Sudan economy falls victim to war between rival generals
With most banks out of service, the only exchange rate that matters to ordinary Sudanese is on the black market,...
Geostrategy
Diversification helps GCC surge in global markets
Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global...
Economy
Economy
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...
- Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
- By 2030, the country expects to enhance its airport capacity by 30 percent
Economy
Arabs seek freelance jobs as economy recovers
Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first...
- Number of people who obtained a freelance employment document reaches 631, 518
- The ministry also said most freelancers are aged between 20 and 30 years old, with most of them working in graphic design, marketing and advertising, and family businesses
Economy
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.
- Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
- 504-km-long chairlifts, waterfalls, hotel among other projects.
Analysis
New GCC wealth drives private banking
Private banks cater to the complex banking needs of the Ultra High Net Worth Individuals and High Net Worth Individuals...
- Saudi UHNWI population has grown by 227 percent since 2016, the fastest growth rate globally over this period.
- Private banking yields returns up to 30 percent annually, but more typically are in the 7-13 percent.
Economy
Lebanon unlivable as economic, fuel crises deepen
Residents line up for days to get gas, while electricity only runs for 2 hours a day
- Lebanon’s energy crisis is dragging people to unlikely places in their desperate quest for life’s essentials
- Residents line up for days to get gas, while electricity only runs for 2 hours a day
Economy
Megaship that blocked Suez heads back to Asia
The MV Ever Given had "successfully crossed" the canal after unloading its cargo in Britain and was now on its...
- The vessel was seen sailing in open waters accompanied by Egypt-flagged tugboats
- The Ever Given got stuck diagonally across the canal during a sandstorm on March 23
Economy
Ex-head of Tunisia’s Anti-Corruption Committee placed under house arrest
Chaouki Tabib headed the independent authority from 2016 to 2020, when he was sacked by former Prime Minister Elyes Fakhfakh
- Chaouki Tabib headed the independent authority from 2016 to 2020, when he was sacked by former Prime Minister Elyes Fakhfakh
- Tunisian President Kais Saied last month dismissed the prime minister, froze parliament and assumed executive authority
Economy
Morocco to keep Algeria-Spain gas pipeline open
The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs...
- The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs out in October
- There was concern its renewal might fall foul of the latest spat between the two countries
Economy
Tackling Covid, reviving economy priorities: Raisi
More than 16.3 million people out of Iran’s 83 million inhabitants have been given a first vaccine dose, but only...
- Raisi has tapped 63-year-old optometrist Bahram Eynollahi as his health minister
- Iran, battling the Middle East's deadliest Covid outbreak, launched a vaccination drive in February
Economy
More than 4m could lose water in Lebanon, warns Unicef
Unicef is calling for the urgent restoration of power supply, which is the only solution to keep water services running.
- Lebanon is currently suffering from one of the world’s worst economic crises since the mid-1800s
- Matters have only been made worse by the withdrawal of fuel subsidies by the country’s central bank
Sudan economy falls victim to war between rival generals
With most banks out of service, the only exchange rate that matters to ordinary Sudanese is on the black market,...
Geostrategy
Company News
Latest News
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...
Economy
Qatar to head ICAO’s Technical Cooperation Committee
Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC)....
Economy
Libya’s east-based government threatens to block oil exports
Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
Economy
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Business
More than 900,000 passengers to use Abu Dhabi International Airport on Eid
Abu Dhabi, UAE-- Some 900,000 passengers are expected to pass through Abu Dhabi International Airport on more than 5,000 flights...
- Abu Dhabi Airports gave out the projected numbers ahead of an expected uptick in passenger traffic at Abu Dhabi International Airport during the Eid celebrations
- On June 24, and June 25th, and July 2nd airport authorities expect heavy passenger traffic to pass through the emirate's five airports and expect to serve almost 65,000 passengers
Business
Iraq’s finance and business center to be a hub for trading, selling
BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling...
- The Prime Minister's financial advisor emphasized the center's role in Iraq's financial and banking development strategy.
- He said that the center would cater to both the banking and non-banking financial businesses, such as insurance companies.
Business
Aramco, TotalEnergies to construct petrochemical unit in Saudi Arabia
Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two...
- The move "marks the start of construction work on the joint petrochemical expansion", Aramco and TotalEnergies said in a joint statement.
- The project, first announced in 2018, represents an investment of around $11 billion, of which $4 billion will be funded through equity by Aramco and TotalEnergies.