Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
Business
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
Economy
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
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.
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
Business
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Stock markets slip on auto woes, economy fears
Market Report
Central Bank of Bahrain Sukuk Al-Ijara oversubscribed
Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that the monthly issue of the short-term Islamic leasing...
Economy
Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...
Economy
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
Investigation
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Business
Saudi Catering, RSG ink pacts
The contracts are valid for 20 years, said Saudi Catering.
- The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
- The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.
Economy
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...
- In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
- According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis
Business
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...
- The Electricity and Water Authority said that international companies will need to submit their bids as per the latest international standards
- The upgrade of the Ras Abu Jarjour plant by reverse osmosis from underground wells is expected to extend the life span of the plant by 20 years