Saudi Arabia takes the lead in global road connectivity rankings: minister
Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...Economy
UAE vital to enhancing global economic growth: Officials
Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing...Economy
UAE committed to promote sustainability in all sectors
“The UAE will strive to make COP28 one of solidarity and action. It will listen, engage, and build partnerships with...The declaration of 2023 as the ‘Year of Sustainability’ reflects the UAE’s commitment to promote sustainability in all sectors, says says Special Envoy for Climate Change
The move will pave the way for the country's efforts to accelerate global climate action ahead of COP28, adds Dr Sultan bin Ahmed Al Jaber
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region...Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights
Successful hosting of international events in 2022 such as Expo Dubai in the UAE, the World Cup in Qatar, and COP27 in Egypt, also contributed to GCC's strong performance
Iran vows to address high inflation, currency devaluation
Iran's economy has been subject to increasing pressure with fresh sanctions imposed by Western countries over the authorities response to...Addressing MPs, Raisi tried to reassure Iranians over the economy which faces a serious crisis due primarily to US sanctions.
At the end of December, the governor of the central bank resigned after the rial lost around 30 percent of its value in two months.
CBUAE, Egyptian Banking Institute discuss training, cooperation
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under...CBUAE and Egyptian Banking Institute reviewed the prospects to enhance cooperation and exchange information.
They also discussed supporting professional capabilities-building and expertise development.
Sharjah Consultative Council approves DVA policy recommendations
SHARJAH, UAE - The Sharjah Consultative Council (SCC) has approved its recommendations regarding the Districts and Villages Affairs Department (DVA)...The recommendations touched on the importance of providing social and psychological specialists in the suburb councils.
They also called for expanding the establishment of a suburb festival to include various cities and regions of Sharjah.
Investments in Jordan industrial estates rise 19 percent in 2022
AMMAN, JORDAN - Investments in industrial estates in 2022 hit US$4.2 billion (JD3 billion), an increase of 19 percent compared...Jordan Industrial Estates Company said that 27 of the new investments were in the service sector, with a growth rate of 26 percent.
The remaining 147 new investments were in the industrial sector, with a growth rate of 7 percent over the previous year, JIEC said.
QDB unveils green financing
It will target Qatar-based small and medium enterprises.QDB Acting CEO said that supporting sustainability through this and other programs is part of the bank's strategy to support environmentally friendly projects
QDB will finance 80 percent of a project's total cost for companies that will produce final green products with a positive and sustainable environmental impact
Iraq’s Gulf Cup victory marred by stampede, logistical slips
Baghdad, Iraq--Iraq saw the Gulf Cup as a chance to rehabilitate its image after a years-long football hosting ban, but a...The stampede outside a football stadium ahead of the cup final in the southern city of Basra killed one person and injured dozens
The Gulf Cup was an opportunity to show that Iraq could safely host a tournament, as the country seeks to rebuild after decades of conflict
Southeast Asia may re-take leading growth position
Advanced economies are expected to slow down further this year, while ASEAN-6 economies are more resilient to the current macro...Pre-pandemic, Southeast Asia was one of the most dynamic economic regions in the world, prompting opportunity and growth at a significant scale for decades, says a QNB report
Advanced economies may slow down further this year, while ASEAN-6 economies are more resilient to the current macro scenario and should present robust, mid-single digit growth
Fearing a decline in demand amidst global slowdown, Kuwait may raise exports of oil derivatives to Europe
The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute...The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out
Real GDP growth is expected to slow to 2.5% in 2023 if average crude oil output stabilizes, while real growth outside hydrocarbon sector is projected to stabilize at 3.8%
