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2,778.76 0.09%
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Algeria blighted by youth unemployment despite recovering oil prices - Dotemirates
2 month 5 day

Algeria blighted by youth unemployment despite recovering oil prices

ALGIERS: Two years after graduating from university, Ali Lamir, 26, has been spending his days sitting in a cafe in central Algiers thinking about how to land a job.He is not alone — more than one in four Algerians under the age of 30 are unemployed in a country that remains heavily reliant on exports of oil and gas, despite numerous official promises of economic diversification.Economists see little prospect of improvement despite a recovery in global oil prices. They have predicted that the government of veteran President Abdelaziz Bouteflika, 81, is likely to spend any increased revenues on imports, not...


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Business News

10 minute 39 second

3-Day Super Sale to return to Dubai’s Outlet Village

Dubai - MENA Herald: This November, the 3-Day Super Sale is set to return to The Outlet Village. Over three days, Dubai’s indoor shopping and leisure destination by Meraas will transform into a plaza market with retailers displaying their products outside the shops, inviting visitors to walk around and browse through the collections on sale while admiring the Tuscan-inspired interiors.  From 22 to 24 November, The Outlet Village will offer unbeatable discounts ranging from 50 to 90 per cent. Shoppers will have the opportunity to bag the best bargains while updating their autumn/winter wardrobes with the most popular womenswear, menswear...
10 minute 50 second

Apec summit ends without statement over US-China division

An Asian economic summit has ended without a formal leaders' statement for the first time because of US-China divisions over trade.Papua New Guinea's President Peter O'Neill said a closing statement for the Asia-Pacific Economic Cooperation (Apec) summit would instead be released in the coming days.The US and China revealed competing visions for the region at the summit.The two countries have been engaged in a tit-for-tat trade war this year.In his closing comments, Mr O'Neill said Apec would try to ensure "free and open trade" in the region by 2020. During the summit, the US said it would join Australia in...
12 minute 25 second

Dubai launches the world's largest sports mall

Dubai - MENA Herald: Dubai-based Viva City has announced the development of its Sport Society project, the world's largest commercial sports mall. It is designed to be a global architectural icon that elevates the UAE’s reputation and achievements at various levels as well as to meet the aspirations of the residents and tourists. It will take the concept of sport centres to unprecedented levels when it opens doors with a global event in 2020. Edgar Bove, head of design at Viva City, said: “The project will present big surprises both in design and activities, and will deliver a unique experience...

30 minute 17 second

Invest in Sharjah increases business prospects with EU investors at ‘Going Global’ in London

LONDON, 17th November, 2018 (WAM) -- The Sharjah FDI Office (Invest in Sharjah), the investment promotion agency dedicated to the continued transformation and economic diversification of Sharjah, has successfully eyed increased business opportunities with 80 industry experts and businesses from 20 European countries, during their participation in the 'Going Global' business event, which concluded in London, on Thursday. The annual event, which took place at the ExCel, is one of Europe’s biggest and largest platforms for businesses and suppliers looking to expand internationally, export or set up overseas operations to a number of global markets such as Africa, Asia, Pacific,...
1 hour 26 minute

VW embarks on $50 billion electrification plan

Volkswagen expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said on Friday. VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and explore further areas of cooperation with US automaker Ford. Diess said he hoped to have an outline agreement on cooperation with Ford fleshed out by the end of the year, with the initial focus on commercial vehicles. He added that a merger with Ford was not on...
1 hour 52 minute

Update: Kuwait airport resumes operations after halting flights

Update: Kuwait airport resumes operations after halting flights Staff Writer Thursday 15 November 2018 Kuwait’s aviation regulator has said that operations have resumed at the Kuwait International Airport after flights were temporarily suspended on Thursday due to the unstable weather conditions. The Directorate General of Civil Aviation first suspended all departing flights on Wednesday and said arriving flights would be redirected to Dubai, Bahrain and Dammam. State news agency KUNA later quoted director general of airport affairs Fahad Al-Wugayyan as saying that said flights were diverted to Riyadh, Dammam and Manama. “All flights departing from Kuwait were delayed and all...