Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...Business Economy Geostrategy
GCC leaps into healthy aging with tech and policy
In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says...Economy
Listed insurance firms’ in UAE net profits at $222m in H1 2022
The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64...The total premiums of insurance firms listed in local financial markets in H1 2022 increased by 7.64 percent year-on-year to $302 million
The total net profits of insurance companies listed in local financial markets in H1 2022 totaled $222 million
Weeklong real estate transactions in Dubai amount to $2.8bn
The real estate and properties transactions valued at $2.8 billion (AED10.3 billion) in total during the week ending 19 August...A total of 344 plots were sold for $694 million, 2,239 apartments and villas were sold for $1.07 billion
The top two transactions were a land in Al Wasl sold for $108 million, followed by a land sold for $55 million in Hadaeq Sheikh Mohammed Bin Rashid
UAE gave foreign aid worth $3.5bn, says MoFAIC
The UAE is providing sustainable humanitarian aid worldwide, underscoring its commitment to promote regional, global peace and prosperity. As per...The total value of foreign aid provided by the UAE from the start of 2021 to mid-August 2022 amounted to $3.5 billion
While Yemen accounted for most of Emirati aid with over $315 million, the list also included several Arab, Asian and Western countries
Middle East nations to gain $1.3 trn in additional oil revenues by 2026: IMF
The gains, due to high oil prices, will provide 'firepower' to the region's sovereign wealth funds, said Jihad Azour, IMF's...Recently, Saudi Arabia said it achieved a rare budget surplus of over $20bn in the second quarter of 2022, as oil revenues surged 90 percent compared to a year ago.
Saudi PIF has invested over $620 billion in total, $7.5 billion alone in US stocks during the second quarter, when the share prices were relatively low.
Saudi, Uzbekistan sign cooperation pact in several energy sectors
Saudi Arabia and Uzbekistan have signed an agreement to develop cooperation and exchange information and experiences in all fields of...They will develop cooperation and exchange information and experiences in all fields of energy though research and studies besides exchanging policies and laws related to these.
The agreement was signed by the acting Minister of Energy Dr. Essam bin Saad bin Saeed and the First Deputy Minister of Energy of Uzbekistan Azim Ahmed Khojayev.
Asian, European markets mixed as investors assess Fed outlook
A two-month rally from June lows appears to have run out of steam this week, with downward pressure coming after...Hong Kong, Taipei, Manila, Sydney and Jakarta inched higher, while Shanghai, Singapore, Seoul, Wellington, Mumbai and Bangkok all fell.
Wall Street's three main indexes edged up after Wednesday's losses. In Europe, London inched up, while Paris and Frankfurt edged down.
OPEC revises oil demand projection to 3.1mn barrels a day
The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC...The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals,” says OPEC secretary general
He predicted a slowdown in demand growth in 2023 but said it should not be worse than what has already been experienced in the last two years
Israel planning renewable energy projects in MENA region
The companies are also developing projects in Morocco, the UAE and Bahrain, along with Egypt and Jordan.The companies are also developing projects in Morocco, the UAE and Bahrain, along with Egypt and Jordan
The plans follow two years after Israel normalized relations with the UAE, Bahrain and Morocco. Israel also signed a Free Trade Agreement with the UAE
Qatar buses feel the World Cup heat in tournament test
Getting the football hordes around the city and between the eight stadiums promises to be one of the biggest challenges....With more than one million people expected to descend on the tiny Gulf state for the tournament, the government is taking no chances with their multi-billion dollar preparations
Amid sweltering summer heat, hundreds of air conditioned but mainly empty buses went out to stadiums, metro stations and pickup points
Goal: A just energy transition that’s equitable to all
It must be based on scientific, economic, and engineering facts, appreciate the multiple dilemmas and challenging trade-offs, and accelerate the...Record growth in renewables, representing over 80 percent of all new power-generating capacity last year, is the clearest sign yet that the energy transition is gathering pace
Policies aimed at divesting from hydrocarbons too soon, without adequate viable alternatives, are self-defeating. They will undermine energy security, erode economic stability
