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
UAE allocates $5m to WTO’s Women Exporters In Digital Economy Fund
Dubai, UAE – United Arab Emirates on Sunday allocated $5 million to a $50 million fund launched Sunday ahead of...
Economy
Economy
Two decades after 9/11, Saudi Arabia seeks economic reform, softer image
Women can drive and cinemas have reopened in the "new" Saudi Arabia under crown prince and de facto ruler Mohammed...
- Women can drive and cinemas have reopened in the "new" Saudi Arabia under crown prince and de facto ruler Mohammed bin Salman
- MBS as crown prince is called, has brought a string of economic, social and religious changes
Research
HNWIs drive up luxury car sales in Gulf region
Being home to most of the high net-worth individuals in the Middle East, Saudi Arabia, the UAE and Qatar are...
- Porsche Middle East and Africa’s successful implementation of new retail strategy helps in achieving the targets in Q1 2021.
- GCC governments are committed to increasing sustainability by reducing carbon emissions.
Economy
Bitcoin in El Salvador: How will it work?
Bitcoins are loaded onto digital wallets and accessed via a mobile app. To download the wallet, one needs a Salvadoran...
- Bitcoins are loaded onto digital wallets and accessed via a mobile app. To download the wallet, one needs a Salvadoran ID document
- To draw or deposit cash (in dollars), the government has erected 200 Chivo automatic teller machines countrywide
Economy
UAE, Qatar least hit by graft in MENA region: Survey
Across the MENA region, years of corruption has left countries woefully unprepared to face the COVID-19 pandemic
- Across the MENA region, years of corruption has left countries woefully unprepared to face the COVID-19 pandemic
- In terms of performance, the UAE and Qatar are the top regional performers on the CPI with scores of 71 and 63 out of 100 respectively
Economy
Belt and Road Initiative in GCC: A deep dive
The relations between the Arab world and China have touched new highs particularly after China launched the Belt & Road...
- Bilateral trade between China and GCC increased 180 percent from US$68bn in 2009 to US$190bn in 2019
- Gulf imports from China totaled US$10 bn in clothing, textiles, and fabrics, accounting for 66 percent of Arab trade with China
Economy
Iran spends $620m to mechanize agriculture
That amount reportedly equals 87 percent of the total budget allocated to a credit line for agricultural mechanization.
- The money has been used to supply agricultural machinery, tools, and equipment
- These have been supplied in fields like horticulture, livestock, poultry, and aquaculture
Geostrategy
Morocco polls: ‘New model of development’ in focus
King Mohammed VI will name a prime minister from the party that leads the parliamentary poll to govern for the...
- King Mohammed VI will name a prime minister from the party that leads the parliamentary poll to govern for the next five years
- The palace remains the source of key decisions and strategic direction in the country of 36 million people
Economy
Power cuts stall industrial revival in Syria’s Aleppo
The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
- The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
- Syrians in government-held areas have had to adapt their lives at home and work around power cuts of up to 20 hours a day
Economy
In world first, bitcoin becomes legal tender in El Salvador
El Salvador has become the first country to introduce bitcoin as legal tender, with high demand forcing a freeze of...
- Bitcoin can be bought and spent using a cyber wallet called "Chivo"
- Special ATMs allow people to make bitcoin transactions and draw cash in dollars
Economy
Asian markets lifted by recovery hope, Tokyo breaks 30,000
While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.
- Shanghai, Sydney, Singapore, Wellington, Manila, Mumbai and Bangkok post gains; Seoul, Taipei and Jakarta the only stragglers.
- Tokyo continued its march higher on stimulus hopes, while a reshuffle of the Nikkei 225 also provided healthy support.
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
Company News
SoftBank to sell Alibaba stake
Business
Latest News
LVMH posts Q1 revenue of $23.1bn
Business
Doha, Dubai most competitive job markets globally
Despite international scrutiny over labor practices, Qatar and the UAE continue to attract job seekers with attractive policies like tax-free...
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...
Economy
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...
Science
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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...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of Bahrain
- The weighted average rate of interest is 6.15 percent compared to 6.11 percent in the previous issue on June 21
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...
- With the events in eastern Europe a little less worrying for now, focus has returned to the battle against surging inflation, which has dogged global markets this year.
- Fed's warning last week that rates would likely need to go higher dealt a blow to hopes that officials were at the end of close to completing their tightening cycle.
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
- The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
- Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools