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
GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...Economy Energy
India Jewelry Exposition Center launches in Dubai
DUBAI, UAE - The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX)...India Jewelry Exposition Center will provide a platform for the country's MSMEs to showcase their products to the Middle East market.
The move is a reflection of the Middle East's importance to India's gem and jewelry sector which accounts for 30 percent of its exports.
WEF meet to shed light on global economic transformation
Geneva, Switzerland - The 14th World Economic Forum (WEF) Annual Meeting of the New Champions is scheduled to take place...The meeting will tackle key issues concerning global companies and create and strengthen partnerships focusing on generating a positive impact.
More than 1,500 leaders from business, government, and other global firms, along with innovators and academics, are expected to participate.
Syria extends humanitarian aid access via two border crossings: UN
Following international pressure, Damascus agreed to let the UN use the Bab al-Salama and Al-Rai crossings, operated by Turkish-backed rebels,...Syrians affected by the February 6 earthquake that killed more than 55,000 people in Syria and Turkey have been relying on two border crossings for vital humanitarian deliveries
The United Nations estimated earlier this week that Syria needs almost $15 billion to recover from the quake, and it put the total cost of damage and losses at almost $9 billion
Qatar Chamber chairman calls for ‘unified’ Gulf policy on purchase of food, medicine
Muscat, Oman--Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al-Thani has called for a unified policy for purchase of food...The chairman was speaking at a meeting between GCC ministers of commerce and heads of unions and chambers of commerce and industry in Muscat
He said the region has been coping with a number of challenges posed by the Covid-19 pandemic and the ongoing war between Russia and Ukraine
IsDB signs financing agreements worth US$5.4bn with 24 member countries
Jeddah, Saudi Arabia--The Islamic Development Bank (IsDB) Group has signed 77 financing agreements worth $5.4 billion with 24 member countries...The 77 agreements look to develop projects in sectors such as health, agriculture, food security, transport, energy, education, and humanitarian relief
President of the IsDB Group said the discussion with the member states covered a range of development issues and the future of the IsDB Group
Iran’s trade with six Arab countries climbs up to US$35bn in 2022-2023
Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to...Iran traded 58.25 million tons of goods worth $35.11 billion with Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia during the fiscal 2022-2023
The Islamic Republic's top business partner among the Arab countries was the UAE, trading 24.35 million tons of goods worth $24.16 billion
EU’s imports in high-tech products worth $524bn in 2022
BRUSSELS, BELGIUM - The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22...In 2022, over half of the EU’s high-tech imports from non-EU countries came from China (US$199 billion) and the United States (US$99 billion).
The most significant category of high-tech products imported from non-EU countries was electronics-telecommunications (US$219 billion).
EDB review ways to boost SMEs financial inclusion at 2-day event
ABU DHABI, UAE - Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting,...The Bank offers financing solutions with flexible terms for industrial companies and projects with high developmental impact.
Financing options include capex financing, advanced technology adoption financing, renewable and energy efficiency financing.
Oman, UAE to boost rail logistics with new Vale deal
ABU DHABI, UAE- Oman and Etihad Rail Company signed an agreement with Vale, one of the world’s largest mining companies,...The deal says both parties will work to develop integrated logistics solutions that connect Vale’s industrial complex in Sohar Port and Freezone.
Ahmed Al Musawa Al Hashemi, CEO of the Oman and Etihad Rail Company, and Rogerio Nogueira, official at Vale signed the deal.
Shoemakers for Nike, Adidas to slash thousands of jobs
One of Vietnam's largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the...PouYuen Vietnam told local authorities it would lay off almost 6,000 workers with permanent contracts from the end of next month.
"This will be the biggest layoff since PouYuen started its operation in Ho Chi Minh City in 1996," the state media outlet said.
