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Global Economy

Flights to Los Angeles will be resumed from 22 July
9 July 03:08 PM Emirates airline reopens flights to six more cities
Dubai - Mubasher: Emirates airline on Thursday announced the resumption of services to six more destinations, taking the airline’s network to 58 cities by mid-August, including 20 points in Europe and 24 points in the Asia Pacific region. Flights …
This is NEOM’s first partnership with leading renewable energy partners
7 July 03:47 PM NEOM, ACWA Power, Air Products ink $5bn agreement
Riyadh - Mubasher: Air Products has signed an agreement with ACWA Power, and NEOM for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, equally owned by the three partners, will be …
The airline aims to operate nearly 45% of its pre-COVID capacity by August
7 July 12:54 PM Etihad Airways to expand services to 58 cities worldwide
Abu Dhabi - Mubasher: Etihad Airways announced the gradual expansion of normal scheduled services to more cities across its global network following the relaxation of COVID-19 travel restrictions on outbound and inbound travel for citizens and …
Mansour Group, from Egypt, came in first place
28 June 03:24 PM Top 100 Arab family businesses include 36 Saudi firms - Forbes
Mubasher: Saudi Arabia has dominated this year’s Forbes Middle East Top 100 Arab Family Businesses, which are seen as the backbone of the region's economy. Saudi Arabia came in the lead with 36 family businesses, followed by the UAE with 21 …
Pilgrims pray around the Kaaba, Hajj 2019 - (Photo Credit: Getty Images)
23 June 11:20 AM Saudi Arabia to limit Hajj this year to citizens, residents
Riyadh - Mubasher: Saudi Arabia has allowed the Hajj for this year to go forward with a small number of pilgrims, limited to citizens and residents aged 65 or younger, who are already in the kingdom, the Saudi Ministry of Hajj and Umrah said in a …
UAE Minister of Energy and Industry, Suhail Al Mazrouei
7 June 10:02 AM OPEC+ prolongs oil output cuts for another month
UAE – Mubasher: OPEC and OPEC+ countries unanimously agreed to extend the oil production cut pertaining in May and June until the end of July, Suhail Al Mazrouei, the UAE Minister of Energy and Industry announced. Al Mazrouei referred through his …
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
Women currently outnumber men at universities in 15 Arab countries
2 June 04:44 PM Women's wealth in Middle East at $786bn with further growth expected
Mubasher: Women currently represent 13% of the Middle East wealth segment, with dramatic growth to be seen in the region during the coming years, according to a recent report by the Boston Consulting Group (BCG). Women's wealth in the Middle East …
Emirates airline resumed flights to nine cities
2 June 09:43 AM Emirates resumes flights to 8 countries
UAE - Mubasher: Emirates airline has announced the resumption of scheduled passenger flights to nine cities in eight countries during May, the Dubai-based carrier announced on its official Facebook account. Emirates hopes that flights to more …
The GCC is forecast to witness an economic recovery
1 June 04:38 PM Gulf states GDP expected to contract by 5.9% in 2020
Mubasher: The gross domestic product (GDP) of the Arabian Gulf countries is expected to retract by 5.9% in 2020 when compared to 2019, as the world economy is suffering from the consequence of the coronavirus (COVID-19) pandemic. Fiscal deficit in …
Emirates Airline is set to lay off some employees amid the COVID-19 crisis
1 June 03:01 PM Emirates foresees recovery of airline industry by June 2021
Dubai - Mubasher: Emirates airline President, Tim Clark, expects the airline industry to see a recovery as of June of next year, after being affected by the coronavirus (COVID-19) pandemic, according to Zawya. Clark made the announcement …
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
HMM Algeciras containership's length is around 400 metres
24 May 10:29 AM World's largest container to cross Egypt's Suez Canal
Cairo - Mubasher: The Suez Canal will receive South Korea's HMM Algeciras, the world's largest containership, the Egyptian Ministry of Transport announced in a recent statement. The 24,000-TEU-class vessel will pass through the canal as after …