Turkey wants joint cooperation with Iraq regarding the exchange of products, its Minister of Agriculture and Forestry Bekir Pakdemirli said. "Turkey is in the process of cooperating in all fields with Iraq, whether agricultural or other," said Pakdemirli to the local media. He noted that his country suffers during this...

The debt deferral agreement has been signed in line with the G20 initiative of 2020 led by Saudi Arabia which was in regard of debts deferral owed by the poorest countries.

The credit ratings agency has said the prospects for global economic growth have softened, even if it was to a modest extent.

The data was released on Thursday, February 10, by the country’s General Authority for Statistics (GASTAT).

Saudi Aramco, the oil company, will establish a coffee center in Jizan while using "advanced irrigation techniques to improve agricultural capacity".

The UAE is the most competitive emerging market in GCC and the third most competitive on a global scale after China and India, according to the annual Agility Emerging Markets Logistics Index. The UAE led all 50 countries in the Index in creating the best business conditions and in the...

When temperatures plunged well below freezing in Ankara and energy prices soared, Dondu Isler had to make a tough choice to both stay warm and keep her soaring utility bills down. She turned off the heating in two bedrooms of her apartment. "Only the living room and the kitchen were...

The Cypriot government says the divided country has the highest number of first-time asylum applications in the European Union per capita.

Qatar Industrial Manufacturing Co. has reported a net profit of  $38m for 2021 in comparison to net profit of $23m for the same period of the previous year.

The Ministry of Hajj and Umrah announced an update in the procedures for entering Saudi Arabia for Umrah, which is one of the key non-oil sources of income for the kingdom. This is done to ensure the health and safety of the Umrah Performers and visitors, the ministry said. Based...

The World Defense Exhibition (WDE) declared that its first edition will be held in Riyadh, Saudi Arabia, from March 6-9, 2022, according to media reports. WDE is a leading global event on defense and security. The exhibition will begin with an opening ceremony that includes live demonstrations of the capabilities...

The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared to the corresponding period of 2020, and hiring activity will continue to strengthen in 2022, said recruitment specialist Cooper Fitch. Job creation across the region was driven primarily by a...

Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the prescribed criteria.

Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts.

Saied has pushed the country down a dangerous route back towards autocracy, says critics.

Lebanon’s Fuel Distributors Representative Fadi Abu Chakra has confirmed that "there is no diesel oil crisis" in the country. The rumors of oil crisis started to circulate after a ship carrying 42 thousand tons of diesel met with a marine accident due to strong winds near the Amchit coast. Abu...

Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East.

Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags from 1 July 2022. The tariff will be implemented in all stores across Dubai including, but not limited to, retail stores, textile and electronic stores, restaurants, pharmacies, online and e-commerce...

Foreign exchange and gold reserves come in handy in many ways when a country is trying to ride out an economic crisis.

Turkey has lifted the ban on importing scrap metals from Lebanon, which could secure about $100 million annually for Lebanon, according to Minister of Economy and Trade, Amin Salam. Salam said that during his meeting in Ankara with Turkish Trade Minister Mehmet Muş, Interior Minister Suleiman Soylu and Foreign Minister...

This is a revision of an earlier proposal to divide into three companies.

Every month of border closures has cost businesses an estimated US$2.6 billion, according to the Australian Chamber of Commerce and Industry

From solar farms to wind energy, the infrastructure is being put in place at varying paces by GCC nations.

The forum aims at discussing concepts of smart cities and their relations to improving the quality of life.

The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th March, 2022, local media reports said. A total of 475 international researchers, and experts, from 42 countries are likely to attend the conference. Minister of Tolerance and Co-existence Sheikh Nahyan...

Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37 percent, and $28.6 billion in 2019, according to S&P Global Ratings In 2021, while the global sukuk issuance reached $$147.4 billion compared with $$148.4 billion in 2020, foreign-currency denominated sukuk...

A group of engineers in Lebanon held a sit-in protest outside the Central Bank branch in Sidon, in conjunction with similar stands outside BDL’s branches in Beirut and other regions.

The approval came at a meeting chaired by the council’s chairman Sheikh Ahmed bin Saeed Al Maktoum.

Kais Saied has concentrated all executive power since July 25, when he dismissed his Prime Minister and suspended parliament.

The hallmark of the Gulf sultanate, the long and elegant robes Dishdashas, have fallen prey to rising hemlines and elaborate embroidery, with some wearers also going for multicolored designs.

The political groups, now mainly based abroad, have seen their influence wane in recent years as Iran and Russia steadfastly supported the Syrian president after he launched a deadly crackdown on protesters in 2011 that quickly descended into civil war.

Compared to Europe and US, cyber insurance is a profitable proposition for GCC firms due to amenable market factors such as low litigation environment.

Iran has confirmed that Russia will invest $83.58 million in Sirik power plant based in southern Iran.

Iraq is keen to benefit from the Egyptian Investment Authority, the Governor of Iraq’s Central Bank Mustafa Ghaleb said on Friday.

The consortium partners comprise QatarEnergy, Shell and National Petroleum Corporation of Namibia "NAMCOR".

Jordan is looking to reform its old tax system in order to pave way for growth in national economy. In this regard members of the Jordan Economic Forum (JEF) presented many ideas during a virtual JEF dialogue session held recently.

The expert group will conduct an independent review with a view to identifying how the Fund can ensure it has in place effective channels for complaint, dissent and accountability.

From oil prices to company stocks buoyed by positive results, several factors resulted in changes in key benchmark indices.

The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5 billion annually by 2030, up from $5.4 billion in 2020.

More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city state hosting the Expo world fair announced Thursday. Dubai has since October 1 hosted Expo 2020 which runs until March 31.

Oman has signed three agreements RO 94 million ($244 million) with the Saudi Fund for Development (SFD) for supporting SMEs and infrastructure development. The first MoU dealt with supporting small and medium enterprises (SMEs) through a soft loan portfolio of RO 57.6 million catering to SME projects in governorates. The...

The net of non-Jordanian investments during January 2022 showed a negative value of JD5 million ($7.05 million).

Lebanese officials began talks with the IMF last month to pull the country out of the worst economic crisis in its history. Despite the economic collapse, Lebanon’s ruling class has blocked reforms that foreign donors say must happen before aid is dispensed.

GCC countries appear to be reaping the benefits of their efforts this year, with all indications pointing to the economies making significant progress.

The Middle East Energy Event (formerly Middle East Electricity) will be held at Dubai World Trade Center from 7th-9th March. The event will address the future of the energy transition and discuss the opportunities surrounding green hydrogen in the region, local media reports said. According to a report by consultancy...

A total of 98 new economic activities have been added to several sectors of Dubai in 2021, bringing the total number of economic activities to more than 2,200. In 2020, the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET), Dubai, had added 52 new...

The Abu Dhabi National Oil Company (ADNOC) has announced the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni, indicate between 1.5 – 2 trillion standard cubic feet (TSCF)...

Independent data collected by Turkish economists suggested that the annual rate of inflation rose to more than 110 percent in January.

The two countries discussed reducing obstacles facing the two-way flow of imports into the countries and enhancing trade and economic relations.

The fresh investments are said to be in line with Vision 2030, which aims to diversify the economy of Saudi Arabia, lessening its dependence on oil.