RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its business solutions for global investors in the Food and Beverage (F&B) industry who want to establish and expand their operations in the UAE.With an aim to promote the F&B industry,...

Riyadh, Saudi Arabia-- Saudi Arabia's non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in December 2022, from SAR 30.1 billion in December 2021, according to the kingdom's General Authority for Statistics. Non-oil exports (excluding re-exports) decreased by 17 percent as re-exports also fell by...

SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with Minister of Foreign Trade and Investment of Costa Rica Manuel Tovar Rivera to discuss strengthening collaboration between their respective regions.The two parties discussed trade, food security and the transportation of...

Youssef Akiki believes he may be the last commercial maker of the sheep wool "labbadeh", a waterproof and warm cap colored off-white, grey, brown or black.

With Wall Street closed Monday for Presidents' Day there were few catalysts for regional investors, with focus on the release later in the week of minutes from the Federal Reserve's most recent policy meeting. After data this month showed the jobs market continues to boom and prices continue to rise...

London, United Kingdom--UK government finances recorded a stronger surplus than expected last month, official data showed Tuesday, news that analysts said could allow finance minister Jeremy Hunt to further ease a cost-of-living crisis.Net borrowing showed a surplus of £5.4 billion ($6.5 billion) in January, compared with the government's own forecast for...

It, however, posted a jump in revenue to $15.7bn.

Riyadh, Saudi Arabia--The Arab Gulf Program for Development (AGFUND) will support UNICEF with funding in order to contain the spread of waterborne diseases in Lebanon. In this regard an agreement was signed in Riyadh by Prince Abdulaziz bin Talal bin Abdulaziz, Chairman of the Board of Directors of AGFUND, and...

Riyadh, Saudi Arabia-- Saudi Arabia and Costa Rica have signed agreements to increase the volume of trade and investment between the two countries.In this connection, the Federation of Saudi Chambers and the Costa Rican Export Authority signed two agreements in the field of economic cooperation between the kingdom and the...

Abu Dhabi, UAE--UAE Banks Federation (UBF) has signed a memorandum of understanding (MoU) with the Azerbaijan Banks Association to enhance cooperation and and promote the growth of the financial and banking sectors in both countries.The scope of the MoU includes organising various activities in the finance and banking sector jointly...

However, economic and people-to-people ties between Israel and its Abraham Accords partners will be affected due to the hard right nature of Israel’s coalition, says Esawi Frej.

DUBAI, UAE -  PwC Middle East and Microsoft have strengthened their global partnership at LEAP event in Riyadh, to support government and private entities in their digital transformation and cloud migration journey in Saudi Arabia.The collaboration will focus on cloud transformation, business process automation and technology consulting, addressing the present...

DUBAI, UAE -  Dubai International Financial Center (DIFC) continued to grow at a record-breaking pace in 2022 with the number of active registered companies rising 20 percent from 3,644 in 2021 to 4,377 in 2022.New companies registered in DIFC in 2022 surpassed the annual milestone of 1,000 for the first...

The decision of the Algerian President was announced in a speech read by Prime Minister Aimene Benabderrahmane at the annual African Union summit of leaders in the Ethiopian capital, Addis Ababa.

The benchmarks closed lower by about 4 percent last week after the United States reported higher crude and gasoline inventories.

Sharjah, UAE--Sharjah Electricity, Water and Gas Authority (SEWA) has completed the installation of 23,000 new smart meters in 2022 and replaced mechanical meters with smart meters in various regions of Sharjah.The new smart meters are accurate which contribute to providing accurate readings free from errors, as well as rationalising energy...

Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) will take part in the upcoming 28th edition of Gulfood 2023, the biggest food and beverage supply platform globally.The event will be held from 20th to 24th February at the Dubai World Trade Centre (DWTC) and will host over 5,000 exhibitors hailing from...

Defying a government ban against marches, scores of Moroccan trade union activists protested on Sunday in the capital Rabat and other cities to denounce surging costs of food and fuel. Protestors from the Democratic Labour Confederation (CDT) organized rallies outside their offices in Rabat and Casablanca as well as other...

DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has hosted the sixth episode of a series of digital industry workshops focusing on the e-commerce market.Attended by Dubai's e-commerce industry leaders, the workshop saw discussions on topics surrounding regulations, funding, talent, and...

ABU DHABI, UAE -  A delegation of 10 Abu Dhabi entities visited Israel from  February 12-16 to discuss business cooperation and innovation opportunities.Led by the Abu Dhabi Investment Office (ADIO), the delegation included Abu Dhabi Global Market (ADGM), Abu Dhabi Residents Office (ADRO), Hub71, Abu Dhabi IPO Fund (ADIPOF), Masdar...

Turkey was already battling runaway inflation and relying on rich allies for funding to keep its economy afloat when a massive earthquake killed tens of thousands, razed entire cities and left millions needing urgent help. Mahmoud Mohieldin, an executive director at the International Monetary Fund (IMF), said the 7.8-magnitude tremor...

DUBAI,  UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA)  Saeed Mohammed Al Tayer received a high-level delegation from Emerson headed by Lal Karsanbhai, President and CEO.Emerson is a global leader in technology, software, and engineering.The visiting delegation included Michael Train, Chief Sustainability Officer, Emerson; Vidya Ramnath,...

