Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....Economy
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...Business Economy
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
Ukraine grain deal extended for two months: Erdogan
Erdogan made the announcement one day before it had been due to expire, scoring a diplomatic coup ahead of a...Erdogan said Russia had agreed not to block ships from leaving two Ukrainian harbours, expressing hope that the deal would be "beneficial for all the parties"
NATO member Turkey has worked to maintain good ties between Russia and Ukraine, hosting two but unsuccessful rounds of peace talks between the warring sides
Money laundering and terrorism financing pose threat to world: UAE
The three-day conference in Abu Dhabi has brought together officials from around the world to discuss the menace of money...The official emphasized the importance of cooperation among nations to combat money launder and terrorism financing
The UAE has set up specialist department and has signed a slew of agreements to coordinate with many countries to fight money laundering
UAE sees 20 percent decrease in nitrogen oxide emissions: study
Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to...The findings of the study corresponds with the "National Air Quality Agenda 2031," introduced by the Ministry of Climate Change and Environment
The UAE aims to lower pollution, improve air quality, foster a safe and healthy environment, and enhance the overall quality of life
UN wants $100 billion to boost digitalization in poor nations
"Tech is at the top of the global agenda, but the benefits of digital technology are still out of reach...Around 2.7 billion people around the world were offline in 2022, according to the International Telecommunications Union, the UN's telecoms agency.
"The digital connectivity divide separating the least developed countries from the rest of the world is widening," the ITU said.
Europe, UK edge closer to signing deal on financial services
Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area...The European Commission, the EU's executive arm, on Wednesday took the first step by adopting a draft agreement.
The EU said the agreement does not deal with the access of UK-based companies to the single market or vice versa.
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real...The economies of the Gulf Cooperation Council (GCC) are projected to grow by 2.5 percent in 2023 and 3.2 percent in 2024.
A report released by the bank also said that the direct medical costs of seven major non-communicable diseases in GCC region was around $16.7 billion in 2019 alone.
DEWA and Huawei to develop new technologies in electricity, water sectors
Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity...The collaboration between the two entities has resulted in progress in digital transformation, exchanging the best international solutions, experiences and practices
Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted the progress of the joint projects between the two sides, including Moro’s green data centres
Beyon announces ‘the biggest ever investment’ in digital infrastructure in Bahrain
Manama, Bahrain - Beyon has announced a major investment of more than $250 million in state-of-the-art digital infrastructure in Bahrain...Batelco, part of the Beyon group, has joined the Southeast Asia - Middle East - Western Europe consortium, which is building a 21,700 km-long undersea cable system
The new subsea cable will create a layer of network diversity and resilience for the heavily used routes connecting the Middle East with Southeast Asia and Western Europe
