Ankara, Turkey - Turkiye and European Union (EU) on Wednesday discussed the resumption of talks to modernize the customs union agreement between Ankara and Brussels.Turkish Trade Minister Omer Bolat said that his country, alongside the EU, was determined to enhance cooperation in the field of trade and economy.Following his meeting...

Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global demand and a wider slowdown.However, the pace of contraction slowed from the previous month and not as bad as feared.Overseas shipments sank 8.8 percent on-year, the customs authority said, compared...

The UN's education body UNESCO warned that public authorities were not ready to deal with the ethical issues of rolling out "generative" Artificial Intelligence programs in schools. The Paris-based body said relying on such programs rather than human teachers could affect a child's emotional well-being and leave them vulnerable to...

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.  The IMF said in a statement that...

The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing. But at the same time, rebounding strongly after the COVID-19 pandemic, global goods exports grew in 2021 and 2022 at 26.6% and 11.5%, respectively.

Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of nationalities behind new companies joining the chamber during the first half of 2023.A total of 6,717 new Indian-owned companies signed up for...

According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a year, tripling ADNOC's carbon capture capacity. No cost or timeline was announced for the venture, which will be built and operated by ADNOC subsidiary ADNOC Gas.

Cairo, Egypt-- Vowing to expand their relations to cultural, educational, environmental, and energy fields, Arab states and Japan have expressed satisfaction with the level of cooperation between the two.Dr. Abdullatif bin Rashid Al-Zayani, Minister of Foreign Affairs of Bahrain, participated in the third session of the Arab-Japan Political Dialogue chaired...

Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and financial services, according to the Qatar Financial Centre (QFC).The expansion rate was the third strongest so far in this year, according to the QFC's latest purchasing managers’ index (PMI) survey,...

Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health and prevention against diseases are set to yield long-term growth for health care sector in the country.A new study issued by Investment Promotion Agency of Qatar (IPA Qatar) indicated that...

Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar, the UAE's national oil company ADNOC and the COP28 climate talks, said the money will jump-start a pipeline of bankable clean energy projects in this very important continent.

Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user touching $270 as compared to $181 in MENA. With the game live streaming market poised to an annual growth rate (CAGR 2023-2027) of 10.08% in Saudi Arabia, esports is gaining...

The liquidity agreement is for Meeza's listed shares on QSE.

According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions rose nine percent. In July, the group failed in talks to agree that global emissions should peak by 2025 or to massively ramp up renewable energy use.

The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed on the need for Arab governments to accelerate their efforts to achieve digital transformation and shift towards a knowledge-based economy.

Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of Turkey's President, Recep Tayyip Erdogan.The president made the remarks during a meeting with with the visiting Turkish foreign minister and his accompanying delegation in Tehran on Sunday.Referring to the cultural...

The clashes broke out after pro-Ankara rebels tried to infiltrate Kurdish-held northeast Syria, killing 23 people, a war monitor said. The spike in violence comes amid days of separate clashes in Kurdish-held parts of neighboring Deir Ezzor province after US-backed, Kurdish-led fighters detained the head of a local military body...

Baghdad, Iraq--Iraq has signed an agreement with the International Finance Corporation (IFC) - a member of the World Bank Group - for the development and rehabilitation of Baghdad International Airport.Media Office of the Iraqi Prime Minister stated in a statement that the agreement, which was signed under the sponsorship of...

ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going past the half-a-trillion-dollars mark in 2022, only a few decades after the term “space economy” came into existence.Several studies by specialized global institutions indicate that the global space sector will...

Dubai, UAE -- The governments of the UAE and Brazil have launched a partnership to exchange knowledge and expertise in the economic fields, in a first-of-its-kind initiative within the Government Experience Exchange Programme.The Programme focuses on partnerships and enhancing cooperation with governments in sharing knowledge and expertise in the fields...

Miami, United States--Two convictions in the FIFA corruption case have been overturned by a US federal judge citing a recent Supreme Court ruling.Hernan Lopez, a former executive with 21st Century Fox and Argentine sports marketing firm Full Play were found guilty in March of paying bribes and kickbacks to South American...

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has pressed into service seven new 132 transmission substations in the first half of 2023, in line with its ongoing efforts to enhance the reliability and availability of the energy transmission system in the Emirate. The projects included 36 kilometres of 132kV ground...

Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by expectations of tightening supplies.A Middle Eastern country is widely expected to extend a voluntary 1 million barrels per day oil production cut into October, prolonging supply curbs engineered by the...

Tehran, Iran-- Iran and Syria have signed an agreement to connect the rail network between the two countries through Iraq.Mehrdad Bazrpash, Iran's Minister of Roads and Urban Development, made the announcement at the inauguration ceremony of the construction of the Shalamcheh-Basra railway on Saturday. "The construction of the Shalamcheh to Basra...

BEIJING, CHINA - Chinese developer Country Garden has won approval from creditors to extend a deadline for a key bond repayment, narrowly avoiding a potential default, Bloomberg reported on Saturday.One of China's biggest builders, Country Garden had racked up debts estimated at 1.43 trillion yuan ($196 billion) by the end of...

