Tehran, Iran-- Urging OPEC member countries to preserve cohesion and unity among them, Iran's President Ebrahim Raisi said that several Western countries were seeking to divide OPEC member states. The Iranian president made the remark in a meeting with the Secretary-General of OPEC Haitham al-Ghais in Tehran on Saturday. Considering the...

Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set to eclipse oil production for the first time, according to a report by the International Energy Agency. The report noted that Investment in clean energy technologies is significantly outpacing spending...

WASHINGTON, US - President Joe Biden said that Democratic and Republican negotiators were on the verge of resolving a debt ceiling standoff, as the deadline for a potentially catastrophic US default was pushed back to June 5. "It's very close and I'm optimistic," Biden told reporters at the White House on...

ABU DHABI, UAE - Two of Masdar's spokespeople will address key issues, challenges, and opportunities in electric vehicle innovation during the Electric Vehicle Innovation Summit (EVIS) 2023. It is a part of Masdar City’s efforts to foster the adoption of sustainable urban transportation. The three-day summit is scheduled to take...

Iraq presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure, linking Europe with the Gulf and other Middle East countries. Once completed, the US$17 billion project known as the "Route of Development" would stretch 1,200 kilometers from Turkey to the...

BRUSSELS, BELGIUM - The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting to US$3.6 billion (€3.4 billion) over the past five years, with a record level of US$1.18 billion alone in 2022. The figures were released ahead of the World Circular Economy...

Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year. Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said...

Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the building sector, Dubai Municipality has launched a new online system for building permits and control services aimed at streamlining procedures for customers in the emirate. The system is aligned with...

Sharjah, UAE--The Sharjah Publishing City Free Zone (SPC Free Zone) has signed more than 10 partnership agreements with publishers from Sweden, Egypt, and Algeria. The foreign publishers are looking to benefit from SPC Free Zone's comprehensive services and ecosystem that cater to investors in the publishing and creative industries, enabling...

Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the partnership between the UAE and India creates trade and investment opportunities for over 3.8 billion people and the solid economic alliance contributes to the vitality of trade and investment flows...

RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to China where it  engaged with numerous business owners across five major cities on the benefits on investing in the emirate. The RAKEZ team interacted with prominent Chinese business owners from...

DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector, the head of one of the pioneer exchanges told an international forum on Thursday. Despite a "wild year" of scandal and failure in 2022 when the FTX exchange and a...

Washington, United States - US economic output increased by more than previously thought in the first quarter of this year, the Commerce Department said Thursday, although it still indicates the economy is weakening. The US economy has cooled this year as the impact of multiple rounds of interest-rate hikes to tackle inflation...

Sudanese who cross into Egypt's south must then buy a bus ticket to take them to the nearest major city, Aswan, around 200 kilometres north of the border. They are greeted there by volunteers who offer a hot meal -- the first for many since embarking on the perilous desert...

Tehran, Iran--Iran has displayed a new long-range missile capable of carrying 1,500 kg warhead with the capacity to hit targets 2,000 kms away. Iranian armed forces unveiled their latest model of ballistic missiles dubbed "Khorramshahr-4 long range strategic missile" in a ceremony on Thursday morning in the presence of defense...

Riyadh, Saudi Arabia--The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the ongoing negotiations over a GCC-UK free-trade agreement. The call was made by the organization's secretary general Jassem Mohamed Albudaiwi during a meeting with Kemi Badenoch, UK business secretary in Riyadh...

The International Energy Agency (IEA) said that while the increasing investment in solar power is a welcome development. but investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050. Investment in clean energy and fossil fuels was equal only five years...

Sharjah, UAE-- The emirate of Sharjah has seen a 22 percent growth in population to 1.8 million inhabitants, as against 1.4 million in 2015, according to the results of Sharjah Census 2022. The findings of the census were unveiled by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, deputy ruler...

Tehran, Iran-- Iran seeks economic integration and multilateralism in international relations, according to the Islamic Republic's President Ebrahim Raisi. The president made the remarks upon his arrival in Tehran, returning from Indonesia after a two-day visit there. "Our relationship with different countries is based on regionalism and neighborhood policy," he...

Abu Dhabi, UAE--Abu Dhabi Housing Authority has joined hands with Q Holding to build new housing projects in West Baniyas and Al Samha regions at a cost of more than $1.90 billion. As per the terms of the agreement signed between the two, the company will design and implement both...

International markets have been unnerved by the battle between US President Joe Biden and opposition Republicans on US borrowing limits with an early June deadline looming. Some Republicans have questioned whether a quick agreement with the US administration is necessary to avert a painful default.

Sharjah, UAE--In order to create a competitive and diversified economy, the Sharjah Economic Development Department (SEDD) has reorganized many economic activities to be conducted in certain areas. This amendment comes in line with the economic vision of the government of Sharjah to achieve well-being and prosperity for citizens and residents....

