Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a preferred destination for Chinese travelers, alongside traditional hotspots like Thailand and Malaysia. Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese...
EU joins chips race with 42 bn euro bid to rival Asia
The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply.
Australia to reopen borders to tourists on February 21
Every month of border closures has cost businesses an estimated US$2.6 billion, according to the Australian Chamber of Commerce and Industry
Coups, Covid-19 repercussions cloud African Union summit
The two-day summit should discuss how to be more proactive in addressing factors that give rise to coups, including terrorism-related instability and frustration over constitutional revisions that extend leaders' time in power, said Solomon Dersso, founder of the AU-focused Amani Africa think tank.
Europe clubs lost €7bn due to Covid-19 pandemic: UEFA
The latest UEFA study includes the consolidated results of these same 711 clubs for the year 2020, as well as the anticipated financial statements of 95 major teams for the year 2021, particularly marked by games played behind closed doors.
Omicron sub-variant found in 57 countries : WHO
The fast spreading and heavily mutated Omicron variant has rapidly become the dominant variant worldwide since it was first detected in southern Africa 10 weeks ago.Pfizer seeks US approval of Covid vaccine for children under 5
Pfizer and BioNTech will soon ask US regulators for emergency authorization for a Covid-19 vaccine for children aged five and under, US media reported Tuesday. This is the last age group in the United States that is not yet eligible for coronavirus shots. As early as Tuesday, the companies could...Technology changes worker-firm relationship
Technology is allowing firms to shift an increasing share of work outside of their traditional boundaries, reducing costs and improving flexibility. Can remote and gig work be mutually advantageous? The answer is complex, writes Juerg Kronenberg - Partner at Bain & Company Middle East.
IMF and World Bank delay annual meet again
The annual meetings set to take place in Morocco will be held in Washington.Boeing sells 34 cargo planes to Qatar Airways
This deal with Qatar Airways should boost Boeing and its latest widebody plane the 777X.High gas prices to hit demand in 2022: International Energy Agency
IEA said the demand for natural gas is expected to fall sharply in Europe and slow in Asia. Gas demand rebounded last year as the world economy recovered from the Covid pandemic and restrictions were eased, while an unusually cold winter also drove up consumption.
Top oil producers to discuss high crude prices
Analysts expect that this meeting will decide to boost output by 400,000 barrels per day in March, in line with their strategy to slowly re-open the taps since May last year.
Italy re-elects Mattarella as president, averts political chaos
Mattarella has already served a tumultuous seven-year term, during which he has sought to be a unifying figure through five different governments and the devastation of coronavirus.Vaccine patents accord possible in weeks, says WTO
Developing countries lagging in vaccinating their populations have been pushing for waivers on the patents on Covid-19 vaccines.
Morocco starts construction of anti-Covid vaccine plant
Home to 36 million inhabitants, Morocco is hoping that its vaccination drive will help eradicate Covid-19. More than 23 million people have already received a second dose against coronavirus, according to the health ministry. Authorities hope to vaccinate 80 percent of the population with either Sinopharm or Pfizer-BioNTech.
LVMH sees record sales, profit despite pandemic
The world's leading luxury group more than recovered from the coronavirus pandemic as it earns a record €64.2 billion ($71.5bn) in 2021. The company's net profit hits €12 billion.Microsoft posts strong earnings
The tech giant bought Activision Blizzard last week.Pandemic causing education losses globally: UNICEF
School closures due to the Covid-19 pandemic have caused "nearly insurmountable" losses in education among children around the world, UNICEF said on Monday. In many countries, in addition to depriving millions of children of the chance to acquire basic skills, these disruptions have affected students' mental health, put them at...Omicron led Covid-19 to endemic stage in Europe: WHO
Omicron leads to less severe infection among vaccinated people, has raised long-awaited hopes to bring an end to Covid-19 pandemic.
Netflix subscriber growth slows
The company saw 221.8 million subscribers in 2021.
Global vaccine program COVAX seeks $5.2b in funding
COVAX's initial goal was to deliver 2 billion doses by the end of 2021, but its lack of cash when vaccine deals were made delayed its delivery.
Covid-19 pandemic far from over: WHO
The WHO has warned that the sheer numbers of people infected will mean many people are still falling seriously ill and dying.China saw pandemic-defying GDP growth slow last year
Growth in the fourth quarter was the slowest in more than a year, at 4 percent, down from 4.9 percent from July to September.
Gulf watch: Sectors that will grow most in 2022
The business environment in the region will experience a transformation that will have a far-reaching impact on economic trends and social dynamics.Covid and its effects continue to pose threat to world: WEF risks report
The Global Risks Report 2022 released by the World Economic Forum said vaccine inequality and a resultant uneven economic recovery risk compounding social fractures and geopolitical tensions. The global economy was expected to be 2.3 percent smaller by 2024 than it would have been without the pandemic.IMF warns developing countries of ‘economic turbulence’
Emerging economies should gird for possible rough times as the US Federal Reserve prepares to raise interest rates and world economic growth slows because of the Omicron variant of Covid-19, the IMF warned Monday. The International Monetary Fund, which is scheduled to release updated economic forecasts on January 25, said...World passes 300 million Covid cases as Omicron breaks records
The virus mutant has spurred the world to record 13.5 million cases in the last week alone -- 64 percent higher than the previous seven days -- the global average of deaths dropped three percent. France's public health authority said Friday that the risk of hospitalisation was about 70 percent...
