Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...Economy Uncategorized
UAE is an exceptional economic leader in Middle East
"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative...Economy
Investopia partners discuss investment opportunities in ME region
The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development.The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development
The global investment platform also announced its next annual conference on 1 and 2 March 2023 in Abu Dhabi
Fitch lowers outlook for UK rating to negative
The failure to flesh out her economic plan failed to calm the jittery markets, however, and the pound slid 2.01...Almost a month since she succeeded Boris Johnson, Truss has alienated voters, financial markets and many of her own lawmakers
Fitch said that the large and unfunded fiscal package announced as part of the new government's growth plan could lead to a significant increase in fiscal deficits
Saudi Winter Games: Gulf is new hub for global sports competitions
In 2021, Dubai hosted qualifying slaloms for the Beijing Winter Olympics in the refrigerated dome of a huge shopping mall...Saudi investors have bought English football club Newcastle and are financing the breakaway LIV golf tour
The rivalry with the Qatari and Emirati neighbours, regional pioneers in sports diplomacy, remains constantly in the background
Oil prices rise as OPEC+ agrees to cut output by two million barrels a day
Oil prices had slid in recent weeks back to the levels before the war in Ukraine on concerns of a...In Vienna, ministers from the 13-nation OPEC cartel and a group of 10 exporters led by Russia agreed to reduce production by two million barrels a day from November
It is the biggest cut since the height of the Covid pandemic in 2020 and came despite concerns it could fuel inflation further and push central banks to hike interest rates
WTO curtails global trade forecast for 2023 as Ukraine war takes toll
Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to..."The picture for 2023 has darkened considerably. Today the global economy faces multi-prong crises," said WTO Director-General Ngozi Okonjo-Iweala.
The WTO said surging energy prices in Europe, stemming from the war in Ukraine, were expected to squeeze household spending and raise manufacturing costs on the continent.
Lebanese lawmaker stages bank sit-in to free trapped savings for surgery
Cynthia Zarazir, who was elected to parliament in May, is the latest in a growing number of angry depositors who...Zarazir entered her bank branch in Beirut o demand $8,500 to pay for surgery costs not covered by her health insurance.
Also on Wednesday, a retired member of Lebanon's Internal Security Forces entered a bank in Beirut's southern suburbs to demand access to his savings.
S&P says UAE non-oil economy posts growth in September
S&P Global's latest data reveals that the UAE has recorded a strong growth in business across the non-oil economy even...August had recorded a slightly higher PMI of 56.7, but S&P considers any readings above 50 as growth while those below 50 are marked as contraction
S&P noted that firms also encountered relatively mild price pressures, as input costs rose only slightly after a renewed fall in August
IMF chief says BOE acted quickly to UK budget proposal
Prime Minister Liz Truss on Sunday conceded she should have better prepared Britain for her plan, which went further than..."We cannot have fiscal policy working against the monetary policy by providing untargeted policy support", IMF chief Kristalina Georgieva said Tuesday
UK Finance Minister Kwasi Kwarteng on September 23 announced the debt-driven mini-budget, which slashed taxes and sparked market turmoil
In Morocco hills, cannabis farmers bet on budding industry
Morocco - the world's top producer of hashish according to the United Nations - lies on Europe's doorstep and is...The marginalised Rif region has long been a major source of illicit hashish smuggled to Europe while Moroccan authorities, wary of social unrest, have often turned a blind eye
Growers now hope that a change in the law last year will help them profit legally from medicinal cannabis, increasingly used to treat conditions including multiple sclerosis
DMCC, Fresh Water Norway partner to expand water supply chain
The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a...The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a period of 50 years
Fresh Water Norway will be able to avail of DMCC’s services, global connections and network across supply chains and its ability to drive trade flows through Dubai
