WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Business
Cash-strapped Lebanon names team for International Monetary Fund talks
The team -- Deputy Prime Minister Saade Chami, Finance Minister Youssef Khalil, Economy Minister Amin Salam and central bank governor...
- The country is facing what the World Bank has described as one of the world's worst economic crises since the 1850s.
- After defaulting on its debt in March 2020 for the first time in history, Lebanon started talks with the IMF.
Economy
Kuwait to push for more private sector jobs in order to reduce state wage bill
Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The...
- The move comes as the Middle Eastern country seeks to reduce its public sector wage bill, which accounts for approximately 60 percent of the government’s budget
- A study will also be conducted to identify high-priority jobs to attract national labor early next year
Geostrategy
Tunisia’s new PM faces economy battered by political turmoil
Heavily in debt, with spiraling inflation and widespread unemployment worsened by the coronavirus pandemic, Tunisia is hoping for a bailout...
- Bouden will be Tunisia's tenth prime minister since the 2011 revolution that overthrew longtime dictator Zine El Abidine Ben Ali.
- But with debt standing at over 80 percent of GDP, Tunisia has dipped into international funds to service its debts.
Business
Ajman Chamber reduces membership registration fee by 50 percent
DUBAI: A 50 percent reduction in the membership registration fees in the Ajman Chamber of Commerce and Industry for new...
- The offer is valid only if the registration request is submitted between Oct 1 and March 31.
- The decision comes into force from October 1.
Economy
Saudi Arabia expects 2.7 percent budget deficit this year, 1.6 percent in 2022
Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further...
- The kingdom forecasts total spending of 955 billion riyals - around $255 billion - next year, down from an estimated total expenditure of around 1 trillion riyals this year
- The gross domestic product is expected to reduce further next year, to 1.6% of GDP
Economy
Algeria-Morocco standoff threatens Spain gas supplies
Algeria has been using the Gaz-Maghreb-Europe (GME) pipeline since 1996 to deliver several billion cubic metres per year to Spain...
- Algeria has been using the Gaz-Maghreb-Europe (GME) pipeline since 1996 to deliver several billion cubic metres per year to Spain and Portugal
- The latest crisis followed months of tensions, partly over Morocco's normalisation of ties with Israel
Economy
Saudi employers prefer men over women in Q2 as unemployment rate dips
Saudi males found securing jobs was easier than women in the kingdom in the second quarter of 2021, lowering unemployment...
- According to estimates of the General Authority for Statistics (GASTAT) based on the Labor Force Survey, the unemployment rate of the total working age Saudi population decreased
- Unemployment rate among Saudi men went down noticeably by 1.1 percentage point to 6.1 percent in the second quarter of 2021 from 7.2 percent in the previous quarter
Economy
2021 a year of recovery in oil market: OPEC Sec Gen
Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process...
- Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process in the global oil market
- The Secretary General also stressed the need to remain cautious and attentive to an ever-evolving market situation
Economy
Infrastructure push spurs job growth in GCC
The UAE and Qatar are hosting global events like EXPO 2020 this October and FIFA World Cup in 2022 respectively...
- In recent months, all GCC countries have unveiled major infrastructure projects following vaccination of the majority of the population and a rebound in oil prices
- The UAE and Qatar are hosting global events like EXPO 2020 this October and FIFA World Cup in 2022 respectively and initiating infrastructure projects worth billions of dollars
Economy
Morocco, Algeria slam France’s decision to slash visas
France on Tuesday said it would sharply reduce the number of visas granted to people from Algeria, Morocco and Tunisia,...
- In Morocco, Foreign Minister Nasser Bourita told reporters the French decision was “unjustified”
- Many of its Tunisian citizens displayed their concern Wednesday in front of the offices of TLS Contact, the private company authorised to receive applications for France
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
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Company News
Stocks mixed, dollar firms on rate-hike fears
Market Report
Latest News
Jordan medical, pharmaceutical exports see 30% growth in first 5 months of 2023
AMMAN, JORDAN - The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
Business
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
Most Read
Economy
Jordan’s exports to non-Arab Asian countries climb to US$1.16bn in Q1
Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the...
- The kingdom's exports to the Greater Arab Free Trade Area increased by 1 percent in Q1 of 2023 to touch $1.14 bn as against $1.13bn in the same period of the last year
- Its exports to the American Free Trade Agreement countries rose by 2.6 per cent in Q1, touching nearly $898 million, compared to $876 million for the same period last year
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