The Haj season enhances Saudi Arabia’s political and religious prestige while contributing to its annual revenue of around $8 billion and creating thousands of jobs.

The Saudi Space Commission and the Italian Space Agency sign a memorandum of understanding for enhancing cooperation in the field of space for peaceful purposes

Qatar Chamber (QC) said in its quarterly report that the export value of private sector in Q1 2022 hiked to QAR 7.7 billion($2.11bn) with a 46 percent growth compared to QAR 5.3 bn($1.46bn) in Q1 2021. The report also mentioned the impact of the certificates of origin on the exports'...

Several MENA countries have fared well on all three domains of the Genuine Progress Indicator, which has been hailed as a much better metric of a nation's progress than GDP.

The UAE Ministry of Energy and Infrastructure received the 'Sustainability Leader in Shipping' award and a 'Decarbonization Champion in Power Sector' award during the recently held Decarbonization and Climate Action Awards

Eight members of the first batch of conciliators in economic disputes and consumer complaints were sworn in at Abu Dhabi. The conciliators will begin their duties in the Abu Dhabi Department of Economic Development to perform mediation and conciliation work for economic disputes

Israel on Sunday approved housing allowances for South Lebanon Army (SLA) veterans residing in the Jewish state, providing "historic justice" to former members of the Christian-led militia, officials said.

The African Union Commission chief has voiced his shock at the "violent and degrading" treatment of African migrants trying to cross from Morocco into Spain after 23 people died, and called for an investigation in the incident. About 2,000 migrants stormed the heavily-fortified border between the Moroccan region of Nador...

Asian and European markets rallied again Monday, building on last week's advances and following a strong performance on Wall Street as speculation that inflation may have peaked tempered expectations about central bank interest rate hikes. With prices surging at a pace not seen in a generation, finance chiefs have been...

Several crypto platforms have recently launched dedicated NFT marketplaces. TRENDS tries to find out which business and economic sectors have been covered by NFTs in the UAE.

The fund will offer venture debt tools to startups and SMEs.

Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key rates sharply.

The Sharjah Chamber of Commerce & Industry organized a business meeting with the Embassy of the Republic of North Macedonia in the UAE and the Sharjah Commerce and Tourism Development Authority (SCTDA).

Emirates Health Services has signed a MoU with Johnson & Johnson Middle East to strengthen collaboration towards developing more advanced health services, innovative hi-tech solutions to support the health sector

Saudi Stock Exchange's general index fell by nine points. Abu Dhabi market was below 9,200 points, Dubai market rose above 3,200 points

DEWA and Azerbaijan discuss investment in oil exploration and production projects, crude oil trading and reviewed issues of mutual interest in the energy sector, including renewable, oil and gas activities, as well as long-term investment opportunities

It would take Ukraine a decade to build infrastructure to replace its Black Sea ports, whose blockade by Russia is preventing grain exports around the world, Ukraine's deputy agriculture minister said Friday.

75 percent of respondents in Kuwait and 60 percent in Qatar said their country has a shortage of people with specialised skills.

Saudi Arabia has consolidated its position in the Arab world as the largest economy, posting a domestic output of $833.5 billion last year, the equivalent of 29.7 percent of the entire Arab region.

Saudi Minister Bandar bin Ibrahim Alkhorayef said that the targeted pharmaceutical sectors whose value exceeds US$5 billion will be implemented in several stages.

A Katyusha rocket struck near an Emirati-owned gas complex in northern Iraq on Friday, a local official said, the second such unclaimed attack in as many days. UAE energy company Dana Gas owns the complex, and the gas field lies between the cities of Kirkuk and Sulaimaniyah.

Around 2,000 migrants approached Melilla at dawn Friday and more than 500 managed to enter a border control area after cutting a fence with shears.

With inflation rising sharply, and the Federal Reserve raising interest rates, the United States is facing an increased risk of a downturn, IMF Managing Director Kristalina Georgieva said Friday. But any temporary pain caused by a recession would be "a necessary price to pay" to defeat damaging inflation, she said.

A delegation from the Abu Dhabi Department of Energy (DoE) is visiting Canada to meet senior government officials and stakeholders in the Canadian energy sector to discuss opportunities for collaboration

The Kingdom of Saudi Arabia has signed a joint cooperation agreement in maritime transport with the Republic of Djibouti which aims to open new horizons for cooperation in various fields between the two countries

The two-day 'Make it in the Emirates' event hosted by Abu Dhabi, highlight the UAE's capacity to ensure the growth of national industry and identify a number of products the country will depend on in the coming years

Iran said Thursday that it remains "serious" about reaching a revived nuclear deal with major powers that end economic sanctions and to which the United States is again a party.  Foreign Minister Hossein Amir-Abdollahian was speaking at a joint news conference with visiting Russian counterpart Sergei Lavrov as talks between...

