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
UAE to provide US$10m grant to support WTO initiatives, says foreign minister
ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE...
Geostrategy
Business
Iran to set up real-estate stock exchange in H2
When established, it is expected to be Iran’s fifth major stock exchange.
- It will be under the purview of the Iran Mercantile Exchange or IME
- Such an exchange is expected to provide housing units for the underprivileged
Business
Chabahar port becomes permanent member of World FZO
The World FZO is a non-governmental, non-profit entity based in Dubai in the United Arab Emirates.
- Chabahar is Iran's only oceanic port on the Gulf of Oman
- It can from now on participate in the decisions and events of the World FZO
Economy
All projects under Saudi Vision 2030 ‘colossal’
The number and value of mega projects set to transform the country’s real estate landscape and showcase the kingdom’s vision...
- Nearly $300bn of the total spends dedicated to new infrastructure, according to consultancy firm Knight Frank.
- Inquiries for development consultancy and development management services have increased over the last six to 12 months.
Fighting in Syria’s Daraa displaces 38,000: UN
Clashes between the two sides since late July have marked the biggest challenge yet to the Russian-brokered deal that returned...
- Clashes between the two sides since late July have marked the biggest challenge yet to the Russian-brokered deal that returned the southern province to government control
- The Britain-based Syrian Observatory for Human Rights said that government forces are restricting the entry of goods into Daraa al-Balad
Oman lifts travel ban on India, Pakistan, Bangladesh
Fully-vaccinated passengers from 21 countries can now travel to Oman, according to a new circular issued by the country’s Civil...
- All those coming to Oman are required to present a Covid-19 vaccine certificate
- The certificate must contain a QR Code stating that they have received two doses of an Oman-approved vaccine
Business
Kuwait looks to regulate local used-car trade market
The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.
- Local authorities were recently alerted to people in the country with up to 50 vehicles in their names
- These people were apparently trading in used cars without a proper license
Analysis
Lebanon to disburse dollars to families
The decision to disburse the $246-million World Bank loan in dollars will have a significant impact on the beneficiaries.
- Lebanon had approved a $246-million loan from the World Bank in March this year
- Its disbursal had been held up due to government’s initial decision to disburse the loan in Lebanese pounds
Economy
Developing countries to get $275bn of IMF reserves
Managing Director IMF Kristalina Georgieva said the largest allocation in history, about $650 billion in Special Drawing Rights, was a...
- The IMF's last SDR distribution came in 2009 when member countries received $250 billion in SDR reserves to help ease the global financial crisis.
- The possibility of a new trust is being explored, which could use channeled SDRs to help the most vulnerable countries with structural transformation.
Economy
Riyadh eyes top 10-city league with $440bn makeover
As part of its grand "Riyadh Strategy," the kingdom will give the city a complete makeover, building satellite townships, new...
- Saudi Crown Prince Mohammed bin Salman’s “Riyadh Strategy” includes satellite townships and new airports, among other state-of-the-art projects
- The Saudi government expects a matching sum of US$220bn from the private sector in its efforts to turn Riyadh into a global city
Despite economic crisis, Lebanon to reopen schools
Rights groups have decried an “education catastrophe”, with more than a million children in Lebanon out of school since the...
- Rights groups have decried an “education catastrophe”, with over a million children in Lebanon out of school since the country’s Covid-19 outbreak began in February last year
- Other students are at risk of never returning due to a financial downturn that has seen poverty rates soar to reach 78 percent of the population
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
Company News
Latest News
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...
Economy
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...
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...
Geostrategy
Most Read
Economy
UAE GDP up 7.9% in 2022 on strong non-oil sector performance
Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking...
- The UAE's GDP at constant prices totaled AED1.62 trillion in 2022, while non-oil GDP at constant prices reached AED1.174 trillion.
- Al Marri noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent in the past six years, the highest in the GCC region.
Saudi Arabia hosts the biggest hajj pilgrimage in years
Islam's holiest site is expected to host more than two million worshipers from 160 countries during the annual rites that...
- The hajj began early on Sunday with the "tawaf" -– the circumambulation of the Kaaba, the large cubic structure draped in black cloth with gold trimmings
- This year’s pilgrimage will be the biggest since Saudi Arabia scrapped rules in 2021 that banned women who weren't accompanied by a male relative
Economy
Abu Dhabi approves housing benefits worth US$844mn for 1,807 citizens
Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens...
- Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed, and chairman of the Abu Dhabi Executive Council, approved the grant for 1,807 citizens in Abu Dhabi
- Two grants will go toward ready-made housing for low-income individuals worth $272 million, and another for housing loans to citizens worth $571 million