WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Economy
Saxo Bank reveals a 200% spike in UAE female investors
Women now make up almost 12 percent of Saxo Bank’s active clients for the market
- Women now make up almost 12 percent of Saxo Bank’s active clients
- Increase over the past year aligns with UAE's Women Empowerment Initiatives
Economy
OPEC daily basket price stands at $70.75 a barrel
The price of the basket was $70.59 on August 25
- The price of the basket was $70.59 on August 25
- The OPEC Reference Basket of Crudes (ORB) is made up of oil producing countries
Geostrategy
Lebanese delegation to seek help from Syria, Jordan, Egypt
The delegation will discuss the possibility of receiving electricity from Jordan and gas from Egypt through Syrian territories.
- The delegation will include four ministers with different portfolios and some top officials from the Energy Ministry
- The date of the visit has reportedly not been set yet, but it is expected to happen very soon
Geostrategy
Regional security in focus as Mideast leaders meet
Leaders from around the MENA region are arriving in Baghdad for a summit meant to lower tensions in the region....
- France is co-organizing the meeting to discuss security issues in the Middle East
- For Iraq, hosting the talks is seen as a significant step toward strengthening the country's position in the region
Economy
Egypt’s economy capable of facing challenges: Sisi
The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.
- These statements come in the aftermath of Egypt’s non-oil exports increasing 22 percent in July, as compared to the same period last year
- In fact, the International Monetary Fund has already predicted that the country’s GDP would grow 5.2 percent in the current fiscal
Economy
Iran to build 3GW renewable power plants
The move is a collaboration between Iran's Power Generation, Distribution, and Transmission Company, and the Iranian Fuel Conservation Company.
- There are currently 100,000 agricultural wells in the country that use diesel to pump water
- The construction of renewable power plants would save huge amounts of fuel in addition to supporting the power grid
Business
Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.
- Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
- The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Economy
Jadwa says Saudi economy to fare better
Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the...
- Jadwa predicts growth of 1.8 percent, revising previous estimate of 1.3 percent
- Non-oil private sector growth seen at 4.4 percent
Business
Lebanon taps Dubai’s ENOC for fuel swap
Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.
- As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil
- In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil
Economy
Israel gives hospitals $31 million to end partial strike
Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.
- Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding
- Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Company News
Microsoft, G42 sign MoU
Business
Latest News
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...
Economy
Equities, ruble sink as traders eye Russia after failed uprising
While the advance by the Wagner mercenary force led by Yevgeny Prigozhin was called off before it reached Moscow, analysts...
Economy
EIB to finance Jordan’s upgrade of water-supply system with US$66.52mn
Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply...
Economy
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Geostrategy
Future of Iran-UAE relations promising: Reza Ameri
Tehran, Iran-- The future of relations between Iran and the United Arab Emirates is promising and in line with the...
- Reza Ameri, Iran's new ambassador to the UAE, noted progress in relations between the two countries after a period of downturn
- The UAE and Iran have had discussions to cooperate in political, economic, commercial, consular, cultural and scientific fields
Economy
Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs
Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted...
- The traffickers attempted to smuggle 36.76 kilograms of marijuana through the airport, and in another seizure a big haul of 75,000 Captagon tablets was seized
- Dubai Customs has installed a state-of-the-art system at Jebel Ali Customs Center and TECOM allowing for inspection of large vehicles, yachts and containers
Economy
Germany gears up for continued recession after years of bloom
BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum...
- Having dipped into recession at the beginning of the year, Germany looks set to finish the year in the red - and at the back of the pack among its eurozone competitors.
- The government is the only one left still predicting GDP will grow this year, while the main economic institutes and the IMF are looking at a drop of 0.2 to 0.4 percent.