WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
Economy
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
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
Economy
IMF: Global inflation nearing peak, stabilizing next year
The full report will be published next Tuesday and updates the estimates the IMF made in July, when it predicted...
- In its latest forecast, the IMF pointed to commodity shortages, supply chain snarls and the resumption of economic activity
- Among emerging and developing economies, the institution predicts inflation will decline to four percent from the 6.8 percent peak it will hit later this year
Economy
Thousands of Gazans apply for Israeli work permits
The total number of permits being granted by Israel to Palestinian labourers in Gaza is 7,000.
- The total number of permits being granted by Israel to Palestinian labourers in Gaza is 7,000.
- The impoverished territory of two million inhabitants with an unemployment rate of about 50% has been blockaded by Israel for nearly 15 years
Economy
Lebanon’s telecom, internet sector could collapse in days
Telecom companies in Lebanon have joined the long list of at-risk industries and institutions because of the financial and economic...
- Touch and Alfa mobile companies and the state-run telecommunications company Ogero operate fixed lines and fixed internet
- The quantity of diesel they have is enough for them to run for only a few days
Economy
Jordan to support industry with national projects
Jordan’s Ministry of Industry, Trade and Supply will be establishing these projects as part of its implementation of the government's...
- The move is expected to boost the competitiveness of Jordanian industry locally and abroad
- The establishment of the national projects is also expected to include the building of a fund to support and develop local industry
Business
Kuwait private sector partner in boosting trade ties: UAE chambers
KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of...
- Federation of UAE Chambers and Kuwait Chamber hold a meeting to discuss ways of promoting investment opportunities.
- Kuwait Chamber chairman expects Kuwait-Abu Dhabi cooperation in healthcare, education and food security.
Geostrategy
In Iraq vote, big blocs lurk behind ‘independents’
A new electoral law in Iraq will mean that when Iraqis go to the polls on Sunday, they will vote...
- The elections will have voters choose individuals running as independents rather than members of political blocs.
- Those disillusioned with the political class fear these individuals will spend no time supporting blocs when elected.
Business
Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in...
- In the GCC, Saudi Arabia and the UAE were the first to introduce a VAT system in January 2018
- Bahrain followed a year later, and Oman brought in the tax in April 2021
Economy
Saudi non-oil private sector grows fastest in seven years in September: IHS
There has been a sharp growth in Saudi Arabia’s non-oil private sector in September, the fastest in seven years, according...
- The relaxation of the regulations boosted customer demand, the latest IHS Markit report said, helping businesses expand their output
- The seasonally adjusted Purchasing Managers’ Index (PMI) surged to 58.6 in September from 54.1 in August
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WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
Economy
Company News
M42 acquires Diaverum
Business
Latest News
United Airlines reports Q1 loss
Business
Lebanon looks to recycling to rid streets of garbage
Beirut, Lebanon--Beirut motorists pull up to a drive-through counter -- not for fast-food, but to exchange empty bottles and cardboard for...
Economy
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Infographics
Saudi tourism on growth path despite hiccups
Saudi Arabia is investing $500 billion in NEOM, a future city in the northwest, expected to be a hotspot for...
- The $500 billion development on the Red Sea coast, which will include luxury resorts, residential developments, and a nature reserve, is one of the key tourism projects.
- The Kingdom is also developing the UNESCO World Heritage Site of AlUla into a major tourist destination.
Iraq’s oil export revenues in June hit $7 billion, says SOMO
Baghdad, Iraq - Iraq's Ministry of Oil has said that the country's crude oil exports reached over 100 million barrels...
Business
Iraq exports crude oil worth over US$7bn in June 2023
BAGHDAD, IRAQ - Total crude oil exports in June reached over 100 million barrels, the Iraqi government said in a...
- The majority of these exports - amounting to almost 99 million barrels - originated from the oil fields in central and southern Iraq.
- The average daily export volume was pegged at over 3.3 million barrels. The average price per barrel for the month was recorded at $71.11.