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
Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...Economy
Qatar’s real GDP to grow at 2-2.5 percent in 2023-24: IMF
Dubai, UAE -- The International Monetary Fund expects Qatar's real GDP to grow by 2-2.5 percent in 2023-24 on robust...Medium-term growth is likely to rise to around 4–4.5 percent after the North Field expansion starts boosting LNG production.
It said that after very strong growth in 2022 boosted by the World Cup, the economy is expected to normalize in the near term while the outlook remains relatively favorable.
Ajman Chamber, Belgium Embassy discuss trade opportunities
AJMAN, UAE - Chairman of the Ajman Chamber of Commerce and Industry (ACCI) Abdullah Al Muwaiji discussed trade and investment...The meeting aimed to strengthen economic ties and promote Ajman as an attractive investment destination.
The discussions focused on bilateral economic, trade investment relations, tourism, industry, trade, education, health.
Digital literacy to boost UAE’s tech, AI revolution
The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative...The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative framework, says UAE Minister of State for AI
The UAE’s approach is multi-pronged, concentrating on skill development, nurturing digital competencies, encouraging innovation and cultivating entrepreneurship, he adds
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
IFZA, Zoho ink deal to enhance digital use in tax returns
DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with...Zoho One is a cloud-based platform that enables businesses to perform all their functions on a single interface, accessible from anywhere.
It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation of the Corporate Tax.
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Conflict zones in Middle East are not getting climate funds, say aid groups
DUBAI, UAE - Conflict-plagued countries in the Middle East are among the most vulnerable to climate change but are almost entirely...The UN ranks Iraq, recovering from decades of conflict, as one of five countries most impacted by effects of climate change including drought.
Syria and Yemen are also at heightened risk following years of war that has battered both the country's infrastructure.
UAE to showcase business opportunities at ‘Make it in the Emirates Forum’
Abu Dhabi, UAE -- The UAE has said that the second Make it in the Emirates Forum is an open...The second Make it in the Emirates Forum will showcase unique opportunities for entrepreneurship
The forum will also present financing solutions designed to attract more industrial investments
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
