Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh
Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters...Economy
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...Economy
Iraq football body launches ticket sales for Gulf Cup
The Gulf Cup brings together the hosts as well as Saudi Arabia, Kuwait, Qatar, Yemen, Bahrain, Oman and the United...The federation shared a link for the ticketing website on its Facebook page, with prices ranging from $10-$30
Iraq has scrapped visa fees for the football fans entering Iraq for the upcoming tournament
Reforms in tax and visa rules to drive UAE’s growth
The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023...The UAE is expected to become the fifth country within the Gulf Cooperation Council to have a corporate tax regime, say experts in the region
The new visa system offers 60 days visit visa, a five-year multi-entry tourist visa, a job exploration visa, a five-year green visa, and a 10-year golden visa
Saudi grants almost 450,000 metric tons of oil to Yemen
AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...The grant comes as part of the Kingdom's support for the Yemeni people under the directives of Saudi King Salman and the Crown Prince
It also comes as an affirmation of the Saudi Arabia's keenness to achieve security, stability and development for the Yemeni people
JPACO reviews key agricultural projects, efforts in 2022
AMMAN, JORDAN - Board of Directors of the Amman-based Jordanian- Palestinian Agricultural Marketing Company (JPACO)) on Saturday reviewed its key...JPACO's Board of Directors also examined the company's performance and its goals and discussed its action plan for 2023.
JPACO General Manager, Aladdin Abu Khair, said the company worked to open new international markets.
UAE Council for Environmental and Municipal Work launches Waste-free Schools project
DUBAI, UAE - The UAE Council for Environmental and Municipal Work held its second meeting, chaired by Mariam bint Mohammed...The meeting agenda also featured discussions of several key topics, including the environmental indicators of the We The UAE 2031 vision.
The minister said that the Council explored transformational environmental projects, in line with the new methodology for federal government work.
World Bank predicts decline in Egypt’s economic growth
Riyadh, Saudi Arabia-- Egypt’s economic growth is expected to decline to 4.5 percent in the fiscal year 2022-23 from 6.6...According to the report, the growth is forecast to inch up after that as the country continues to push ahead with macroeconomic stabilization and structural reforms
During the fiscal year 2022-23, inflation is projected to surpass the Central Bank of Egypt’s target range between 5 and 9 percent and remain in double digits
Ukraine says grain harvest dropped almost 40 percent
Kyiv, Ukraine--Ukraine estimates its grain harvest fell by around 40 percent year on year due to the Russian invasion, a representative...Ukraine is a major exporter but Russia's invasion in late February stopped shipments and blocked 20 million tonnes of grain in Ukraine's ports
In July a landmark deal signed and brokered by the UN and Turkey established a safe shipping corridor for exports to resume
PIF leads Saudi Arabia on path of economic reforms
In order to achieve the Vision 2030 goals, the PIF and its portfolio companies seek to help the kingdom grow...According to a report by S&P Global Rating, the Public Investment Fund (PIF) has US$620 billion of assets under management
The Saudi Stock Exchange, Tadawul, is the largest equities market in MENA by market capitalization and trading volumes
UAE orders arrest of company director for fake emiratisation quota
Abu Dhabi, UAE-- The UAE Public Prosecution has ordered the arrest of a private company director who was proven to...The suspect allegedly forged e-documents, faked employment contracts, and falsely stated that his company had hired Emirati citizens
The UAE Attorney-General, received a report about the incident from the Ministry of Human Resources and Emiratisation and ordered the launch of an urgent investigation
US Fed’s preferred inflation gauge eases in November
A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome...The US Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, rose 5.5 percent last month.
This was slightly below October's level but remains significantly higher than policymakers' target of two percent inflation.
