News

Kuwait construction projects to double in 2023: report

19/01/2023

The value of awarded construction projects in Kuwait is expected to more than double in 2023 after sharply declining in 2022, according to a local bank report.  Awarded construction contracts in the OPEC oil producer tumbled by nearly 67% to 252 million Kuwaiti dinars ($832 million) in 2022 compared with 2021, showed the report by […]

Qatar’s strong platform a solid base for investors

18/01/2023

Qatar is one of the fastest- growing economies and most credible investment markets in the Mena region. The country’s economic policies have provided support for various sectors and bolstered their contribution to economic growth, thus strengthening and enhancing investor confidence in the national economy. Speaking to The Peninsula, Farhan Al Sheikh Al Sayed, Entrepreneur and Philanthropist […]

Dubai records over $1.79bln in realty transactions on Wednesday

18/01/2023

Dubai real estate market recorded 461 sales transactions worth AED1.25 billion, in addition to 95 mortgage deals of AED5.22 billion, and 53 gift deals amounting to AED154.86 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 384 villas and apartments worth AED921.97 million, and 77 land plots worth AED332.08 million. […]

Saudi approves $7.9bln industrial projects in 11 months

18/01/2023

Saudi Arabia issued permits for 885 new non-oil industrial projects with a combined value of nearly 28.7 billion Saudi riyals ($7.9 billion) in the first 11 months of 2022, according to the Industry and Mineral Resources Ministry.  The new permits boosted the total industrial projects in the largest Arab economy to 10,742 with a total […]

Tunisia: Tourism revenues up 11.6% in first 10 days of 2023, compared to 2019

17/01/2023

Tourism revenues posted an increase of 110.4% during the first ten days of 2023, compared to the same period of 2022 and 11.6% over 2019, according to the latest figures released by the Ministry of Tourism Tuesday. For the whole year 2022, tourism revenues saw a rise of 83.3% compared to 2021, reaching 4.279 million […]

Egypt achieved remarkable transformation in energy sector: Study

17/01/2023

A recent study issued by the Egyptian Center for Thought and Strategic Studies confirmed that, in recent years, Egypt has been able to achieve a remarkable transformation in the energy sector.She pointed out that Egypt is working to increase the volume of proven reserves of oil and gas, and to increase and enhance the volume […]

Eni, Chevron announce new gas discovery in Egyptian East Med field

17/01/2023

Italian energy group Eni and U.S. energy major Chevron said on Sunday they had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. The Nargis-1 well is part of Egypt’s 1,800-sq. km Nargis Offshore Area concession operated by Chevron, which holds a 45% interest in it. Eni also holds […]

UAE launches index in Davos to track opportunities, from AI to net zero and well-being

17/01/2023

The UAE announced in Davos on Tuesday the launch of an index to help business leaders and policymakers track disruptive trends and transformations and find opportunities to boost economic growth. The Future Possibilities Index, which will also include a survey of executives in 70 countries, builds on the 2020 Future Possibilities Report, commissioned by the UAE […]

Higher oil prices and improved macro-outlook to support GCC sukuks

16/01/2023

The favourable oil market dynamics and the macro-outlook for the GCC is supportive of regional sukuks in the medium term, a new report said. “Issuer fundamentals should continue to strengthen on the back of improved economic, fiscal and external prospects,” according to Azimut Middle East Annual Global Sukuk Outlook 2023. “Ample regional liquidity should be […]

Algeria: Nearly 3 million tonnes of cement, clinker to be exported in 2023

16/01/2023

 Nearly 3 million tonnes of cement and clinker will be exported in 2023 by the cement company “ECDE” of Chlef, coming under the Algerian Cement Industrial Group GICA, the company said on Wednesday. Link: https://www.aps.dz/en/economy/46359-nearly-3-million-tonnes-of-cement-clinker-to-be-exported-in-2023

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