Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...Business Economy
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...Economy Tech & Media
World economy faces more pain in 2023 after a gloomy year
Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency...Many countries are now grappling with cost-of-living crises because wages are not keeping up with inflation
Consumer prices in the Group of 20 developed and emerging nations are expected to reach eight percent in the fourth quarter
Jordan approves executive program of Economic Modernization Vision
The executive program includes a specific time frame for implementation, clear indicators for measuring performance, and an electronic system to...The executive program includes a specific time frame for implementation, clear indicators for measuring performance, and an electronic system to follow up on achievement
Prime Minister Bisher Khasawneh directed all relevant ministries and institutions to start implementing the executive program within the timelines set forth therein
Saudi investments in Egypt grow to US$6.12 billion
Riyadh, Saudi Arabia--Saudi Arabia has invested some $6.12 billion in more than 6,000 projects in Egypt, according to the Minister...The trade minister announced the investment figure during his visit to Riyadh on Dec. 25, where he met Saudi ministers and senior officials to boost bilateral ties
The kingdom is the top exporter among Arab nations with exports worth $6.4 billion, followed by Kuwait, the UAE and Oman
Jobs for Emiratis: UAE pushes work for own citizens
The UAE - like other oil-rich Arab Gulf states - has often used the public sector as an employment vehicle...Just 12 percent of the country's more than nine million residents are UAE nationals, with over 90 percent of private sector jobs taken by foreigners
The government is now strong-arming private firms into hiring local talent, with the aim of ensuring Emiratis make up 10 percent of the private sector workforce by 2026
Investigators from Europe to visit Lebanon in central bank chief probe
A team of investigators from Europe will visit Lebanon next month to probe into the wealth of central bank governor...The visit aims to conduct investigations into financial affairs linked to Salameh
A Lebanese prosecutor probing Salameh on suspicion of financial misconduct requested charges be issued against him based on preliminary investigative findings
Tunisia electoral board threatens media rights: rights groups
In a joint statement on Tuesday, 28 organisations said ISIE had "targeted freedom of expression to the point where it...Last week, the ISIE elections authority filed 24 legal complaints against media organisations and bloggers in the North African nation
Tunisian and foreign rights groups have warned that his actions threaten the only democracy to have emerged from the Arab Spring uprisings
15 MoUs in several sectors signed at Saudi-Japan Investment Forum
Riyadh, Saudi Arabia - As many as 15 memorandums of understanding were signed between Saudi Arabia and Japan in several...The forum highlighted the investment opportunities to strengthen the investment partnership between the two countries in light of Saudi-Japan Vision 2030.
It also reviewed opportunities to expand the investment partnership between the two countries in a number of the strategic sectors.
Iraq Prime Minister summons central bank governor as currency slides
One US dollar traded at 1,580 Iraqi dinars on the street Tuesday, against the central bank rate of 1,470 dinars,...The central bank has blamed the slump on "temporary pressures" sparked by the "adoption of new mechanisms to protect the banking sector, customers, and the financial system".
Iraq's Association of Private Banks said the rate had risen as a result of changes to the "mechanism" of foreign currency sales due to international requirements.
Sustainable digital shift in GCC need of the hour
Sustainability remains key focus as the UAE and Saudi Arabia speed up digitalization, which has been the fundamental pillar of...Gartner expects that by 2025, 50 percent of chief information officers (CIOs) will have performance metrics tied to the sustainability of the IT organization.
In the Arab Gulf, national economic visions aimed at alleviating petrochemical dependence have put renewable energy sources front and center.
UAE announces inclusion of Creative Zone in NextGenFDI initiative
ABU DHABI, UAE - The Ministry of Economy has announced that Creative Zone, one of the UAE's largest consulting and...The NextGenFDI program, which was launched in July 2022, aims to attract digitally-advanced companies to the UAE.
NextGenFDI includes fast business licensing, group visa issuance, fast access to banking facilities, as well as access to educational and cloud services.
