KHAN YUNIS, PALESTINIAN TERRITORIES - One of the last grain warehouses in the Gaza Strip has been damaged by Israeli strikes and a key flour mill in Khan Yunis -- where hundreds of thousands have fled -- has stopped working for lack of fuel.The store, also in Khan Yunis in the...

Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent months.

Riyadh, Saudi Arabia - Global credit agency Fitch Ratings has reaffirmed Saudi Arabia’s Public Investment Fund's (PIF) long-term foreign- and local-currency issuer default ratings at "A+" with a stable outlook. In its assessment, Fitch highlighted the PIF’s robust financial autonomy and its critical role in bolstering Saudi Arabia’s non-oil gross...

RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the countries in accordance with a clear policy to build positive relationships based on respect, cooperation and common interests.The Kingdom's interest in establishing relations with the Caribbean Community (CARICOM) stemmed from...

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In this regard, Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, met Roman Panov, the President of the Russian GEOTEK company, a...

Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities in the spheres of trade, finance and economy.Mahdi Safari, Iran's Deputy Foreign Minister for Economic Diplomacy hosted the Deputy Minister of Foreign Affairs of the Russian Federation and the country's special envoy for BRICS affairs Sergey...

According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become the world's largest LNG importer. The US became the top LNG exporter in 2023. The IEF's secretary general said that demand for LNG has grown and continues to "enhance energy...

DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent when compared to CPI of September 2023.Compared to CPI of October 2022, on a year on year(Y-o-Y) basis, an increase of 2.52 percent has been recorded in the CPI of...

Riyadh, Saudi Arabia -- Saudi Arabia's consumer price index experienced a slight decrease in October, dropping to 1.6 percent from 1.7 percent in September, according to the latest official data.The General Authority for Statistics (GASTAT) reported that this decrease in inflation was primarily due to a 0.8 percent reduction in...

Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic, propelled by strong growth throughout the first three quarters of the year and anticipation of an exceptional surge in guest numbers in the final quarter.DXB commenced the second half of...

Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its power shortfall.The Islamic republic's minister of energy said the electricity grids of Iran and Russia would be connected, adding that feasibility studies for the connection via the Republic of Azerbaijan’s...

It posted a 189% jump in revenue in Q3 to US$1.15bn.

Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently available on the Internet and confirms in an official statement that the copies are spyware that will expose users to danger.Google continues to work on Bard tools, which are its...

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security agencies to maximize value through acquisition systems, announced signing of nine deals worth $1.27 billion with local and international companies on day 1 of the Dubai Airshow 2023.The announcement was...

Vienna, Austria--The UAE's non-oil economic activities continued to see robust performance and are expected to extend healthy development into 2024, the Organisation of the Petroleum Exporting Countries (OPEC) said.In its OPEC Monthly Oil Market Report for November 2023, the organisation anticipated the upward trend in non-oil activities to continue supporting...

Dubai, UAE--ENOC Group will reach more than one billion gallons of jet fuel sales at the end of this year by supplying more than 153,000 commercial, military, and general aviation flights around the world.The company made the announcement on the sidelines of the 18th edition of Dubai Airshow, which is...

SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate, amounting to US$980 million (AED3.6 billion) in trade value and involving 8.2 million square feet, the Sharjah Real Estate Registration Department said in a report.  This surge reflects a substantial...

Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in September, according to data released by the Central Bank of Egypt (CBE) on Sunday.The monthly core inflation rate rose to 1.8 percent in October compared to 1.1 percent in September...

Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General Jasem Mohamed Albudaiwi.The secretary general stressed that the GCC Ministerial Council, which held its 155th session in March this year, resumed the strategic dialogue with Türkiye, and adopted the Joint...

DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense industries, will begin here on Monday.Under the theme ‘The Future of the Aerospace Industry’, the 18th edition of the event, which runs till November 17, will see industry trailblazers and...

DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce transparency within the real estate market and promote adherence to relevant laws and regulations.The official list of accredited companies and valuation offices is available on DLD’s official website (dubailand.gov.ae) and...

Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on the sidelines of the Saudi-African summit in order to enhance business ties with them.The Saudi-Chadian roundtable meeting was held yesterday, in the presence of the President of the Republic of...

Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization (UNESCO) to join the country and its group of friends to lead climate efforts on the occasion of the UAE hosting COP28 in Expo City Dubai from 30th November to...

PARIS, FRANCE -  A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the Royal Commission for Riyadh City, responsible for the Kingdom's bid to host the World Expo in 2030.The event took place in Meudon on Monday in the presence of representatives from...

Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development have signed a protocol of health and technical requirements for imports of cattle, sheep, and goat meat.The protocol aims to accredit the regulatory body in South Africa by the SFDA...

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance the city's resilience.

The company posted an operating profit of US$1bn.

VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of Benin to strengthen the technical and professional competences of the country’s workforce.The Ouidah Djougou Vocational Training Schools Project will support the transformation of the technical high schools in Djougou and...

Dubai, UAE – Dubai government on Thursday approved several initiatives to stimulate the industrial sector in the emirate besides announcing incentives for the agricultural technology sector, and a policy banning single-use plaThe initiatives to boost industrial sector is in line with the goals of the Dubai Economic Agenda D33 and...

The final orderbook of the green sukuk closed at $2.6 billion.

The bump in subscription came amid its cost-cutting campaign.

Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in Bahrain.The MoU signed during the 6th China International Import Exhibition held in Shanghai, will enable Export Bahrain and Alibaba.com to leverage their respective strengths and expertise to facilitate trade, reduce...

Sharjah, UAE-- In a groundbreaking move to strengthen ties with burgeoning markets in Africa, the Sharjah Exports Development Centre (SEDC) is spearheading a trade mission to Uganda and Kenya. This strategic venture aims to bolster economic and investment cooperation, paving the way for a new era of business opportunities.Under the...

Doha, Qatar - The International reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged by 11.73% in October 2023 to reach $67.04 billion, compared to $59.97 billion in October 2022.The figures issued by QCB on Wednesday showed an increase in its official reserves at the end of October...

Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property prices and rents to highs not seen in recent years.

It posted a five-percent decline in revenues to US$367m.

Amman, Jordan - Jordan's government has signed two deals with the German KfW Development Bank to secure a financial package totaling $140 million to develop its water sector.The deal was signed between Jordanian Minister of Planning and International Cooperation Zeina Touqan, and the German Minister of Economic Cooperation and Development...

The company recently reported a net loss of US$4.9bn in Q3.

Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8 billion figure that had been published previously.According to SPA, the updated figure is a result of a new framework methodology for publishing FDI data in the kingdom which was adopted...

Dubai, UAE-- The UAE is a key market for French businesses due to its strategic location as a hub and gateway to the entire region, said Axel Baroux, the French Trade Invest Commissioner to the UAE and the Regional Director of Business France in the Middle East.Speaking to the media...

The UN called for an overhaul of the global financial system to help the world's poorest countries and their struggle to fill "enormous financial gaps". A report from UNCTAD highlighted how multiple crises, from the Covid pandemic to soaring inflation, and declining foreign direct investment have hit poorer countries particularly...

ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Islamic Treasury Sukuks (T-Sukuks).This is part...

Beijing, China - The International Monetary Fund on Tuesday raised its 2023 economic growth forecast for China, citing stronger consumption and recent policy measures announced by Beijing.After a tough year for the world's number-two economy, there have been flickers of life in recent weeks, with third-quarter expansion coming in more than...

GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an uncertain economic outlook is weighing on further growth, says the World Intellectual Property Organization report.Even as global filings for trademarks and designs dropped, innovators from around the world submitted 3.46...

The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.

Its revenue stood at US$323m in the first nine months of 2023.

Ajman, UAE-- The Department of Economic Development in Ajman (Ajman DED) has reported an 11 percent growth in the total number of economic licenses issued during the third quarter of 2023.According to a report published by Ajman DED, professional licenses came in first place with 51% of the total licenses,...

Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid and credit "hovering around $80 billion a year" to low and middle-income nations. The United States, in contrast, has provided $60 billion to such countries a year. "Beijing is navigating...