UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...Economy
‘Major shifts are reshaping the Arab world’s future’
"Most of the global trends are positive if analyzed in terms of economic value. Countries have developed and lifted millions...Economy
Workers go on strike in Turkey as inflation sinks lira deeper
Soaring inflation in Turkey has propelled a wave of strikes unlike any the country has seen since the 1970s, as...Supermarket warehouse worker Bekir Gok was sacked this month -- alongside 256 of his colleagues -- for demanding an extra four Turkish liras (30 US cents) per hour
Turkey's annual inflation rate officially reached 48.7 percent in January, and workers have struggled to keep up with the sky-rocketing cost of living
Palestine exports rose 23% y-o-y in December
The rise in exports was 7 percent when compared to November of the same year.Exports to Israel increased in December by 12 percent compared to November
Exports to other countries decreased by 19 percent during the same period
QAIA saw passenger traffic grow 161% in January
Passenger and aircraft movement and air cargo traffic at QAIA remained far lower than pre-pandemic levels.Aircraft movements grew to 4,630 in January, 127.2 percent up from the same period last year
Air freight traffic also reached 4,048 tons in January, 13.6 percent up from the same period in 2021
Aramco is targeting investment in China : CEO Amin Nasser
Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco...Aramco is holding initial talks with partners, including the state-owned defense contractor Norinco.
The talks were reportedly about the development of a $10 billion refining and petrochemicals complex in China.Â
UAE trades $22.8 bn worth of rough diamonds in 2021, hits top spot globally
UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in...Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centers in India.
Since 2015, the UAE has increased its rough diamonds trade by 76 percent, overtaking Belgium as the world’s leading rough trade hub
Gas prices ‘in God’s hands’, producers warn as Ukraine crisis sparks surge
Major gas exporting nations said Tuesday they could not guarantee prices or supplies at a summit overshadowed by the worsening...Emir of #Qatar', which hosted a summit, said #gas producers were working to ensure "credible and reliable" supplies.
The United States has asked Qatar to help Europe if supplies are cut, but its Energy Minister Saad Sherida al-Kaabi said that his country could not rescue Europe alone.
Oil nears $100 as Western powers prepare sanctions against Russia
The jump in oil prices is compounding worries about inflation around the world, with the US Federal Reserve coming under...That has in turn battered equity markets in recent months, and the latest developments out of Europe led to another day of hefty selling on Tuesday.
Russia's recognition of the breakaway regions of Ukraine will "strongly increase" economic uncertainty for the EU, its economy commissioner Paolo Gentiloni said.
Fitch says outlook on Moroccan banks’ operating environment stable
Fitch Ratings has upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB), one of the five Moroccan banks whose...Fitch upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB).
Five banks, which account for nearly 77 percent of Morocco's banking system assets were reviewed by the ratings agency.
4% growth in new companies registered in Ajman Free Zone in 2021
The record shows 1,792 newly registered companies in the zone, testifying to the increased investor confidence in the services provided...The record shows 1,792 newly registered companies in the zone, testifying to the increased investor confidence in the services provided by the emirates.
The growth is attributed to the competitive advantages offered by AFZ such as the strategic location, advanced infrastructures and modern facilities.
Financial corruption hinders Gulf economic model
Beside Covid-19 pandemic, many countries in the region face war and conflicts. A robust economic system necessitates an effective strategy...Many Middle Eastern countries face rampant political corruption and the recycling of corrupt positions, says Transparency International
The UAE is considered the least corrupt Arab country in 2021; however, its score decreased by 2 points from 2020, according to the "Corruption Perceptions Index 2021"
