UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...Economy Climate Change
Oman’s revenues drop by 17 percent in nine months of 2023
Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...Economy
Egypt’s foreign reserves leap up to $40.67bn in July
Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July, the central bank said...Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July
Foreign reserves have been rising since June 2020, after dropping to around $36 billion
Iran gives free electricity to 10m users
This happened as part of a program aimed to change the attitudes of household consumers towards the proper use of...This is part of the Power of Hope program, which entails rewarding efficient subscribers with a 100 percent discount on their bills
The Iranian Energy Ministry program has reduced the number of high-consuming subscribers across the country by 6.1 percent
Oman launches laboratory for food security
The laboratory falls within the framework of the "Invest in Oman" program.The lab is aims to design of a strategic investment program for the food security sector in Oman
This will happen in partnership with relevant governmental and private institutions, businessmen, and investors
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi...About 1.6 million establishments in the Saudi employment market are registered under the program.
Under Updated Nitaqat, the number of economic activities will be reduced to 32 from 85.
GCC equity markets shine in H1 2021
The growth was spurred by abundant liquidity created by easing monetary and fiscal policies besides a rebound in oil prices.The pharma and biotech index topped performance during H1 2021 with returns of 24.3 percent and 50.4 percent.
Abu Dhabi Exchange topped the region’s equity markets by gaining as much as 35 percent.
UAE posts fastest job growth in three years
The UAE has recorded a sharp growth in employment for the first time in more than three years, with a...Output levels increased in August due to an improvement in demand as the economy recovered from COVID-19 restrictions
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, dipped to 53.8 in August from 54.0 in July
Hyperinflation imminent in Lebanon: Nasser Saidi
A crushing economic crisis, a sharp collapse of the local currency and a bankrupt banking sector are adding to the...Lebanon's banking sector must reduce the size by at least 50 percent if not more, says senior economist Nasser Saidi
Lebanon, he says, will take 5–7 years to recover if it agreed to an IMF program within the next three months
Syria agrees to help Lebanon get gas, electricity
The country has said it is ‘ready’ to help Lebanon with ‘transit for Egyptian gas and Jordanian electricity via Syrian...Lebanon’s fuel shortage has reached such proportions that millers have warned they might have to stop making bread
Meanwhile, Unicef has said 4 million Lebanese could lose access to water as pumps run out of fuel
Bahrain cuts truck wait duration by 15 times
Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.Bahrain said it has reduced the average waiting period for such loaded trucks to just 52 minutes in the first half of August
This was in comparison to the 757 minutes — more than 12 and a half hours — in the previous years
Three in four in Lebanon are living in poverty: UN body
That number goes up to 5 out of 6 people when one redefines poverty beyond the usual fiscal lines and...Between June 2019 and June 2021, the inflation rate in Lebanon amounted to 281 percent
This led to a rise in income poverty from 25 percent in 2019 to almost 74 percent in 2021
