Saudi Arabia announces operational start of this year’s Hajj season
Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445...Economy
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...Economy
UNGA welcomes Qatar’s hosting of 2022 FIFA World Cup
The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East.The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East
The General Assembly adopted its resolution under the title "The 2022 World Cup organized by FIFA in Qatar."
Egypt economist dies, police denies ‘forced disappearance’
"According to official records in the prosecution, (Ayman) died on March 5," his brother Omar Hadhoud, a lawyer, told AFP."According to official records in the prosecution, (Ayman) died on March 5," his brother Omar Hadhoud, a lawyer, told AFP
The interior ministry meanwhile said on Sunday that Hadhoud was placed in a psychiatric facility on February 6
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
Egypt inflation rises to 12.1 percent as foreign reserves dip
Egypt’s annual inflation rate hit 12.1 percent in March, official figures showed Sunday, as foreign reserves declined by $4 billion...The latest figure marks an increase of more than two percent compared to the 10 percent inflation rate recorded in February -- already at a near three-year high.
The Arab world’s most populous country has been struck by mounting economic pressures since Russia’s invasion of Ukraine in late February caused global commodity price to shoot up.
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Iraq witnesses dust storm that lands dozens in hospital
Iraq is particularly vulnerable to climate change, having already witnessed record low rainfall and high temperatures in recent years.The storm erupted in the north of the country on Thursday, leading to cancellation of flights serving Kurdistan’s capital Arbil
As the storm swept south, it shrouded the Iraqi capital of Baghdad and cities as far south as Nasiriyah in a ghostly orange
Famine-threatened Yemen fears impact of Ukraine war
Across the MENA region, people are struggling to secure even the most basic staples in view of soaring food and...More than 17 million people in Yemen face high levels of food insecurity
Famine conditions already afflict more than 30,000 Yemenis, UN agencies said
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when...Across the greater MENA region, Yemen, Jordan, Turkey, and Morocco have generated more than 10 percent of their power from solar and wind
However, things appear poised to change very soon, with several projects that may improve the region’s overall renewable outlook
S&P degrades Russia’s forex payments rating to ‘selective default’
Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid...The agency does not expect investors to be able to convert the ruble payments to dollars equivalent to the amounts originally due
Russia's finance ministry on Wednesday announced it had made a payment of almost $650 million due on April 4 in rubles
S&P keeps Kuwait’s credit ratings at A+ with negative outlook
Kuwait's long and short-term foreign and local currency sovereign credit ratings have been affirmed at 'A+/A-1' by Standard & Poor's...The international agency also cautioned that it could lower the ratings if no sustainable comprehensive financing arrangements are agreed
The S&P forecasted that higher oil prices would bolster Kuwait's fiscal and balance of payments positions over 2022-2023