Iraq's prime minister inaugurated construction work on what is slated to become the first railway line connecting the country to neighboring Iran. The "Basra-Chalamja connection project" will link the major port city of Basra in southern Iraq to Iran's vast railway network through the Chalamja border crossing, a transport ministry...

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at ACC's headquarters ahead the end of 2023.During his meeting with Chargé d'Affairs at Iraqi Embassy, Munif Ali Hussein, ACC Head, Khalil Haj Tawfiq, said Iraq is a "key" trade partner...

Dubai, UAE-- Yemen and the US have signed an agreement to renews and extend protections for Yemeni cultural property that were put in place in 2020 on an emergency basis.According to the US State Department, the deal was signed by US Assistant Secretary of State for Educational and Cultural Affairs...

Beijing, China--China has reported robust progress in its industrial development this year, marked by significant milestones in several sectors, according to the Chinese newspaper People's Daily Online.The nation's first domestically-produced large cruise ship has wrapped up its maiden test voyage, with plans for its official naming and delivery by year's...

Tehran, Iran - Iran has reported a 15% surge in its gasoline output this year compared to last year. The boost in production has come in response to a growing domestic demand for fuel in the country. Alireza Jafarpour, Chief Executive of the Persian Gulf Star Oil Refinery, announced that the...

Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges facing the global economy.In this connection Saudi Minister of Finance Mohammed Aljadaan met in Singapore with Deputy Prime Minister and Minister of Finance of Singapore, Lawrence Wong.According to Saudi Press...

TEHRAN, IRAN  – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four months of the current Iranian year exceeded $3.6 billion, an official said.Iran exported $3.615 billion worth of non-oil goods to the ECO member states from March 21 to July 22,...

DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year 2023 recorded a surplus of US$2.7 billion (QR 10 billion).In its briefing on the actual data of Qatar's budget in the second quarter (Q2) of 2023, the ministry said that...

RIYADH, SAUDI ARABIA -  Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high productivity using sustainable and cost-efficient methods.Through these collaborative efforts SABIC aims to help reduce the carbon footprint in the agricultural supply chain, especially after the company obtained the world's first...

Beijing, China - Moody's further downgraded the credit ratings of Chinese property developer Country Garden on Thursday as the heavily indebted firm faces a crucial vote to avoid defaulting on a bond repayment.The ratings firm said it had cut Country Garden from Caa1 to Ca, indicating obligations that are "highly speculative...

DUBAI, UAE –   Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market.The UAE, which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay.This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on...

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024.In a statement to the Emirates News Agency (WAM), Bolliger shared the bank's positive outlook...

Tehran, Iran -- Iranian Foreign Minister Hossein Amirabdollahian said Thursday that discussions with Saudi authorities have resulted in constructive statements regarding assistance for Lebanon's situation."In the discussions we had with Saudi authorities, we heard constructive statements from them regarding assistance to the situation in Lebanon," Amirabdollahian stated, adding that the...

Brussels, Belgium - The annual rate of inflation in the eurozone remained unchanged in August as there was a smaller drop in energy prices, the EU's official statistics agency said Thursday.Consumer prices reached 5.3 percent in August, although there was also a slowdown in the rise of food and drinks costs.A...

Doha, Qatar--Planning and Statistics Authority (PSA) of Qatar has released the new monthly Producer Price Index (PPI) of the Industrial sector for July 2023 which is estimated at 108.62 points showing a decrease of 0.22 percent, when compared to the previous months June 2023. On Y-o-Y basis, PPI of July...

According to TASS, quoting a diplomatic source, Turkey's Foreign Minister Hakan Fidan will propose to Russia at the upcoming talks in Moscow to resume the grain deal in its original format. The source said that Turkey is all for restarting the grain corridor in its original "format involving parties to...

It will be hiked by US$79.6m through a public offering.

Sharjah, UAE--Sharjah Media City (Shams) has signed a memorandum of understanding (MoU) with Munhwa Broadcasting Corporation (MBC), the largest television and radio broadcasting company in South Korea.The partnership aims to strengthen cooperation between Shams and MBC Korea through enhanced media content business development, benefiting from the expertise and exchange of...

The global firm will provide investment banking services.

Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period, the Commerce Department said Wednesday, noting downward revisions in business investment.GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the initial...

The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth compared to the first half of 2022 and 5.4 percent more than H2 2022. Non-oil exports in the first six months of 2023 exceed the exports recorded in the whole...

Dubai, UAE--Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge.Brent crude futures for October climbed 31 cents, or 0.36%, to...

According to a report by asset management firm Janus Henderson, payouts to shareholders are expected to grow further in spite of economic uncertainty. During the second quarter payments by the 1,200 biggest public companies rose more than expected, increasing by 4.9 percent compared to the same April-to-June period last year.

Online celebrities best known for posting about video games are also dropping in unexpected plugs for gasoline stations, fuel rewards and club cards. In India, Mexico, South Africa and the United States many spots were found that promoted major oil firms such as BP, Chevron, ExxonMobil, Shell and TotalEnergies on...

Cairo, Egypt--Egypt is looking to raise $5 billion from the offering of power plants and state-owned companies from October 2023 until the end of June 2024, according to a report on the Government IPO Program by the Cabinet's Information and Decision Support Center (IDSC).The report showed that Egypt plans to...