COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...Business Economy Climate Change
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...Economy Climate Change
GCC seeks to tap green hydrogen demand
The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
GCC countries have plenty of space, sunshine wind energy in some areas
Inflation in Saudi Arabia leaps to 0.4 percent in July
Owing to higher prices in the transport sector, Saudi Arabia's consumer price index rose 0.4% in July from a year...CPI rise stemmed from higher prices in the transport sector
There was also an increase of 1.2 percent in food and beverages
A lot is at stake for poor in Tunisia
The country's economy is witnessing deterioration as sources of income decline, unemployment rises to 18 percent and rising debt necessitates...Lifting subsidies is a risky decision that could spark public unrest
The number of poor and vulnerable people will rise from 16.7 percent to 20 percent
UAE’s Operation $300bn eyes more M&As
The strategic merger between Arkan and Emirates Steel Industries highlights the focus of the UAE's new industrial initiative 'Operation $300bn.'The UAE government wants to raise the industrial sector’s contribution to the GDP from US$36.20bn to US$81.66bn by 2031
The strategy is aligned with national goals and international commitments relating to advancing sustainable economic growth, deploying clean energy solutions
Lebanon’s bank chief vows no forex raid to fund fuel unless law changed
Lebanon's central bank governor has vowed not to reverse his decision to stop subsidising fuel imports, unless parliament votes to...The country's Foreign exchange reserves have dwindled in recent months to now stand at $14 billion
Earlier this week, the central bank had said it would no longer subsidise fuel imports
Saudi Arabia starts $3.4bn infrastructure projects in Tabuk region
The projects in the Tabuk region will include initiatives related to housing, transportation, environment, and agriculture.The Tabuk region is currently the epicenter of quite some activity, like the building of a substation for the Green Duba power plant
Tabuk City also happens to be a hub for tourists who wish to explore the northern parts of Saudi Arabia
OFID lends Jordan $70m to boost economy
The loan is expected to be used to provide for stimulus packages to for workers and create new jobs.The loan will support the creation of some 14,500 jobs in the forestry and tourism sectors
It will also promote the employment of fresh graduates in the ICT sector, and strengthen the staffing of healthcare institutions
Lebanon’s fuel crisis deepens as leadership brawls
As the fuel crisis worsens in Lebanon, the country's leadership appears to be at odds over how to end the...Dwindling fuel supply has plunged Lebanon into extended blackouts and long queues for petrol and bread
This week the central bank announced an effective end to fuel subsidies that have drained the reserves at a time when Lebanon is in a state of financial collapse
Iran may need to import 8m tons of wheat
Iran is currently suffering a drought that has led to water protests in several regions, most so in the Khuzestan...Iran’s wheat production exceeded 14 million tons in the previous Iranian calendar year 1399
However, this year Iran may need to import as much as 8 million tons of wheat
Saudi Arabia to penalize artificial lakes in farms
The country has said it will take legal action against the construction of manmade or artificial lakes in farms for...The Ministry of Environment, Water, and Agriculture said any such construction would be deemed ‘a violation of the water bylaws and the relevant executive regulations’
The laws and regulations it pointed to are aimed at preserving water resources, ensuring their sustainability, rationalizing water consumption, and preventing its misuse
