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...
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.
Oil demand to top pre-pandemic level next year: OPEC
The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering demand.
$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions by cutting the need for trucks and cars.
Egypt’s exports leap up 49 percent to $3.61bn
Egypt’s exports recorded a nearly fifty percent jump to $3.61 billion in June 2021, as a compared to $2.94 billion in the same month last year, official data showed.
Bahrain’s value of indigenous exports rises 103%
The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to BD190 million ($505.32 million) in August 2020.Oman’s actual revenues fall 20 percent to $22.1bn
Oman has suffered a sharp decline in its total actual revenues, falling a staggering twenty percent to $22.1 billion in 2020.Saudi Arabia posts 1.8 percent GDP growth in second quarter
GASTAT announced this increase while making public the country’s GDP and National Accounts report for the second quarter of 2021. It said this positive growth resulted mainly from the increase in the non-oil sector by 8.4 percent. The private sector recorded a positive growth rate of 11.1 percent, and the...Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of power.
UAE to spend $6.53bn to create 75,000 jobs
The United Arab Emirates (UAE) intends to spend some $6.53 billion over the next five years in order to create jobs for 75,000 Emiratis in the private sector.
UAE investors behind Bahrain’s $492m tourism investment
Investments from UAE-based property developers helped Bahrain’s tourism sector remain buoyant during the pandemic.
Iran needs more than $1 billion to improve roads
Iran plans to improve the condition of the major freeways and highways, and expand the country’s freeways network to 10,000 kilometers.
‘Third mass exodus’ feared in Lebanon as crisis worsens
Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it, and this percentage is the highest among all Arab countriesChallenges ahead for Lebanon’s new government
Formed after 13 months of political deadlock, tackling the country's worst ever economic crisis ought to be the new government's priority.
Assets under GCC SWFs grow 10% to US$2.77trn
The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices and COVID-19 shock.
Iraqis saddest people in Arab region: Report
Political, economic and social crises in the Middle East countries has led to an implosion of negative emotions among their citizens.Saudi Arabia eyes investment opportunities from Germany
The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).Mikati seeks global support to revive Lebanon
The country no longer has the money needed to support its economy, says the new Prime Minister Najib Mikati said in a TV interview.Tehran to issue 20 million more Justice Shares
Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization efforts.Iran’s mega housing project faces infra hurdles
The one-million housing project is part of Iran’s plan to provide a total of six million houses for its underprivileged population.
Saudi, UAE lead MENA region in 5G deployment
The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to the latest Ericsson Mobility research.
Saudi e-invoicing scheme to come into force in three months
Saudi Arabia’s e-invoicing project, Fatoorah, will come into force in a little under three months, according to Zakat, Tax and Customs Authority (ZATCA).Egypt eyes $1bn investments as Africa Finance Corporation member
Egypt, the most populous nation in North Africa, has already seen some investments from the AFC.IMF’s SDR allocation to benefit rich MENA nations
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.Lebanon finally launches cash subsidy cards
Lebanon’s caretaker minister of social affairs announced the cash cards on Thursday, saying they would benefit 500,000 families.
Egypt’s inflation leaps up to 5.7 percent in August
Egypt's annual urban consumer price inflation rose to 5.7 percent in August, up from 5.4 percent in July, official statistics agency CAPMAS reported on Thursday, a 17 month high.GCC in hot pursuit of 2050 emission goals
The GCC nations are looking at the $500-billion market for Green Hydrogen by 2050, but will it be enough?
Iran mulls preferential trade agreement with Lebanon
The director-general of the Iranian Trade Promotion Organization’s Office of Arabian and African Countries has said Iran is in talks with Lebanon for an FTA.HNWIs drive up luxury car sales in Gulf region
Being home to most of the high net-worth individuals in the Middle East, Saudi Arabia, the UAE and Qatar are natural markets for major luxury car brands.
Bitcoin in El Salvador: How will it work?
Bitcoins are loaded onto digital wallets and accessed via a mobile app. To download the wallet, one needs a Salvadoran ID documentUAE, Qatar least hit by graft in MENA region: Survey
Across the MENA region, years of corruption has left countries woefully unprepared to face the COVID-19 pandemic
Belt and Road Initiative in GCC: A deep dive
The relations between the Arab world and China have touched new highs particularly after China launched the Belt & Road Initiative project in September 2013.
Iran spends $620m to mechanize agriculture
That amount reportedly equals 87 percent of the total budget allocated to a credit line for agricultural mechanization.
In world first, bitcoin becomes legal tender in El Salvador
El Salvador has become the first country to introduce bitcoin as legal tender, with high demand forcing a freeze of its online cyber "wallet" system on Day 1. Under the initiative of President Nayib Bukele, Salvadoran consumers can now legally use bitcoin -- along with the US dollar -- to...
Asian markets lifted by recovery hope, Tokyo breaks 30,000
While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.
Aramco Q2 net income $25.5 billion, up by 288 percent
The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19 restrictions.
Saudi non-oil revenues jump 206%
The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2 2020.Cyprus becomes safe haven for fleeing Lebanese
Since the start of the crisis in 2019, several thousand Lebanese have emigrated, many of them to Cyprus.As economy slumps, Turkey turns on migrants
Turkey turned into the home of one of the world's largest migrant populations when it struck a deal with Brussels to help resolve Europe's 2015-16 refugee crisis
Egypt’s foreign reserves leap up to $40.67bn in July
Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July, the central bank said on Monday.
UAE economy forecast to grow 4% this year
The United Arab Emirates has forecast for its economy to grow by more than four percent this year, a level higher than previously forecast.
Iran gives free electricity to 10m users
This happened as part of a program aimed to change the attitudes of household consumers towards the proper use of energy resources.Oman launches laboratory for food security
The laboratory falls within the framework of the "Invest in Oman" program.
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi nationals.
GCC equity markets shine in H1 2021
The growth was spurred by abundant liquidity created by easing monetary and fiscal policies besides a rebound in oil prices.
Social cost of 2019’s plastic more than GDP of India
There is increasing international alarm over the sheer volumes of fossil-fuel based plastics entering the environment, as microplastics have infiltrated even the most remote regions of the planet. Tiny fragments have been discovered inside fish in the deepest recesses of the ocean and peppering Arctic sea ice.
Saudi output growth dips to weakest level in 10 months
Saudi Arabia’s output growth dipped to the weakest level for ten months amid a slowdown in new business gains.
UAE posts fastest job growth in three years
The UAE has recorded a sharp growth in employment for the first time in more than three years, with a rebound in economy fueled by non-oil private sector growth in August.
Syria agrees to help Lebanon get gas, electricity
The country has said it is ‘ready’ to help Lebanon with ‘transit for Egyptian gas and Jordanian electricity via Syrian territory’.
Bahrain cuts truck wait duration by 15 times
Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.Three in four in Lebanon are living in poverty: UN body
That number goes up to 5 out of 6 people when one redefines poverty beyond the usual fiscal lines and adds social indicators to it.
