Israel minister says Arab trade ties unfazed by Gaza war
In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while...
‘Emphasis grows on market protection over free trade’
"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...
Economy
Business
Tariq Al Samahiji CEO of GFH Group’s UK ops
Al Samahiji is the non-executive chairman and co-founder of Orpheus Partners.
- He served as CEO of BNP Paribas Najmah and Global Head of BNP Paribas Islamic Finance and Investments.
- GFH said it currently has assets of over $12 billion globally and looks to build its international portfolio through organic and inorganic growth.
Economy
DEWA partners with Global Manufacturing and Industrialisation Summit
DEWA has implemented Fourth Industrial Revolution technologies, such as Artificial Intelligence, Cloud Computing and the Internet of Things to drive...
- DEWA and GMIS will collaborate to promote the use of advanced energy-saving innovations
- The collaboration will enable greater synergy between utility providers and industrial enterprises to eliminate energy wastage
Business
OPEC sees oil demand growing over next two decades
The cartel's world oil outlook goes against the vision of the International Energy Agency, which warned in May that demand...
- Developing countries will fuel demand while it will begin to fall in wealthier nations from 2023, said OPEC.
- The OPEC report comes as Brent crude oil prices jumped above $80 per barrel for the first time in almost three years.
Business
Saudi Arabia digitizes 50m realty papers under National Transformation Program
Saudi Arabia has managed to digitize some 50 million real estate documents under the Real Estate Title Digitization Initiative. It...
- The central digitization labs work around the clock and are the largest of their kind in the MENA region
- The digitization process goes through several steps: listing and collection of documents, entry and revision, transfer to digitization labs, sterilization and restoration
Economy
Higher oil prices, widespread vaccine roll-out to drive Saudi economic rebound: S&P
Saudi Arabia’s economy will benefit from higher oil prices and its successful COVID-19 vaccine roll-out, ratings agency S&P Global has...
- Growth is heavily observed in non-oil sectors, particularly in real estate where the government aims to drive national home ownership to 70 percent by 2030
- The semi-annual review from S&P affirmed the A-/Stable/A-2 sovereign rating of the Kingdom, attributing it to a positive post-pandemic performance
Business
Lebanon reforms will get foreign aid flowing: UNSC
The common belief in the international community is that the reason behind Lebanon’s economic crisis is corruption and misgovernance. Thus,...
- The UNSC has said in its statement that these reforms would help the masses suffering from the economic crisis and the resulting shortages
- It added that the reforms would also ‘ensure effective international support’
Geostrategy
Greatest shows on earth: How expos changed the world
International expos, or world fairs, draw millions of visitors to a chosen city every few years. Over two centuries these...
- The first universal exposition took place in Paris in 1798 to show off French industrial know-how.
- The record is held by the Chinese city of Shanghai, which drew 73 million visitors in 2010.
Economy
Brent crude price jumps above $80 a barrel
With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have surged,...
- Brent climbed 0.9 percent in morning Asian trade to $80.24, its highest level since October 2018.
- The advance comes even as the global economic recovery shows signs of slowing owing to supply chain issues
Geostrategy
Revelations at Expos in the Past: Ketchup, Eiffel Tower, telephone
As Expo 2020 opens in Dubai on Friday, hoping to attract millions of visitors with its imaginative pavilions and technological...
- The most famous Expo was perhaps the Paris 1889 edition, where the Eiffel Tower by architect Gustave Eiffel was unveiled.
- Alexander Graham Bell's telephone was first demonstrated to the public at the Philadelphia world fair in 1876.
Economy
Dubai Expo unveils its gleaming pavilions
Dubai's edition, the first in the Middle East, is expected to be the biggest event ever held in the region...
- Dubai's edition, the first in the Middle East, is expected to be the biggest event ever held in the region with estimates of 25 million visitors over its six-month lifespan
- The fair is another feather in the cap for Dubai, which has long strived for recognition with achievements such as the Burj Khalifa, the world's tallest building at at 828 metres
Israel minister says Arab trade ties unfazed by Gaza war
In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while...
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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
UAE economy set to post strong growth in second half of this year
While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic...
Economy
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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.
Economy
Saudi Arabia to compete for 17-title categories at 15th Arab Games
Riyadh, Saudi Arabia--Saudi Arabia will take part in the 15th Arab Games, "Algeria 2023," which is set to commence next...
- The games to be held in Algeria will see the kingdom players taking part in disciplines as diverse as football, fencing, badminton, swimming and many other sports
- Although the male representation will form the biggest component of the Saudi team at 79 percent, there will be nearly 21 percent women in the team too