DUBAI, UAE  - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a storage capacity of 30 million imperial gallons (MIG) and is being built at a cost of approximately US$23 million (AED86 million). It is expected to be completed in April 2023....

Doha, Qatar--Qatar Central Bank's (QCB) international reserves and foreign currencies liquidity increased last December by 9.6 percent on an annual basis, to reach $59.31, compared to $54 billion in the same period last year. December recorded a monthly growth of 2.7 percent compared to November 2022. The figures issued by...

Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation...

Cairo, Egypt--The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10% to $3.32bn from January-November 2022, compared to $3bn in the same period in 2021. Also read: Egypt economy to grow 5.2% in 2021-22 According to the EEC's monthly report, the most notable industries...

Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in the region, says an expert.

DUBAI,  UAE - A total of 2,173 real estate transactions worth over US$2.72 billion (AED 10 billion) were conducted during the week ending January 6, 2023, according to figures released by the Dubai Land Department (DLD). A total of 270 plots were sold for $612 million (AED 2.25 billion), 1,903...

The company revealed its plan to raise the Emiratisation percentage to 73 percent of the total engineering jobs by the end of 2023.

Basra, Iraq--Iraq on Friday welcomed football teams from across the region for the Gulf Cup, ending nearly three decades of repeated bans on international matches in the war-torn and corruption-plagued country. The tournament in the southern city of Basra brings together eight teams, with Friday's opening match seeing the host...

While a strong labor market may fuel optimism that the world's biggest economy can stave off a major downturn despite an aggressive series of interest rate hikes, it is also an area of concern for the Federal Reserve as high wages can feed into inflation. But in an encouraging sign...

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report.

AMMAN, JORDAN -  Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels, equivalent to 490,000 tons of crude oil."Jordan imports Iraqi crude oil according to the memorandum of understanding (MoU) for the processing of crude oil signed between the Jordanian and Iraqi...

Abu Dhabi Securities Exchange finished 2022 with a gain of almost 20 percent, making it the highest performer among GCC indices. In 2023, Saudi and UAE ended the weekly exchange down or stable.

Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone. Global equities have enjoyed a largely solid start to the new year, though Wall Street slid on expectations that the Federal Reserve is in no rush to stop hiking US...

Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world. A Russian naval blockade that prevented Ukrainian grain exports was lifted following a deal in July that was brokered by Turkey and the...

Teams across Dubai’s government entities will work in close collaboration with the private sector to achieve the various targets of the agenda over the next 10 years.

Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas of cooperation, such as using big data.

Tunis, Tunisia - Dozens of Tunisian lawyers protested on Thursday against newly imposed taxes on legal services, part of a 2023 budget that seeks to boost revenues to the cash-strapped treasury. Led by Bar Association head Hatem Mziou, lawyers gathered outside the Palais de Justice in Tunis as well as other...

AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase the volume of trade exchange, discuss means of enhancing cooperation, and showcase investment opportunities in the two countries.JCI President Fathi Jaghbir underlined the need to set in motion a new...

The first category, which currently consists of 51 individuals, is for those who have reached the legal retirement age.

Washington, United States--Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic. "Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just...

Michelin-starred sushi restaurant Onodera Group and Japanese wholesaler Yamayuki forked out 36.04 million yen ($273,000) for the 212-kilo bluefin tuna in the auction at Tokyo's Toyosu fish market. The figure was still only a fraction of the 2019 record price but marks a recovery for the symbolic auction after three...

Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month. The latest Purchasing Managers' Index (PMI) survey data from Qatar Financial Centre (QFC) indicated further rapid growth of business activity in December. As was the case in November, wholesale, retail,...

The Saudi Notarization Law has transferred a number of such jurisdictions from courts to the notarial e-system.

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand from clean and sustainable resources.

The Gulf emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, unveiled in a series of tweets the Dubai Economic Agenda, dubbed "D33", with targets totalling 32 trillion dirhams ($8.7 trillion). The plan would "double the size of Dubai's economy in the next decade and consolidate its position among the top three...

Doha, Qatar-- Qatar ranks first among the world’s top destinations for foreign direct investment (FDI), owing to its strong economic and investment momentum into 2023, according to the newly released "FDI Standouts Watchlist 2023" by fDi Intelligence. QNA said the report analyzes the macroeconomic and foreign direct investment (FDI) trajectory...

