Dubai, UAE—  The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup, as more than 1.2 million fans are expected to attend the event. According to a survey conducted by S&P Ratings, the influx of football fans from around the world will...

The digital economy has become an important cornerstone of China's stable economic development, said the China Internet Development Report 2022.

The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.

Abu Dhabi, UAE - AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq. IDB aims to provide its services to corporate clients and support a range of key infrastructure...

Although its subscriber base has swelled by 12 million users, Disney+ has seen its operating losses touch $1.47 billion for the July to September period. The number of people subscribing to Disney+ reached 164.2 million people, more than 161 million estimated by Factset, a data company.

No financial terms were disclosed of the proposed deal.

Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some of its recent losses versus the euro, while Chinese demand expectations were keeping oil prices in check. Europe's main markets were showing gains some two hours from the close save...

AMMAN, JORDAN - Jordan imported about 405,550 barrels of crude oil from Iraq in October, an average of 13,000 barrels per day, the Kingdom's Minister of Energy and Mineral Resources Saleh Kharabsheh said Tuesday. He said in a press release that the Kingdom had imported roughly three million barrels of...

DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) discussed with the Russian Ministry of Industry and Trade ways to boost collaboration, exchange medical expertise and expand partnerships in the pharmaceutical sector between the two countries. The two countries also discussed ways and means to encourage more Russian companies...

Strong performance of the firm's agrochemicals division helped.

DUBAI, UAE - The UAE-India joint technical committee for manpower held its first meeting where it explored areas of collaboration between the two countries. Both parties highlighted their keenness to enhance cooperation to ensure a safe, organized and legal transition of Indian laborers through the exchange of best practices in...

The agency expects that Qatar would achieve large budget surpluses and sustainably reduce debt servicing costs due to the government's successful strategy to pay off debts.

The company hopes to elevate its investments in India to $5 billion within the next five years, up from just over $600 million currently.

The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.

SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that the speech of President Sheikh Mohamed bin Zayed Al Nahyan at COP27 outlined the UAE’s clear vision and strategic approach to climate action and sustainability. The minister and the UAE’s...

Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its economically painful zero-Covid policy. The Chinese government said it would stick to its current plan, which involves harsh lockdowns and strict quarantine and testing regimens.

Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's finance ministry reported in its Fiscal Performance Monthly Bulletin. For the same period last year, the budget reported a deficit of RO 1.030 billion. Oman’s public revenue stood at RO...

AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October period, in comparison to figures reported in the same period of 2021. The Department of Land and Survey (DLS) revealed on Monday that the state's revenue from the real estate...

The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change. In its annual World Trade Report, the WTO says global commerce should not be pitted against the climate crisis and said trade could enable the spread of green innovations and...

During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and phase out the dirtiest of those already running, even as energy demands soar in the manufacturing powerhouse.

Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the country. Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques, except for health facilities and centers for people...

The slowdown in trade comes as global demand for Chinese products weakens with energy prices soaring and the United States facing the threat of recession. Sporadic Covid-19 lockdowns have also hurt consumer enthusiasm and business confidence in the world's second-largest economy.

Owing to Covid restrictions in central China, Apple has said that production at the world's largest iPhone factory has been "temporarily impacted", warning that customers will now face longer wait times. It said the curbs have affected the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility.

Given the increase in life expectancy as well as the number of people of childbearing age, the UN projects the population to continue growing to about 8.5 billion in 2030, 9.7 billion in 2050, and a peak of about 10.4 billion in the 2080s. Other groups have, however, calculated different...

Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of COP27 in Egypt will be an affirmation of the country's pioneering model regionally and globally in facing the challenge of climate change.

The already daunting task of decarbonizing the global economy in a few years has been made even harder by a global energy crunch and rapid inflation.

GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging in growth industries like fintech and logistics.

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef met the Australian Assistant Minister of Industry for Manufacturing Timothy Ayres in Sydney.

Iranian students protested and shopkeepers went on strike despite a widening crackdown, according to reports on social media, as demonstrations that flared over Mahsa Amini's death entered an eighth week.

Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its ally before the Russian invasion of Ukraine. "We supplied Russia with a limited number of drones months before the war in Ukraine," Foreign Minister Hossein Amir-Abdollahian said, quoted by the...

The Planning and Statistics Authority (PSA) has released the 105th issue of (Qatar; Monthly Statistics) bulletin for the month of September, which showed total broad money supply (M2) increasing 11.4 percent YoY to US$189 billion (QR 688 billion).

UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the Past and Anticipating the Future", hosted by the International Atomic Energy Agency (IAEA) at its headquarters in Vienna.

Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on electricity and water efficiency, reducing wastage and leaks, and following a responsible and sustainable lifestyle.

The rating agency predicts that increased oil prices would lead to significant fiscal surpluses in 2022–2023.

The surplus under trade in goods increased 37 percent year-on-year to hit a record US$521.6 billion.

Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of the Group, met with Alexander Radwan, Member of the German Bundestag.

The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to ensuring that its goals are met, the UN's climate chief said. "This COP needs to demonstrate that there is a distinct shift from negotiations to implementation," UN Climate Change Executive...

World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for Ukrainian grains on the Black Sea, a UN agency said. Global food prices have been falling since hitting an all-time high in March in the wake of Russia's invasion of...

HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade Dr. Majid bin Abdullah Al-Qasabi stressed on the need to strengthen and diversify the bilateral trade between the two countries. Al-Qasabi said...

An economic report issued by the MEP---the ministry will publish such reports quarterly on domestic and global economic updates---real non-oil GDP growth expanded by 5.9 percent. The report said the kingdom recorded growth for six consecutive quarters.

AMMAN, JORDAN - Jordan's King Abdullah received Russian Foreign Minister Sergey Lavrov in Amman on Thursday and stressed the importance of stabilizing Syria, especially the southern part. King Abdullah noted the need to activate efforts to reach a political solution to the crisis in Syria, safeguarding its unity and territorial...

Q3 revenue was up 11.6 percent at US$10.11 billion.

Dubbed the 'Arab Development Summit', it may be hosted by the Cairo-based Arab League.

Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels.

Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and exchange knowledge and data in the energy sector.

Bank announced a share buyback of US$1.4 billion.

Profit was due to high demand for pricier luxury models.

Moscow had said on Saturday that it was temporarily pulling out of the grain deal, accusing Ukraine of using a safe shipping corridor established under the agreement to launch a drone assault on its Black Sea fleet.