Dubai economy would grow 5 percent this year: Al Ghurair
Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...
Economy
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
Economy
Business
DAFZA share of Dubai’s non-oil trade is 11% in H1 2021
In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign...
- In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign trade
- As for commercial partners, China came in first at 30 percent with a trade value of AED23 billion
Expo 2020 DUBAI
Inside Saudi Arabia’s ‘window to the world’
The memorable landmark was conceived as a minimalistic prism that rises from the ground towards the sky, symbolizing Saudi Arabia's...
- The memorable landmark was conceived as a minimalistic prism that rises from the ground towards the sky, symbolizing Saudi Arabia's unlimited ambitions
- Visitors can also explore a giant digital kaleidoscope and an interactive digital floor at the exhibition's highlight in the 'Vision' space
Business
Masdar to build five solar plants with a capacity of 1 GW in Iraq
Abu Dhabi-based renewable energy company Masdar on Thursday announced it will develop five solar photovoltaic (PV) projects in Iraq with...
- The solar photovoltaic projects will be developed in Dhi Qar, Ramadi, Mosul and Amarah areas.
- Iraq, the second-largest OPEC oil producer, is aiming at 20 to 25 percent of renewables in power production.
Analysis
GCC fertilizer use up in pursuit of food goals
The region is also fast adopting modern agricultural practices such as vertical farming, hydroponics, greenhouse vegetable production to grow more...
- Urea demand is projected to grow close to two percent per year from 2018 to 2025.
- Governments are turning to the private sector to help finance desalination projects to meet water needs.
Economy
IMF board meets with Georgieva amid data manipulation probe
The investigation by law firm WilmerHale released last month found that during Georgieva’s time as World Bank CEO, she pressured...
- The investigation by law firm WilmerHale released last month found that during Georgieva’s time as World Bank CEO, she pressured staff into changing data to China's benefit
- The World Bank has since scrapped the report that ranked nations based on their investment climate
Business
Saudi to lift ban on Qatar’s beIN Sports: source
Saudi Arabia banned the major broadcaster, which holds the rights to the English Premier League (EPL) and other top competitions,...
- Riyadh was seeking to settle Qatar's $1 billion arbitration claim over pirate broadcasts to Saudi audiences by the BeoutQ network
- Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt cut ties with Doha over allegations it supported extremists and was too close to Iran
Market Report
Rise in oil prices gives strength to Gulf markets
The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to...
- International Monetary Fund expects Oman's economy to recover and grow by 2.5 percent by the end of 2021
- Oman has run a US$ 2.3 bn budget deficit since the start of 2021 due to low oil prices and a drop in oil production
Economy
World Bank official for GCC says Saudi GDP to touch 3.3 percent in 2022
With an improvement in global oil demand, the World Bank has predicted Saudi Arabia’s average gross domestic product to reach...
- Abousleiman bullish on the expansion of the Kingdom’s non-oil sector
- Oil prices are currently at a seven-year high and this week OPEC + reiterated its decision, made in July, to raise production by a modest 400,000 barrels per day in November
Economy
Natural gas market soars to record heights
Europe's reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per...
- Europe's reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per therm in morning deals
- Soaring gas prices -- coupled with oil which has struck multi-year highs -- have fuelled fears over spiking inflation and rocketing domestic energy bills
Expo 2020 DUBAI
Cisco shares vision for a digital future at Expo 2020 Dubai
Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground...
- Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground systems
- Aligned with Expo 2020’s theme of ‘Connecting Minds, Creating the Future’, The Cisco Grove illustrates how smart, intuitive networks can create greater connectivity
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
Dubai economy would grow 5 percent this year: Al Ghurair
Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...
Economy
Company News
Ericsson Q1 net profit at $155m
Business
Latest News
Botswana inks new deal with De Beers
GABORONE, BOTSWANA - Botswana has reached an eleventh-hour deal with diamond giant De Beers after months of tense negotiations that saw...
Business
Confront inconvenient truths to fight global inflation
"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and...
Economy
Violence and looting rage in France after police shot teenager
Nanterre, France--Sporadic violence and looting hit several cities across France in a fourth night of protests after the fatal police shooting...
Geostrategy
Most Read
Economy
France charges Lebanon central bank chief’s ex-assistant in graft probe
A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France....
- Marianne Hoayek was grilled in Paris on Friday and placed under investigation for criminal conspiracy and money laundering
- Salameh has denied any wrongdoing and says he built his fortune when he worked in Merrill Lynch before becoming central bank governor
Economy
MENA region trails in global race for gender parity
The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region...
- The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region will achieve full parity in 152 years, says a WEF report
- Solutions like Gender Parity Accelerators and DEI Lighthouse Program are being implemented, but the path to gender parity remains a challenging one, it adds
Geostrategy
France, UAE share vision to shift towards clean energy
PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision...
- The UAE and his country are working together on low-carbon energy solutions, the French minister said.
- The minister highlighted the rising number of natural disasters globally caused by climate change.