WTO convenes ministers in UAE with slim hopes for breakthrough
The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...
Economy
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
Economy
IMF’s SDR allocation to benefit rich MENA nations
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
- The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves
- SDR allocations will help most vulnerable countries struggling to cope with the impact of the COVID-19 crisis
Economy
Lebanon finally launches cash subsidy cards
Lebanon’s caretaker minister of social affairs announced the cash cards on Thursday, saying they would benefit 500,000 families.
- The total cash payments to be made amount to $556 million
- The figure was approved by the authorities in June
Egypt’s inflation leaps up to 5.7 percent in August
Egypt's annual urban consumer price inflation rose to 5.7 percent in August, up from 5.4 percent in July, official statistics...
- Egypt's annual urban consumer price inflation rose to 5.7 percent in August
- Food inflation was the key driver jumping from 4.9 percent y/y in July to 6.6 percent y/y in August, the highest for two years
Analysis
GCC in hot pursuit of 2050 emission goals
The GCC nations are looking at the $500-billion market for Green Hydrogen by 2050, but will it be enough?
- IRENA says GCC countries need to invest up to $148 billion each year until 2050 to meet the goals of the Paris agreement
- DNV expects clean-energy expenditure to increase by around 70 percent between 2019 and 2030 to $1.9tn
Business
Iran mulls preferential trade agreement with Lebanon
The director-general of the Iranian Trade Promotion Organization’s Office of Arabian and African Countries has said Iran is in talks...
- Lebanon is currently suffering under one of the world’s worst economic crises since the mid-1800s
- The situation is such that senior economist Nasser Saidi has said hyperinflation is imminent in the country
Company News
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SoftBank to sell Alibaba stake
Business
Rescue ship saves 86 migrants off Libyan coast: charity
The UN's International Organization for Migration estimates that 1,724 migrants had disappeared trying to cross the Mediterranean to Europe so...
Geostrategy
Qatar to ramp up investment and economic cooperation with Iran
Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen...
Economy
Sharjah Football Company signs Tunisian star Mohamed Firas Belarbi
Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed...
Economy
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Economy
Key technologies set to positively impact the world
Jurgens' remarks coincide with the World Economic Forum's announcement of its annual list of breakthrough technologies. These technologies, including flexible...
- The World Economic Forum has releases its annual list of breakthrough technologies poised for global impact
- The list of the important innovations includes flexible batteries, generative AI, and sustainable aviation fuel
Science
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
- The new technologies include flexible batteries, generative AI and sustainable aviation fuel.
- These would be disruptive, attractive to investors, researchers, and achieve considerable scale within five years.
Economy
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...
- Compared with March 2023, the Kingdom's imports from GCC dropped by 21 percent, or SAR 1.52 million.
- The Kingdom's merchandise imports rose 1 percent year-on-year to almost SAR 57.9 billion in April.