Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...Economy
Rising costs, debt challenges grip Egypt’s economy
Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader...Economy
China’s import of oil from Russia jumps 55% in May
The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month.The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month
The number was also a spike from the 5.44 million tons China imported in May 2021
China’s zero-Covid policy leaves a long trail of medical waste
Hazmat-suited workers poke plastic swabs down millions of throats in China each day, leaving bins bursting with medical waste that...From Beijing to Shanghai, Shenzhen to Tianjin, cities are now home to an archipelago of temporary testing kiosks
Mass testing appears set to stay as Chinese authorities insist zero-Covid has allowed the world's most populous nation to avoid Covid spread
EU terms blockade of Ukraine grain by Russia ‘real war crime’
EU foreign policy chief Josep Borrell said Monday that Russia should be held "accountable" if it keeps blocking the export...Western countries have demanded Moscow to stop blockading Ukraine's Black Sea ports to allow grain export
French Foreign Minister insisted that "Russia must stop playing with global hunger" as it seeks leverage on the West
DP World, Saudi Ports Authority to establish Jeddah Logistics Park
The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers...The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers and exporters
It will also offer processing, labelling, fulfilment, consolidation, de-consolidation, and temperature-controlled storage for cargo
UAE-India trade to rise 120% to US$100bn in 5 years
The agreement is the first of its kind that the UAE has signed with any country, and it is India's...The agreement is the first of its kind that the UAE has signed with any country, and it is India's first with any country in the Middle East and the Gulf region
The UAE’s foreign trade in 2021 recorded nearly AED1.9 trillion, growing 27 percent compared to 2020, and 11 percent compared to 2019
Asian markets and oil prices tank on recession concerns
Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in...The losses come after a sell-off last week fueled by the Federal Reserve's sharp interest rate hike last week, the biggest in nearly 30 years
In early trade, Asian traders were struggling, with Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul, Taipei, Jakarta and Wellington all in the red
Inflation, subsidy reform hit stomachs in isolated Iran
Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion...Economic analyst Saeed Laylaz believes price growth in Iran has exceeded 40 percent annually since 2018
In Tehran's marketplaces, attention is focused on the consequences and effects of inflation, rather than its causes
UAE to attract super rich, say investment trends
One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has...The UAE tops the list of the ten countries drawing net inflows of the wealthy in 2022, followed by Australia, Singapore and Israel
The report titled "The flow of the world's wealthy in the second half of 2022", tracks private wealth and investment migration trends worldwide
Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during...Russia President Vladimir Putin and several Arab leaders stress on the importance of strengthening relations
Relations in various fields -- including technology, food security and energy -- remain in focus during SPIEF 2022
DCCC holds talks on UAE-India free trade agreement
Dubai Customs Consultative Council held a meeting on the historic UAE-India Comprehensive Economic Partnership Agreement, expected to increase trade between...The UAE-India Comprehensive Economic Partnership Agreement is expected to increase trade between the two countries by 120 percent
Due to CEPA, trade between the two countries is expected to reach US$100 billion within five years compared to US$45 billion currently
