Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...Economy
Finland, UAE eye collaborations in clean technologies
"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...Economy
Saudi real GDP grows 8.8 percent in third quarter on rise in oil activities
Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to...GASTAT noted that the real GDP growth in the third quarter was up 2.1 percent compared to the second quarter of this year.
Government activities also rose by 2.5 percent in the third quarter compared to the same period a year ago.
Russia oil embargo, price cap disrupts tankers
Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships...Aimed at depriving Russia of key income, the western sanctions have also slowed transportation of its oil by sea
President Vladimir Putin on Friday warned that Russia could reduce crude production in response to the price limit
US Fed poised for smaller rate hike with eye on wage growth
But the half-point jump analysts expect to see in the Fed's benchmark lending rate will still be a steep rise,...To make borrowing more expensive, the Fed has raised interest rates six times this year, including four bumper 0.75-point increases, bringing the rate to between 3.75% and 4%.
Despite the Fed's forceful moves, consumer inflation stood at 7.7% in Oct while job gains remained robust, raising worries that the bank would prolong aggressive campaign.
Ethiopia reels from high inflation and economic slowdown
After a decade of dynamic growth during the 2010s, Africa's second most populous country has suffered multiple shocks, including the...Annual average inflation is expected to hit 30 percent in 2022 (compared to 26 percent last year), driven by an increase in food costs
A peace deal signed last month between the federal government and Tigrayan rebels has raised hopes of an economic recovery
UAE passport ranked most powerful in the world
Dubai, UAE— The United Arab Emirates has been ranked as the country with the world's most powerful travel document. That...The UAE has beaten the likes of Germany, Sweden, Finland and Luxembourg in the latest ranking
An Emirati passport holder can travel to a huge number of countries visa-free, and in many others you can get a visa right when you arrive
Qatar sees 34 percent decline in building permits in November
Doha, Qatar— Qatar has witnessed a 34 percent decline in building permits to 645 during the month of November, as...According to the monthly statistics issued by the Planning and Statistics Authority, the decrease was noted in the all of the municipalities
Commercial buildings were found to be in the forefront of non-residential buildings permits with 32% (25 permits), followed by governmental buildings with 31% (24 permits)
US could change green subsidies rules as EU fears unemployment
The United States is open to amending lucrative green subsidies that have drawn transatlantic anger for allegedly encouraging job losses...Washington's landmark Inflation Reduction Act contains $370 billion in subsidies for green energy and tax cuts for US made electric cars
Biden defended the act and said it was never intended to disadvantage US allies, and has committed to understanding EU concerns.
DEWA receives 29 EOIs for first phase of desalination project at Hassyan
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first...This is the first project implemented by DEWA using the Independent Water Producer model, which will run in phases during 2025 and 2026.
The firm uses clean solar power to desalinate seawater using the latest Reverse Osmosis technologies, which consume less energy.
UAE, Turkmenistan review enhancing bilateral relations
ASHGABAT, TURKMENISTAN - Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber has left the UAE on...The UAE Minister of Industry and Advanced Technology headed a delegation comprising senior officials from government, private sectors to Turkmenistan.
The delegation discussed ways to develop bilateral relations and enhance cooperation in the fields of oil, gas, clean energy, infrastructure.
DEWA receives 29 EOIs to set up desalination project at Hassyan complex
The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant.The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant
It has appointed a consortium of companies, including Deloitte, WSP and Addleshaw Goddard, to provide consultancy services for the project
