Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Analysis
2022 World Cup may help Qatar sustain growth
The projects initiated as part of hosting the tournament include the construction of eight stadiums, Doha Metro Rail, a new...
- Stadiums constructed for the world cup would be later given to local clubs for utilization
- QTA announced new tourism strategy which aims to attract 5.6 million visitors to Qatar annually by 2023
Economy
UAE allots $17.6bn to housing project for Emiratis in Dubai
Dubai ruler and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, has given approval for...
- Land plots allocated to Emirati housing projects in Dubai increased to 1.7 billion square fee
- Sheikh Mohammed issued directives to quadruple the number of Emiratis benefiting from the housing program from next year
Economy
UN starts program to give electricity, water to Lebanon
Helped by the UN, Lebanon will get fuel to keep its healthcare and water-supply facilities for the next three months.
- The plan It is expected to provide fuel to all public hospitals, primary healthcare centers, and dispensaries servicing the most vulnerable communities
- It is also expected to provide fuel to four water establishments to secure continuous water supply to about 2.3 million people across the country
Economy
Lebanon may see complete blackout by month-end
Electricite du Liban, or EDL, is now capable of generating less than 500 megawatts from the fuel it secured through...
- Lebanon has seen worsening shortages of fuel over the past few months
- Power cuts across the country can currently last up to 23 hours a day
Economy
Goldman Sachs says Lebanon’s banking system to suffer $65bn losses
Goldman Sachs, the US investment bank, has estimated that the restructuring of Lebanon’s financial system would leave the crisis-prone banks...
- The investment bank presented a set of macro projections based on the successful implementation of reforms under the auspices of the IMF
- The report believed that the bulk of these losses may fall on the shoulders of the depositors
Business
UAE, US strengthening business cooperation
Both countries signed an MoU to strengthen cooperation in areas of digital economy, innovation, and entrepreneurship.
- Minister of Economy Abdullah bin Touq Al Marri and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi
- They met US Secretary of Commerce Gina M Raimondo, in the presence of officials from both countries
Economy
DIC board discusses plans to boost foreign trade
Member companies of Dubai International Chamber will work towards achieving the target of boosting Dubai’s foreign trade to $544bln within...
- Member companies of Dubai International Chamber will work towards achieving the target of boosting Dubai’s foreign trade to $544bln within the next five years
- Dubai International Chamber was established to strengthen partnerships with global corporations, investors and entrepreneurs
Economy
Turkey central bank cuts key rate after Erdogan pleas
The Turkish currency was down around 1.1 percent against the US dollar by 1330 GMT, after the bank announced it...
- The move comes despite high inflation, which reached 19.25 percent in August
- The Bloomberg consensus had been for the rate to be kept stable although one economist predicted a cut of 0.5%
Science
GCC nations eye Hyperloop travel by 2030
It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Gulf Arab...
- It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Arab Gulf states using clean and renewable energy
- The Dubai government owned DP World has granted permit to Virgin Hyperloop to develop the technology in the emirate
Economy
UAE Central Bank to do away with Covid stimulus measures
The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced...
- To leave lower reserve requirements for banks unchanged
- The liquidity in the banking system and banks’ capital buffers remained adequate
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Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Company News
Latest News
Saudi Arabia’s imports from GCC states drop 15% to $1.49bn in Apr
Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion...
Economy
Central Bank of Bahrain treasury bills oversubscribed by 109%
Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
Economy
Most markets rise but traders fret interest rate hikes, Russia situation
The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country...
Economy
Most Read
Geostrategy
International Security Alliance seizes drugs worth US$750mn in global operation
Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
- Led by the ISA and Ameripol, the operation saw the participation of 22 countries across the Middle East, Africa, Asia, Europe and Latin America
- Founded in 2017 by the UAE and France, the ISA coordinated the operation from its secretariat in the UAE with the aim of fighting organized crime
Economy
Qatar Chamber signs MoU with Argentina Chamber to boost economic ties
Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry...
- The agreement between the two will attempt to enhance and diversify trade exchanges and economic cooperation between the two countries
- Qatar Chamber also reviewed ties with Uganda Chamber of Commerce to design the path for increased coopeation between the two entities
Economy
Qatar and Iran agree to deepen ties in labor sector
Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities,...
- The two sides discussed bilateral cooperation in labor affairs, including the adoption of occupational standards and labor inspection in establishments
- Qatar, according to its labor minister, has emerged as a leader in labor market reforms after a series of legislative changes to the country's labor laws