Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Business Economy Global
WEF24: AI stays at forefront of energy revolution
There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco...Economy Energy
ECB goes on offensive as inflation pressure mounts
The European Central Bank will raise its interest rates on Thursday for the first time in over a decade, but...The European Central Bank will raise its interest rates on Thursday for the first time in over a decade, but the bank is already under pressure to do more amid record inflation
Inflation in the eurozone sat at 8.6 percent in June, the highest ever recorded for the currency club and well above the ECB's two-percent target
China urges lenders to extend credit to property sector
China's banking regulator has urged lenders to extend more credit to real estate developers, as a growing number of homebuyers...The consumer mortgage boycott has worsened fears of financial contagion in the country's troubled real estate sector
Furious at postponed deliveries of pre-sold homes, homebuyers have halted payments for already sold units in at least 100 residential projects
Jordan to achieve women-based legislative justice: Minister
International Labor Organization (ILO) estimated that the gender gap in labor force participation in Jordan has led to a loss...International Labor Organization (ILO) estimated that the gender gap in labor force participation in Jordan has led to a loss of $8 billion in the value of GDP in 2018
UNICEF estimated that increase in women’s participation in the Jordanian labor force by 25% over the next seven years will help Jordan's GDP grow by 5% annually
Capacity of DEWA IPP projects exceeds 4,000 MW
IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects.IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices
PPP projects inject more vigor into Saudi healthcare
The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare...The Kingdom is seeing a rise in private investment in the industry with multiple forthcoming healthcare PPP projects
Improving access to quality healthcare and building a world-class infrastructure are crucial pillars of Saudi Arabia's Vision 2030
Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.Dubai has one of world’s most competitive real estate markets. Rents have increased dramatically in the emirate: In May, the average monthly apartment rent was $7,500.
Real estate is an important part of the UAE’s economy, responsible for around 5 percent of the gross domestic product.
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
EU to discuss imposing harsher sanctions against Russia
The European Union will discuss tightening sanctions against Russia on Monday, as Moscow is accused of using the continent's largest...Brussels is expected to hold initial sanctions discussions Monday as Moscow is accused of using the continent's largest nuclear power plant
With the conflict grinding on and increasingly spilling out into global energy and food crises, the EU's foreign ministers are considering banning gold purchases from Russia
