SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...
Research
Assets under GCC SWFs grow 10% to US$2.77trn
The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices...
- The combined assets under managements of the GCC sovereign wealth funds rises to US$2.77 trillion
- The UAE has five sovereign wealth funds with a combined total asset of US$1.2 trillion
Infographics
Iraqis saddest people in Arab region: Report
Political, economic and social crises in the Middle East countries has led to an implosion of negative emotions among their...
- Lebanon, Egypt and Tunisia follow Iraq, according to Gallup World Poll.
- Research has revealed that emotions usually drive bad investment decisions.
Economy
Saudi Arabia eyes investment opportunities from Germany
The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).
- Germany is a key trade and investment partner for Saudi Arabia
- It was the fourth-largest source of imports to the kingdom in 2020
Dubai Chamber members’ exports, re-exports reach $40 bn
Surge in trade activity in Dubai has lifted the value of exports, re-exports.
- 58,154 certificates of origin issued by Dubai Chamber in August 2021.
- Outside of the GCC, Egypt was the largest export market as member exports to the country.
Economy
Mikati seeks global support to revive Lebanon
The country no longer has the money needed to support its economy, says the new Prime Minister Najib Mikati said...
- Lebanon is going through a major economic and political crisis
- The World Bank has termed it as one of the deepest recessions recorded in modern times
Tehran to issue 20 million more Justice Shares
Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization...
- The value of the portfolios of shareholders, which are estimated to be 49 million, has grown nearly ten times.
- The number of state-owned enterprises that were supposed to be privatized under the justice share program is now 49, valued at $21.8 billion.
Economy
Iran’s mega housing project faces infra hurdles
The one-million housing project is part of Iran’s plan to provide a total of six million houses for its underprivileged...
- Iran is trying to implement the one-million housing project to deliver affordable houses to its populace
- However, the lack of infrastructure, such as water, electricity, and gas, could pose a serious challenge to this project
Economy
MarsRise to colonize Mars by becoming the next MoonShot
MarsRise is a deflationary token found on the Binance Smart Chain, which comes with an automatic liquidity pool growth, and...
- MarsRise is a deflationary token found on the Binance Smart Chain, which comes with automatic liquidity pool growth, and therefore the holder rewards through transaction taxation
- It has automated Liquidity and its Strategic Buyback is distributed to the locked liquidity on every transaction, making MarsRise one of the best in this game
Economy
Saudi, UAE lead MENA region in 5G deployment
The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to...
- The total number of Saudi Governorates covered by 5G coverage increased to 53 in Q1 2021
- The UAE ranks third internationally among countries with the fastest data download speeds in 5G networks, according to an analysis by “Opensignal”
Business
Egypt eyes $1bn investments as Africa Finance Corporation member
Egypt, the most populous nation in North Africa, has already seen some investments from the AFC.
- Founded in 2007, the AFC is dedicated to investing in private sector infrastructure projects across Africa
- It is said to have invested $8.7 billion in projects in 35 African nations since its establishment
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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
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
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Business
Sharjah real estate transactions in May valued at US$653m
SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4...
Business
UAE GDP up 7.9% in 2022 on strong non-oil sector performance
Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking...
Economy
Saudi Arabia hosts the biggest hajj pilgrimage in years
Islam's holiest site is expected to host more than two million worshipers from 160 countries during the annual rites that...
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Economy
Qatar to head ICAO’s Technical Cooperation Committee
Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC)....
- ICAO council member states voted Qatar's permanent representative in the council Essa Abdullah Al Malki as the chairperson of the ICAO's TCC
- The TCC is tasked with assisting and advising the council on reviewing ICAO policies on technical cooperation, assistance, training, and operational plans
Economy
Libya’s east-based government threatens to block oil exports
Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
- Hamad also said that he had "frozen" 2022 oil revenues "equivalent to more than 130 billion dinars" (around $27 billion) as a first step
- He accused the government in Tripoli of squandering energy revenues by making "extravagant spending", without elaborating
Business
Iran’s oil exports surge to 1.9 million barrels per day in May
In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge...
- The Islamic Republic has ramped up its crude output to more than 3 million barrels per day, nearly 3 percent of the world's supply
- Iran has been pouring more oil into the global energy market at a time when OPEC+ has lowered the supply in order to shore up the oil market