When both governments and international institutions are explicitly warning businesses about geopolitical risks, traditional corporate approaches to navigating international relations are no longer sufficient. The solution isn't merely better government relations or enhanced risk management; it's the emergence of an entirely new C-suite role: the Chief Geopolitical Officer (CGO), he...
Ecommerce changes GCC buyers, sellers forever
As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
Dubai launches one-stop-shop online portal for timeshare operators
Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to register and apply for permits and provide insights and guidance to customers and tourists. Local media reports said the Timeshare Portal supports the legal framework created by Dubai’s new Timeshare...
UAE and Spain discuss cooperation in renewable energy, water sectors
Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and renewable energy sectors. The two sides also discussed initiatives and programs that consolidate the transition towards a green economy and sustainability at a meeting in which said DEWA CEO Saeed...
Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was impacted by the lockdowns and the travel bans due to the breakdown of Covid-19 in many world countries. According to the international trade report for Oct. 2021, released by the...
Which are priority sectors in 2022 Saudi budget?
With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors Saudi Arabia is focusing on in 2022.
Climate crisis puts oil in the crosshairs, but dependence persists
The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5 degrees C.
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
Iraq owes no more than $5bn to World Bank and IMF: Official
The economy of Iraq depends upon oil as it constitutes 45 percent of the GDP and affects about 80 percent of the growth of the economy, contributing to 93 percent of the government’s revenues.
Abu Dhabi National Aquarium is the largest in Mideast
An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats under the supervision of marine life experts.
UNRWA calls for long-term funds to help refugees in Palestine
UNRWA Commissioner-General Philippe Lazzarini has acknowledged that stagnating donor funding for close to a decade remained below the amount needed to provide quality services. At the same time, as the refugee population continued to grow, poverty and vulnerabilities skyrocketed.
Omicron surge pushes Morocco to extend flight ban
The restrictions have dealt a punishing blow to the North African country's vital tourism sector.Jordan forms committee to modernise public sector
The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and expertise in public administration.
Asia markets climb as Covid fears recede
Studies indicating Omicron infections are less likely to result in hospitalisation have increased confidence that the pandemic will have less impact on the economy.Saudi economy set to be buoyant in 2022
The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and the gradual opening of global markets, say market research firms.Many factors shaping global economic outlook: Expert
UBP Senior Portfolio Manager Fares Benouari has predicted that 2022 would see greater exposure to ESG, automation, and fintech in investment strategies.
World Bank approves $112 million to fund employment in Jordan
Jordan’s persistently high levels of unemployment are driven by the limited capacity of its private sector to create more and better jobs. The private sector generates far fewer jobs than the number of new entrants into the labor force, and the public sector is not able to make up for...China gives celebrities 10 days to shell out unpaid taxes
China has launched a sweeping state crackdown on tax evasion and perceived immoral behavior in the entertainment industry. The move has already targeted some of the country's biggest stars, with actors like Fan Bingbing seeing her career on halt since 2018.
Breathable sand could disrupt UAE agri-sector
The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and Founder Chandra Dake.
Queues grow longer at Istanbul’s discount bread shops
The queues are a worrying sight for Turkey's veteran President Recep Tayyip Erdogan, who is trying to fight inflation by slashing interest rates, a policy that doesn't seem to be working.
Top company leaders highlight priorities for MENA governments at CEO Dialogue
Top company leaders highlight priorities for MENA governments at CEO Dialogue Leaders of top regional and international companies in the Middle East and North Africa region highlighted crucial priorities for governments and the cooperation needed with international organizations and the private sector for promoting a sustainable economy. They were speaking...UN agency says to cut food aid to Yemen for want of funds
Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.
New Dubai adventure: Eco-friendly surfing
What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea? Okahina Wave's CEO Laurent Hequily has answers.
Natural gas prices hit fresh record peaks on strong winter demand
European and UK gas prices rocketed Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key supplier Russia and consumer nations. Europe's reference Dutch TTF gas price jumped nearly 20 percent from Monday to hit 175.00 euros per megawatt hour in early afternoon trading. Meanwhile, UK...Lebanon needs $12-15 billion to kickstart recovery: Central Bank
Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said Tuesday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst...Foreign shoppers swarm Turkey after lira crash, rush likely to increase
Local traders say that the number of foreign shoppers has risen four to fivefold. Turkey's lira has crashed after Erdogan pushed the central bank to slash interest rates in fervently-held belief that this will finally cure Turkey's chronic inflation problem.How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.