Marine pollution has worsened in recent years in Gaza, where insufficient wastewater solutions have turned the Mediterranean into a dump.

The UAE also emerged 17th globally in terms of FDI outflows that totaled $22.5 billion in 2021, a 19% growth compared to the year 2020.

The world body said it will broker new talks between rival institutions from war-torn Libya next week to try to break a deadlock on the rules for long-awaited elections.

Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the poor.

High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating.

The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and 2021 and as per the Arab Investment Export Credit Guarantee Corporation, all the Arab countries received a total capex of US$1.3 trillion over the last 19 years.

Mariam bint Mohammed Almheiri, UAE’s Minister of Climate Change and the Environment, has said UAE is keen to enhance efforts aimed at building sustainable food and agricultural systems in GCC. She was speaking at the 32nd Meeting of the GCC Agricultural Cooperation Committee. Almheiri commended the Committee and hoped that...

Saudi Arabia’s overall merchandise exports increased by 98 percent in April 2022 compared to April 2021, according to General Authority for Statistics (GASTAT). The value of exports amounted to SAR137.1 billion ($36.53 billion) in April 2022, up from SAR69.3 billion in April 2021. This increase was attributed mainly to oil...

Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable Energy Commission and he urged Arab nations to develop their own renewable energy industries rather than importing foreign technology

The head of Tunisia's powerful UGTT trade union confederation on Thursday rejected conditions set by the International Monetary Fund for a new loan to bail out the country's struggling economy. "We reject the conditions set by the IMF, given Tunisians' low salaries, lack of means, rising poverty and unemployment," Noureddine...

Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and prosperity of countries in the world

Kuwait's crown prince announced Wednesday the dissolution of parliament and called for new elections amid escalating disputes between the legislative assembly and cabinet. The move came as 21 opposition MPs have been on strike for eight days in the parliament headquarters over the delaying of legislative sessions and the failure...

Leaders at the upcoming G7 summit in Germany will announce new measures aimed at pressuring Russia over its invasion of Ukraine, a senior US official said Wednesday.

An estimated 2,000 homes have been destroyed by the deadly earthquake in Afghanistan, and a lack of machinery is hampering a rush to find survivors, a UN envoy said Wednesday. The earthquake struck a remote border region of Afghanistan overnight killing at least 1,000 people and injuring hundreds more, with...

Israel on Wednesday said it was reinstating an increase in entry permits for Palestinian workers from the blockaded Gaza Strip, cancelling a suspension announced days earlier.

Joe Biden pitched a temporary fuel tax break Wednesday to help American drivers face the highest inflation in four decades, but critics called it window dressing by an unpopular US president ahead of difficult midterm elections.

The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday. Powell, whose testimony before senators was closely watched by investors and analysts, also said the world's largest economy faces an "uncertain"...

Oil prices fell Wednesday on worries over weakening demand in the slowing global economy as Federal Reserve Chief Jerome Powell acknowledged interest rate hikes could lead to a recession. US stocks had a choppy session, pushing into positive territory for a time after Powell reiterated the need to counter soaring...

UN Resident Coordinator for UAE Dr. Dena Assaf has praised the UAE’s environmentally-friendly endeavours to protect the environment and achieve sustainable development goals. The UN official hailed Abu Dhabi's decision to ban the use of single-use plastic bags from 1st June, as the first city in the Middle East. This...

Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year high above nine percent.

The trade exchange volume between Saudi Arabia and Jordan reached 16.6 billion riyals ($4.42 billion) in 2021, compared to 11.6 bn riyals in 2020. The federation of Saudi Chambers of Commerce and Industry said this in its economic report released Wednesday 22 June 2022. Moreover, the volume of Saudi exports...

UAE’s Ministry of Finance has announced that the revenues of federal authorities in the first quarter of 2022 amounted to AED11.339 billion ($3 billion) while their expenditures amounted to some AED11.354 billion during the same period. In the financial performance report of the outcomes of the implementation of the general...

Afghanistan is frequently hit by earthquakes especially in the Hindu Kush mountain range, which lies near the junction of the Eurasian and Indian tectonic plates.