SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...Economy
Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...Economy Opinion
UAE-India partnership a driver for economic growth: Al Marri
Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the...The minister said that the two countries were speeding up efforts to develop both economies and adopt plans that support vision for expansion
Al Marri noted that the UAE is interested to support Indian government's plan to lift the country's GDP to US$5 trillion by the year 2025
Trade pacts propel Jordan’s trade to $23bn with partner nations
Amman, Jordan - Jordan's trade exchange with countries it has free trade agreements with accounted for a significant portion of...The country joined the Greater Arab Free Trade Area in 1978, solidifying its economic ties within the region
The free trade agreement with the United States came into force in 2001, followed by the Jordanian-European Partnership in 2002
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
The company’s products are expected to help nearly one million people give up smoking by 2032.
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.
UAE issues transitional rules for Corporate Tax
The goal is to simplify establishing the initial balance sheet, guaranteeing a fair method for managing assets and liabilities preceding...The aim is to ease the process of determining the opening balance sheet, ensuring a fair and transparent approach for assets and liabilities
The decision applies to certain assets and liabilities, such as immovable property, intangible assets, financial assets, and financial liabilities
Saudi Arabia, UK ink pact to develop critical minerals supply chains
Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals...The agreement marks a significant step in the global endeavor to increase the supply of critical minerals
Critical minerals are vital in producing various technologies, including electric vehicles, wind turbines, and solar panels
Women’s role crucial to future tech development
“As we sit at the crossroads of the very future of humanity as it relates to technology, female influence, and...Sheikha Bodour Al Qasimi, President of AUS and SRTI Park, highlights the underrepresentation of women in the tech sector and urges for a rapid change
She argues that providing women with leadership opportunities and including their perspectives in decision-making could lead to a better technology roadmap
Crypto experts leave US over obstructive regulations
DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector,...Regulators in the US have taken a tough line because of fears of money laundering and scams such as the FTX collapse.
Other countries had been "very constructive" over regulation and attracted "a huge amount of talent," said Smith, CEO of blockchain.com
Brazilian group seeks trade, investment boost with UAE
Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking...During the forum, the two sides discussed joint efforts and investment opportunities available in both cities.
The delegation comprised representatives from companies operating in agriculture, food, cosmetics, and furnishings sectors.
