Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...Economy
Saudi women’s unemployment drops to 13.7% by 4Q 2023
Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...Economy
‘Qatar’s economy is shining example of reforms’
The contribution of the non-oil sector to the growth of the economy is the strongest in the Gulf region, which...Qatar pledges 20 percent of its Special Drawing Rights to support countries with low growth and climate risks, says IMF Managing Director Kristalina Georgieva in Doha
Despite global economic slowdown predicted for 2023, Qatar's diversified economy is expected to outperform global growth rates, she adds during Qatar Economic Forum
Dubai records realty deals worth $1.38 billion in two days
Dubai, UAE -- Dubai's real estate market recorded real estate deals worth AED 5.1 billion ($1.38 billion) on Tuesday and...A total of 500 sales transactions worth AED1.21 billion were recorded on Wednesday, in addition to 103 mortgage deals totaling AED267.86 million.
On Tuesday, the market recorded 612 sales transactions worth AED2.51 billion, in addition to 126 mortgage deals of AED 613.53 million.
US debt ceiling talks ‘unnecessary’ for global economy: IMF chief
International markets have been unnerved by the battle between US President Joe Biden and opposition Republicans on US borrowing limits...But she added that the Washington drama was "unnecessary for a world economy that is in such high uncertainty".
Kristalina Georgieva told the Qatar Economic Forum that central banks must keep interest rates high to tame inflation but there should be improvement in 2024.
Tadawul-listed firms report 22% drop in first quarter net profit
Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of...Argaam reported the decline in net profit was due to a drop in Saudi Aramco’s first quarter earnings by more than 17 percent, as well as lower earnings of petrochemical companies.Â
The first-quarter results included SAR 5.87 billion one-off gains generated by Kingdom Holding Company (KHC) from selling half of its stake in Four Seasons Holding.
SEDD designates specific areas to run auto spare parts business
Sharjah, UAE--In order to create a competitive and diversified economy, the Sharjah Economic Development Department (SEDD) has reorganized many economic...The department said that trading in used auto spare parts in the emirate will be "reorganized" by amending the geographical areas permitted to practice the business
The reorganization is part of the strategey to promote economic growth and consolidating the emirate's posiiton as the key global trade and economic center
Israel passes budget with controversial cash for ultra-Orthodox
The Prime Minister Benjamin Netanyahu spent recent weeks cutting deals with his ultra-Orthodox and extreme-right coalition partners, to meet a...Thousands of Israelis marched through Jerusalem on Tuesday to protest the government's plans to hand more cash to the ultra-Orthodox minority
The 2023-2024 budget of Israel was ultimately passed early Wednesday with the support of all 64 coalition lawmakers in the 120-seat parliament
Al Dahra Group signs supply agreement with Estonian firm Golden Fields
Riga, Latvia--Al Dahra Group has signed a supply agreement with Golden Fields, an Estonian agriculture company specializing in the production...Under the terms of the deal Al Dahra Group will be supplied forage commodities by Golden Fields through its agreements in Estonia, Lithuania, Latvia and Finland
Al Dahra Group CEO Arnoud van den Berg said that owing to the partnership with Golden Fields, a promising new page has been turned for agriculture in the Baltic region
Qatar interested in developing Iraqi energy projects: Iraqi oil minister
Doha, Qatar-- Qatar is keen to obtain rights for oil and gas exploration in Iraq, according to Iraq's oil minister...The Iraqi minister exhorted international companies to take part in developing oil fields as "these investments play a big role in securing financial resources of Iraq"
Baghdad signed deals with UAE firm Crescent Petroleum and two Chinese companies in February this year for the development of six oil and gas fields
Al Mahhar to list on QSE
Some 207mn shares will be on QSE through direct listing.Firms wanting to list in the QEVM category need to have at least 20 non-funding shareholders who own no less than 10% of the company's capital upon listing
Upon listing the company's founders have permission to sell and trade no more than 30% of their shares, provided they retain 60% of their shares
Africa needs greater finance to battle climate change
“When it comes to renewable energy, only two percent of the US$3 trillion invested worldwide over the last twenty years...Dr Sultan bin Ahmed Al Jaber, the COP28 President-Designate, calls for a significant increase in public and private climate finance for Africa
Only 2% of global renewable energy investment has gone to Africa in the last two decades, highlighting the need to shift climate finance balance.