China Mobile eyes Shanghai IPO
China Mobile is set to raise $7.64 billion in share listing.Is GCC inflation out of control?
The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that were affected the hardest during the Covid-19 crisis, Chief Economist at Oxford Economics Middle East, Scott Livermore, tells TRENDS in an interview.Turkish lira makes rare gains on ‘indirect’ rate hike
Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency support measures that analysts interpreted as an indirect interest rate hike. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to...Where do Arab countries stand, according to GDP?
The most common way to quantify the economic health of a country is by calculating its gross domestic product (GDP).WEF says ‘will defer’ Davos meeting over Omicron fears
The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be held in "early summer", the organizers said. Last year's edition was canceled because of the pandemic.
Israel to ban travel to US over Omicron spread
Lawmakers from Israel also approved the health ministry recommendation to bar Israelis from travel to France, Ireland, Norway, Spain, Finland, Sweden, and the United Arab Emirates.UN chief criticizes Lebanon leaders during his visit
Lebanon is in the throes of an economic meltdown that has been called by the World Bank as among the planet's worst since the 1850s. The crisis is widely blamed on nepotism and corruption among the country's ruling class.Tourism, retail to fuel Dubai economy growth in 2022
The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports. They pointed to a positive and robust recovery for the UAE economy over the next five years.
Jordan minister urges officials to expedite services for citizens, investors
Nayef Steitieh told field managers in his ministry and across governorates to also look to replace expatriate workers with those from Jordan.Turkey faces medicine crisis as currency loses value
Turkey has been rattled by a currency collapse that accelerated by President Recep Tayyip Erdogan’s last-month steps that defy conventional policies.Saudi Arabia advises citizens against foreign travel
The Saudi Public Health Authority has also announced new precautions for travelers entering the country.
OIC says Afghanistan needs full support of member states
The OIC has said its members as well as non-members need to organize and implement an immediate humanitarian assistance plan for Afghanistan.Tunisia protests on revolution anniversary as economy spirals
Many Tunisians are tired of a system that is seen as graft-ridden and ineffective, and have welcomed the protests.
Fed official sees first US rate hike in spring 2022
Fed Governor Christopher Waller said the decision announced Wednesday gives policymakers the ability to respond quickly with an increase in the benchmark lending rate, which he expects "will be warranted shortly after our asset purchases end" in the spring. Asked to be more precise about the timing, Waller said, "We'd...
US$20bn Jeddah Central Project launched
The project envisions the creation of a world-class destination overlooking the Red Sea in the heart of Jeddah.
Jordan secures €70m EIB soft loan to uplift water-use efficiency
According to a press release by the Ministry of Planning and International Cooperation, the loan is expected to benefit about 300,000 people.Saudi index shines, UAE stocks ripple
Global cues and local developments could not dampen the overall improvement.IMF examines Lebanon’s financial losses before aid program
Disagreements over the size of the losses between Lebanon's government, central bank, and banking sector contributed to the collapse last year of negotiations with the fund over a new loan program, which is seen as essential to the country's efforts to emerge from a severe economic slump.Jordan eyes investments with ICT growth
Investment opportunities also exist in IT solutions for Jordan's financial sector and enterprise solutions and emerging applications. In addition, Jordan is experiencing an influx of investment to develop software-dependent sectors such as transportation, tourism, energy, and water, the Jordanian minister adds.
OPEC Fund announces $352m for global development operations
The OPEC Fund for International Development has approved $352 million for sustainable development operations globally at the organization’s 178th Session of the Governing Board, held virtually on Thursday, media reports said. Members of the Governing Board also reviewed several milestones achieved as part of the OPEC Fund Strategic Framework 2030,...Sheikh Mohammed launches largest tourism campaign ‘World’s Coolest Winter’
UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched the second season of the World’s Coolest Winter campaign. The campaign is carried out by the UAE Government Media Office, in collaboration with the Ministry of Economy and relevant tourism and culture entities. An official statement said...Nearly 14,000 Bahraini nationals invested in UAE companies in 2020
A total of 13, 978 Bahraini nationals have invested in UAE public shareholding companies in 2020 and 331 licenses for various economic activities were granted to them, the UAE Ministry of Finance has said. The Ministry said on the occasion of Bahrain National Day that trade between the UAE and...
