Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...Economy
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.Company News Business Banking & Finance Economy
Transformation will propel MENA economy: IMF
Major economies in the MENA region have already got the ball rolling when it comes to diversifying their economies.Jihad Azour, Director of the Middle East and Central Asia Department at IMF, has said the economic recovery of the region is affected by several factors
However, the region needs to rely on an agenda of transformation policies to continue down the path of economic recovery
UAE and Australia discuss ways to strengthen bilateral relations
The deliberations were held during a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International...Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with David Hurley, the Governor-General of Australia, at Expo 2020 Dubai.
The two sides reviewed Australia's participation in Expo 2020 Dubai and the role played by this international event.
Eight biggest GCC sovereign wealth funds
Sovereign wealth funds across the world invest trillions of dollars into real estate, bonds and other assets. TRENDS takes a...More than $1.3 trillion of funds are managed by some of the biggest sovereign wealth funds in the GCC.
These funds invest in global real estate, financial assets, bonds and private equities.
DEWA spends $16.33 million to extend water transmission pipeline
Dubai Electricity and Water Authority (DEWA) has completed 54.23 percent of the extension of several key water transmission pipelines in...The network spans over 22 kilometers and the diameter of pipes is 1200mm.
The project location runs from Al Quoz Industrial Fourth to Al Thanyah Fifth, alongside Al Khail Road in Dubai.
Tunisia, Algeria, Morocco must support their local agriculture: OTE
The rise in international raw material prices has increased subsidy spending in Tunisia, Algeria, and Morocco.The Tunisian Observatory of Economy has recommended that Tunisia, Algeria, and Morocco support local agriculture, especially cereal cultivation
This step, it said, would help the three countries avoid being at the mercy of price volatility on a global scale, and recover their food sovereignty
Italy re-elects Mattarella as president, averts political chaos
Mattarella has already served a tumultuous seven-year term, during which he has sought to be a unifying figure through five...Italy's political parties Saturday voted overwhelmingly for outgoing President Sergio Mattarella to remain for another term
The former constitutional court judge had repeatedly ruled out serving for a second term but gave in as the parties failed to find another candidate
Turkey president threatens journalists for ‘harmful content’
Turkish President Recep Tayyip Erdogan has threatened legal action against media houses.Turkish President Recep Tayyip Erdogan has threatened news media over content that is 'incompatible with national and moral values'
He has also sacked the justice minister and chief of the state statistics agency after it published official data that showed high inflation
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.The President of the American Chamber of Commerce in Jordan (AmCham) Mohammad Batayneh said in a statement
He added that Jordan's exports during the first 11 months of 2021 nearly reached $2.5 billion, compared to $1,120 billion in imports
Erdogan sacks top official for high inflation figure
Turkish President Recep Tayyip Erdogan has sacked the head of the state statistics agency, according to a decree published Saturday,...Sait Erdal Dincer was just the latest in a series of economic dismissals by Erdogan, who has sacked three central bank governors since July 2019
Erdogan has railed against high interest rates, which he believes cause inflation -- the exact opposition of conventional economic thinking
UNICEF: Lebanese crisis forcing youth out of learning
Lebanon’s crisis is increasingly forcing young people to drop out of learning and engage in ill-paid, irregular and informal work...The report – Searching for Hope – says that more than 4 in 10 youth in Lebanon reduced spending on education to buy basic food, medicine and other essential items
Enrolment in educational institutions dropped from 60 percent in 2020-2021 to 43 percent in the current academic year
