World adds 50% more renewable energy capacity in 2023
The International Energy Agency said that the renewable energy capacity added to energy systems went up 50 percent in 2023,...Economy Energy
WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...Economy
In fair phase-out of oil, gas-rich nations should stop first: Report
For a 50/50 chance of limiting the rise in global temperatures to 1.5C, 19 countries in which per capita GDP...The overarching objective, enshrined in the 2015 Paris Agreement, is to cap global warming ‘well below’ 2C, and 1.5C if possible
A torrent of research since 2015 has confirmed that the lower aspirational target is by far a safer threshold
Saudi Arabia Railways opens tickets for train to strategic Al Qurayyat
Saudi Arabia Railways "SAR" has opened online booking of tickets for train services via the North Train to and from...The services starts on March 31, 2022, with a long-distance journey of 1,215 km by passenger train between Riyadh and Al-Qurayyat.
Saudi Arab Railway stated that such a step comes in conjunction with the inauguration of the Al-Qurayyat passenger train station on March 30, 2022.
Russia warns embargo on its oil imports will impact everyone
An embargo on Russian oil imports, pushed for by some European countries over Moscow's military action in Ukraine, would have...Some EU countries including Baltic states have called for an embargo on Russian oil and gas
EU foreign ministers on Monday are meeting to discuss the situation in Ukraine
Egypt and Saudi Arabia to boost bilateral economic cooperation
Hala Al-Saeed, Egypt’s minister of planning and economic development, discussed ways to enhance future cooperation between Egypt and Saudi Arabia...A discussion was held between Egypt's minister of planning and Saudi Arabia's minister of trade.
The minister of Egypt stressed her keenness to consolidate relations between the Egyptian and Saudi business communities.
Egyptian pound loses 13% of its value against US dollar
The value of the Egyptian pound shed 13 percent against the US dollar on Monday, registering 17.80 pounds against the...The pound's value went from 15.70 to the dollar on Sunday to 17.80 at midday on Monday, according to rates on state-owned banks
The currency in Egypt saw a sharp devaluation in 2016 when it lost nearly half its value against the dollar overnight
GCC members lead Arab nations in happiness report
Four of the six GCC members feature within the top 50 of the World Happiness Report, and are atop the...The World Happiness Report is a publication of the United Nation’s Sustainable Development Solutions Network
It extensively uses data from the Gallup World Poll, and used data from polls for 2019, 2020, and 2021 for this year’s report
Licensed firms and SMEs account for bulk of AFZ procurement
Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of...Ajman Free Zone covered 27 per cent of the total purchases and contracts of SMEs alone during the same year.
The Free Zone's procurement policy benefits investors and business owners from more than 165 countries, said Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of AFZ Board.
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a...The UAE issued 21 million cheques in 2021, with an average value of $13,900
Despite the recent decriminalization of cheque bounces, UAE businesses must still consider the risks connected with them
Iran’s Khamenei hopes for economic upturn in Persian New Year speech
Khamenei said the toughest problems encountered last year were due to "rising prices and inflation".Khamenei said the toughest problems encountered last year were due to "rising prices and inflation."
Iran's economy has suffered under stringent sanctions that were reimposed by the US in 2018
Houthi drone attack causes ‘temporary reduction’ in Saudi oil
Top crude exporter Saudi Arabia announced a "temporary reduction" in oil output at a facility run by energy giant Aramco...The Iran-backed Houthis, against whom Saudi Arabia leads a military coalition in Yemen, have repeatedly targeted the kingdom, including Aramco's sites
The latest round of attacks comes after an oil refinery in the Saudi capital Riyadh was targeted on March 10 by a drone, an operation claimed by the Huthis
