UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...Business Economy Geostrategy Global
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...Business Economy Geostrategy Global
US unveils $1bn initiative for African women’s empowerment
"Advancing the economic status of women and girls is not only a matter of human rights, justice, and fairness --...The initiative, launched by Harris, is a mix of US government funding and private sector commitments.
It includes a $60 million fund for women in the digital economy and nearly $400 million from the private sector.
After Xi-brokered Iran deal, Saudi Arabia to join China led security bloc
Riyadh's move to partner with the bloc comes less than three weeks after the unveiling of a landmark China-brokered reconciliation...The Shanghai Cooperation Organization was established in 2001 as a political, economic and security organization to rival Western institutions
Besides China, its eight members include India, Pakistan and Russia, as well as four central Asian countries - Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan
New national carrier part of Saudi bid to become a business, tourism magnet
This month Crown Prince Mohammed bin Salman, unveiled Riyadh Air, the new airline which is intended to transform the capital...Apart from Riyadh Air, Saudi Arabia is also launching NEOM Airlines, to be based in the planned $500 billion futuristic megacity of the same name
The trade group Airports Council International predicts the region's airports will see 1.1 billion passengers by 2040, up from 405 million in 2019
Global Carbon Council, EGX sign MoU to launch voluntary carbon market
Doha, Qatar--The Doha-based Global Carbon Council (GCC) and Egyptian Exchange (EGX) have signed a memorandum of understanding (MoU) to launch...EGX will list carbon credits issued by GCC, widening offerings to investors looking for a diversified portfolio of CCs
They will also collaborate on development initiatives aimed at improving the efficacy of carbon offsetting mechanisms
UAE okays 24 initiatives to double re-export industry by 100%
Abu Dhabi, UAE--The UAE government has endorsed 24 national initiatives to double the country’s re-export industry by 100 per cent...The cabinet approved the hosting of the IUCN World Conservation Congress 2025, which is set to draw 10,000 environmental experts and specialists from 160 countries
It will demonstrate the country's commitment to sustainable economic development and preserving the environment for future generations
Regular, medium-risk adults don’t need extra Covid jabs: WHO
The WHO's vaccine experts are no longer recommending additional Covid-19 vaccine booster doses for regular, medium-risk adults because the benefit...The updated recommendations were issued after the UN health agency's Strategic Advisory Group of Experts on Immunisation had its regular biannual meeting
The additional booster shots are recommended by SAGE after the first one only for people at the highest risk of developing severe Covid-19 disease
UAE, Costa Rica start talks to form economic partnership agreement
UAE minister said that the emirates will continue its efforts to build partnerships with strategic global markets under the country’s...The trade and investment exchanges between the two countries continue to grow as the non-oil trade reached $58.7 million in 2022
The UAE’s investments in Costa Rica span sectors such as IT, tourism, retail, advertising, media, real estate, renewable energy, air transport, and logistics.
Bahrain posts highest real GDP growth in nearly a decade
The kingdom witnessed 6.2 percent non-oil real GDP growth, the highest since 2012 and higher than the 5 percent annual...The kingdom also reported a drop in deficit to GDP to -1.1 percent, a drop in debt to GDP to 100 percent and a primary surplus of 3.3 percent.
The Economic Recovery Plan is one of Bahrain’s biggest programs, with over $30 billion catalyzed for investment and reforms made to improve ease of doing business.
Egyptians cling to Ramadan charity as inflation soars
Families have buckled under the weight of inflation, which hit 32.9 percent in February as Egyptians tried to fill their...For many families, Ramadan boxes of food staples or daily charity iftar meals, organised in droves across the country are their only chance to eat meat or chicken
Before Ramadan began, the charities upon which tens of millions of Egyptians depend raised the alarm that they were struggling to meet more people's needs
Binance, crypto firm, hit with US charges for violating trade rules
The charge sheet accuses Binance of failing to uphold standards that are required of a company operating as a derivatives...CFTC chairman said the charges against Binance were part of a campaign to find and stop misconduct in the volatile and risky digital asset market
The allegations targeted Binance founder Changpeng Zhao, also known by his Twitter handle CZ, and three entities that make up his crypto empire
