Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for local and international investors. The opportunities are part of the fifth round of mining competitions for exploration licenses and encompass gold, copper, zinc, lead, and silver ores in various regions...
Israel’s budget passes first hurdle in parliament
The budget proposal was approved in August by the coalition government of Prime Minister Naftali Bennett
UAE’s non-oil trade with Arab countries hits AED191bn in H1
The non-oil trade between the UAE and Arab countries grew 29 percent to AED191 billion in the first half of this year, from AED148 billion in same period of 2020, a UAE minister said while addressing the 108th meeting of the Arab League’s Economic and Social Council.
UAE announces 50 national development projects
The projects are expected to lay the foundations for further growth of the UAE.
IsDB launches $100m fund in Uzbekistan
The $100-million fund, mainly supported by Saudi investors, will target 34 micro, small, and medium enterprises.
Gulf, Asian markets hurt amidst concerns about Chinese economy
The sentiment gets a jolt after Chinese regulators gives dressing down to ride-hailing giant Didi Chuxing and ten other car platforms in the latest move against tech firms.Colonial-era architectural heritage at risk in Tunis
Built by Italian and French architects and businesspeople, such buildings are associated with colonialismWhat can central banks do to address climate risks?
While not directly involved in addressing global warming, central banks do have to be alert to its impact on the economy and the financial system.
Iran may see power-supply problems in winter
The Energy Ministry could face serious problems in meeting electricity demand in winter if power plants did not get fuel
Lebanon crisis may fuel bread shortage
The Lebanese flour millers' association has said mills might gradually stop working as fuel supplies run out. This, when the average cost of food for a Lebanese family is already five times the minimum wage.Lebanon’s ‘new poor’ pull children out of private school
Since 2019, Lebanon's financial meltdown, one on the planet's worst since the 1850s, has decimated the country's middle class
Kuwait loses $4b per year to corruption: Expert
According to Transparency International, Kuwait in 2020 ranked 78 out of 180 countries in the Corruption Perception Index.
Sports sector adds $1bn to Dubai economy each year
The growth in the sector is a result of the Dubai community’s increasing interest to participate in sports activities over the years.GDP of OECD economies up by 1.6 percent in Q2
Despite the rise in the GDP of the Organization for Economic Co-operation and Development (OECD) economies to 1.6 percent in Q2 2021 from 0.6 percent in the previous quarter, it still remains below pre-pandemic levels.
Syrian workers head home as Lebanon collapses
The World Bank has already called Lebanon’s economic crisis one of the worst in the world since the mid-1800s.
US stocks continue to advance
The S&P 500 and Nasdaq advanced after posting records at the close of trading Friday
Saudi net foreign assets dip by $4.4bn in July
Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.Saudi exports leap up 40 percent to $6.2bn in June
Saudi non-oil exports recorded a 40 percent jump, the highest-ever monthly level, in June 2021, touching $6.2 billion.War-weary Libyans yearn for end to daily blackouts
In the decade since the NATO-backed overthrow of longtime dictator Moamer Kadhafi, repeated outbreaks of fighting have caused heavy damage to the power distribution networkIraq’s Mosul struggles to rebuild without funds
Mosul, the country's second city in Nineveh province, was the last major Iraqi bastion of the Islamic State group's failed "caliphate" between 2014 and 2017S&P, Nasdaq end at records following Powell speech
At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark
Saxo Bank reveals a 200% spike in UAE female investors
Women now make up almost 12 percent of Saxo Bank’s active clients for the marketLebanese delegation to seek help from Syria, Jordan, Egypt
The delegation will discuss the possibility of receiving electricity from Jordan and gas from Egypt through Syrian territories.Egypt’s economy capable of facing challenges: Sisi
The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.
Jadwa says Saudi economy to fare better
Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the blows of the coronavirus pandemic.
Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent between 2021 and 2023.Nasdaq, S&P 500 again end US trading at records
The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive recordRaisi says economy, Covid response ‘does not befit’ Iran
He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
Emirates allows Beirut travelers 10kg extra baggage
Emirates said it had last year set up a humanitarian airbridge with Lebanon, dedicating flights to deliver much needed emergency relief supplies,
Mena region needs water resilience: World Bank
Without water resilience, the MENA region may see a loss of 6-14 percent of the collective GDP by 2050, says the latest World Bank report.
UAE set to rake in millions from cricket
Come November, the Untied Arab Emirates will be hosting the T20 World Cup, with as many as 16 teams expected to compete in the tournament.All projects under Saudi Vision 2030 ‘colossal’
The number and value of mega projects set to transform the country’s real estate landscape and showcase the kingdom’s vision for an ultra-modern future to the world, says Knight Frank. Neom, a project for a smart and tourist cross-border city in the far north-west of Saudi Arabia, alone will cost...Lebanon to disburse dollars to families
The decision to disburse the $246-million World Bank loan in dollars will have a significant impact on the beneficiaries.
Riyadh eyes top 10-city league with $440bn makeover
As part of its grand "Riyadh Strategy," the kingdom will give the city a complete makeover, building satellite townships, new airports, blocks of residential apartments, commercial space, a broad network of transportation, including subways, swaths of landscape covered in green, adequate supply of drinking water, and much more.
ADNOC signs $1bn deals with eight global contractors
Agreements have been signed for concept and front-end engineering design.Saudi SMES exempted from commerce register fees
Eligible for exemption are those wishing to issue a new trade register from the financial equivalent for three years and reduction for subsequent years.Prices at pump soar in Lebanon after new subsidy cut
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two monthsSaudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by 2030.Tackling Covid, reviving economy priorities: Raisi
More than 16.3 million people out of Iran’s 83 million inhabitants have been given a first vaccine dose, but only 5.4 million have received the second,
More than 4m could lose water in Lebanon, warns Unicef
Unicef is calling for the urgent restoration of power supply, which is the only solution to keep water services running.Facebook to offer business loans in India
Facebook has announced that it will join hands with an online Indian lending firm to help provide loans to small domestic businesses in order to lure more businesses to advertise on its platform.
Elon Musk announces humanoid Tesla Bot
Musk said the robot would be five feet and eight inches tall, and that a prototype would be ready next year.
US to help Lebanon procure electricity
Lebanon has been struggling with fuel shortages for a couple of months, which has led to protracted power outages.
Turbulent economy under Taliban
Ahmady explained that the Taliban would have access to only 0.1-0.2 percent of the country’s foreign reserves of $9 billion, especially given the sanctions the global community has placed on Afghanistan.
Saudi Arabia leads GCC AI healthcare race
Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring and AI expected to account for 30 percent of hospital investment.
Bahrain’s deficit dips 35 percent to $1.38bn in H1
Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared with the same period last year.
Nawal El Zoghbi snubs award over Lebanon economic crisis
El Zoghbi, one of the most famous artistes in the Arab world, announced her decision on Twitter.
Netflix rules Mideast as rivals eye content share
Arab-based platforms such as Starz Play, Wavo, and OSN have become local competitors to Netflix and gaining the ground fast as alternative sources for entertaihment.
OFID lends Jordan $70m to boost economy
The loan is expected to be used to provide for stimulus packages to for workers and create new jobs.
Lebanon leaders, central bank lock horns over fuel subsidies
In a country suffering from one of the worst economic crises in the world, this could effectively raise prices for fuel, amid its shortage.
US urges OPEC+ to pump more oil
US national security adviser Jake Sullivan has criticized the world's major oil producers over their production speed.
