Sharjah Chamber posts growth in membership in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...Business Economy
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...Business Economy
Oman producer prices increase by 40.7 percent in Q2
Producer prices in Oman increased by 40.7 percent during the second quarter of 2022 The producer price index in the...The rise in the index was due to the 48.7 percent rise in oil and gas products and a 40.7 percent increase in non-oil products.
The price of non-oil products rose due to the increase in the prices of the manufacturing group by 9.4 percent, and the mining, electricity and water group by 1.8 percent.
Foreign investors in Arab exchanges buy $119.6bn in 2021
The Arab Monetary Fund (AMF) said that the Abu Dhabi Securities Exchange (ADX) was ranked first in the Arab region...ADX was ranked first in the Arab region in 2021, in terms of buy and sell transactions by foreign investors, says AMF
Buying transactions by foreign investors in ADX totaled $32.2 billion at the end of last year
Hydrogen policy will help UAE in generating clean energy
Abu Dhabi Department of Energy (DoE) Monday announced that the development of its hydrogen policy and regulatory framework aims to...The development of hydrogen policy and regulatory framework aims to accelerate the UAE's global leadership in low-carbon and clean hydrogen.
For the policy, the DoE is working with key Abu Dhabi government and private sector stakeholders.
UAE’s H1 non-oil trade billion dirhams for first time in its history
The UAE has proven to the world the recovery of international trade after the most difficult pandemic that humanity has...The contribution of imports from the UAE’s non-oil trade has decreased to 55 percent, while the share of non-oil exports was 17 percent.
Imports were AED580 billion during the first half of 2022, for the first time in its history as well. It recorded a growth of 19 percent compared to the same period in 2021.
Abu Dhabi’s Al Bateen Executive Airport reopens after upgrade
Al Bateen Executive Airport has reopened following the successful completion of a major refurbishment project which will allow the airport...Al Bateen Executive Airport has reopened after the completion of a major refurbishment project.
The work, completed in under 90 days, involved resurfacing and widening the 3.2km runway to accommodate wide-body aircrafts, among others.
China cements influence in Iraq through oil, infrastructure deals
After decades of conflict, Iraq is in need of foreign investment, and specifically investment in energy sector infrastructure. China, with...Beijing has become one of the largest importers of Iraqi crude, and in 2021 accounted for 44 percent of Iraq's oil exports, according to prime ministerial adviser Muzhar Saleh.
Iraq is among the many partners in China's vast "Belt and Road" infrastructure initiative, which Western leaders say risks saddling poorer countries with debt.
WGES 2022 to promote investment tie-ups in green projects
The summit will be attended by several local and global high-profile participants, including heads of states and governments, as well...The summit will be attended by several local and global high-profile participants, including heads of states and governments, as well as prominent global speakers
The UAE is the first country to develop the Green Key Performance Indicators focusing on three dimensions - environmental, economic and social - of sustainable development
After six months of war, what’s next for Ukraine?
Russian President Vladimir Putin announces on February 24, 2022 a "special military operation" to protect the Russian-speaking self-declared separatist republics...Kyiv and Moscow on July 22 sign a UN-Turkey mediated deal in Istanbul to resume grain exports in a bid to relieve a global food crisis
On August 5, Russia and Ukraine accuse each other of shelling the Zaporizhzhia nuclear power plant in southern Ukraine that is under Russian military control
China slashes lending rates to spur economic growth
Battered by the government’s zero-Covid policy and a slump in the property market, China’s central bank cut benchmark loan rates...Analysts had been expecting cuts to the LPR rates, but said they may not be enough to rescue the property sector
China's economic growth came in at just 0.4 percent on-year in the second quarter -- its slowest rate since the Covid crisis began in 2020
Most Asian markets down as traders eye key Powell speech
All eyes are on a symposium in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that...The optimism has slowly been eroded in recent weeks as Fed officials have warned that the battle against inflation was far from won
Jonathan Millar of Barclays said it was unlikely Powell would signal a slowdown in rate hikes this week.