Omicron variant spread due to mix of factors
Omicron transmitted very efficiently between people due to a number of reason including make-up of the Covid-19 variant and increased social mixing and not adhering to measures such as physical distancing.World Bank okays $90m in pandemic aid for Iran
World Bank support for Iran's Covid-19 response is expected to help the country mitigate the ongoing humanitarian crisis within its borders, with the development lender having already called the nation the epicenter of Covid-19 infections in the region.
Omicron surge may lead to newer, more dangerous variants: WHO
A top WHO official has sounded an ominous note of caution, that the soaring infection rates could have the opposite effect. According to him, the Omicron variant of coronavirus could pose a greater threat because of the sheer number of cases.Top Saudi Arabian companies pay stable to higher dividends in 2021
Saudi Arabia's 10 biggest companies witnessed the recovery of dividends paid out to investors in 2021, as the economy began to rebound from Covid-19 setbacks, although it remains to be seen how the Omicron variant will affect the gains. The 10 companies, valued at more than $2 trillion (SR 7.5...
CES prepares to draw tech crowd despite Covid-19 surge
Multiple companies — including Amazon, BMW, and Microsoft — reduced or canceled their attendance as Covid-19 case numbers broke records, but organizers said safety protocols were in place for thousands of expected attendees. But some experts urged caution and daily testing, as not all attendees can be counted on to...
UAE bans travel for unvaccinated citizens from Jan 10
Travel is permitted for non-vaccinated citizens, if the cases include medical exemption from taking the vaccine, humanitarian cases, and individuals traveling for medical and treatment purposes
Israel ‘leads the way’ with 4th Covid jabs for vulnerable
According to researchers at Jerusalem's Hebrew University, new daily infections could rise to 15,000 or even 20,000 within the next 10 days. A total of almost 1.4 million cases of Covid infection, including 8,243 deaths, have been officially recorded in Israel.Qatar suspends leave for healthcare staff amid Covid surge
Qatar's main healthcare provider has suspended leave for all medical and administrative staff dealing with Covid, as infections surge across the Gulf. The six Gulf Cooperation Council (GCC) states -- Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates, as well as Qatar -- have been recording their highest...
Iraq records high positive indicators for the economy in 2021
The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an improvement in many fields.What were the top geopolitical events of 2021?
The year 2021 was, despite the dampened activity due to the Covid-19 pandemic, chock-full of landmark events.
UAE extends $2m grant to Costa Rica in flood response
The UAE has extended a grant of $2 million to Costa Rica to help the Central American country battle its flooding problem.Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was impacted by the lockdowns and the travel bans due to the breakdown of Covid-19 in many world countries. According to the international trade report for Oct. 2021, released by the...Omicron hits Christmas weekend travel: Over 6,000 flights scrapped
More than 6,000 flights have been canceled worldwide over the long Christmas weekend and thousands more were delayed, a tracking website reported on Sunday, December 26, as the highly infectious Omicron variant of Covid-19 brought holiday hurt to millions of fliers.Canada climate crisis impacts agricultural production and supply chains
Flood devastation, heavy rainfall, and Drought in Canada cause severe damage to the food supply chain and agricultural production.
Omicron surge pushes Morocco to extend flight ban
The restrictions have dealt a punishing blow to the North African country's vital tourism sector.IMF extends Covid emergency funding by 18 months
The emergency funding was set up to help nations that have been severely impacted by the Covid-19 pandemic.
Indian Minister says UAE most popular tourist destination for his countrymen
The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament by the Minister of State for External Affairs, V Muraleedharan. The Minister Muraleedharan confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this...Omicron now dominant in US as WHO urges greater effort to end pandemic
Omicron now accounts for 73.2 percent of new US cases over the past week ending Saturday.WEF says ‘will defer’ Davos meeting over Omicron fears
The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be held in "early summer", the organizers said. Last year's edition was canceled because of the pandemic.
Dubai airport fully operational for first time since pandemic
Dubai airport, one of the world's busiest travel hubs, is fully operational for the first time since the coronavirus pandemic erupted in March 2020, officials said Monday. The opening of sections closed as the Covid-19 crisis took hold comes as the United Arab Emirates records a rise of infections amid...
Chinese firms will build 1,000 schools in Iraq
School constructions across Iraq will take two years and three phases.After trade push, Turkey pledges 15m Covid-19 vaccines for Africa
Turkey has invested heavily in developing trade and diplomatic ties with Africa under Recep Tayyip Erdogan since 2003.
Tunisia’s president announces constitutional referendum
Kais Saied presented a roadmap for restoring democratic institutions, and announced a nationwide public consultation from January 1 until March 20.
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
