Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...Economy
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...Business Economy
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy
UAE as hub will help food security corridor under I2U2 framework: Indian minister
Abu Dhabi, UAE - The UAE as a geographical and business hub will help the proposed ‘food security corridor project...The UAE as a trading hub can cater to the GCC, CIS countries [former Soviet Republics], eastern Europe and all of Africa, Piyush Goyal said
Food corridor will get large economies of scale and will contribute not only to global food security but also help keep the food prices in check., he added
Vision 2040: Saudi Arabia’s new economic blueprint
Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements
With a focus on diversifying the economy, enhancing global competitiveness, and fostering innovation, Saudi Arabia is poised to redefine its global economic standing
Dubai’s weeklong real estate transactions exceed US$2.5bn
DUBAI, UAE - A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...The Dubai Land Department report showed that 248 plots were sold for US$476 million.
The DLS report said 1,197 apartments and villas were purchased for US$865 million.
Saudi Arabia’s Tabuk region produces over 28m roses annually
TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...These flowers have a market value of over US$8.5 million making the region a leader in rose production and export.
The Kingdom’s Ministry of Environment, Water and Agriculture has developed strategies to advance the sector.
El Nino forced sugar price to hit 13-year high in September, says FAO
Paris, France - Global sugar prices soared to their highest level in almost 13 years in September as the El Nino...While world food prices steadied as a whole last month, the FAO's Sugar Price Index jumped by 9.8 percent compared to August.
El Nino, a climate pattern, is typically associated with warming ocean surface temperatures in the central and eastern tropical Pacific Ocean.
World Bank expects Gulf economies to grow by 1 percent in 2023
Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024.
The World Bank added that Saudi Arabia's economy, the largest in the region, will contract by 0.9 percent in 2023 before rebounding to grow by 4.1 percent in 2024.
Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.
This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.
Saudi Arabia to enhance air connectivity to over 250 destinations by 2030
RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.
Luxembourg, EU’s richest country, grapples with housing crisis
Luxembourg, Luxembourg -- Luxembourg's residents may be classified as the wealthiest in the European Union, but the sky-high cost of buying...In the capital city, new-build flats sell for around $1,300 per square foot and older ones go for 10,700 euros. The average cost of a house is 1.5 million.
Housing crisis has become the number one concern in the Grand Duchy of 660,000 people -- smaller than Rhode Island, the smallest US state -- as it goes to the polls on Sunday.
