In June, the government passed the budget for 2021-22, which projected spending of US$ 76 billion and a deficit of US$ 40 billion.

The process of supplying Lebanon with electricity is expected to begin in early 2022.

The 25 percent reduction would equal to a dip of 37 Mat CO2 eq by 2030, according to national figures, and is expected to include various sectors such as oil and gas, power and water, transportation, and construction. This will reportedly be achieved by employing a variety of policies and...

Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh this week.

Kuwait has also urged other members to follow suit so that the UN can do its tasks properly.

According to the Chinese statistics, there are over 4,000 Chinese-funded enterprises in the UAE. In 2020, the bilateral trade reached the U.S $49.176bn even during the pandemic, up 0.9 percent year on year.

The emirate is expected to see a growth of around 2.5 percent between 2021 and 2024.

Libya had been mostly off-limits to tourists throughout the four-decade rule of Moamer Kadhafi

The UAE will explore investment opportunities in the space economy and space tourism services besides other related ventures with Blue Origin, an aerospace manufacturer and spaceflight service company. In this direction, Abdullah bin Touq Al Marri, Minister of Economy, along with Dr. Ahmad Belhoul Al Falasi, Minister of State for...

The finance ministry lowered its 2021 budget deficit target to 5.5%-5.7% of gross domestic product from 6.8% due to higher-than-expected tax revenues, reflecting a rapid economy recovery. It projects a 3.9% deficit in 2022.

Pepsico, Deloite, Siemens, Haliburton, KPMG, PwC, Novartis and OYO are among the companies that will establish their regional headquarters in Riyadh.

Jordan’s Minister of Agriculture had a meeting with a World Bank official and a minister of Ukraine.

Eight oil storage tanks and five other tanks for oil and chemical products were damaged and were leaking, while the transformer of the power supply system was also knocked out.

Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan.

People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists.

The Lebanese central bank has opened a credit line of $60 million for medicine importers.

World Bank has warned that rising energy prices will stoke inflation in many emerging markets and developing countries.

The expenditure is expected to improve socio-economic conditions for Israel’s Arab minority, which has long complained of marginalization.

The UAE's Ministry of Economy has signed an agreement with LinkedIn for developing a framework for skills-based talent besides identifying, attracting and retaining talent in the Emirates. This agreement is geared towards UAE Strategy for Talent Attraction and Retention in three areas--developing a comprehensive introductory framework for talent based on...

The Chinese firm has restarted work on 10 projects.

The market, which reportedly aims to promote Bahrain’s agricultural products and highlight the development taking place in the country’s agricultural sector, is returning after a one-year hiatus caused by the Covid-19 pandemic. It will be held at the Budaiya Botanical Garden in December.

On Saturday, Erdogan announced that he had ordered his foreign ministry to expel the envoys for seeking the release of businessman and philanthropist Osman Kavala, who has been imprisoned for four years without being convicted. This triggered the steep fall in Lira already reeling from the Turkish central bank's policy...

Non-oil exports of Saudi Arabia vaulted 26.8 percent to SR23 billion in August, compared to SR18.1 billion in the same period of last year.

The announcement came on Sunday, October 24, a day after Saudi Arabia announced the exact same goal.

Al Ghurair said that the strong Q2 financial results of the UAE banks was an indication that the banking industry is back on the growth path following the decline in Covid-19 pandemic

The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract FDI.

The Hatta master development plan is said to be aimed at developing Hatta, an exclave of Dubai, into a tourist spot that will also serve as a local and international destination for business and investment. It is expected to be implemented as part of a five-year development plan in the...

The Kingdom has implemented measures and worked on significant improvements as part of its Vision 2030 to diversify sources of revenue.

Lebanon’s Information Minister George Kordahi has said that the country needs $1 billion to bring up the value of the Lebanese pound against the dollar. He acknowledged the fact that the demand for dollars is high, especially since diesel fuel is sold today in dollar terms.

The FAO and Jordan’s National Center for Agricultural Research have signed a cooperation agreement in this regard.

At the Saudi Green Initiative forum, the Gulf country has also vowed to join a global effort to reduce methane emissions by 30 percent by 2030.

The Meeting will focus on a number of key themes, including investing in the infrastructure for tomorrow such as cross-border connectivity, green financing, resilient healthcare infrastructure and the role of global multilateral institutions in contributing to supporting projects based on ESG principles.

The destination will include a Formula 1 racing trajectory, a Six Flags Theme Park, a water park and sporting venues like football grounds, and a large selection of cultural, creative, and artistic activities.

The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is expected to grow by 5.1 percent next year.

The designation by the Paris-based Financial Action Task Force threatens to further limit foreign direct investments -- already standing at a fraction of the inflows Turkey had received when its economy was enjoying robust health a decade ago.

About 61% of the UAE consumers are opting for cards or digital wallets instead of paying in cash, a joint study by Dubai Economy and Visa has pointed out.

Kuwait International Airport will gradually operate commercial flights for all aviation companies.

Dubai Electricity and Water Authority (DEWA) signed a slew of MoUs with local and international companies at the ongoing GITEX Technology Week. DEWA, its digital arm Digital DEWA, and other DEWA subsidiaries signed the agreements aimed at strengthening the integration of the next-generation technologies in utilities in Dubai and the...

The Iranian banking system has paid 12.41 quadrillion rials (over $295.49 billion) of facilities to domestic economic sectors in the first six months of the current Iranian calendar year (March 21-September 22). This is 57.9 percent higher than the amount in the same period from the previous year.

Turkey's central bank cut interest rates for the second successive month on Thursday in what economists interpreted as confirmation of its loss of independence from President Recep Tayyip Erdogan. The bank cut its policy rate to 16 from 18 percent despite soaring inflation and a depreciating currency. The lira extended...

An agreement has been signed to build capacities to establish a sustainable national accounting system in Jordan.

Dr. Sultan Al Jaber said that the national effort to develop the UAE’s industrial sector through the UAE Industry 4.0 program is designed to increase industrial productivity by 30 percent and add AED25 billion to the GDP in the next 10 years. The program is a key pillar of UAE’s...

The banknotes were badly damaged after the coffers were engulfed in groundwater during offensive to take Mosul from the jihadists.

Customers can try on and buy entire collections of eyeglasses, lipstick, nail color, jewelry, and even garments by using augmented reality (AR) applications.

The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in the poverty-stricken nation. Subsidies were gradually phased out over the past few months to shore up diminishing foreign currency reserves.

Signs of progress on US President Joe Biden's massive spending bill provided an extra lift to sentiment

In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest ones, boasting multiple vehicles. Since 2019, however, an ever-worsening financial crisis has made petrol unaffordable for many and long queues at gas stations unbearable for the rest.

The kingdom’s goal is to support small farmers, develop rural agriculture and assist the local development of the food product manufacturing sector, says expert.

Although Dubai is set for a ‘modest’ recovery this year on the back of a high vaccination rate in the UAE and fewer Covid restrictions, but a slower rebound in international tourism could be a drag on the economy until the end of 2022.

The agreement is part of the UAE’s endeavors to strengthen and activate means of economic and investment cooperation globally.