Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...Business Economy Infographic
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...Economy Geostrategy Global
Italy to tax energy profits to ease price burden
The amount generated is expected to help families and businesses struggling with high bills.The money will help fund a new €4.4-billion package to ease the pain of high energy prices
This apparently comes on top of the €16 billion Italy has already spent in recent months
Saudi Arabia wins Best Pavilion at Expo 2020 Dubai
The pavilion of Saudi Arabia in Expo 2020 Dubai has been awarded Best Pavilion by EXHIBITOR magazine.The Saudi Pavilion has already won the Platinum Certificate in LEED by the US Green Building Council
It also holds three world records: the largest interactive light floor, the longest interactive water curtain, and the largest interactive digital screen mirror
Security eyed as more Arab nations adopt epassports
Arab countries that offer electronic passports include Saudi Arabia, UAE, Qatar, Oman, Lebanon, Algeria, Kuwait, Morocco, Comoros, Djibouti, Mauritania, Somalia...Arab countries that offer electronic passports include Saudi Arabia, UAE, Qatar, Oman, Lebanon, Algeria, Kuwait, Morocco, Comoros, Djibouti, Mauritania, Somalia and Sudan
Countries in the region that don't have a microchip in their passports include Bahrain, Egypt, Iraq, Jordan, Libya, the Palestinian territories, Syria, Tunisia and Yemen
Turkish president Erdogan inaugurates world’s longest suspension bridge
Turkish President Recep Tayyip Erdogan on Friday opened the world's longest suspension bridge over the Dardanelles strait in northwestern Turkey...The bridge over the Dardanelles strait in northwestern Turkey cuts travel time between Asia and Europe to six minutes.
The $2.8-billion "1915 Canakkale Bridge" built by a consortium of Turkish and South Korean companies has a main span of 2.023 kilometers between its towers.
India bypasses Western attempt to choke off Russian oil supply
Indian government officials on Friday defended the continued buying of Russian oil, saying European countries were still purchasing hydrocarbons from...Indian oil refiners have in recent days reportedly purchased several million barrels of discounted Russian oil even as the West seeks to isolate Moscow economically
New Delhi, which historically has had close ties with Moscow, has called for an end to the violence in Ukraine but has stopped short of condemning Russia's invasion
Dubai records $2.53 billion worth of weeklong real estate deals
Dubai recorded $2.53 billion worth of real estate and properties transactions valued during the week ending Friday, according to the...A total of 355 plots were sold for AED 1.33 billion, while 1,547 apartments and villas were sold for AED 2.96 billion.
Al Hebiah Fifth recorded the most transactions for this week by 244 sales transactions worth AED 521.52 million.
IEA appeals to governments to cut oil use over supply fears
The IEA urged governments to urgently implement measures to cut global oil consumption within months following supply fears stemming from...The outbreak of war in Ukraine has sent prices for the fuel up sharply and led to major economies, such as the US and Canada, sanctioning Russia by banning imports of oil
The IEA warned earlier this week of the risk of a global supply crisis as major oil companies, trading houses, shipping firms and banks have shunned Russia
Dubai, India discuss trade and economic cooperation
"We provide the best facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and..."We provide facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and logistics," Dubai customs official Musabih said
Indian counsel Kalimutu applauded Dubai Customs’ efforts in facilitating Indian trade, which helps grow mutual trade and investments
OPEC Fund approves $233 million for development projects
The grants were approved at the 179th session of OFID’s Governing Board in Vienna.The projects will reportedly, among other things, support economic recovery, help bring up new infrastructure, and boost food security
Overall, they are expected to benefit public-sector projects and promote sustainable development around the world
GCC looks to ease fiscal burden with privatization
The privatization move will also help the regional governments in maintaining better economic growth, increasing private participation and attracting foreign...Planning, executing, and concluding are the three primary stages of privatization
The privatization process in Kuwait will expand to 38 government institutions and activities
