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.

More than 340 Japanese companies have their bases in the UAE working in various sectors including infrastructure, industry, and energy, a UAE official said.

Iraq is struggling to transform hundreds of palaces built and used by former dictator Saddam Hussain.

The new tax -- to be implemented in the UAE from 1 June 2023 -- comes at a time when speculations are rife that other Gulf countries might also impose taxes on economic sectors.

The Digital Cooperation Organization (DCO) has announced the launch of the DCO Startup Passport to make it quicker, easier and less expensive for startups to do business across borders, local media reports said. This opens up potentially lucrative markets with a combined population of more than half a billion people...

Tamkeen, a semi-autonomous Bahraini agency, has said that the “Skills Bahrain” initiative is all set to be launched in the country. "Skills Bahrain" is the first comprehensive national initiative aimed at establishing professional standards for vocations and professions in Bahrain. It meets the rising demand for qualified nationals across a range...

The island's economic woes have left thermal power generators unable to keep the lights on, as traders run desperately low on foreign currency to fund imports.

UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts the inflation rate at 2.5 percent year-on-year and at 0.02 percent in December 2021 compared to November. A report from the Federal Competitiveness and Statistics Centre said the rate of...

The 23 members of the OPEC+ oil cartel, who meet on Wednesday, are expected to stick to their guns and increase output modestly as the price of crude surges. As in January, analysts expect the taps to be opened slightly, to the tune of an additional 400,000 barrels per day,...

Iraqi Prime Minister Mustafa Al-Kadhimi has directed contracting with investment companies to build infrastructure in the areas where residential land will be distributed as part of the Dari initiative. The Iraqi General Secretariat of the cabinet confirmed this on Tuesday. "The process of handing over plots to those covered by...

Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO.

The Sharjah Chamber of Commerce and Industry (SCCI) has seen off another season of the 48-day "Sharjah Shopping Promotions" campaign. It resulted in an increase in the sales of the participating malls and stores, and lucrative profits for the retail sector and other business sectors. The volume of purchases throughout...

Bank of Palestine (BOP) and Proparco in cooperation with the EU have jointly announced the signing of Sunref II Green Program after successfully completing Sunref I, local media said. The purpose of SUNREF Green Finance Program is to provide solutions to promote energy efficiency and renewable energy projects for the...

The United Arab Emirates and the UK have agreed to develop trade and economic relations between the two countries.

India will have its own digital currency starting 2022-23, Finance Minister Nirmala Sitharaman said while announcing the country’s budget for the upcoming financial year that begins April 1. The Central Bank Digital Currency (CBDC) would be issued by the Reserve Bank of India, the country’s central bank.

For the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.

The annual meetings set to take place in Morocco will be held in Washington.

The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could collapse.

dnata, the global air and travel services provider, will invest more than $223.22 million in a fully automated cargo center at Amsterdam Airport Schiphol (AMS).

The UAE’s Ministry of Finance will start levying a 9 percent tax on business profits from June 1, 2023 thereby putting an end to tax-free culture that enabled the country to lure businesses from around the world. The UAE has been looking to reduce its dependence on revenue earned from...

IEA said the demand for natural gas is expected to fall sharply in Europe and slow in Asia. Gas demand rebounded last year as the world economy recovered from the Covid pandemic and restrictions were eased, while an unusually cold winter also drove up consumption.

The organization is integrating the Ferry Operations Branch of the Integrated Transport Center under the scope of its services.

Major economies in the MENA region have already got the ball rolling when it comes to diversifying their economies.

Dubai Electricity and Water Authority (DEWA) has completed 54.23 percent of the extension of several key water transmission pipelines in Dubai with a cost of about AED 60 million ($16.33 million) spanning over 22 kilometers with a diameter of 1200mm. The project location runs from Al Quoz Industrial Fourth to...

The rise in international raw material prices has increased subsidy spending in Tunisia, Algeria, and Morocco.

Mattarella has already served a tumultuous seven-year term, during which he has sought to be a unifying figure through five different governments and the devastation of coronavirus.

Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.

Lebanon’s crisis is increasingly forcing young people to drop out of learning and engage in ill-paid, irregular and informal work just to survive and help feed their families, UNICEF said in a report released Saturday. The report also indicates that 31 percent of young people are not in education, employment,...

The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by 394.5 ktonnes.

The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness Yearbook.

Moroccan ports have recorded a significant evolution of overall port traffic, which has risen from 172.1 million tons in 2020 to 192.1 million tons in 2021, an increase of 11.6 percent. According to a statement by the Ministry of Equipment and Water, domestic traffic recorded a volume of 111.5 million...

Murat Cetinkaya, who was appointed to the role in April 2016, has been replaced by Murat Uysal, according to the decree published in the official gazette.

France's economy grew at its fastest pace since 1969 last year, official data showed Friday, enjoying a strong rebound from coronavirus lockdowns fueled in part by massive government support.

A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat. It warned there were "concerns of negative spillovers to the broader economy and global markets".

Dubai Metro has eliminated about 1 billion private-vehicle journeys, yielded monetary benefits worth AED115 billion and reduced carbon dioxide emissions by 2.6 million tons from Sept 2009 to the end of 2020, said Mattar Mohammed Al Tayer, Chairman of the Board of Executive Directors of the Roads and Transport Authority...

The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence.

A government statement published by the country's official MAP news agency said that the ban would end on February 7.

The UAE has introduced a "NAFIS" program to foster positive competition among UAE nationals, and enable them to take job opportunities in the private sector. The Emirati Talent Competitiveness Council (ETCC), in cooperation with the Federal Youth Authority, organized an event in the Youth Pavilion at Expo 2020 Dubai to...

The significant increase in the UAE’s industrial exports coincided with 220 new facilities commencing production in 2021, said Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber. These facilities benefit from the UAE’s strategy aimed at raising industrial sector’s contribution to the GDP from AED133 billion to...

Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the challenges of climate change.