Earlier in Saturday, Esther Lynch, Europe's top trade union official took part in a demonstration organized by the UGTT trade union federation and made comments that constituted blatant interference in Tunisia's internal affairs, head of the European Trade Union Confederation, the presidency said in a statement. It added that she...

SFAX, TUNISIA - Thousands of Tunisian trade unionists held protests across the country on Saturday over worsening economic woes and the arrest of a top union official.The North African country is in drawn-out talks with the International Monetary Fund for a bailout loan, which the powerful UGTT workers' federation has warned...

DUBAI, UAE -  Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has marked the first anniversary of the signing of the landmark UAE-India Comprehensive Economic Partnership Agreement during two important events in the UAE.On Friday, Al Zeyoudi received a delegation from the Federation of Indian Chambers...

Its profit shot up more than 5,000% to $14.45m in 2022.

Washington, United States--The IMF said Friday it has reached a staff-level agreement with Ukrainian authorities that opens doors to a full-fledged loan, which would also support the country's bid to join the European Union.Ukraine was seen to have "strong" performance under a four-month program with the International Monetary Fund, meeting its...

Abu Dhabi, UAE--The first batch of naval vessels arrived at the Abu Dhabi National Exhibition Centre Waterfront (ADNEC Marina) today, to take part in NAVDEX 2023.NAVDEX 2023 will be held in conjunction with IDEX 2023 from 20th-24th February.The first batch comprised of seven naval vessels of different sizes and uses,...

It will focus on the development of defense trading.

TUNIS, TUNISIA -  A goalkeeper at a top-flight Tunisian football club has reached Italy as a clandestine migrant, his club said Friday, as the dire economy pushes thousands into making similar journeys."Due to the financial crisis facing the club, and difficult living conditions (in Tunisia), the goalkeeper of Avenir Sportif de...

Total operating income rose 11% in 2022 compared to 2021.

Fashion house posted huge earnings despite inflation.

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the organization's keenness to cooperate with leading international companies for the continuous development of its operations.Al Tayer made the remarks during discussions with a high-level delegation from France’s satellite operator Eutelsat,...

The 7.8-magnitude quake hit Turkey and Syria on February 6, leaving a combined death toll of nearly 40,000 people. Since then, Assad has received calls from the leaders of several Arab countries, including those that cut off ties with Syria over a decade ago over bloodshed during its civil war.

The group sold over two million cars in 2022

The external e-commerce players, projected to grow by 19.2 percent from 2022 to 2026, are expected to capture a share of 34 percent of the total online shopping in the UAE.

Firm's profit rose due to gas and crude oil prices spike.

Lebanon's cash-strapped banks have imposed strict restrictions on withdrawals, barring depositors from accessing their savings, especially those in US dollars.

DUBAI, UAE -  Investopia, the global investment platform launched by the UAE Government, and Mubadala, the sovereign investor, announced a strategic partnership.This strategic partnership is focused on Investopia’s second annual event which will take place on March 2- 3, 2023 in Abu Dhabi, under the theme 'Envisioning Opportunities in Times...

ABU DHABI, UAE -  The UAE and India share solid relations, said the Abu Dhabi Chamber of Commerce and Industry (ADCCI).M. A Yusuff Ali, Second Vice Chairman of the ADCCI reaffirmed the solid relations between the UAE and India, saying, "The UAE and India share a long history of solid...

The company's net profit in 2022 jumped to $278 million.

The emirate has launched a number of initiatives in recent years as it focuses on diversifying its economy away from oil.

Driven by new projects, its sales in 2022 touch $9.5bn.

Riyadh, Saudi Arabia--Atkins has been appointed as a delivery partner organization for what Saudi Arabia terms as "The Line" in NEOM.Atkins is one of the world’s leading design, engineering and project management consultancies and a member of the SNC-Lavalin GroupA civilizational revolution that will have no roads, cars or carbon...

With Lebanon's political and economic crisis showing no signs of abating, its currency on Wednesday hit a record low against the dollar on the black market. The pound has lost more than 95 percent of its value against the greenback since the beginning of the economic crisis in 2019.

Experts say the deals could be a win-win for all sides, but unlike old Gulf largesse of unconditional aid, the new deals will require reforms. Cairo hopes the cash injection will plug what the IMF warns is "a financing gap of about $17 billion over the next four years".

Abu Dhabi, UAE--ADNOC Distribution announced on Wednesday that it has completed its acquisition from TotalEnergies Marketing Afrique SAS of a 50% stake in TotalEnergies Marketing Egypt LLC.The closing of this landmark transaction, which was first announced in July 2022, marks the official entry of the UAE’s largest fuel and retail...

United Nations, US--The United Nations launched an appeal for $397 million on Tuesday to help earthquake victims in Syria, where the disaster has killed thousands of people and left millions more in desperate need of aid.Secretary-General Antonio Guterres, announcing the appeal at the UN headquarters in New York, said the funds...

Abu Dhabi, UAE--Abu Dhabi today announced the inauguration of the bilateral linkage of the traffic systems between the UAE and Kuwait.This came in a bilateral meeting held in Abu Dhabi between the delegations of the two countries, where Maj. Gen. Khalifa Hareb Al Khaili, Under-Secretary of the Ministry of Interior,...

It made the profit in Q4 last year on revenue of nearly $2bn.