Economy - TRENDS MENA

Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000...

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."
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
Its profit vaulted to US$150 million in Q1 of 2023
The 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
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, 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.
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.
DUBAI, UAE - The UAE has topped several global labor market indices issued by international entities and institutions in a...
These indices include lack of labor disputes, low cost of severance compensation for workers, and working hours.
The UAE also stood out for the low cost of severance compensation in the Global Innovation Index 2022.
The continent has been racing to produce more electric vehicles as part of its green transition, with the clock ticking...
Sweden's Northvolt will build a multi-billion-euro plant in northern Germany, which will supply around one million electric vehicles with batteries a year.
In France meanwhile, Taiwanese battery maker ProLogium announced it will invest 5.2 billion euros ($5.7 billion) in building a new factory in Dunkirk.
Firm said the profit was driven by higher prices for policies.
The unit's strong performance helped offset lower revenues at its life and health division and its asset management arm.
Allianz confirmed that full-year operating profits remained stable at US$15.4 billion, "plus or minus US$1.08 billion".
The Black Sea Grain Initiative, in place since July after diplomacy by the United Nations and Turkey, allows Ukraine grain...
NATO member Turkey, which has good ties with Russia and Ukraine, has pushed both countries to resume peace talks after negotiations broke down last year
Ankara helped the United Nations broker the grain deal last July, helping ease a spike in global food prices caused by Russia's invasion