Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces such as green hydrogen, according to Baoshen Zhong, Chairman of LONGi Green Energy.China Economic Net quoted Zhong as saying, during the 2024 Two Sessions, that “Renewable energy, mainly photovoltaic and...

The announcement came after the airline's record profits.

It will enable customers to access Dropbox's tools.

AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months of 2024, compared to US$1.79 billion (JD1.272 billion) for the same period last year.According to statistical data obtained by Petra, exports of five sectors recorded an increase, while the rest...

Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in a generation leaving many in Africa's most populous Muslim country struggling to buy food.With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central mosque...

Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and friends -- by stocking up on large amounts of food. But this year things are different, with purchasing power greatly diminished because of soaring prices, a recession and rising unemployment.

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of customs duty exemptions for various industrial products and materials starting April 1. Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential...

Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed by Minister of Finance Ali bin Ahmed Al Kuwari and Minister of Economy and Information Technology in Estonia Tiit Riisalo.Stressing the importance of the agreement, Al Kuwari said that it...

The debut issue of the company is valued at US$300m.

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi.Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group, will provide a full turnkey solution for the projects, including finance, design, procurement, construction, operations, and maintenance for 25...

Libya earns around $20 billion per year in net revenues from oil and gas exports, which accounts for around 95 percent of state revenue. Much of this wealth pays for a bloated public sector that employs almost one third of the population, as well as for state subsidies meant to...

Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing for what organizers are terming as "record-breaking" final day with more announcement of investments expected to be made on the occasion. Abdullah Al-Swaha, Saudi minister of communications and information technology,...

Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase compared to the previous year, with Europeans constituting 27 percent of the total visitor count.Sharjah Commerce and Tourism Development Authority (SCTDA) made the announcement during its press conference on Wednesday...

Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP World’s global network to establish and host international representative offices at the group’s facilities around the world.The partnership aligns with the goals of the Dubai Global initiative launched by Sheikh...

The automaker will beef up production of hybrid vehicles.

Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among the Arab Gulf states, especially in light of the economic and financial challenges that the world is experiencing in relation with growth, sustainable development, financial stability, and interest rate policies,...

The 50% cash dividend would be to the tune of US$2.12bn.

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on the previous year’s 88 million, according to latest figures released by the mall on Tuesday.Figures also showed a staggering 20 million people visited the mall in the first two months...

Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and Wall Street shares dropped ahead of the release of key US economic indicators.Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000 points...

RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, rose to 57.2 points in February.The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.   The PMI fell to...

They will utilize outdoor media-leasing spaces for advertising.

Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU) market, Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, told the Emirates News Agency (WAM).As evidence of thriving relations, he highlighted the growing Irish diaspora in Gulf Cooperation Council...

It is part of the airlines' effort to 'modernize' its fleet.

Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's annual National People's Congress (NPC), which kicked off Tuesday morning. A budget report indicated China's military spending - second only to the United States' - would rise by 7.2 percent.

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF).Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of 3.6...

Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of its road network, Minister of Transport and Logistics Eng. Saleh Al-Jasser said on Monday. Speaking at the launch of the "Safe distinguished roads" campaign in Riyadh, Al-Jasser highlighted a remarkable...

Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will last until next Sunday. At a press conference, CPPCC spokesperson Liu Jieyi said that "economic topics are of great concern" to the body's over two thousand members.

The bank has raised its interest rates to tame inflation..

On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan said Sunday that anti-inflation policies "will begin to be felt in practice towards the end of the year".

Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the oil ministers of the two countries.Iranian Oil Minister Javad Owji held talks with Nikolay Shulginov, the Minister of Energy of Russia, on the sidelines of the GECF Summit in Algeria on...

Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the next 12 months, surpassing the global average of 44%, the Middle East average of 73%, and the GCC average of 81%, reveals the 27th Annual CEO Survey by the PwC...

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country.Top economic officials have stressed the UAE's significant role in supporting the free...

The market value of its net assets crossed US$5.66bn.

BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF) team said.The team said that medium-term vulnerabilities to oil price volatility have increased significantly.Growth in the non-oil sector has rebounded strongly in 2023 while inflation receded.Supported by increases in public...

It will commit the two to sustainable innovation.

Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu Dhabi Declaration, a landmark document securing important new trade agreements that will extend the benefits of the global trading system to more nations.Following a week of intensive negotiations, Dr Thani...

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while traders awaited remarks from several Federal Reserve officials.According to Reuters, spot gold edged 0.2 percent higher to $2,047.29 per ounce, as of 0635 GMT, after hitting $2050.59 on Thursday -...

Abu Dhabi, UAE--Masdar, the UAE’s clean energy powerhouse, has completed its acquisition of a 49 percent shareholding in the 3 gigawatt (GW) Dogger Bank South (DBS) project – one of the world’s largest planned offshore wind farms.The planned $13.89 billion joint investment with RWE, a leading renewable energy company headquartered...

The new projects are estimated to value US$26.14 billion.

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as a major WTO conference was extended beyond its scheduled deadline.With no signs of a breakthrough at the World Trade Organization's 13th ministerial conference (MC13) in Abu Dhabi, officials pushed back...

London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a clearer idea on when the Federal Reserve will start cutting interest rates as inflation cools.Traders reacted also to yet more earnings, with the Paris CAC 40 reaching a fresh intra-day...

Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced.Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the agreements represent a new step...

The airline reported record revenue of US$32.49bn in 2023.

The collaboration is expected to boost private sector in Qatar.

In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while the mobilization of reservists and the displacement of communities on the borders with Gaza and Lebanon have disrupted the economy. Confronted with the conflict, Arab countries that have normalized relations...

It had dedicated nearly 2,000 workers for the program.

Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's announcements, sanctions, and ongoing geopolitical risks.Uncertainties as to when the Fed will start cutting interest rates persist, and the minutes of last week's Federal Open Market Committee (FOMC) meeting showed...

The US special envoy for Yemen, Tim Lenderking, told a Senate subcommittee that Iran was "equipping and facilitating" the Huthi attacks, which have triggered retaliatory US and British strikes on Yemen. He said many Iranian and Hizbollah operatives support Houthi attacks from inside Yemen.

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African and Middle Eastern countries.Titled BRICS: Potential Roles, Challenges Facing African and Middle Eastern Countries, the one-day workshop discussed new memberships, expectations, and needs related to the mechanism.New BRICS members from...