UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
Economy
Geostrategy
Libya court sentences 17 ‘IS members’ to death
Tripoli, Libya-- A Libyan court on Monday sentenced 17 people to death after finding them guilty of joining the Islamic...
- The prosecution said that those on trial had killed a total of 53 people, "destroyed public buildings" and "disappeared dozens of people"
- Libya's collapse into violence after the revolt that toppled and killed dictator Moamer Kadhafi in 2011 left a power vacuum that was filled by a multitude of armed groups
Geostrategy
Iran says four security force members killed in attack
Tehran, Iran--A 'terrorist' attack killed four members of Iran's security forces in the country's southeast, the state news agency IRNA reported...
- According to IRNA, the Islamic Revolutionary Guard Corps members were killed "during a terrorist act" in the Saravan region of Sistan-Baluchistan province near the Pakistani border
- The region is one of Iran's poorest and is home to the Baluchi minority, who adhere to Sunni Islam rather than the Shiite branch predominant in Iran
Economy
Egypt’s IMF deal aims to reduce government debt
Cairo, Egypt--The IMF's new $3 billion financial support package for Egypt aims to reduce government debt to less than 80...
- Egypt negotiated its latest IMF loan as the economic fallout from the war in Ukraine exacerbated a foreign currency shortage resulting from Egypt's large trade deficit
- The package includes a monetary policy aimed at gradually reducing inflation, fiscal consolidation to ensure a downward public debt trajectory while enhancing social safety nets
Economy
UAE looks to deepen renewable energy partnership with Scotland
Dubai, UAE--A UAE delegation led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade is on...
- The delegation visited the Scottish Enterprise, which highlighted its efforts to transform Scotland’s economy through innovation and investment
- The UK is one of the UAE’s top trading partners as the volume of bilateral non-oil trade between the two reached US$7.4 billion in the first nine months of 2022
Geostrategy
France resolves months-long visa dispute with Algeria
Algiers, Algeria--France said Sunday it had ended months of tensions over a visa dispute with Algeria, just days after Paris and...
- According to a statement, French Interior Minister Gerald Darmanin, on a visit to the capital Algiers, announced a return "to a normal consular relationship" with Algeria
- In September 2021, Paris reduced visa quotas to its former colonies of Algeria, Morocco and Tunisia, in a bid to encourage the countries to cooperate against irregular migration
Economy
Sheikh Tamim says ‘exceptional’ World Cup delivered to fans
Paying tribute to the finalists and fans in a Twitter statement after the match, Qatar's ruler said that the Gulf...
- Sheikh Tamim bin Hamad Al-Thani paid tribute to the finalists and fans in a Twitter statement after the match
- Messi was prominently pictured wearing a 'bisht' traditional cloak that the emir presented the Argentina icon before he lifted the World Cup trophy
Geostrategy
Seven Iraqi police killed in suspected IS attack: police sources
Kirkuk, Iraq-- At least seven members of Iraq's federal police were killed Sunday during an attack near Kirkuk in the country's...
- In Baghdad, an official from the Ministry of Interior confirmed the attack, saying seven police, including one officer, were killed.
- No group immediately claimed responsibility for the attack
Economy
Fuel crisis cripples life in Syria as authorities ramp up prices
Damascus, Syria-- Syrian student Ziad al-Ezz can no longer get to university as severe fuel shortages cripple the capital Damascus, pushing...
- Authorities have announced four fuel price hikes since the start of the year as well as rationing of petrol and fuel oil supplies
- According to the UN, ninety percent of the population now live below the poverty line and 12.4 million people are food insecure
Geostrategy
Tunisians stay away from election for new parliament
Tunis, Tunisia--Tunisians on Saturday overwhelmingly boycotted an election for a new parliament which will have virtually no authority following a...
- Opposition groups boycotted the election, saying it was part of a "coup" against the only democracy to have emerged from the 2011 uprisings across the region
- Inflation is around 10 percent, and frequent shortages of milk, sugar and petrol are fuelling a growing wave of emigration
Geostrategy
Iran boasts enriched uranium capacity hits record highs
On the eve of UN nuclear monitors visit to the country, Iran disclosed that its uranium enrichment capacity has increased...
- IAEA said that a technical team will visit Iran on Sunday to try to resolve a deadlock over the detection of traces of radioactive material at sites not declared
- Under the 2015 deal, Iran agreed to restrict its enrichment of uranium to just under four percen
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
Economy
Company News
Latest News
Bahrain and UK discuss boosting trade, investment ties
London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between...
Geostrategy
Al Hilal ranks among world’s 50 wealthiest clubs
European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
Business
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Business
GCC chief stresses need for combating corruption to fuel economic growth
Muscat, Oman-- Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudawi, has underscored the importance of cooperation in...
- Albudawi spoke on corruption at the 9th meeting of the Ministerial Committee concerned with combating corruption in the GCC countries
- He said fighting corruption has globally gained importance in recent years, in light of the growing negative impact of corruption on economies
Business
EITC Q3 profit soars 57.7%
Its revenues grew 3.7% to US$896 million in the quarter.
- The company posted a 57.7% jump in net profit to $137.23m, its highest quarterly level over the last three years
- The company has been pushing further the deployment of 5G network which reached 98.5% coverage
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer