Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...Economy Climate Change
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...Business Economy Geostrategy
Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was...The value of exports amounted to SAR106.2 billion ($28.2 billion) in October 2021, up from SAR55.9 billion in October 2020.
The share of oil exports in total exports increased from 66.1 percent in October 2020 to 77.6 percent in October 2021.
Which are priority sectors in 2022 Saudi budget?
With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors...Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil
For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone
Climate crisis puts oil in the crosshairs, but dependence persists
The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if...Fossil fuels, represent 80 percent of energy consumed, and were explicitly blamed for driving climate change at COP26
This was not the case when the Paris climate pact was reached in 2015
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.The aid included both periodic and lump-sum amount, and disbursed by the fund's management to the eligible families
Zakat performers can pay their zakat via the Zakat Fund website , offices, and collection points
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.The discussion took place in a meeting between UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan and Morocco Prime Minister Aziz Akhannouch
They are also said to have reviewed the latest developments in the Arab region and exchanged views over a number of regional and international issues of common interest
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020
Saudi index gained 0.6 percent on Thursday backed by a 0.9 percent rise in Al-Rajhi Bank
Iraq owes no more than $5bn to World Bank and IMF: Official
The economy of Iraq depends upon oil as it constitutes 45 percent of the GDP and affects about 80 percent...The World Bank loans in particular are long-term and have grace periods of about six years, extending up to 14 years
The World Bank Loans are 'similar to the interest of the London markets on dollar lending transactions'
UNRWA calls for long-term funds to help refugees in Palestine
UNRWA Commissioner-General Philippe Lazzarini has acknowledged that stagnating donor funding for close to a decade remained below the amount needed...As of now, more than 5 million Palestinians have registered with UNRWA as refugees
They are spread across the West Bank, including East Jerusalem, the Gaza Strip, Lebanon, Syria, and Jordan
Omicron surge pushes Morocco to extend flight ban
The restrictions have dealt a punishing blow to the North African country's vital tourism sector.Morocco imposed the measure to run initially from late November until December 31
This, despite a mechanism being in place for Moroccan citizens stranded abroad to come home
Jordan forms committee to modernise public sector
The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and...The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and expertise in public administration
The Prime Minister said that modernising the public sector has become a necessity as a major lever for economic reform related to modernising the political system
