Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of...Business Economy
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...Business Economy
Uncertainty for Russian tourists in Turkey hotspot as war rages
Dozens of Western countries have banned Russian planes from their airspace while some carriers operating flights to Russia have had...Dozens of Western countries have banned Russian planes from their airspace while some carriers operating flights to Russia have had their insurance policies cancelled
Some Turkish holiday operators have cited the impact of Western sanctions when cancelling the plans of their Russian clients
Saudi economy grows 3.2% in 2021, the highest rate in 6 years
Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product,...The economy expanded in 2021 by the highest annual rate since 2015
The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent
UAE citizens can travel visa-free to Israel
Israel has announced that all UAE citizens can now travel visa-free to Israel. The move is part of a wider...Both vaccinated and unvaccinated tourists of all ages are permitted to enter Israel upon presenting a negative PCR test before departure and after arriving in Israel
The announcement follows a recent agreement between the UAE and Israel extending visa-free entry to all UAE nationals as part of the ongoing strategic partnership between them
Fed set to raise interest rates to rein in inflation
The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19...The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19 pandemic
Russia's invasion of Ukraine has introduced new uncertainty in an economy battered by supply chain snarls and labor shortages
Jordan to provide facilities to its businessmen in China
Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China.Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China
He added that the work is underway to develop a strategy to draw foreign investments in priority sectors, especially in industry, tourism, information technology and health sectors
Warsaw seeks NATO ‘peace mission’ to help Ukraine
Polish Prime Minister Mateusz Morawiecki again called on the EU to "very quickly give Ukraine candidate status".Polish Prime Minister Mateusz Morawiecki again called on the EU to "very quickly give Ukraine candidate status."
Ukraine's deputy PM has praised "the courage of the true friends of Ukraine" as the Prime Ministers of three countries arrive to show support
Oil prices plunge on China lockdowns, stocks diverge
Oil prices plunged on Tuesday as China, a major energy consumer, placed nearly 30 million people under COVID lockdown, and...China reported 5,280 new COVID-19 cases on Tuesday, more than double the previous day's tally
"China oil demand risk is real," Dickson said, adding that a strengthening dollar also pressures crude prices since oil is traded in dollars
Skills gap challenge for GCC digitization, says du CEO
GCC companies should work closely with digital and software companies to expedite digital transformation, says Fahad Al Hassawi, CEO of...du is the second largest telecom service provider in the UAE, and its 2021 revenues grew by 5.4% to $3.19 billion
Agility will be key to the telecommunications industry and requires telecom operators to look beyond connectivity, says al Hassawi
UAE disburses $2.17bn in insurance expenditure among beneficiaries
UAE’s estimated insurance expenditure reached more than AED8 billion ($2.17 billion) in 2021 an increase of AED499.4 million in comparison...The number of pensioners in Sharjah amounts to 6,692 (26 percent), while the number of pensioners in Dubai is 5,892 (23 percent).
At 16,597 (65 percent) female pensioners outnumbered male pensioners who totaled 8,786 (35 percent).
Egypt and Lockheed Martin look to boost defense ties
Egypt and American Defense company, Lockheed Martin, have discussed ways to enhance cooperation.Mohamed Ahmed Morsi, Egypt’s minister of state for military production, held talks with Raymond Piselli, vice president of Lockheed Martin
Morsi noted that Egypt’s growing presence in the field of security and defence is the result of economic reforms undertaken by Egypt
