AMMAN, JORDAN – Jordan Chamber of Commerce (JCC) and Oman Chamber of Commerce and Industry on Saturday discussed enhanced cooperation and investment partnership.The two sides pledged during a meeting to forge robust commercial relations, remove hindrances, reactivate bilateral agreements, exchange more visits by economic teams and hold joint exhibitions.Participants stressed...

It will collaborate with Abu Dhabi Investment Office.

Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023, which was made by 48 international companies from 23 countries, according to data from FDI Intelligence.The UAE’s food and beverage sector generated $16.4 billion in retail sales, including fresh food...

Riyadh, Saudi Arabia -The Middle East Financial Investment Company (MEFIC Capital) has unveiled the establishment of the Saudi Film Fund, boasting a total capital of SR375 million ($100 million), with a substantial 40% investment from the Cultural Development Fund. This collaborative effort signifies a significant stride in the Kingdom's film...

Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from Canada.In this connection, the Saudi Minister of Education, Yousef bin Abdullah Al-Benyan, along with the accompanying education delegation, visited several educational institutions and universities in Canada, where he met with...

The global pipe maker invested US$60m in the business.

Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment.The services encompass issuing regional headquarters as a branch or as a new foreign company,...

The aim is to foster avenues for collaboration in technology.

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways of enhancing cooperation in the investment field and developing mechanisms for promoting the joint efforts aimed at supporting the business community in Sharjah and Oman.The two sides explored promising opportunities...

Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.

Sales retreated 4 percent to 19.57 billion euros.

Doha, Qatar-- Qatar and Egypt are looking to boost trade and economic ties between the two countries, besides exploring ways to encourage investors from Qatar to widen their investment in Egypt.In this regard, Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari's met with Vice President of the...

Amman, Jordan-- The UAE and Jordan have explored opportunities for collaboration in the fields of economy, investment, food security, renewable energy and sustainability in a meeting between the UAE President Sheikh Mohamed bin Zayed and Jordan's King Abdullah in Amman.The meeting between the two leaders, which took place at Basman...

New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more big tech earnings later in the day.Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates.Adam Sarhan of 50...

DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.  There are currently 1.6 million individuals with investable assets of over US$1 million in...

Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri, Minister of Economy, recently met with Greg Hands, British Minister of State (Department for Business, Energy Industrial Strategy). The bilateral meeting explored new opportunities for economic and investment cooperation, as...

Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency.The fund's total value reached close to 15.8 trillion kroner last year.The 16.1 percent return follows a...

Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries.In this regard, Khalid Najibi, First Deputy of the Chairman of the Bahrain Chamber of Commerce and Industry (BCCI), highlighted the high potential of investment opportunities for the Bahraini private sector and its Hungarian...

Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment climate, numerous opportunities available in both countries, and identified the most important sectors for cooperation and partnership In this regard, the acting general manager of the Qatar Chamber, Ali Saeed...

MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million) in 2023, up 18.6 percent from US$992 million (RO382.3 million) in 2022.According to the Oman News Agency, the banking sector benefited from several local economic indicators in 2023, including economic...

Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering a boost to President Joe Biden as he starts his reelection campaign.The world's biggest economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by a...

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom.DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise.The...

SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects.CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with local...

Doha, Qatar--The Qatar Chamber (QC) discussed ways to enhance cooperation and exchange expertise with Korean companies in agriculture and food security.The issues were discussed in a meeting with a Korean delegation representing from the Hyundai Research Institute (HRI).The meeting was attended by QC board member and Chair of Food Security...

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US in 2023, a report by the United Nations Conference on Trade and Development (UNCTAD) said.The number of these projects increased by 28 percent compared to 2022,...

It will meet growing demand for internet services in the region.

It posted a 31% jump in net profit to US$229.13m in 2023.

Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi Arabia, Bloomberg reported. The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain.“Our aim is to make the best quality steel...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and Development (AAAID) to support business community and foster trade and investment between the two entities.The discussions took place at the chamber's headquarters, where Abdullah Sultan Al Owais, Chairman of the...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report.The report highlights a robust 30.4%...

Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the highest volume in the region, Iran's ambassador to Saudi Arabia, Alireza Enayati, said during his meeting Sunday with the President of the Federation of Saudi Chambers, Hassan bin Mujab Al-Huwaizi....

Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries.In this regard, Qatar Chamber Acting General Manager Ali Saeed Bu Sherbak Al Mansouri met here on Sunday with CEO of the Czech Trade Promotion Agency (CzechTrade) Radomil Dolezal.The meeting took place at...

"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public health, sustainability, energy, industry, and the economies of the future. This aligns with the ambitions and national priorities for research, development, and innovation declared by the Kingdom," he adds.

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry and Mineral Resources, has witnessed the signing of several memoranda of understanding (MoUs) between a number of government agencies, companies and institutions.New exploration sites were announced as well as other...

Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement.In this connection, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, have signed a joint statement to confirm the...

"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services of the crypto ecosystem. This trend bodes well for the growth of the UAE’s crypto sector. There's every reason to believe that institutional investment will continue to gain momentum," she...

These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate, obtain work permits for themselves and family members and access exclusive perks and services provided by the Premium Residency Center in collaboration with government partners.

Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors.The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to supporting...

Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a preliminary study of Microsoft's multi-billion-dollar investment in ChatGPT developer OpenAI to see if it could be a disguised merger.The early-level examination is "checking whether Microsoft's investment in OpenAI might be...

Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage points below the average of the 2010s, the World Bank said in its latest report on the health of the global economy. If the forecast proves accurate, 2024 would mark...

The developer will expand business in Dubai, Abu Dhabi.

RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus signed on Monday a memorandum of understanding to boost investment and trade between the two countries.The memo was signed at the federation's headquarters by...

DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai Department of Economy and Tourism (DET), has joined forces with Chi-X Digital Assets (CXDA), an AI-based fintech platform.CXDA provides short-term debt products that help generate liquidity, facilitate investment, maximize economic...

It is part of the company's planned US$2bn investment.

Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions that the UK intends to use. The first plant of the uranium fuel will be in northwest England and is scheduled to be operational by the 2030s, the government said.

Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same rate as last year.QNB, in its weekly commentary, said, "There is no doubt that expectations for 2024 were influenced by the experience of investor sentiment from 2023, when negative initial...

Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee operations related to parking spaces in Dubai.The newly established company will have financial, administrative and legal autonomy to fulfil its responsibilities, WAM reported.Also, the company's duration is set at 99...

Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment of US$3.46 billion during 2023, contributing to the kingdom's growth in international indicators and solidifying its position as a global logistics center. In order to enhance the attractiveness of Saudi...

Halliburton has been operating in the UAE for five decades.