‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...Business Economy
WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...Economy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...Iraq was the biggest importer of Iranian agricultural and food products worth US$1.7 billion.
The UAE was the second largest importer of Iranian agricultural and food products worth $675 million
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...The fourth quarter 2023 results and the annual results for the same year have been reached at by using the new methodology.
Saudi Arabia is the first country in the Gulf and Arab regions, and among the first G20 countries, to implement the chain-linking methodology.
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...Zhong said renewable energy, wind power, and green hydrogen production could achieve zero carbon dioxide emissions from the source
The annual growth rate, as per the International Renewable Energy Agency, of global hydrogen trade is expected to reach 8 percent by 2050
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central mosque in Lagos said they were barely able to provide for their families
The government brought in reforms last year that have had a devastating effect on citizens of Africa's biggest economy, where around half the population is Muslim
Tunisian economic crisis mutes build-up to Ramadan
Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and...Economist Ridha Chkoundali says Tunisia is "experiencing a period of stagflation, which means a decline in growth and a rise in inflation"
Tunisian banks are being asked by the state to finance the country's debt amounting to 80 percent of GDP, undermining their ability to lend to the private sector
Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...UAE's Minister emphasizes the need for government entities to prepare for AI-driven changes.
Development of AI-related legislation will facilitate technology integration into government services.
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential for their operations
The items encompass raw materials, semi-finished materials, finished materials, packaging materials, machinery, equipment, and spare parts required for industrial production
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...Dubai witnessed an 18 percent increase in endowment assets compared to the previous year.
The Crown Prince was briefed on key developments in the field of endowment work in Dubai.
Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...Qatar's finance minister said the agreement would contribute to supporting international standards of transparency through the exchange of information
It will enable both countries to come down hard on tax evasion, ensure justice and equality in the treatment of individuals, in addition to enhancing trade cooperation
