China’s Guangdong province now boasts of 75,000 high-tech companies
Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said.By the...Economy
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...Business Economy Tourism
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...The plans include political, economic and public sector modernization.
The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
UN chief appeals for extension of Ukraine-Russia grain deal
Calling on "all parties" to make every effort to extend the agreement on Ukrainian grain exports, UN Secretary-General Antonio Guterres...The initial agreement was set to last 120 days, with the option for renewal on November 19 "if no party objects," Guterres' spokesman Stephane Dujarric noted Friday
Russian ambassador to the UN Vassily Nebenzia told reporters Thursday that Russian exports must be allowed to go through before Moscow will commit to an extension of the deal
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of...The amendments were made are in line with international best practice in light of the GCC Unified VAT Agreement
They are based on past experiences, challenges faced by various business sectors as well as the recommendations received from the relevant parties
UAE consumers hold the purse strings as soaring inflation affects wages, wealth and purchasing power
Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next...Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next three months, a latest survey points out
When asked in which segments they will reduce spending on over the next three months due to rising prices, 26 percent of those polled cited clothing as the top area, it adds
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities...The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC Professor Shibli Rubayat Ul Islam Friday in Dubai.
The agreement provides a framework for facilitating cross-border collaboration between the two bodies on supervision and enforcement actions.
GCC’s two biggest trade allies are Asians
As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is...Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the "priority theatre" of the Indo-Pacific.
But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy.
ExxonMobil Q3 net surges to US$19.7bn
Hike in profit was due to high oil, natural gas prices.The US oil giant became the latest petroleum heavyweight to report stunning third-quarter figures, with year-on-year profits nearly tripling.
The results show how the surge in crude prices in the aftermath of Russia's invasion of Ukraine has boosted oil company profits.
QGIRCO posts Q3 net profit of US$1.1m
Firm's Q3, 2022 profit fell compared to Q3 in 2021.The company's data indicated that the earnings per share amounted to $.01 in the third quarter of this year,
The company's earnings per share was $.02 for the same period last year.
OMV Q3 net profit at $3.28bn amid high energy prices
Revenue doubled year-on-year to US$17.1 billion.OMV has worked closely with Russian giant Gazprom until the invasion of Ukraine.
Following European sanctions on Moscow, OMV froze its investments in Russia.
