Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...
Economy
Hawkish economic approach on China has bipartisan support in US, say analysts
WASHINGTON, US - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards...
Geostrategy
Economy
Leaders mull Arab Center for Food Security
The 22-member Arab League and its legislative body, the Arab Parliament, are planning to establish a food-security body.
- The organization would be expected to enhance social and economic security in the region
- It would also be expected to achieve sustainable development goals in Arab countries
Economy
UAE sends plane carrying urgent food, medical aid to Afghanistan
The UAE foreign ministry confirmed to AFP that "this is the first (Emirati) aid flight since the recent events in...
- The UAE foreign ministry confirmed to AFP that "this is the first (Emirati) aid flight since the recent events in Afghanistan".
- The UAE is one of a number of Gulf states that have been instrumental staging posts for evacuation flights for foreigners and Afghans, along with Qatar, Kuwait and Bahrain
Business
Israel opens Chinese-operated $1.7bn port in Haifa
The port, to be operated by Shanghai International Port Group, is expected to bring competition to a sector plagued by...
- It is expected to enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel
- About 99 percent of all goods move in and out of Israel over sea, and an upgrade is needed to maintain economic growth
Economy
Egypt gained most from Islamic Development Bank in 2020
IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.
- IsDB gave out around $6.8 billion to various nations last year
- Egypt’s share in that, at $1.13 billion, amounted to around 17 percent
Economy
UAE outsmarts competitors in luring foreign investors
The UAE government's recent decision to slash the fee to set up a business by 94% to US$272 is expected...
- The UAE Government has slashed the fees for setting up a business by about 94% to only US$272 (AED 1,000)
- In A T Kearny’s FDI Confidence Index 2021, the UAE gained four places – from 19th rank in 2020 to 15th rank in 2021
Economy
Israel’s budget passes first hurdle in parliament
The budget proposal was approved in August by the coalition government of Prime Minister Naftali Bennett
- The budget proposal was approved in August by the coalition government of Prime Minister Naftali Bennett
- The budget bill will now go to committee before being submitted for final approval at a second or third reading in the autumn
UAE’s non-oil trade with Arab countries hits AED191bn in H1
The non-oil trade between the UAE and Arab countries grew 29 percent to AED191 billion in the first half of...
- UAE’s Minister of Economy Abdulla bin Touq Al Marri calls for greater efforts to increase intra-Arab trade
- He underlines the UAE’s support for all relevant regional efforts, made within the Greater Arab Free Trade Area (GAFTA) and the Arab Customs Union
Geostrategy
Iran discusses oil cooperation with China
Iran is hard pressed to sell its oil to countries across the world due to the sanctions placed by the...
- Iranian Oil Minister Ali Owji has met discussed ways to increase cooperation with the CNPC
- CNPC’s Middle East department deputy head Libin Zhang met Owji in Vienna on Thursday
Economy
UAE announces 50 national development projects
The projects are expected to lay the foundations for further growth of the UAE.
- The economic and developmental projects will foster a competitive business environment
- This is expected to attract investors, innovators, entrepreneurs, and talents from across the world
Geostrategy
IsDB launches $100m fund in Uzbekistan
The $100-million fund, mainly supported by Saudi investors, will target 34 micro, small, and medium enterprises.
- The economic development fund is expected to generate 100,000 jobs in the country which is struggling with poverty
- The new fund is part of the IsDB’s series of development activities in Uzbekistan, which so far stand at $2.4 billion in value
Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...
Economy
Company News
Latest News
Qatar and Iran agree to deepen ties in labor sector
Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities,...
Economy
Top Abu Dhabi firms to attend Europe’s asset and wealth management conference
Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management...
Economy
UAE national banks provide $11bn in financing to commercial, industrial sectors
Dubai, UAE - National banks in the UAE have increased their credit financing to the business and industrial sectors by...
Economy
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Business
Institutional investors buy more local stocks in UAE markets since Jan
Abu Dhabi, UAE -- Institutional investors bought more local stocks than they sold in the Abu Dhabi Securities Exchange (ADX)...
- Net purchases by institutional investors totaled AED 5.6 billion ($1.52 billion), after buying stocks worth AED165.4 billion and selling AED159.7 billion in stocks.
- Institutional investments accounted for some 78 percent of the total trading volume, both buying and selling, in both markets since the start of the current year.
Business
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.
- With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
- ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Economy
Abu Dhabi first quarter GDP up 3.9% on strong non-oil growth
Official data show a 6.1 percent growth in non-oil GDP during the first quarter of 2023, driven by strong performances...
- This the highest quarterly value in the past nine years. The contribution of non-oil activities to the total GDP reached its highest level in eight years to 52.8 percent.
- The construction sector recorded highest quarterly growth rates in nine years during the first quarter of 2023 and the fourth quarter of 2022 in a row.