‘Gulf-Korea FTA marks historic economic milestone’
"The implementation of such free trade agreements follows directives from GCC leaders aimed at strengthening economic ties with other countries...Economy
Dubai real estate sales near record $109bn in 2023
Dubai, UAE -Â Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...Economy
Egypt’s plasticware exports rose by 43% in 2021: Trade minister
Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted...Chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted in 2020
In 2021, the Egyptian exports recorded their highest growth of $31 billion despite the ongoing Covid-19 pandemic
UNWTO optimism to cheer up MENA tourism
While the likes of Egypt, Morocco, Tunisia, and Jordan depend heavily on tourism for revenue, the UAE and Saudi Arabia...UNWTO Executive Director Zoritsa Urosevic has said that the ‘future is bright’ for the tourism sector
Tourists ‘will come back’ and the industry will recover from the pandemic because it is ‘very resilient,’ she said
Gulf ministers visit China amid energy fears
The officials from Saudi Arabia, Kuwait, Oman and Bahrain, as well as secretary general of the Gulf Cooperation Council (GCC)...The officials from Saudi Arabia, Kuwait, Oman and Bahrain, as well as secretary general of the GCC Nayef bin Falah al-Hajrah, will be in China until Friday
Recent unrest in oil and gas-rich Kazakhstan has raised concerns in China, which has long invested heavily in its central Asian neighbour's energy industry
IMF warns developing countries of ‘economic turbulence’
Emerging economies should gird for possible rough times as the US Federal Reserve prepares to raise interest rates and world..."Risks to growth remain elevated by the stubbornly resurgent pandemic," IMF economists Stephan Danninger, Kenneth Kang and Helene Poirson wrote in a blog post
The highly contagious Omicron strain has spread like wildfire around the world since mid-December, causing record numbers of new Covid cases
Dubai ruler issues six decrees regulating Dubai Chambers
Dubai has passed legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The...The legislations include a decree establishing Dubai Chambers as a new entity that replaces the Dubai Chamber of Commerce and Industry
The legislations also enable Dubai Chambers to map out a clear vision for the future by adding more roles and powers
Oil prices jump as unrest continues in Kazakhstan
Over the week, crude prices gained about 5 percent and on Friday Brent exceeded $83 per barrel.Kazakhstan is the largest oil producer in central Asia with a twelfth of the world's proven reserves, and produced around 1.8 million barrels a day in 2020
The country is also the second largest oil producer in the OPEC+ group of top oil producers, behind Russia
Saudi Arabia GDP to gain in 2022: Kuwait Financial Center
Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth.Markaz’s report indicated that investments are expected to pick up as the government initiates major projects like Neom City
Steady population growth, government subsidies, and the enacted mortgage law are enabling banks to finance home purchases, fueling the growth in the residential sector
Protesters behind national blackout in Lebanon, says power company
Lebanon experienced total blackouts after demonstrators stormed a key substation and tampered with the electrical equipment.Protesters disconnects a 150-220 kilovolt power transformer and opened circuit breakers connecting the Zahrani power plant which caused blackout
The disruption will pressure on private generators which already struggles to keep up with the near-total absence of state power
Iraq signs project to reduce carbon emissions
The emission reduction is expected to take place through upcoming contracts in solar energy field.Iraq will reduce emissions by the solar energy project in 2025
Iraq looks to produce 12,000 megawatts of solar energy by next three years
Dubai, Malaysia discuss cooperation in tourism sector
The Emirate and the visiting Malaysian minister discussed the initiatives that would enhance the industry.The Emirate and the visiting Malaysian minister discussed the initiatives that would enhance the industry
The Malaysian market is considered as one of the important emerging markets for Dubai
