WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...
Interview
Economy
S&P revises Oman’s credit rating to positive on the back of fiscal improvement
S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will...
- Long-term foreign currency credit rating was affirmed at B+
- S&P said it could raise its ratings on Oman over the next 12 months if planned fiscal reforms and stronger economic growth sustainably reduce fiscal imbalances
Economy
Saudi Arabia to have budget surpluses from 2023: Ministry of Finance
Saudi Arabia is confident that it will have budget surpluses from 2023 with the kingdom’s economy showing a “noticeable and...
- Saudi Arabia will post a surplus of about $7.2bln in 2023, rising to $11bln in 2024, the ministry said
- Government revenue will slip to SR903 billion in 2022 from SR930 billion in 2021, but will have reached SR992 billion by 2024
Economy
Kuwaiti women play big role in development: Diplomat
Fahad Hejji, the First Secretary of the Permanent Mission of the State of Kuwait to the United Nations, has said...
- Kuwait has spared no effort to empower women and ensure their rights
- It also ensures their effective participation in all aspects of daily life, and enables them to assume leading state posts
Science
Saudi Arabia announces vaccine mandate for public
Saudi authorities will require people to have double immunization starting at 6 am on October 10 if they are to...
- Saudi residents will need double immunization to enter any economic, commercial, cultural, recreational, sports, or tourism activity
- They will also require it to enter any cultural, scientific, social, or recreational event
Economy
UN agency for Palestinian refugees needs $800m
UNRWA Commissioner-General Philippe Lazzarini told reporters at the UN headquarters in New York that the organization needed "predictability" for its...
- UNRWA Commissioner-General Philippe Lazzarini told reporters at the UN headquarters in New York that the organization needed "predictability" for its operations
- The funding would allow the agency to keep open the 700 or so schools it managed, catering to 550,000 children
Market Report
OPEC’s crude oil reserves up 0.3% to 1,237 bn barrels in 2020
World’s proven crude oil reserves stood at 1,549 billion barrels in 2020, increasing by 0.2 percent from the level of...
- World’s proven natural gas reserves fell by 0.4 percent to 206.7 trillion standard cu m in 2020
- OPEC natural gas reserves stood at 73.74 tr standard cu m in 2020, down 1.4 percent from 2019
Arts & Culture
E-Sports a billion-dollar industry in GCC
The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western...
- The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western Europe 4.8%, and North America 4%
- The value of gaming in the MENA is estimated to be US$4.5 billion with over 100 million gamers in the region
Expo 2020 DUBAI
Dubai Expo ‘new city’ is here to stay for decades
Dubai has created a "new city" for Expo 2020 that will exist for decades, the head of the event said,...
- The $7bn purpose-built showground occupies a vast site on Dubai's outskirts with hundreds of pavilions
- Expo 2020, which has sustainability as one of its main themes, wraps up in March
Geostrategy
Jordan, Lebanon discuss cooperation
Jordanian Prime Minister Bishr Khasawneh met his Lebanese counterpart Najib Mikati to discuss cooperation and help Lebanon.
- Jordanian Prime Minister Bishr Khasawneh underlined his country’s support for Lebanon to overcome ongoing challenges
- He also pointed to the relations that bind the two countries and peoples, highlighting Jordan's commitment to enhancing joint cooperation
Business
Saudi Arabia to strengthen trade ties with Austria
The Saudi delegation of the trade system was headed by Minister of Commerce Majid Al-Qasabi.
- During the meeting, the countries discussed opportunities to enhance and develop commercial relations
- They also talked of ways to upgrade the level of trade exchange and cooperation between the two countries
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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
WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...
Interview
Company News
Merck to buy Prometheus
Business
Latest News
Over 1,500 new companies join RAKEZ in Q2, 2023
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the addition of over 1,500 new companies...
Business
IMF and Pakistan reach $3 billion stand-by deal
Pakistan's negotiations with the IMF for the last tranche of a $6.5 billion bailout package agreed in 2019 stalled in...
Economy
Lack of Lebanon reforms threatens stability, says IMF
The International Monetary Fund warned in a report that Lebanon's failure to implement reforms could have "irreversible" consequences for the...
Geostrategy
Most Read
Business
US Federal Reserve calls for better supervision of banks
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...
- Federal Reserve called for greater banking oversight while admitting its own supervisors had failed to take forceful enough action.
- When SVB failed, it was clear that a number of standard assumptions from a regulatory standpoint "were wrong," the Fed chairman said.
EU presses Tunisia in bid to stem Med migrant flow
In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to...
- The discussion will come two weeks after a boat believed to have been carrying hundreds of migrants capsized off Greece in one of the worst such tragedies in years
- Amnesty International and other rights groups say the tragedy resulted from Brussels' "Fortress Europe" policy implemented over the past seven years
Business
ADB partners committed US$11.4bn to cofinance Asia-Pacific projects in 2022
MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience...
- The report reveals that ADB and its partners enabled the countries to face current and emerging shocks.
- ABD and its partners financed projects that helped developing members strengthen trade and small businesses.