In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...Business Economy
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...Economy
Air passengers number up, reveals global aviation meet in Dubai
Some of the greatest minds in the aviation industry took to the stage at this year’s Global Aviation Conference in...Air passenger numbers are expected to exceed 80 percent of pre-pandemic levels this year.
The surge would be driven by strong pent-up demand, eased travel restrictions, and growing employment rates.
UAE, France, India share vision on sustainable growth: Sheikh Abdullah
New York, USA - UAE, France and India have discussed the need for enhancing global cooperation to counter energy and...Foreign ministers of the three countries reviewed it as they met on the sidelines of UNGA's 77th session.
The three ministers discussed enhancing global cooperation in facing issues like energy and food security.
Putin accuses European Union of blocking Russian fertilizer
Putin accused the European Union of blocking 300,000 tons of Russian fertilizer from reaching the world's poorest countries. "Our offer......In July, an agreement was signed which allowed Russia to export its agricultural products and fertilizer despite Western sanctions.
The West imposed a litany of sanctions on Russia after it sent troops into Ukraine on February 24.
Aramco says global energy transition goals unrealistic
Oil giant Saudi Aramco's chief blasted "unrealistic" energy transition plans, calling for a "new global energy consensus", including ramped-up investments...Aramco unveiled record profits of US$48.4 billion in Q2 of 2022 after Russia's invasion of Ukraine and a post-pandemic surge in demand sent crude prices soaring.
One of the reasons for energy crisis is declining oil and gas investments, the Aramco chief said.
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technologyThe innovative design is intended to be 100 percent reliant on solar energy.
As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization...The UAE minister said the ISO annual meeting is in tune with MoIAT's efforts to benefit from international expertise.
Sultan Al Jaber added that such events showcase the UAE's quality infrastructure and deepen partnerships with relevant national and global entities.
World Bank urges Sahel nations to diversify economies
Alerting five West African countries to the danger posed by climate change, the World Bank has urged them to diversify...World Bank warned that millions were at risk or already experiencing food insecurity due to low agricultural production from extreme weather
The report includes proposals such as restoring degraded land and boosting economic opportunities for communities
European Union pledges €364m in grants to Jordan
The aid packages include supporting human development, civil society, governance, institutional development and green transition.The aid packages include supporting human development, civil society, governance, institutional development and green transition
EU ambassador to Jordan Hadjitheodosiou said that the programme sets the priorities for cooperation between the two nations
UAE says global pacts can help face labor related challenges
The UAE highlighted the significance of complying with international work standards and developing partnerships that empower countries to overcome the...The UAE said that it is important to guarantee the rights of employers and employees.
Global cooperation would help in reducing inequality and discrimination that employees may be exposed to.
Arab economies expected to grow by 5.4 percent in 2022: AMF
Arab economies grew by 3.5% in 2021. The higher growth in 2022 is attributed to an improvement in global demand...However, economic growth for Arab countries is expected to decline in 2023 to about 4 percent, in line with the decline in global economic growth rate.
Global economy is expected to rise 3.2 percent in 2022 and 2.9 percent in 2023, said Abdulrahman bin Abdullah Al-Hamidy, chairman AMF Board of Directors.