Baghdad, Iraq---Iraqi telecommunications worker Youssef Ahmed is married with a five-year-old son, but lives with his parents because he is unable to afford his own home amid soaring property prices. "Even if your income increases, it will never be up to the exorbitant prices of houses or land", said 29-year-old Ahmed,...

Abu Dhabi, UAE--The bilateral trade between Pakistan and the United Arab Emirates is expected to double from the US$10.6 billion, according to Pakistan's ambassador to the UAE Faisal Niaz Tirmizi. The last calendar year recorded a US$10.6 billion in trade “the highest volume Pakistan had in the Middle East and...

According to data recently released by the CBJ, Jordanian expatriates' remittances in the first ten months of 2022 increased by 0.6 percent.

Washington, United States--Two World Bank entities provided a record $75 billion in financing last year, said a letter by its president, as developing countries faced crises like climate change and Russia's invasion of Ukraine. The aid comes as countries emerging from the Covid-19 pandemic were hit by fallout from war in...

Doha, Qatar-- Qatar has recycled some 80 percent of waste collected from stadiums during the FIFA World Cup games. According to Bodour Al Meer, the Sustainability Executive Director at the Supreme Committee for Delivery & Legacy, nearly 54 percent of the waste has been converted into compost, 22 percent into...

The summit is being held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert Energy.

Cairo, Egypt--Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many a money-saving tip from a state body has been the last straw. As families have struggled to purchase household staples, an Egyptian government agency praised an alternative, cheap protein...

Tunisian authorities are hoping to secure a nearly $2-billion bailout from the International Monetary Fund they hope will unlock other sources of international financing. Saied said the plan unveiled Tuesday, which is based on growth of 2.1 percent this year -- compared to 1.8 percent last year -- was "realistic...

At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage.

Ducab's supplying medium voltage and earthing cable.

SHARJAH, UAE - The Sharjah Executive Council (SEC) discussed on Tuesday a report on commercial boards made for economic institutions and their impact on the general urban appearance of the emirate.  Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Sharjah...

SHARJAH,  UAE - Expo Centre Sharjah (ECS) has announced the completion of all preparations for the 18th edition of the SteelFab (SteelFab 2023) exhibition, the largest event of its kind in the Middle East and North Africa region. The event is being organized by ECS, with the support of the...

Analysts attribute the sharp slowdown to the so-called base effect, which makes year-on-year price increases look smaller when compared to extremely high levels 12 months earlier. The latest reading is still higher than in any another other emerging market except for Argentina. But it fulfils Erdogan's campaign promise that inflation...

Beijing, China--China Evergrande has pledged to repay its debt this year, as the property giant faces a restructuring following Beijing's crackdown on excessive borrowing and rampant speculation in the real estate sector. In an email seen by AFP, chairman Hui Ka Yan told staff that "2023 is a key year for...

Erdogan explained that Turkish exports made their way to the markets of 197 countries and regions around the world.

Baghdad, Iraq--The Iraqi Prime Minister Mohammed S. Al Sudani has stressed the need for economic reform and supporting the sectors of agriculture, industry, tourism and trade. The prime minister highlighted the need to fortify Iraq, in order for it not to be a passage for smuggling hard currency and money...

Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance estimates by the trade ministry.

Almost a year after the Dubai Financial Services Authority (DFSA) imposed a heavy penalty on Arif Naqvi, the founder of Abraaj, for what it termed as fraud, the Financial Markets Tribunal has now upheld the DFSA decision to slap a penalty to the tune of $135.56 million, the largest-ever fine...

RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization (UNESCO) has praised the achievements of Saudi Arabia in e-education governance. In its publication "Guide to measuring information and communication technologies (ICT) in education",  UNESCO said that Saudi Arabia's National E-Learning Center is an example to be followed...

A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts in supplies from Russia, which was Europe's main supplier before the war.

TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack of an end-of-year bonus Monday, creating traffic jams across Tunis. The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis, with...

Abu Dhabi, UAE-- The UAE and Azerbaijan have reviewed bilateral relations between the two countries and pledged to deepen ties across all the fields. In this connection, Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs and Jeyhun Bayramov, Minister of Foreign Affairs of Azerbaijan, reiterated their resolve...

Many experts have also said the ban on foreign buyers -- who accounted for less than five percent of home ownership in Canada, according to the national statistical agency -- would not have the desired effect of making homes more affordable.