‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...Economy Uncategorized
UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...Business Economy
Dubai introduces ‘electronic notary public’ after amending the law
Dubai has introduced an automated system that performs the duties of the notary public without human interference and does away...The automated notary public has been introduced as part of Dubai’s smart government transformation.
Companies providing notary public services are now required to inform Dubai Courts about licensed individual notaries public working in the company.
Lebanese currency drops to new low, pound trades 25,000 to dollar
The new record, topping a previous low of more than 24,000 earlier this week, adds to the troubles of the...The new record, topping a previous low of more than 24,000 earlier this week, adds to the troubles of the newly-formed Lebanese government
With the currency losing more than 90 percent of its value in two years on the black market, the purchasing power of Lebanese is plummeting
Dubai ranks first in Arab world in Innovation Index
The report also highlights that 2014 saw the launch of the first Dubai Innovation Index, which was the first-of-its-kind city...The report, entitled The Road to Recovery through Resilience and Innovation, examined 39 cities
Singapore and Hong Kong maintained their first and second places on the Index respectively
AD Ports Group and Turkiye Varlik Fonu sign partnership agreement
AD Ports Group and Turkey’s Turkiye Varlik Fonu signed a strategic partnership agreement to collaborate on major investment opportunities for...The partners will collaborate on major investment opportunities for port development and operations.
The two organizations will also collaborate in establishing a joint steering committee to assess all investment opportunities.
Qatar approves draft social security and military retirement laws
Qatari cabinet has approved draft social security and military retirement laws aimed at establishing "an effective social protection system for...The draft laws call for expanding the scope of insurance coverage to include all citizens working in the public and private sectors.
The draft laws recommend that the minimum pension shall not be less than QR15,000 ($4,119).
Doha workshop promotes Qatarization policy in private sector
The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee.The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee
The ministry would ensure Qatari employees’ rights are protected and that they are not subjected to abuse by their employer
UAE announces $10 billion fund for investments in Turkey
Erdogan greeted Sheikh Mohammed on the ceremonial blue carpet at the presidential palace in Ankara on Wednesday before they went...The fund's aim was "to support the Turkish economy and boost bilateral cooperation between the two countries," the official Emirati news agency WAM said
The main focus of the fund will be on "strategic investments", especially in sectors including energy, health and food, WAM reported
Syria eyes visitor resurgence, especially from Europe
Syria is an important destination for Shiite pilgrims, and has continued to welcome visitors from Iran, Iraq, and Lebanon during...Syria is home to several UNESCO world heritage sites that were very popular with tourists before the war
Most sites were damaged by more than 10 years of a conflict, but restoration work was undertaken
Help lower oil prices, IEA urges OPEC
The head of the IEA has called on OPEC and its allies to take measures to help bring oil prices...OPEC nations and their allies, including Russia, agreed in July to slowly increase their oil output each month towards pre-pandemic levels
This comes as the world economy recovers from the Covid-19 pandemic
Lebanese currency sinks to new low on the black market
The Lebanese pound sank to a new low on the black market Wednesday, with no end in sight to the...The new record, topping a previous peak in July, comes as the government fails to resolve a diplomatic crisis with Gulf countries.
The World Bank estimates Lebanon may need almost two decades to recover its pre-crisis per capita GDP.
