European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...Business Economy Geostrategy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...Economy
Gaza faces shortage of flour due to Israel-Hamas war
KHAN YUNIS, PALESTINIAN TERRITORIES - One of the last grain warehouses in the Gaza Strip has been damaged by Israeli strikes...Of the five flour mills in the densely populated Palestinian territory, at least two have been hit since the war began on October 7.
Humanitarian aid arriving via Egypt has done little to remedy the shortages, made worse by power cuts and a lack of fuel for generators.
GCC maintains stable inflation rates despite crises
Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the...Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.
The latest Kamco report offers an insightful analysis of economic trends in key Gulf countries, shedding light on their unique inflationary challenges and strategies.
Fitch maintains ‘A+’ rating of Saudi Arabia’s PIF, outlook stable
Riyadh, Saudi Arabia - Global credit agency Fitch Ratings has reaffirmed Saudi Arabia’s Public Investment Fund's (PIF) long-term foreign- and...The agency highlighted the PIF’s robust financial autonomy and its critical role in bolstering Saudi Arabia’s non-oil gross domestic product
Fitch notably expressed the far-reaching consequences of a potential PIF default, foreseeing adverse effects on Saudi Arabia's Vision 2030 goals
Dubai Investment posts profit
Its income for the first nine months of 2023 is US$816m.The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Bahrain and Russia look to boost economic cooperation
Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Qatar’s consumer price index rises by 1.08% in October 2023
DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent...Comparing the CPI of October 2023 with October 2022, an increase has been recorded by 2.52 percent on an annual basis.
The CPI of October 2023 recorded an increase by 1.48 percent when compared to the index of September 2023.
Dubai plans bigger airport as passenger traffic continues to increase
"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...Dubai Airports CEO Paul Griffiths said designs were being drawn up for Al Maktoum International Airport, which will be built on the city's outskirts
Third-quarter traffic was 22.9 million, the highest since 2019, taking 2023 numbers so far to 64.5 million, nearly 40 percent higher than the same period in 2022.
Russia-UAE economic ties strengthen with $9bn trade
The streamlined IP processes, including efficient patent registration and robust litigation frameworks, are key factors contributing to this thriving bilateral...The UAE's innovations in the oil sector offer patent opportunities in Russia.
Intellectual Property (IP) protection vital for Russian imports of UAE goods.