The Prime Minister Benjamin Netanyahu spent recent weeks cutting deals with his ultra-Orthodox and extreme-right coalition partners, to meet a May 29 deadline to pass the budget or face fresh elections. Earlier this week, he said the state would grant married ultra-Orthodox Jewish men engaged in religious study rather than...

Riga, Latvia--Al Dahra Group has signed a supply agreement with Golden Fields, an Estonian agriculture company specializing in the production of premium quality animal feed grown in the Baltic region. At an event in Riga attended by government officials, farmers, and businesses from Lithuania, Latvia and Estonia, Al Dahra Group...

Doha, Qatar-- Qatar is keen to obtain rights for oil and gas exploration in Iraq, according to Iraq's oil minister who was speaking at the Qatar Economic Forum. Iraqi Oil Minister Hayan Abdel Ghani confirmed that Qatar is interested in participating in obtaining rights for oil and gas exploration in...

Some 207mn shares will be on QSE through direct listing.

DOHA, QATAR -  Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050, saying he was "very skeptical" about the target. Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement, Akbar Al Baker told...

The IMF said the 2023 upgrade reflected "higher-than-expected resilience" in both demand and supply, alongside improved confidence in reduced post-Brexit uncertainty as well as lower energy costs.

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE. Meeting her ministerial counterparts in...

Indonesia and Iran signed a trade agreement in Jakarta where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi. Tehran is aiming to boost its international trade. Raisi's two-day visit to Indonesia, Southeast Asia's biggest economy, comes in the shadow of fresh European Union sanctions this week on Iran's Revolutionary...

Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three goals of vigilance, initiative and proactiveness. He added that the inaccurate forecasts of the International Energy Agency led to price volatility in the energy market last year and in the...

After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have an agreement yet, but I did feel the discussion was productive in areas (where) we have differences of opinion." He added that negotiators would "work through the night" to move...

Doha, Qatar - Qatar's energy minister warned on Tuesday the "worst is yet to come" for Europe's oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months. "The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating in the UAE and replaced it with a temporary committee of experts for six months. The central bank, however, didn't disclose the name of the insurance company, and what led...

Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a similar treaty with Iran during the ongoing visit of the Islamic Republic's President Ebrahim Raisi to the country. The deal is intended to improve trade relations and boost the trade...

Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on transition investment, taking advantage of their access to emerging markets. This is the conclusion of a NYU Abu Dhabi (NYUAD) report. The annual report "Transition Investment Lab (TIL)" was launched...

Kuala Lumpur, Malaysia-- The UAE and Malaysia are looking to bolster cooperation in the field of energy, in addition to strengthening ties between the two countries. The subject of cooperation in clean energy came up in a meeting between Suhail bin Mohammed Faraj Faris Al Mazrouei, the UAE's Minister of...

Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the "UAE Centre for Government Digital Excellence." The centre will look to support the government’s digital transformation, enabling government authorities to benefit from the best global practices and modern technologies to...

Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the existing investment partnerships, local media reports said. The two signed an MoU regarding the same, which also includes creating more investment opportunities in the new economy, green projects, recycling, clean...

The merged firm will have a combined revenues of $3.4bn.

Sudan is the world's largest producer of the raw gum which is a major source of foreign currency for the northeast African nation. The sector has survived repeated conflicts, a warming climate and decades of sanctions.

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban sustainability, smart technologies and innovate solutions in order to achieve sustainable development goals. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA welcomed a high-level delegation from...

Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for critical global challenges in sectors such as health innovation, the climate emergency and future energy sources. This was stated by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime...

Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran and its neighboring countries are capable of cooperating for the security of the Persian Gulf, Strait of Hormuz and Sea of Oman," Iran's Chief of Staff of the Armed Forces,...

President Joe Biden slammed Republican demands in negotiations to resolve the US debt ceiling standoff as "unacceptable" but said a solution can still be found before a disastrous default. Biden said he would talk directly with Republican House Speaker Kevin McCarthy during his Air Force One flight back to Washington.

DUBAI, UAE -  Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced that the five-day event, held on March 1-5 2023, has provided a direct economic impact of US$39 million (AED143 million) to the city. New figures revealed in the Economic Impact...

ABU DHABI, UAE -  The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has launched an ambitious program to develop and sustain beekeeping and honey production in the Emirate. The program is based on scientific, applied studies and research to develop the best methods and practices suitable for the UAE...

President Joe Biden may be on the other side of the world but his political fight back home over the debt ceiling has followed him. Bruce Reed is the White House deputy chief of staff and he has trailed president, "updating POTUS on the status of the talks", as a...

DUBAI, UAE -   The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the new support program for low-income farm owners in the UAE. The farm owners have to be registered with Etihad Water & Electricity. This support aims to reduce the financial burden...

Riyadh, Saudi Arabia--Namibia has voiced its support for Saudi Arabia's bid to host Expo 2030 in Riyadh. This was announced by Dr. Alfredo Tjiurimo Hengari, the presidential press secretary to the President of Namibia Hage G. Geingob following his meeting with the Saudi advisor at the royal court Ahmed bin...