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
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...Economy
Net profit of QSE listed companies dips by 10% in Q1
Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion...The industries sector saw the biggest decline of 44.18 percent, resulting in a net profit of $656.22 million
The insurance sector recorded the highest growth with a 79 percent increase, generating a net profit of $102.94 million
Sharjah’s GDP grows 5.2% to $37bn in 2022
Sharjah, UAE - Sharjah's GDP has grown by 5.2 percen to AED 136.9 billion ($37.05 billion) compared to AED 130.1...The non-oil sector has reported a 5.2 percent increase, bringing the total to AED 133.4 billion (36.08 billion) in 2022
'Wholesale and retail trade; repair of motor vehicles and motorcycles' achieved the highest growth in the emirate's GDP
Arab Federation for Digital Economy signs deal with Union of Arab Chambers
Abu Dhabi, UAE-- Designed to achieve a common Arab vision for the digital economy, the Arab Federation for Digital Economy...The agreement is designed to bolster the Arab digital economy, strengthen intra-Arab trade, and increase the reality of Arab trade exchange
Rated as the fastest growing market in the world, the e-commerce market in the MENA region was valued at $49 billion at the end of 2022
Abu Dhabi GDP grew by 9.3 percent in 2022, says SCAD in estimates report
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report...Abu Dhabi's impressive growth across its diverse sectors during 2022 is attributed to its robust economic framework.
As per the estimates, in Q4 2022, Abu Dhabi achieved real GDP growth of 5.9 percent worth US$75 billion.
‘US needs $30bn to seal 14,000 unplugged offshore oil, gas wells’
The cost to secure thousands of inactive oil and gas wells in the US Gulf of Mexico could top $30...The authors of the study said both taxpayers and fossil fuel giants would likely be liable for the costs of plugging and abandoning the wells.
The process includes encasing the opening in concrete to stop oil and the potent greenhouse gas methane from leaking out.
ADFD finances US$30m sustainable water project in Mauritania
ABU DHABI, UAE -Â Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Mauritania to...The total value of the project, financed by several Arab and international financing institutions, is US$320 million.
The main objective of the project is to provide potable water to around 92 cities and villages in Mauritania.
UAE Federal Treasury Sukuk Program appoints ADIB as primary dealer
ABU DHABI, Â UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary...This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF).
The program aims to issue Sukuk through Shariah-compliant structures as approved by the Higher Shari’ah Authority.
Natural capital, conservation should be priority for private sector in region
DUBAI, UAE - The private sector and financial institutions in the Middle East should enhance reporting by including information about how...The report indicates that almost half of the Middle East's GDP is either highly or moderately dependent on the environment.
Middle East faces a number of environmental challenges specific to the region, including scarce water resources and desertification.
Iran’s annual trade with BRICS rises by 14% to $38.4bn
Tehran, Iran – Iran’s trade with BRICS member states reached 47.99 million tons worth $38.43 billion in fiscal 2022-23.In fiscal...In fiscal 2022–23, Iran's trade with the BRICS nations—Brazil, Russia, India, China, and South Africa—amounted to 47.99 million tonnes worth $38.43 billion
China was Iran’s main trade partner among BRICS members with 35.55 million tons (up 8.71 percent) worth $30.32 billion (up 37.41 percent) of exchanges
Jordan’s food companies to show off products at Canada fair
Amman, Jordan-- With an eye on boosting its exports to North America, a range of companies from Jordan will showcase...Jordan Exporters Association in a statement said that the kingdom's enterprises will network with customers from Canada and other countries at the fair
JEA President Ahmed Khodari said industrial exports play a vital role in advancing the country's economy by boosting output and growing existing investments
