Eurozone inflation rises to 2.9% in Dec mainly due to energy costs
The data supports comments by European Central Bank (ECB) chief Christine Lagarde, who has warned that Europe should remain on...Economy
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...Business Economy Tourism
Jordan apprises US delegation of trade opportunities in kingdom
A workshop held by the JCC and working meetings with a number of ministers and representatives of official entities, universities...The joint cooperation is to support economic cooperation, scientific research and joint business development
The delegation met King Abdullah, and was briefed on trade and investment opportunities in the Kingdom
Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.The Jeddah-based pharma retailer made revenues of SR8.6 billion ($2.3billion) during the year
Nahdi currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
GCC startups begin 2022 on a promising note
Digital economy has driven the startup investment upsurge in the MENA region in 2021.In 2021, more than 50 per cent of the world’s private investment funding went to startups in the United States.
The other four top countries with the most private funds invested are China, the UK, India and Germany.
Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the...The expenditure on the Msailha Dam amounted to $69.13 million, according to official figures
The same figures from the government say the amount spent on the Balaa Dam was $24 million
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.The projects include two new development initiatives in the water and housing sector
The fund has also laid the foundation stone for a project in the transportation sector
Lebanon’s ‘zombie banks’ downsize to weather crisis
More than two years into a financial crisis that has seen the local currency lose 90 percent of its value,...The financial collapse that began in Lebanon in late 2019 has been deemed by the World Bank one of the world's worst since the 1850s
However, before that the country had an oversized but prosperous banking sector, which has since come to be blamed for the economic crisis
Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin...To qualify for the Golden Residency Visa, existing residents must have stayed in Bahrain continuously for at least five years
They must also have earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the duration
UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that...The minister noted the need to increase investments in agri-tech and leverage best practices that safeguard vulnerable nations' food and water security
He was speaking at the Munich Security Conference titled "Scaling Up Climate Action" where he reiterated the UAE's support for robust climate finance
UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per...The two sides also discussed an exchange of expertize and best practices in infrastructure, housing and transport
The ministers of UAE and Hungary met on the sidelines of Dubai Expo 2020 and discussed cooperation in energy
