Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...Economy
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...Economy
Careem faces flak over random price hike
People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few...An increasing number of people in the UAE are complaining about Uber and Careem's high charges
The fares, it is claimed, have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists
Iran blames cyber attack as fuel supply hit
Details of the attack and its source are under investigation, state TV added, without giving further details.Details of the attack and its source are under investigation, state TV added, without giving further details
Tuesday's disruption had an unprecedented impact because it blocked the IT system that allows Iranians to fill their tanks for free
Tunisia: Investment in services reach $252m in nine months of 2021
Tunisia has witnessed an investment of 713.4 million dinars ($252 million) in service activities during the first nine months of...The investments will be mobilized under 6,464 projects and will create 22,053 new jobs.
Services directed to the local market (96 percent of overall investment declarations) saw a 3.1 percent increase.
Sharp recovery to see Middle East box office revenue cross $800m in 2021
Box office revenue in the Middle East made the fastest recovery in the world, from $250 million in 2020 to...The revenue is expected to continue to rise, reaching $1 billion in 2022 and $1.3 billion in 2024, research has shown.
Only 261 of the 3,099 screens in the Middle East and Africa were closed due to the pandemic.
UAE economy resilient, overcame many global challenges: RAK Properties CEO
The UAE was among the first countries to return to normalcy after the pandemic and is currently hosting Expo 2020...RAK Properties investments reach AED15 billion, engaged in several real estate sectors.
Expo 2020 will especially have a major impact on tourism and real estate sectors, Al Tair said.
Lebanon to soon give medicines for chronic, incurable disease for free
The Lebanese central bank has opened a credit line of $60 million for medicine importers.Around three-fourth of Lebanon now lives in poverty because the Lebanese pound has lost more than 90 percent of its value since November 2019
As a result, there have been massive shortages of commodities like fuel, medicine, and even food
DP World reports container volume growth of nearly 12 percent in Q3
The gross volume growth was mainly driven by Asia Pacific, India, Australia, and the MENA region.In Q3, DP World handled 19.8 million TEU, up 8.1 percent year-on-year basis.
The near-term outlook remains positive, but the company expects growth rates to be moderate in the final quarter, said CEO Ahmad Bin Sulayem.
World Bank warns high energy prices could stoke inflation
World Bank has warned that rising energy prices will stoke inflation in many emerging markets and developing countries.The bank has raised its forecast for average oil prices to $74/bbl in 2022 from $70/bbl in 2021 projected previously in April
Prices of non-energy commodities like metals and wheat are also projected to remain at elevated levels
Sharjah Sustainable City builds on green concept
The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future...The project extends over an area of 7.2 million square feet of land in the Al Rahmaniyah area of Sharjah, supporting the urban development of the Emirate
The city is designed to cover all three elements of sustainability - social, economic, and environmental
Israel approves $10bn to improve conditions in Arab sector
The expenditure is expected to improve socio-economic conditions for Israel’s Arab minority, which has long complained of marginalization.The plan was approved by Prime Minister Nafatli Bennett's government late on Sunday
It calls for $9.35 billion to be spent over five years to "close the gap in the Arab sector" compared with conditions in the Jewish community
