Global stocks mostly rise as Trump grants auto tariff relief
Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture...Economy
Lebanon parliament approves changes to banking secrecy law
Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...Economy Geostrategy
Dubai real estate sales near record $109bn in 2023
Dubai, UAE - Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...The momentum in the real estate market in the emirate will continue during the next year, according to Walid Al Zarooni, CEO of the W Capital.
The residential real estate markets, Al Zarooni said, may remain at the investors radar during 2024 considering the latest trends in the market
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Morocco doles out aid to low-income families
The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social...Beneficiaries will receive a direct monthly payment starting at 500 dirhams ($50)
The aid to families was expected to cost Morocco $2.52 billion through 2024
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...MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.
The BMW Group's innovative electric and hydrogen vehicles, showcased at COP28, underscore a pivotal shift in the GCC and MENA regions towards a greener, cleaner future.
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Saudi Arabia jumps to second rank in ICT index among G20 nations
Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication...The index monitors the economies of 169 countries to measure their progress in ICT services through two main pillars ‘universal connectivity’ and ‘meaningful connectivity.
It reflects the robust and developed digital infrastructure, with an increase of 99 percent of Internet penetration rate in Saudi Arabia.
Kuwait’s annual inflation jumps to 3.79% in November
According to the Kuwait Central Statistical Bureau, the upward trend was mainly attributed to rising prices across all major groups...There was a 6.86% jump in the clothing group and a 3.13% rise in housing services
Culture and entertainment sectors surged by 3.54%, and education costs rose by 0.72%
‘Use AI to bridge global economic gaps, promote peace’
“To ensure AI makes ethical, inclusive, and prosperous decisions, we must educate ourselves on its workings. It’s crucial to manage...Omran Sharaf, the UAE's Assistant Foreign Minister, stresses the importance of respecting differences for proper AI development in national and regional contexts.
He underscores AI's role in technological advancement, sustainable development, and the need for an effective international AI governance framework.
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...The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.
