Qatar rises as a premier sports tourism destination
“In addition to hosting a variety of sports events, especially the FIFA World Cup Qatar 2022, Qatar has shown the...Economy
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...Economy
Russia on nuclear alert as Ukraine fiercely resists invasion
President Vladimir Putin ordered on Sunday Russia's nuclear forces onto high alert in response to what he called ‘unfriendly’ steps...Russia invaded on Thursday and quickly announced it had neutralized key Ukrainian military facilities, but fierce fighting has since raged
Ukraine forces, backed by Western arms, are stymieing the advance of Russian troops, while the US leads Western condemnation and sanctions
WTI surges 6%, Brent 5% on Ukraine invasion by Russia
WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.Traders will closely watch an OPEC+ meeting this week, led by Russia, where they will discuss plans for further output
The group has agreed previously to increase production gradually each month, but the Ukraine crisis could disrupt it
UAE, Egypt sign reinsurance pact to bolster trade, economic cooperation
The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export...The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export relations
The broad range of trade credit insurance amongst these two entities will mitigate risks they might encounter due to various political and commercial reasons
Riyadh confirms commitment to ‘OPEC Plus’ deal with Russia
Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia Sunday, the Saudi Press Agency reported, as Moscow faces...Members of the OPEC+ oil producers' group will meet Wednesday to discuss loosening the taps -- just days after Russia's invasion of Ukraine sent crude soaring past $100 a barrel
The 13 members of OPEC proper will be joined by their 10 allies in the OPEC+ group at the teleconference meeting
Dubai Maritime City launches $38m infrastructure project
Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1...The project is part of ongoing efforts to boost Dubai’s economy and enhance the efficiency of the logistics sector
It includes developing networks for deep sewage, stormwater, fire, irrigation, potable water
Aramco discovers four natural gas fields in Saudi Arabia
The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.
The four fields where the natural gas has been found are named as are Shadun, Shehab, Um Khanasser and Samna.
Tunisia allots $10.4m to ‘social and solidarity economy’
Tunisia has devoted a budget of 30 MD ($10.4m) to the social and solidarity economy for the next three years.Minister of Employment and Vocational Training Nasreddine Nsibi said this during a seminar
The Minister stressed that the social and solidarity economy will allow the creation of new jobs
World Bank to support Iraq higher education with $5m
The World Bank (WB) announced that it would support the higher education sector in Iraq with an amount of $5...The project of World Bank will support the Ministry of Higher Education and Scientific Research in Iraq
World Bank will also help to develop centers of excellence in sectors of agriculture and renewable energy
UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion
The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Forward-looking UAE museum looks into the future
The Museum of the Future along Dubai's main highway has been touted as the 'world's most beautiful building'.Its organizers have said the visitors will be taken “on a journey of the year 2071”.
Many believe the Museum of the Future is UAE’s one more attempt to boost its soft power as a trading and tourism hub and to diversify its economy away from oil.
