes $625million sustainability-linked syndicated loan
Gulf International Bank (GIB) said on Sunday that it has closed a $625 million sustainability-linked syndicated loan (SLL), making it...
- The deal makes it the first majority Saudi-owned bank to close such a facility.
- The deal was oversubscribed by more than two times with $1 billion commitments from 20 global investors.
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
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
Company News
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Stock markets slip on auto woes, economy fears
Market Report
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
Economy
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
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Business
China to restrict export of semiconductor making materials
BEIJING, CHINA - China said on Monday it would slap export controls on two rare metals essential for the manufacture of...
- Exports of gallium and germanium, of which China is a major producer, will require a license from August 1, said a Chinese guideline
- China accounted for 80 percent of global gallium production, according to a 2020 report by the European Commission
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.