Regulated dollar transactions on the rise in Iraq, says central bank
With dollars dominating the country's economy, Baghdad has imposed a series of restrictions on the use of American greenbacks domestically....Economy
UAE’s overseas investments surpass $2.5trn mark
Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...Economy
Thousands flee homes in western Canada as wildfires spread
Fanned by strong winds wildfires flared across Alberta in the Canadian province, forcing 25,000 people to flee their homes as...Canada in recent past has been affected by extreme weather, the frequency of which has soared owing to global warming
The declaration of the state of emergency gives the local government more powers to deal with extreme situations and unlock emergency funds
Iran reports 32% increase in wheat output in April and May
Tehran, Iran--Iran has reported a large increase in its purchases of domestically-grown wheat in the months of April and May.Saeid...The country's southwestern province of Khuzestan accounted for 623,000 mt of wheat supply delivered to GTC silos during the months of April and May
The Islamic Republic purchases a big chunk of wheat from growers in the country under a program that offers them favorable prices and transportation
Jordan-Iraq business forum to begin in June, seek deeper trade ties
Amman, Jordan-- Seeking to widen its economic and trade ties with Jordan, the Iraqi Business Council (IBC) will organize the...The forum will focus on sectors such as energy, mining, construction, IT, real estate development, finance, telecom, and industry
Both countries seek to promote investment in several fields, establish joint partnerships, and enhance trade and investment exchange
Amman Chamber exports rises to US$565m in January- March 2023
AMMAN, JORDAN Â -Â The Amman Chamber of Commerce (ACC)'s export of goods and commodities to Arab and other countries increased...Jordanian exports to Iraq was of US$217 million, to Switzerland at about US$103 million in January- March 2023.
Jordanian exports to the UAE was about US$59 million, Egypt at US$42 million in January- March 2023.
Saudi Arabia and Switzerland look to boost ties in industrial, mining sectors
Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial...They discussed boosting of ties in industry and mining sectors and how they can contribute to diversifying the economic base
The two countries continue to have strong ties in petrochemicals, construction materials, medicines, consumer products, manufacturing of precious metals, and jewelry
Bank of Sharjah to boost capital
The US$218mn capital infusion will foster bank's growth.With the infusion, Sharjah Asset Management, the investment arm of the Sharjah government, will be the main beneficiary, raising its stake in the bank to 40% from 17.16%
The chairman of the bank said total capital of the bank now stands at US$816 million, bolstering its financial position and increasing its ability to pursue new investments
UAE is on track to become global hybrid working hub: report
Dubai, UAE - The UAE is on track to become a global hybrid working hub, a new report by Workspace...98 percent of UAE businesses reveal that they would invest in hybrid workplace technology by 2024, compared to 89 percent globally
Employers are adopting a hybrid work system that is effective and efficient, with key steps being taken to create an effective hybrid strategy
UAE and WHO dispatch 30 tonnes of medical supplies to Sudan
Dubai, UAE--The United Arab Emirates (UAE) and the World Health Organisation (WHO) have dispatched 30 tonnes of urgent medical supplies...The aid shipment estimated to be around US$444,000 is the first that WHO has dispatched by air to Sudan since the civil war erupted
The UAE's aid delivery is focused on providing for the most vulnerable groups affected by the situation in Sudan, especially the sick, children, the elderly, and women
Sharjah exhibits futuristic tourism technologies at ATM 2023
Sharjah, UAE-- Sharjah showcased its technology-enabled approach to the tourism industry at the Arabian Travel Market (ATM) 2023, highlighting the...The emirate displayed cutting-edge technologies and groundbreaking concepts, offering a glimpse into the emirate's tourist destinations
A robot known as "Shj Al Guide" offered information, pictures, and promotional videos of events, activities, and tourist attractions in the emirate
Improving African trade integration key to boosting GDP: IMF
Washington, United States - Improving trade relations between African countries could provide a major boost to economic output (GDP) across the...The IMF report predicted its recommendations would boost real per capita output in the median African country by "more than 10 percent."
It said such change would require reforms in the trade environment of Africa, which includes changes in transportation, border infrastructure.
