Saudi Arabia launches skill verification program in Egypt
Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...Economy
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...Business Economy Energy Geostrategy Global
Will corporate tax hit UAE businesses, consumers?
The new tax -- to be implemented in the UAE from 1 June 2023 -- comes at a time when...UAE is expected to generate approximately AED 25 bn ($6.8 bn) in revenue from the corporate tax.
Corporate tax rates in nations such as Germany and Japan exceed 30 percent. In Canada and China, companies pay 27 percent and 25 percent, respectively.
Digital Cooperation Organization launches Startup Passport at LEAP
The Digital Cooperation Organization (DCO) has announced the launch of the DCO Startup Passport to make it quicker, easier and...The initiative will start initially in Saudi Arabia and Nigeria, opens potentially lucrative markets with a combined population of more than half a billion.
The Startup Passport addresses the problems of SMEs challenges by reducing administrative and financial burdens and accelerating corporate registration.
‘Skills Bahrain’ set for launch, expected to meet labor market demands
Tamkeen, a semi-autonomous Bahraini agency, has said that the “Skills Bahrain” initiative is all set to be launched in the...'Skills Bahrain' is the first comprehensive national initiative aimed at establishing professional standards for vocations.
Tamkeen is implementing the project in collaboration with many governments and private sector entities engaged in education.
Sri Lanka gets $500m Indian loan to pay for oil
The island's economic woes have left thermal power generators unable to keep the lights on, as traders run desperately low...An Indian diplomat said talks were underway on another $1 billion credit line to fund urgently needed food and medicine imports from India.
Sri Lanka's economy is also seeing a scarcity of rice, automotive parts and cement, with supermarkets forced to ration some staple foods.
UAE inflation rate of 2.5 percent displays economic stability: FCSC
UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts...Rate of inflation in food and beverages stood at 3.71 percent, tobacco at 0.65 percent, clothing and shoes at 0.51 percent.
Abu Dhabi recorded an inflation rate of 0.08 percent in December 2021 compared to November, while the inflation rate in Dubai was 0.09 percent.
Top oil producers eye modest output boost as prices surge
The 23 members of the OPEC+ oil cartel, who meet on Wednesday, are expected to stick to their guns and...The cartel's prudent approach dates back to the spring of 2021 as demand recovered from drastic cuts in the face of the Covid-19 pandemic
OPEC+ has not deviated from its line despite calls in the autumn from the White House to further boost supplies to tamp down prices
Iraq confirms distributing residential lands under Dari initiative
Iraqi Prime Minister Mustafa Al-Kadhimi has directed contracting with investment companies to build infrastructure in the areas where residential land...The “residential parts will be distributed”, and service buildings will be “built from health and school centers.
During its meeting on September 22, 2021, the cabinet voted on the mechanism for the distribution of residential land.
Sanad picks new CEO
Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO.The appointment is a part of Sanad’s new plan to expand its business beyond the aerospace sector
The strategy and leadership announcements follow the launch of "Operation AED300bn" last year
Sharjah Shopping Promotions sees 40 percent more shoppers this season
The Sharjah Chamber of Commerce and Industry (SCCI) has seen off another season of the 48-day "Sharjah Shopping Promotions" campaign....The volume of purchases throughout the 48-day campaign grew by 25 percent.
Some 653 shops and stores took part in the event, offering attractive discounts of up to 75 percent on leading brands and various types of goods
Second instalment of Sunref energy program launched in Palestine
Bank of Palestine (BOP) and Proparco in cooperation with the EU have jointly announced the signing of Sunref II Green...The purpose of SUNREF Green Finance Program is to provide solutions to promote energy efficiency and renewable projects.
The program plays a crucial role in the Palestinian ecological system since energy services’ costs are high.
