US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...Economy
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...Economy
In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia
Lebanon’s central bank chief to end term with no successor
Lebanon's deeply divided political class has failed to agree on a replacement for Salameh, 73, creating another power vacuum in...Salameh has for two years been the subject of judicial investigations at home and abroad into allegations including embezzlement and money laundering, charges which he denies
Lebanon's central bank chief Riad Salam is wanted in France and Germany, and Interpol has issued a Red Notice for his arrest, but Lebanon does not extradite its nationals
Oman inflation spikes 2.8% in 2022, pushing up food prices
Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...Food and non-alcoholic beverages prices went up by 5.2 percent, and housing, water, electricity, gas and other fuels also rose 1.1 percent
The steepest increase was in the prices of oil and gas products, registering a growth of 44.1 percent, with non-oil products rising 3.8 percent
Riyadh, Jeddah among world’s least expensive cities
Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out...Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out the cost of living in other cities of the Kingdom
Affordability and stability of Saudi cities make them attractive destinations for both locals and expatriates seeking a cost-effective living environment, TRENDS points out
Saudi Arabia aims for 30% marine reserves by 2030
Dr Faqeeha commends the G20's support for the global platform CORDAP (Collaborative Action on Coral Reefs and People), which was...Saudi Arabia is collaborating with regional countries and the International Maritime Organization to establish the Red Sea as a special marine zone by 2025
The Kingdom has implemented a circular strategy for the carbon economy and introduced a new waste management law to increase recycling rates
Global exports propel Saudi date industry to the top
The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$...The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$ 340 million
Saudi Arabia's annual production of dates surpasses 1.6 million tons, with exports increasing by 121 percent from 2016 until 2022
Egypt energy-saving measures evoke satirical reaction among citizens
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...After 11 days of daily blackouts, Prime Minister Mostafa Madbouli ordered civil servants to work from home once a week.
He announced scheduled power outages at least through August, and proposed other solutions to Egypt's energy crisis.
UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...The UAE minister called upon G20 countries to fulfil their commitment to providing the pledged financial support for global climate initiatives.
She said that is only by collective action that the global community can achieve the worldwide emission reduction target.
Dubai Customs clears TIR carnet transactions worth US$38.7m
DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of...Goods shipped under cover of the internationally accepted customs transit document do not require inspection at border crossings while in transit.
It provides a financial guarantee to pay the suspended duties and taxes. The guarantee system is managed by the International Road Transport Union.
Fire at substation in Iraq sparks nationwide power outage
Baghdad, Iraq--A fire at an electricity substation in southern Iraq triggered a nationwide power outage Saturday, authorities said, just as demand peaks...In spite of the country's vast oil reserves, Iraq continues to suffer from frequent power outages with its power grid incapable of meeting peak demand
The electricity ministry said in a statement that the power grid experienced a total shutdown due to a fire that affected a transmission substation
