TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...Business Economy Energy
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...Economy
Jordan’s trade exchanges with ASEAN up by 42% last year
Amman, Jordan - Jordan's trade exchanges with the Association of Southeast Asian Nations (ASEAN) surged by 42% in 2022 compared... The kingdom's trade exchanges with ASEAN reached $1.8 billion in 2022, up from $1.3 billion in 2021
Jordan's national exports to ASEAN countries amounted to $279 million and re-exports were valued at $17,000
UAE presents labor laws to UN Human Rights Council in Geneva
DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and...Several UAE federal, local government entities and civil society organizations were part of the delegation.
The new labor legislations include provisions that prohibit discrimination on all grounds as defined in international conventions.
Saudi Arabia and Iran discuss ‘opportunities to develop and strengthen’ ties
Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a...The Iranian minister described the expansion of the Saudi-Iranian relations as a "win-win" development
The two ministers met in Jeddah on the sidelines of the Islamic Development Bank Group's conference
RAK Ceramics’ profit soars in Q1
The profit rose to US$22mn on the back of higher revenue.The company's revenue soared to $240 million, a jump of 12.7 percent, and EBITDA went up to $43 million, an increase of 21 percent
It is looking to make additions to its capacity for tiles, sanitaryware and tableware division in the United Arab Emirates
G7 launching partnership scheme to diversify supply chains
Niigata, Japan - The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group...The ministers did not directly mention efforts to reduce reliance on trade with China or Russia as motivation for the new framework
In a joint statement, they said they hoped to launch the partnership in collaboration with the World Bank "by the end of this year at the latest."
DP World’s JAFZA looks to boost UAE-India trade to US$100bn
Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza...Trade between the UAE and India has shot up to $84 billion in 2022, from $68 billion the year before, recording a 23 percent jump
Indian companies are the second largest partners in the free zone in terms of trade volume and fourth in terms of trade value
ADNOC Distribution’s profit up
Its profit vaulted to US$150 million in Q1 of 2023The company said the profit resulted from strong performance and improvement in efficiency measures across all operations
It acquired a 50 percent stake in TotalEnergies Marketing in Egypt, and plans to open the first service station in Cairo in Q2
Luxury tourism in Gulf countries set to reach $11bn this year
GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions...Strategic location, modern attractions and eco-friendly initiatives are driving tourism growth in the region, which is actively developing infrastructure to propel the sector.
UAE leads global rankings in travel importance and luxury travel preferences, while Saudi Arabia's tourism sees tremendous growth with diverse attractions and ongoing projects
Dubai Chambers briefs EU Missions about UAE Corporate Tax Law
DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with...A workshop on Corporate Tax Law saw the participation of 13 officials from EU embassies and attaché offices in the UAE.
Dubai Chambers said the workshop will bolster the strong trade and business relations with the European markets.
Iraq awaits Turkey’s response to resume Kurdish oil exports
The Kurdish regional government had for years earned billions of dollars in revenues exporting crude oil to Turkey without the...Iraq's Oil Minister Hayan Abdel Ghani had on Thursday said that crude exports from the Kurdish region through the Turkish port of Ceyhan would resume Saturday.
But on Friday the Kurdish natural resources minister, Kamal Mohamed, told a Kurdish television channel that the resumption of exports was still awaiting approval from Ankara.
