Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.Business Economy
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...Business Economy
Three Saudi ports make world records on CPPI 2021
The CPPI is an indicator produced by the Transport Global Practice of the World Bank.The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
The King Abdullah Port ranks first on the list of 370 global ports, while Jeddah Islamic Port ranks eighth
Agreement signed for new payment channels and services on AjmanPay app
Ajman’s Department of Finance (DoF) signed a cooperation agreement with First Abu Dhabi Bank (FAB) and Magnati to support the...This agreement is in line with Ajman government’s strategy of fostering strategic partnerships between the public and private sectors.
It also complies with DoF’s efforts to develop innovative financial services that offer customers the facility to save their financial data.
Saudi group at WEF calls for international cooperation
A Saudi delegation said Wednesday that the transformation march launched by it a few years ago contributed to enhancing the...The delegation participated in a panel discussion entitled "Kingdom of Saudi Arabia: A Future Vision".
It highlighted kingdom's role in supporting the region's stability within the framework of promoting development.
Global economy to gain $8.3 trillion if countries invest in skills: WEF
The Reskilling Revolution initiative, a coalition of 50 CEOs, 25 ministers and 350 organizations committed to realizing these gains for...The initiative, launched at WEF in January 2020, is working to provide 1 billion people with better education, skills and economic opportunity by 2030.
Two years into its work, the initiative will expand beyond adult reskilling and upskilling and integrate a focus on education for children and youth.
Egypt to unveil development projects worth $860m
Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said.Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said
The contracts with the private sector will be long term and subject to clear-cut mechanisms, he added.
US expects deficit to drop to $1 trillion in 2022
The US government deficit will fall dramatically this year to $1 trillion, down from levels not seen since World War...The budget shortfall in the current fiscal year will shrink significantly from the prior year, when it reached nearly $2.8 trillion due to the massive spending
The CBO expects the deficit to fall again in the next fiscal year which runs October 1 to September 30 but rise to 6.1 percent of gross domestic product (GDP) by FY2023
Greece will send Iranian oil from seized ship to US: police
Greece will send Iranian oil from a seized Russian-flagged tanker to the United States at the request of the US...Authorities that seized oil didn't provide any details about how it would be transferred to the US
Tehran protested against Greece and called it "international robbery"
Non-oil exports of Saudi Arabia surge 12.8% in March
Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to the General Authority for Statistics, also known...Non-oil exports excluding re-exports rose by 22.4 percent year-on-year
On a month-on-month basis, Saudi Arabia's exports of crude and refined oil jumped 35.7 percent, having set a record high increase at least since February 2017
Spiralling inflation spurs GCC gold demand
Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the...Gold consumption in the GCC region reached 47 tons in Q1 2022, up 18 percent from the prior year
UAE consumption reached 12.50 tons in Q1 2022, an increase of 50 percent from the previous year
Partnerships, collaborations signed during Global Aerospace Summit 2022
Several partnerships and collaboration agreements were signed between leading aerospace, aviation, space and defense organizations during the sixth edition of...LeoLabs announced a multi-million dollar award to provide data and services for the Japan Air Self Defense Force (JASDF).
Sanad and Triumph Group sign MoU outlining their plans to collaborate on the provision of next-generation engine MRO capabilities in UAE.
