UAE SMEs show steady optimism despite economic headwinds, says RAKBANK SME Confidence Index 2025
What's especially encouraging from the survey, is the sector's forward-looking mindset. We're seeing increased focus on entering new markets, investing in talent, and modernising payment infrastructure. At RAKBANK, we see our role as a partner in that journey, providing not just financial solutions but also the advisory support needed to help them grow with confidence.
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Al Bawaba
8 hours ago
- Al Bawaba
How Gaza occupation could drain Israel's economy?
ALBAWABA - Israel is getting ready for its first general strike on August 17. Families of prisoners and a number of social groups that want the war to end are leading the protests. Also Read Israeli airstrike kills Palestinian journalist Anas Al-Sharif Even more people are afraid that the conflict will get worse, which will hurt both people and the economy. At first, the Histadrut labor group was supposed to take part, but it pulled out for a number of reasons. The people who are organizing the strike say that keeping the war going will make the country's economic and social problems worse, in addition to the moral need to free the prisoners. Last week, the security cabinet agreed to go ahead with taking Gaza City as part of a larger military offensive against Hamas. This made people even more worried. Experts say that even a limited stay will cost a lot, with new taxes, longer tax freezes, and big cuts to infrastructure, healthcare, education, and welfare. The Finance Ministry is looking at the prices of recent operations, such as "Gideon's Chariots," which ended after three months. The Defense Ministry and the Finance Ministry have already agreed to give an extra 42 billion shekels over the next two years, with 28 billion shekels coming in 2025. This will be used to pay for the operation in Gaza and another battle against Iran. Government officials say, though, that there has been no real talk in the government or the Knesset about how the occupation of Gaza will affect the country's finances in the long run. It is thought that calling up a quarter of a million reservists before the end of the year would cost 7.5 billion shekels per month. Other costs like fuel, ammo, and emergency help could add another 12–15 billion shekels per month. Former IDF budget chief Brig. Gen. (Res.) Ram Aminach warned that under international law, Israel would have to provide all civil services in Gaza after the war, including water, sanitation, electricity, healthcare, and more, without being able to collect local taxes or rely on foreign aid. «احتلال غزة» ليس مجرد معركة عسكرية.. إسرائيل على أعتاب حرب اقتصادية قد لا تنتهي! فهل تتحول «أعباء القطاع» إلى «فاتورة تل أبيب»؟
Jordan Times
10 hours ago
- Jordan Times
Jordan, Egypt sign agreements to boost cooperation, multi-sector partnerships
AMMAN — Jordan and Egypt on Tuesday concluded the 33rd session of their Joint Higher Committee by signing nine agreements aimed at enhancing cooperation across multiple sectors. The meeting was co-chaired by Prime Minister Jafar Hassan and Egypt Prime Minister Mostafa Madbouly. The agreements span key areas including energy, electricity interconnection, investment, industry, tourism, transport, and transit. Both countries reaffirmed their commitment to building on their longstanding fraternal ties, guided by His Majesty King Abdullah and Egyptian President Abdel Fattah Al Sisi, to promote mutual interests, according to a Prime Ministry statement. Prime Minister Hassan described Jordan-Egypt relations as a benchmark for Arab cooperation, highlighting that regular committee meetings since 1985 have deepened collaboration across numerous fields. He also pointed to continuous growth in trade volumes, increasing Jordanian private sector investment in Egypt, and expanding opportunities in tourism, transport, and transit. Hassan emphasised the shared commitment to broadening cooperation in energy and electricity networks, including activating the trilateral mechanism involving Iraq. Addressing economic challenges common to both countries, he stressed that creating job opportunities for youth is a top priority underpinning the Economic Modernisation Vision, which seeks to attract investment, stimulate growth, and boost employment, the statement said. On regional matters, Hassan affirmed that Jordan and Egypt stand united on key challenges, foremost the Palestinian cause and the ongoing Israeli war on Gaza. Both prime ministers condemned the "brutal" conflict, called for intensified efforts to end the aggression, ensure the delivery of humanitarian aid, reject starvation tactics in Gaza, and oppose provocative actions in the West Bank and Jerusalem. Hassan lauded Egypt's significant role in Gaza, noting ongoing coordination at leadership and ministerial levels, according to the statement. Regarding Syria, Hassan reaffirmed Jordan's support for the new Syrian government's efforts to restore security, stability, and prosperity, and to address pressing challenges through cooperation. Madbouly highlighted the deep-rooted bilateral relations and voiced Egypt's eagerness to remove obstacles hindering economic cooperation, citing energy, gas supply, and electricity interconnection as exemplary areas of partnership. He also affirmed both countries' rejection of any attempts to alter the demographic or geographic status in Gaza or the West Bank. Madbouly stressed that Egypt and Jordan maintain full coordination on developments in Gaza, the West Bank, and other regional issues. The agreements signed include an executive programme for scientific cooperation between Jordan's Ministry of Planning and International Cooperation and Egypt's National Planning Institute; an executive programme between Jordan's Free and Development Zones Group and Egypt's General Authority for Investment and Free Zones and a memorandum of understanding on consumer protection, according to the statement. Additional agreements cover cooperation in local development, protecting cultural heritage and combating illicit antiquities trade, a memorandum of understanding between the finance ministries of the two countries, an executive programme for youth cooperation (2025–2028), a programme to implement a memorandum of understanding between the ministries of Awqaf (religious endowments) and an agreement on government procurement cooperation.
Jordan Times
10 hours ago
- Jordan Times
Lebanese craftsman keeps up tradition of tarboosh hat-making
TRIPOLI, Lebanon — Nestled among shops in a bustling market in north Lebanon's Tripoli, Mohammed Al Shaar is at his workshop making traditional tarboosh hats, keeping up a family craft despite dwindling demand. With a thimble on one finger, Shaar, 38, cuts, sews and carefully assembles the pieces of the conical, flat-topped felt hat also known as a fez, attaching a tassel to the top. Reputedly the last tarboosh craftsman in Lebanon, the Tripoli native has been making the hats for 25 years in know-how passed on by his grandfather. "Our family has been carrying on this craft for 125 years," said Shaar, who also studied tarboosh making in Egypt. The brimless hats made with maroon, black or green felt, some bearing floral motifs or embroidered with Lebanon's national emblem, the cedar, sit on display in the small workshop. While the tarboosh has been around in Lebanon for several centuries, it became particularly common during the late Ottoman period. "The tarboosh used to have great value -- it was part of day-to-day dress, and the Lebanese were proud of it," Shaar said, noting the hat now is largely seen as a traditional item or appealing to tourists. "Nowadays, people barely wear the tarboosh, except for traditional events," he said. As well as a onetime symbol of prestige or social status, the hat was used for non-verbal communication, Shaar said. "When a man wanted to woo a beautiful young woman, he used to slightly tip his tarboosh to the left or right," he said, while knocking someone's tarboosh off was offensive. As successive crises have hit Lebanon, including a catastrophic 2020 port explosion in Beirut and a recent war between Israel and Hizbollah, tourism has diminished. Shaar said his "work has slowed, and demand for the tarboosh has dropped" as a result. Sales have plummeted to just four or five of his handmade hats a month compared to around 50 before the crisis, he said. Recent customers have mainly been music and dance troops, or religious figures who wear the tarboosh covered with a turban. Shaar said he used to employ three others but now works alone, selling his handmade hats for around $30. But he said he wasn't about to close up shop or abandon his passion for tarboosh making. "I feel like my soul is linked to this craft. I don't want to shut or to stop working," he said.
