Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
Iran steel production rises 10% in 2021
The country has kept its position as the 10th largest producer of steel in the world this year.
- The performance of some leading Iranian steel companies indicates they exported 916,236 tons of steel in June
- This which indicates a growth of 104 percent compared to June 2020
Analysis
Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent...
- Saudi Arabia ranked first in the GCC in terms of the unemployment rate, which reached 8.2 percent of the total workforce in 2020.
- Bahrain and Oman are struggling with rising public debts while their unemployment rates stood at 4.1 percent and 5 percent respectively.
Economy
Nasdaq, S&P 500 again end US trading at records
The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record
- The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record
- The benchmark Dow Jones Industrial Average gained 0.1 per cent to end at 35,405.50
Economy
Raisi says economy, Covid response ‘does not befit’ Iran
He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
- He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
- Iran has been strangled financially by sanctions reimposed by Washington after then US president Donald Trump pulled out of a multilateral nuclear deal in 2018
Infographics
How will new remittance rules affect Lebanon?
The new rule authorizes banks to buy dollars from fresh dollar accounts without a customer's permission.
- Lebanon ranked third in the Arab world in receiving remittances in 2020
- Dollars entering Lebanon in the first half of 2021 were higher by 50 percent than those over the same period in 2020
Business
GCC hotel industry readies for a comeback
The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...
- Hotel licenses in Saudi Arabia can now be obtained in just 10 days.
- Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.
Economy
Mena region needs water resilience: World Bank
Without water resilience, the MENA region may see a loss of 6-14 percent of the collective GDP by 2050, says...
- A drought can reduce the economic growth of a city anywhere in the world by up to 12 percent, says the World Bank
- The MENA region, it says, has over 60 percent of the population living in areas with high water stress, compared with 35 percent globally
Slow Covid vaccination to cost global economy $2.3trn
Emerging countries will bear the brunt of the losses from slow vaccination efforts, according to the Economist Intelligence Unit
- Emerging countries will bear the brunt of the losses from slow vaccination efforts, according to the Economist Intelligence Unit
- Covid, vaccination, economist, intelligence unit, global economy, study
Business
Women-only business package introduced in Masdar
Masdar City Free Zone offers opportunities for UAE women who constitute 70 percent of UAE university graduates and are also...
- The announcement comes ahead of Emirati Women’s Day on Aug. 28.
- A team of experts are available to assist aspiring women entrepreneurs.
Geostrategy
IsDB and OIC keen to boost cooperation
Both institutions will work toward supporting economic and social development in member countries.
- IsDB is organizing a forum in Tashkent on Sept. 2 on post-Covid 19 situation.
- Both institutions will work toward supporting economic and social development in member countries.
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
Company News
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Remittance flows to Egypt to surge by 3.1% in 2023: World Bank
Cairo, Egypt - The remittances to Egypt, the biggest recipient of such flows in the MENA region, are set to...
Economy
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...
Geostrategy
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...
Economy
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Geostrategy
India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership
Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both...
- New Delhi and Cairo have pledged to boost bilateral trade as India is also stepping up investment in Egypt, particularly in renewable energy.
- India is already Egypt's seventh-largest trading partner, according to data from Cairo's central bank, with trade reaching $7 billion last year.
Geostrategy
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
Business
Sharjah real estate transactions in May valued at US$653m
SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4...
- The report issued by Sharjah Real Estate Registration Department revealed that 3,540 transactions were recorded in various regions across the emirate.
- The report indicated that the real estate sector has maintained its leading position as a preferred choice for those wishing to buy or invest in Sharjah.