AEMOB Forum will be held in Qatar from April 30 to May 2

The aim is to offer trade finance solutions to businesses in UAE.

Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a one percent increase compared to the same month last year. According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at...

Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday. Debt, trade barriers and policy uncertainties are dulling...

New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of the Good Friday holiday. The Dow Jones Industrial Average advanced 0.2 percent to 39,829.51. The broad-based S&P 500 Index was flat at 5,247.74, while the tech-heavy Nasdaq Composite Index retreated...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry and Thailand have explored ways to boost trade and economic cooperation. In this connection, the SCCI has engaged in high-level discussions with a Thai diplomatic delegation, exploring avenues for enhancing economic cooperation and boosting the trade exchange volume between the two countries....

The Panamanian-flagged, Chinese-owned and operated Huang Pu issued a distress call but did not request assistance, US Central Command said. The rebels, who control much of Yemen's Red Sea coast, have launched dozens of missile and drone strikes on shipping over the past four months, actions they say are in...

Australia, Canada and Sweden, which were among those states, announced earlier this month they were resuming aid. Ten percent of the Finnish funding will be allocated to risk management, the minister said.

Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In this connection, Jasem Mohamed Albudaiwi, Secretary General of GCC, and Dr. Omer Bolat, Minister of Trade of Turkey, signed a joint statement to initiate negotiations between the GCC and Turkey....

MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of energy flows to the East - growing local markets will be able to "absorb" its supply, Russian Foreign Minister Sergey Lavrov said. Lavrov said this in an interview for the...

Yemen's Iran-backed Houthi rebels discussed "expanding confrontations and encircling" Israel in a meeting in Lebanon with Hamas and other Palestinian factions, a Houthi official told AFP. Houthi attacks on Red Sea ships since the start of the Israel-Hamas war have disrupted global trade, actions the rebels say are in solidarity...

Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is expected to continue growing at the same pace in 2024, said Danny E. Sebright, President of the US-UAE Business Council. Sebright added, in statements to the Emirates News Agency (WAM),...

Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said. Commercial ships have been taking longer and costlier journeys around the southern tip of Africa to avoid attacks by Yemen's Houthi rebels in the Red Sea.

ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade and investment between the two nations.   The agreement was signed in the Hungarian capital Budapest by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and...

DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the UAE. There's been a significant increase in Indian businesses setting up there, with 28 percent more new companies in 2023 compared to the previous year. This resulted in over 190...

TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products worth US$5.5 billion to over 130 countries during the first eleven months of the year. Rouhollah Latifi, the spokesperson for the Trade Development Commission at the Iranian Ministry of Industry,...

The deal will see the European Free Trade Association (EFTA) -- made up of non-European Union nations, including Iceland and Liechtenstein -- invest $100 billion over 15 years in India, the world's fifth largest economy, India's Trade Minister Piyush Goyal said.

Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion. The agreement was signed by Minister of Finance Ali bin Ahmed Al Kuwari and Minister of Economy and Information Technology in Estonia Tiit Riisalo. Stressing the importance of the agreement, Al Kuwari said...

Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and Wall Street shares dropped ahead of the release of key US economic indicators. Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000...

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country. Top economic officials have stressed the UAE's significant role in supporting the...

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation continues to worsen in the country, slamming the implementation of "diktats from the International Monetary Fund" (IMF) at the expense of ordinary Tunisians.

Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu Dhabi Declaration, a landmark document securing important new trade agreements that will extend the benefits of the global trading system to more nations. Following a week of intensive negotiations, Dr...

Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite our best efforts, we failed to agree on some texts which are of great importance to many of our members," said Al Zeyoudi, who also serves as the UAE's foreign...

In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while the mobilization of reservists and the displacement of communities on the borders with Gaza and Lebanon have disrupted the economy. Confronted with the conflict, Arab countries that have normalized relations...

The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release. It will help reduce the costs of global services trade by more than $119 billion every year, it added.

Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system" and boost international cooperation. "Looking around, uncertainty and instability are everywhere," the WTO chief said, adding that the world is in an "even tougher place today" compared to two years...

Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa, Chief Economist at the World Trade Organization (WTO), said the country's focus on low tariffs, export diversification, and active participation in the multilateral trading system demonstrates its commitment to free...

Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of 2023 sustaining a level comparable to the previous quarter. According to recent data from the General Authority for Statistics (GASTAT), the trade surplus in December 2023 was SR39 billion ($10.4...

The company said lower energy prices cut into its profits.

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member states traded over US$5 billion (€4.7 billion) worth of goods in 2023. Trade between Iran and the member states of the European Union recorded a decrease of 9 percent from...

The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to Israel, in solidarity with the Palestinians in Gaza. In December the United States announced a maritime security initiative, Operation Prosperity Guardian, to protect shipping in the area.

AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food and beverage trade exhibition, in Dubai, UAE.The Jordan Exporters Association (JEA) is coordinating the country's participation in the event, which will open next Monday at Dubai World Trade Center.The JEA’s...

WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the final touches to a further fisheries deal. But other potential agreements seem stuck in the weeds as anxiety swells over the impact of current geopolitical tensions.

Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential to increase the volume of their bilateral trade to $3 billion. Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran...

Turkey and Egypt cut ties in 2013 after Sisi, then Egypt's defense minister, ousted Islamist president Mohamed Morsi, an ally of Turkey and part of the Muslim Brotherhood movement. At the time, Erdogan said he would never speak to "anyone" like Sisi, who in 2014 became president of the Arab...

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook. "When you add variables to what is turning out to be probably the lowest growth of the last 55...

A total of 17 Houthi fighters were killed in US strikes, the Iran-backed Yemeni rebel group said through its official media. "The bodies of a number of martyrs of the nation as a result of the bombing of the American-British aggression were carried through Sanaa in a solemn funeral procession,"...

DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in New York, Brooklyn and Washington DC as it continues to build on growing bilateral trade and investments between the two countries. In 2023, DMCC saw a rise of over 10...

Doha, Qatar-- Qatar and Egypt are looking to boost trade and economic ties between the two countries, besides exploring ways to encourage investors from Qatar to widen their investment in Egypt. In this regard, Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari's met with Vice President of...

The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated..

Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on procedures, requirements, targeted markets, and available opportunities for exporting products globally. General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched a series...

ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next month to address the potential challenges of de-globalization and its impacts on global supply chains, Minister of State for Trade of Spain Xiana Mendez said. “The main challenges we may...

"Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia department, adding that "the drop in trade accelerated in the beginning of this year."

Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries. In this regard, Khalid Najibi, First Deputy of the Chairman of the Bahrain Chamber of Commerce and Industry (BCCI), highlighted the high potential of investment opportunities for the Bahraini private sector and its...

Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy city. Head of the Iranian-Turkish parliamentary friendship group in the Iranian shura council Adel Najafzadeh said during the recent visit of the Iranian President Ebrahim Raisi to Turkey, Raisi and...

Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment climate, numerous opportunities available in both countries, and identified the most important sectors for cooperation and partnership In this regard, the acting general manager of the Qatar Chamber, Ali Saeed...

US forces struck an anti-ship missile in Houthi-held Yemen that they said was ready to fire, hours after the Iran-backed rebels caused a fire on a British tanker in the Gulf of Aden. US and British forces have launched joint strikes aimed at reducing the Houthis' ability to target vessels...

RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU) between Al Jouf Agricultural Development Company (JADCO) and E Green Global (EGG) of the Republic of Korea. The agreement involves the transfer and localization of potato seed production techniques in...

Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the digital-infrastructure sector with an emphasis on data centres in Malaysia. The MoU centres on establishing robust and efficient collaboration through the development of bilateral relationships between public and private organisations....

PARIS, FRANCE - France's top constitutional authority on Thursday rejected parts of a controversial immigration bill adopted under pressure from the right, in a ruling applauded by government but slammed by the far right. The bill adopted last month is a flagship reform of President Emmanuel Macron's second term, but the...