US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...Economy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...Economy
Sharjah Chamber posts growth in membership in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...The number of membership renewals in 2023 hit 55,087 across industrial, commercial and professional sectors.
Free zone memberships stood at 1,795, while exports and re-exports were valued at approximately US$8.9 billion.
Saudi Arabia, Swiss Fund unveil billion-euro initiative for zero-emissions investments
Riyadh, Saudi Arabia - Saudi Arabia and Swiss Fund have decided to initiate financing initiatives in the debt market in...A substantial portion of this investment, approximately $1.8 trillion, is expected to be financed through bids aimed at attracting global investors from Switzerland and beyond
Apart from investments in zero-emissions projects, the collaboration extends to the insurance industry, which is poised for significant growth in the coming years
OECD predicts rise in global economy amid Middle East ‘risk’
The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk,...The OECD now expects a 2.9 percent expansion, up from 2.7 percent in its previous forecast in November, as it sharply lifted the outlook for the US
While inflation is falling in major economies, "it is too soon to be sure that underlying price pressures are fully contained", the OECD added
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Turkey’s inflation 65% in Jan, piles pressure on central bank
Istanbul, Turkey - Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped...The year-on-year inflation rate moved to 64.86 percent -- up a notch from 64.77 percent in December, the TUIK statistics agency reported
The monthly inflation rate in January climbed to 6.7 percent, from 2.9 percent in December, following a 49-percent rise in the minimum wage in January
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...During Q4 2023, 19 IPOs raised US$4.9bn in proceeds. ADES Holding Company raise the most funds and contributed 25% to the overall IPO in Q4.
Saudi Arabia dominated IPO activity in the region with 14 of the 19 listings in Q4 2023. ADES was the biggest with US$1.2bn in proceeds.
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
GCC ministers hold discussion on food security in the region
Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from...The GCC secretary-general said that food security in the GCC countries receives great attention from the leaders of the GCC countries
He lay stress on involving all sectors of Gulf society, including the government, private sector, and civil society, to tailor the strategy
GCC leaps into healthy aging with tech and policy
In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says...In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says an expert.
With the UAE leading in longevity research and AI revolutionizing healthcare, the region is on a promising path to ensure longer, healthier, and more fulfilling lifespans.
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.
