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
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
Economy
Arts & Culture
Colonial-era architectural heritage at risk in Tunis
Built by Italian and French architects and businesspeople, such buildings are associated with colonialism
- Built by Italian and French architects and businesspeople, such buildings are associated with colonialism
- Built just outside Tunis's traditional Arab medina they were meant to "modernise" the city
Economy
Iran may see power-supply problems in winter
The Energy Ministry could face serious problems in meeting electricity demand in winter if power plants did not get fuel
- The Energy Ministry cannot reduce supply to the domestic sector in winter
- Therefore, it must supply liquid fuel to power plants in advance to keep up with demand
Economy
Lebanon crisis may fuel bread shortage
The Lebanese flour millers' association has said mills might gradually stop working as fuel supplies run out. This, when the...
- This is the latest casualty of fuel shortages in Lebanon, where hospitals have already warned that they are hanging on by a thread
- The overall shortage of power-generating fuel has resulted in protracted power cuts in the country, forcing medical facilities to run generators, which too need fuel to run
Economy
Lebanon’s ‘new poor’ pull children out of private school
Since 2019, Lebanon's financial meltdown, one on the planet's worst since the 1850s, has decimated the country's middle class
- Since 2019, Lebanon's financial meltdown, one on the planet's worst since the 1850s, has decimated the country's middle class
- Entire families have seen their savings all but vanish and salaries dwindle to barely a tenth of their previous dollar values
Economy
Kuwait loses $4b per year to corruption: Expert
According to Transparency International, Kuwait in 2020 ranked 78 out of 180 countries in the Corruption Perception Index.
- Kuwait Economic Society chairman Abdul Wahab Al Rasheed said failure to take the right decision at the right time was the worst form of corruption
- He also called for urgent economic reform, without which the country’s budget deficit would equal its sovereign fund by 2035
Economy
Sports sector adds $1bn to Dubai economy each year
The growth in the sector is a result of the Dubai community’s increasing interest to participate in sports activities over...
- Around 1.5 million people regularly engage in sports and physical activities in the emirate, acccording to the Dubai Sports Council
- This has led to an increase in the number of national and international sporting events being hosted in Dubai
Economy
GDP of OECD economies up by 1.6 percent in Q2
Despite the rise in the GDP of the Organization for Economic Co-operation and Development (OECD) economies to 1.6 percent in...
- The UK recorded the strongest growth (4.8%) followed by Italy (2.7%)
- GDP also increased in the other Major Seven Economies, but to a lesser extent
Infographics
ADX is the least expensive equity market in MENA
ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the...
- ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the end of 2021
- The cost of execution includes several components and depends on the exchange
Economy
US stocks continue to advance
The S&P 500 and Nasdaq advanced after posting records at the close of trading Friday
- The S&P 500 and Nasdaq advanced after posting records at the close of trading Friday
- The broad-based S&P 500 was up 0.2 percent at 4,518.34 and the tech-rich Nasdaq Composite Index climbed 0.4 percent to 15,186.63
Economy
Foreign investment in Saudi markets rose 150% in Q2
The sectors in the country that attracted the most foreign investment were banking, basic items, energy, and communications.
- Saudi Arabia was granted membership of the World Trade Organization in 2005
- This is opened up the country to ever-increasing investments from foreign parties
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
Company News
Latest News
HNWIs’ wealth in Middle East grows despite slowdown
Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
Economy
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)...
Business
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.
Business
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Business
Bahrain central bank $185m Treasury bills oversubscribed 109%
Manama, Bahrain -- Treasury bills valued at Bahrain Dinar 70 million ($185 million) issued this week by the Central Bank...
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
- The total outstanding value of Government Treasury bills, typically issued with maturities of 91 days, 182 days, and 364 days, is BD 2.110 billion.
Business
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
- Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
- In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Economy
Qatar takes part in 58th MENA customs regional meeting
Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and...
- The meeting of the top officials discussed policy commission, committee membership, and the adoption of the document for the appointment of the techncial attache
- The WCO council reviewed customs work, capacity building, rules of origin, valuation, nomenclature and classification, compliance, and trade facilitation