Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in KEZAD. The automated 10-hectare facility will leverage advanced agricultural technology...

The drop in exports was bigger than expected and the heaviest since a 17.2 percent plunge in January-February 2020, when the economy came to a standstill in the early weeks of the Covid-19 pandemic. Apart from a brief rebound in March and April, exports have been in constant decline since...

The Qatari company's net profit for H1 stands at US$211.26m.

The company suffered a net loss of US$0.79 million.

Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of the service it provides to customers.The plan seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future.The strategy...

The oil company's profits fell sharply to US$30.08 billion.

Its net profit jumped 1.1 percent to US$178 million.

Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until the end of June 2023, as compared to the same period in 2022, when the total amounted to 25.60 billion cubic meters.Statistics issued by the National Center for Statistics and...

Jeddah, Saudi Arabia-- More than 40 representatives of countries from around the world gathered in Jeddah, pledging to continue holding consultations that could pave the way for peace in Ukraine and end the deadly war.A meeting was held in Jeddah for national security advisors and representatives from over 40 countries...

Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa to travelers from eight newly-eligible countries: Albania, Azerbaijan, Georgia, Kyrgyzstan, Maldives, South Africa, Tajikistan, and Uzbekistan.Nationals of these countries can apply for a Saudi visitor visa ahead of their journey...

Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance through financial empowerment, sustainability, innovation and future foresight, financial leadership and sustainable development.Deputy Ruler of Dubai and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who launched...

The investments are expected to localize partnerships.

Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to official figures.However, foreign trade data issued by the Department of Statistics (DoF) indicated that the national exports to Egypt in the first five months of 2023 dropped to reach nearly...

Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power plant in the Central American country.In this connection, the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, today signed a loan agreement with the Prime Minister...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said.During June, Japan's total crude oil imports were 68.5 million barrels, of...

BUENOS AIRES, ARGENTINA- The Argentine government said it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion.The credit operation would allow Qatar to lend Argentina Special Drawing Rights...

A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001. Federal Reserve governor Michelle Bowman said she supported the policy-setting Federal Open Market Committee's decision for a rate hike...

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday.He was answering a...

Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a survey to evaluate consumer satisfaction in the e-commerce sector in response to the growing volume of e-commerce transactions.These efforts come from the Information Systems Directorate and the Consumer Protection Directorate,...

Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the...

Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's biggest non-nuclear explosions rocked Beirut. So far nobody has been held to account for the tragedy as political political and legal pressures hamper the investigation.

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues to attract talented Emiratis to meet its business needs, recruiting an additional 22 Emiratis during the review period, according to FANR 2022 Annual Report.It provides long-term career opportunities for Emirati...

Real estate sector remains one of the key business verticals.

Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to strain the region's finances, data and analytics company GlobalData said in its Global Risk Report Quarterly Update -- Q1 2023. The region's risk score went up from 54.3 out of...

Crude oil is the main revenue source for Libya, which has been torn by more than a decade of stop-start conflict, involving foreign powers and a myriad of militias, since a NATO-backed revolt toppled strongman Moamer Kadhafi in 2011. Over the past decade, Libya has been regularly plagued by clashes...

The main activist group representing families of those killed has called for a protest march on Friday afternoon, converging on the port. On Thursday, 300 individuals and organisations including Human Rights Watch (HRW) and Amnesty International renewed a call for the United Nations to establish a fact-finding mission, a demand...

RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of 2023, the finance ministry said on Thursday.Saudi Arabia, the world's top oil exporter, recorded a budget surplus of almost $30 billion in 2022 as the high prices of the fossil...

Acquisition aims to diversify and expand into several sectors.

The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more than a two-year era of ultra-low interest rates. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent...

The German airline's net profit climbed to US$964m in Q1.

Both Saudi Arabia and Kuwait renewed "their previous and repeated calls to the Islamic Republic of Iran to negotiate" the demarcation of their maritime borders to settle the issue, according to the statement carried by the official Saudi Press Agency (SPA). Recent attempts to revive negotiations have failed.

Users who registered with the Worldcoin cryptoproject in Kenya were offered 25 free Worldcoin tokens worth about 7,000 shillings ($45), drawing thousands of people to multiple sign-up points in the capital Nairobi. Interior minister Kithure Kindiki said authorities were "concerned" by the project and launched investigations to ascertain "the safety...

The Qatari gas firm's net profit rose to US$213m in H1 of 2023.

Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the World Trade Statistical Review 2023, issued by the World Trade Organization, while trade in goods exceeded pre-pandemic levels already in 2021, trade in services caught up in 2022. China remained...

The net profit rose to US$39.21m in H1 of 2023.

The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic sectors, with a particular emphasis on economic partnerships, investment and development opportunities, and other key areas aimed at fostering sustainable development and prosperity in both countries.

Its net profit vaulted to US$132 million in the first half of 2023.

On July 11, Prime Minister Mohammed Shia al-Sudani announced that Iraq would start paying for Iranian gas with oil, as a way of circumventing the complicated mechanism. "Work is continuing with the American side concerning unpaid bills, which have fallen to 9.2 billion" euros ($10 billion), Sudani told reporters at...

Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to deepen the overall partnership between the two countries.In this regard, King Abdullah and Cyprus President Nikos Christodoulides met on Tuesday at Al Husseiniya Palace, and discussed enhancing cooperation in various...

SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone for the construction of a new library in the University of Sarajevo here.The funding for construction and equipping of the library has been through a generous US$22 million grant provided...

Revenue jumped $12.3 billion to $36.9 billion.

Despite the drop, BP hiked dividend.

Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by the Gulf state's sovereign wealth fund. He has signed a three-year deal after completing his move from Liverpool. The 29-year-old was left out of Liverpool's pre-season squads for trips to...

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data released by the government.The kingdom's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million over the same period in 2022.According to...

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

Dubai, UAE - The International Data Corporation (IDC) has forecasted that the Middle East will spend $3 billion on AI in 2023, with this figure expected to more than double to $6.4 billion by 2026. CEOs in the region are recognizing the significance of AI for their businesses, with over...

New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in the week, including from Apple and Amazon.After a strong first half of 2023, US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon...

Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at the central bank's next policy meeting in September, saying "there's nothing off the table.""Thus far we're on the golden path and we've got to walk that line," Chicago Fed president...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies.The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment,...

The fighting between Fatah and Islamists in the camp, which erupted overnight and subsided by the evening, killed a Fatah military leader and four of his colleagues, the secularist movement said. A ceasefire was agreed from 6:00 pm (1500 GMT) during a meeting of Palestinian factions including Fatah, also attended...