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
UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Business
Egypt to earmark $2.5bn for 17 desalination plants
Fresh water resources are becoming scarce due to drought in Egypt, which is more than 90% dependent on the Nile...
- The plants will supply drinking water to people in a country where potable water is often not very readily available
- This move is the latest in Egypt’s list of initiatives to improve the supply of drinking water to its people
Economy
Saudi Arabia looks to boost exports
Saudi Arabia will resume negotiations with 11 countries for free trade agreements meant to increase non-oil exports share in GDP.
- Saudi Arabia is looking for more trading partners under free trade agreements as the country aims at increasing non-oil exports share in GDP
- The kingdom is resuming negotiations for free trade agreements with 11 countries, Okaz paper reported
Geostrategy
Qatar to give $10m per month to Gaza families in aid
Each of about 100,000 needy families in the governorates of the Gaza Strip would receive $100 per month in cash.
- Qatar will transfer the aid funds before the end of August
- The distribution of these funds will start in the month of September
Geostrategy
US to help Lebanon procure electricity
Lebanon has been struggling with fuel shortages for a couple of months, which has led to protracted power outages.
- The economic crisis in Lebanon is so dire that the World Bank has said it is among the 10 worst of its kind since the mid-1800s.
- The global body also said the crisis could be among the top three in the world if it was not addressed immediately
Economy
Oman to ease Covid-19 measures from Aug 21
The relaxation will see the reopening of public buildings, malls, and restaurants, as well as resumption of public events.
- Covid-19 infections are decreasing in Oman, with 187 reported per day on average over the past week
- There have been 300,728 cases in all since the beginning of the pandemic, and 4,013 deaths till date
Economy
Death toll crosses 2,000 in quake-stricken Haiti
The quake also injured at least 12,268 people and damaged or destroyed tens of thousands of buildings in the Caribbean...
- The quake also injured at least 12,268 people and damaged or destroyed tens of thousands of buildings in the Caribbean nation
- The government has declared a month-long state of emergency in the four provinces impacted by the latest quake
Economy
Hezbollah says Iran fuel tanker to sail to Lebanon
The move, prohibited by US sanctions on Iran's oil industry, could drag Lebanon into the covert naval war between Tehran...
- Neither the Iranian nor the Lebanese governments have confirmed the paramilitary organisation's claim
- The move, prohibited by US sanctions on Iran's oil industry, could drag Lebanon into the covert naval war between Tehran and Israel
Economy
Charity, humanitarian aid workers to get UAE’s Golden Visas
The visa allows residence for five to 10 years, which is automatically renewed for people in certain categories such as...
- Dubai ruler Rashid Al Maktoum said Golden Visa will provide charity workers in the UAE a safe haven to pursue their work.
- He cites establishment of the Dubai International Humanitarian City as an example of the emirate's commitment to humanitarian causes.
Research
Turbulent economy under Taliban
Ahmady explained that the Taliban would have access to only 0.1-0.2 percent of the country’s foreign reserves of $9 billion,...
- Ahmady explained that the currency may depreciate, something that already happened over the weekend the Taliban took Kabul
- He also predicted that food prices would rise, hurting the poorest the most
Economy
Troubled land: The Sahel’s ‘three-border’ region
The vast arid region, along with central Mali, has become the worst-hit area in the jihadists' nine-year-old campaign
- The vast arid region, along with central Mali, has become the worst-hit area in the jihadists' nine-year-old campaign
- As elsewhere in the Sahel, the birthrate here is high and climate change has sharpened competition over scarce resources
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
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Iran’s oil exports surge to 1.9 million barrels per day in May
In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge...
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...
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...
Business
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Economy
Kuwait’s central bank says broad money supply rises marginally
KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May...
- Local banks' private sector deposits increased by 0.6 percent to settle at $119.4 billion, revealed the CBK's economic research department.
- Local banks' assets fell by 0.1 percent to record $280 billion, while the net foreign assets decreased by 0.2 percent to $34.3 billion.
Economy
KSA outsources work worth US$693m for achieving Saudi Vision 2030
RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of...
- The minister said by executing many projects, the non-profit sector has contributed to achieving national development.
- He said one of the achievements has been the development of the incorporation procedures of non-profit organizations within four days.
Business
Dubai Land Department unveils real estate investment trusts
DUBAI, UAE - Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts...
- The move aims to provide incentive benefits to encourage REIT to consider various projects across Dubai.
- The aim is also to increase investment in the market by achieving a long-term capital return for shareholders.