Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
Finland, UAE eye collaborations in clean technologies
"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...
Economy
Business
UAE to establish business council with Estonia
The council will aim to enhance bilateral economic and trade relations between the two countries.
- The MoU was signed by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
- Peeter Raudsepp, CEO of Enterprise Estonia, signed the agreement on behalf of his country
Business
Dubai-France trade reaches AED8.5 billion in the first half of 2021
DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according...
- The emirate sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to DP World chairman.
- Top commodities included jewelry, perfumes, medical products, textiles and leather.
Geostrategy
First Iranian fuel deliveries reach Lebanon
Lebanon has been without a government for more than a year, and the main priority of Prime Minister Najib Mikati's...
- The first Iranian ship with fuel reached the Syrian port of Baniyas earlier this week
- The cargo was offloaded there and trucked to Lebanon, the first of several planned deliveries
Economy
Yemenis protest hardship in govt-controlled south
Around 80 percent of its 30 million people depend on international relief and aid groups complain of financing shortfalls.
- Around 80 percent of its 30 million people depend on international relief and aid groups complain of financing shortfalls
- Yemen's economic woes stem from the seven-year conflict between Huthi rebels and government forces
Economy
Wa’ed to fund first Saudi facility to make oil, gas drilling compound
Wa'ed, the entrepreneurship arm of Aramco, has approved a plan to finance construction of a factory in Jubail that...
- The 3.75 million SAR loan to SICCO, a Jubail-based start-up, is part of Wa'ed's strategy of empowering Saudi businesses
- SICCO plans to make calcium bromide, a clear liquid used to regulate wellbore pressure in onshore and offshore oil and gas wells
Economy
Dubai to develop digital economy strategy
The action plan is structured around three pillars: enhancing the digital business environment, supporting the development of digital firms and...
- The plan was devised at a two-day Dubai Digital Economy Retreat which concluded on Wednesday
- Interactive workshops during the event identified key market issues and challenges, including the need to attract more digital companies and specialised talent to Dubai
Economy
Global economy to grow by 5.3 percent in 2021: UN
But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...
- Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.
- By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.
Business
Most EMEA banks fret they would cease to exist unless they digitize fast
Nearly 75 percent of banks expect tech giants such as Google and Amazon to dominate the banking industry in five...
- The report said only 25 per cent of EMEA-based banks expect to significantly increase spending on Big Data in the next three years.
- 19 per cent of EMEA-based banks are focused on blockchain investment compared with 30 per cent of banks in North America.
Economy
New technology rejigs Gulf maritime sector
Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was...
- The GCC countries have been making investments in integrating supply value chains with digital platforms and upgrading their technologies to keep pace with the latest developments
- Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally
Economy
UN urges Egypt, Sudan, Ethiopia to resume dam talks
The Grand Ethiopian Renaissance Dam, set to be Africa's largest hydroelectric project when completed, has sparked an almost decade-long diplomatic...
- The UN’s top security body also invited observers who would be acceptable to the three parties
- The dam was the subject of a Security Council meeting in early July
Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
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Business
US first quarter economic growth 2 percent after strong consumer spending
Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department...
Economy
US Federal Reserve calls for better supervision of banks
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...
Business
EU presses Tunisia in bid to stem Med migrant flow
In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to...
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Economy
Gulf oil states on a charm offensive across South Pacific
The Pacific bloc represents 12 of 55 votes in the United Nations' Asia-Pacific region, which also includes Saudi Arabia and...
- Saudi Arabia and the United Arab Emirates - two of the world's biggest crude oil producers - have been ramping up efforts to shed their reputations as global climate laggards
- Both have been lavishing money and attention on small, isolated and often indebted Pacific nations, where rising sea levels are already creeping up on low-lying coastal communities
Economy
Price monetary policy tools strong in managing public funds: Iraq official
Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public...
- The advisor to the Iraqi PM said that the budget's financing methods primarily involve Iraqi dinars in exchange for foreign currency
- He further noted that the strength of monetary policy and foreign reserves stand at their highest level in the country's financial history
Economy
World Bank approves $1bn for Turkiye’s earthquake reconstruction
Ankara, Turkiye - The World Bank has announced its approval of $1 billion in financing to assist Turkiye in the...
- The bank highlighted that the financing will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure
- The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside