Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...Economy
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...Business Economy
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...The report pointed out that despite a decrease in real estate transaction volume to $4.6 billion from $5.82 billion, apartments remained popular for investment
Key residential highlights included the Marina District in Lusail, while The Pearl remained the most sought-after location for apartment seekers
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...Al Jaber held several bilateral meetings with Kyriakos Mitsotakis, PM of Greece, George Gerapetritis, Minister of Foreign Affairs, and Kostas Skrekas, Minister of Development
The two sides discussed means of fostering cooperation within the UAE-Greece CEPA agreement, signed during the visit of the Greek PM's to the UAE in 2020
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...Iraq was the biggest importer of Iranian agricultural and food products worth US$1.7 billion.
The UAE was the second largest importer of Iranian agricultural and food products worth $675 million
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...The fourth quarter 2023 results and the annual results for the same year have been reached at by using the new methodology.
Saudi Arabia is the first country in the Gulf and Arab regions, and among the first G20 countries, to implement the chain-linking methodology.
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...Zhong said renewable energy, wind power, and green hydrogen production could achieve zero carbon dioxide emissions from the source
The annual growth rate, as per the International Renewable Energy Agency, of global hydrogen trade is expected to reach 8 percent by 2050
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central mosque in Lagos said they were barely able to provide for their families
The government brought in reforms last year that have had a devastating effect on citizens of Africa's biggest economy, where around half the population is Muslim
Tunisian economic crisis mutes build-up to Ramadan
Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and...Economist Ridha Chkoundali says Tunisia is "experiencing a period of stagflation, which means a decline in growth and a rise in inflation"
Tunisian banks are being asked by the state to finance the country's debt amounting to 80 percent of GDP, undermining their ability to lend to the private sector
Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...UAE's Minister emphasizes the need for government entities to prepare for AI-driven changes.
Development of AI-related legislation will facilitate technology integration into government services.
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential for their operations
The items encompass raw materials, semi-finished materials, finished materials, packaging materials, machinery, equipment, and spare parts required for industrial production
