UAE economy to grow 5.7% in 2024 in spite of global challenges
Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including...Economy
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...Business Economy
Eye-popping: Saudi prince unveils mirrored skyscraper eco-city
A futuristic Saudi megacity is to feature two skyscrapers extending across a swathe of desert and mountain terrain, according to...NEOM, a biotech and digital hub spread over 26,500 square kilometres (10,000 square miles), was once touted as a regional "Silicon Valley"
The "first phase" of the project, lasting until 2030, will cost 1.2 trillion Saudi riyals (roughly $319 billion), Prince Mohammed said
Global economic growth slows amid gloomy, uncertain outlook: IMF forecast
Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions.Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions
China’s slowdown has been worse than anticipated amid COVID-19 outbreaks and lockdowns, and there have been further negative spillovers from the war in Ukraine
Microsoft earnings fall
The poor performance result of sagging demand.The US technology giant reported profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier but missing market forecasts.
The earnings stumble was due mostly to foreign exchange rates and shutdowns of personal computer factories in China
Lebanon approves $150m World Bank loan for wheat import
Lebanon's parliament approved on Tuesday a $150 million World Bank loan to import wheat, as shortages of subsidized bread intensify...Long lines have formed in front of bakeries and supermarkets where people wait hours for a bag of subsidized Arabic bread.
Lebanon imports 80 percent of its wheat from war-torn Ukraine, according to a representative of Lebanon's wheat importers.
IMF cuts global growth outlook amid US, China slowdowns
In its latest World Economic Outlook, the International Monetary Fund cut the 2022 global GDP estimate to 3.2 percent, four-tenths...The top priority for policymakers is to rein in soaring prices, even at the cost of inflicting pain on their citizens, the fund said.
China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades.
Iraqi Kurd farmers battle drought as Lake Dukan retreats
The artificial lake was created in the 1950s following construction of the Dukan dam, to supply irrigation and drinking water...The artificial lake was created in the 1950s following construction of the Dukan dam, to supply irrigation and drinking water for the region, as well as generate electricity
With rainfall becoming a rarity and after three successive years of drought, Iraq has been forced to halve the area it devotes to agriculture
Morocco retrieves eight migrant bodies off its coast
Moroccan authorities on Monday retrieved the bodies of eight migrants off the southern shores of the North African kingdom, local...Their inflatable boat sank near the coastal town of Akhfennir in Tarfaya province as it tried to reach Spain's Canary Islands
Almost 1,000 migrants died or were reported missing at sea in the first half of the year as they tried to reach Spain, rights group said
JCDC, Cruise Saudi to develop Jeddah Central Project design
The Marina and terminal will contribute to transforming Jeddah’s coastline.The Marina and terminal will contribute to transforming Jeddah’s coastline
The project will also foster growth of the Kingdom’s marine tourism industry
Saudi Crown Prince unveils designs for futuristic city The Line
Crown Prince Mohammed bin Salman bin Abdulaziz, and Chairman of the NEOM Board of Directors, Monday announced the designs of...THE LINE is a civilizational revolution that puts humans first, providing an unprecedented urban living experience while preserving the surrounding nature
The designs of THE LINE embody how urban communities will be in the future in an environment free from roads, cars and emissions
Bahrain joins UAE, Jordan and Egypt in industrial pact
Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth...The Industrial Partnership for Sustainable Economic Development was announced in the UAE on May 29, 2022 with an aim to empower their industrial sector.
The plan was establish large joint industrial projects, providing private sector companies with opportunities for expansion and creating job opportunities.
