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...Economy
Despite oil riches, Libyans hit by plummeting purchasing power
Libya earns around $20 billion per year in net revenues from oil and gas exports, which accounts for around 95...Economy
Volvo Cars 2022 net profit $1.6bn
Revenue climbed by 17 percent to a record US$31.8 billion.Electric cars accounted for 11 percent of sales last year, compared to four percent in 2021.
Volvo Cars accelerated towards the aim of becoming a fully electric car company by the end of the decade and climate neutral by 2040.
ArcelorMittal 2022 profit $9.3bn
Profit was affected as demand for steel fell and production hit.ArcelorMittal took a $1 billion hit after suspending production at its Ukrainian factory in Kryvyi Rig.
The conflict "resulted in low levels of production, sales and income and created significant uncertainty about the timing and ability" of operations.
Saudi Industrial Production Index rises by 7.3 percent in Dec 2022
Riyadh, Saudi Arabia-- Saudi Arabia's industrial production index (IPI) for December 2022 witnessed a 7.3 percent increase compared to the...A surge in mining, quarrying, and manufacturing activity helped the growth in IPI.
Manufacturing activity also increased by 18.5 percent in December 2022 compared to the same period last year.
Foot-and-mouth variant hits Iraq buffaloes, threatening livelihoods
This strain - never before recorded in Iraq - is resistant to the vaccines normally used in the country, leaving...The severe, highly contagious livestock disease has plagued Iraq for decades, but this year's outbreak has already had a devastating impact
Laboratory tests have identified the SAT2 variant of the viral disease, the United Nations' Food and Agriculture Organization (FAO) said
Innovations chart Dubai’s path to sustainable future
"An effective partnership model between the public and private sector in Dubai has helped transform innovation into a culture that...Dubai has become the most inspiring example globally for institutionalising the innovation process, says Abdulla Mohammed Al Basti, Secretary-General The Executive Council of Dubai
An effective partnership model between the public and private sector in Dubai has helped transform innovation into a culture that has enhanced the UAE’s competitiveness, he adds.
Moody’s lowers Egypt rating to B3, changes outlook to stable
Cairo, Egypt-- Moody's has lowered Egypt's sovereign rating by one notch to B3 from B2 on Tuesday, citing the country's...The ratings agency changed its outlook for Egypt to stable from negative
The country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months
International dental conference kicks off in Dubai
Dubai, UAE-- The three-day long dental conference has got underway in Dubai, bringing together leading experts in dentistry and oral...Some 66,000 participants from 155 countries are expected to attend AEEDC Dubai 2023
More than 130 Korean companies are participating in the event, occupying 3,000 sqm of exhibit space
Dubai’s VARA brings out ‘specialized regulations’ for virtual assets
Dubia, UAE--Dubai’s Virtual Asset Regulatory Authority (VARA), has issued what it calls as Virtual Assets and Related Activities Regulations 2023....The VA Framework is structurally designed to offer regulatory certainty – allowing the market to have greater clarity on the expected level of operator responsibility
The custom-designed construct reflects UAE’s commitment to building responsible safeguards, and Dubai’s confidence in delivering a progressive VA ecosystem
Integrate Middle East 2023 launches in Dubai on May 16
The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre...The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre from May 16 to 18
Visitors will be able to explore products and services from the entire pro AV technology provider universe, ranging from world-class command and control centres
UAE, Saudi Arabia pledge quake relief to Syria, Turkey
Saudi Arabia on Tuesday ordered the King Salman Humanitarian Aid and Relief Centre "to provide health, shelter, food and logistical...The oil-rich UAE - which had already pledged some $13.6 million to Syria - is spearheading regional relief efforts, having dispatched planes to both countries with relief items
Fellow Gulf country Saudi Arabia, which severed diplomatic ties with Syrian President Bashar al-Assad's regime in 2012, also said it would provide assistance
