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
Economy
Morocco lose game but win hearts all over world
Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic...
- All over Morocco, shops have been selling team jerseys and flags.
- The news agency said the king also conveyed a congratulatory message to French President Emmanuel Macron by telephone post-match
Business
UAE Jiu-Jitsu Federation to promote martial art in China
Abu Dhabi, UAE--The UAE Jiu-Jitsu Federation and China’s Generations Fund have signed an agreement to promote the culture of Jiu-Jitsu...
- The agreement allows both parties to utilize Jiu-Jitsu in accelerating sporting cooperation between the UAE and China
- It will also contribute to expanding Jiu-Jitsu fan base in the People's Republic of China, specially among young people
Economy
IMF says more financing needed for climate change fund
IMF chief Kristalina Georgieva has regretted the shortage of funds needed to help low-income countries tackle the impacts of climate...
- She said that the IMF expects more members to commit resources "so we don't end up having to ration support for countries"
- WTO Director-General Ngozi Okonjo-Iweala stressed the importance of supply chains when it comes to building resilience in developing countries
Business
Inflation shoots up in Jordan to 4.22% in November
Amman, Jordan-- Jordan's inflation shot up 4.22%, reaching to 106.68 points during the period from January to the end of...
- The Department of Statistics noted that the overall consumer price index for November this year rose by 4.99%, reaching 108.19 points
- The American credit ratings giant Fitch Solutions said in May that it predicts inflation to rise to 3.6% this year
Business
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.
- The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
- Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
Economy
Saudi GDP surges 12.2% in Q2, surpassing estimate
The real gross domestic product (GDP) of Saudi Arabia has jumped 12.2 percent in the second quarter of 2022, exceeding...
- The oil economy grew 4.4 percent in the second quarter from the first quarter
- Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter
Geostrategy
Qatar to chair annual conference of AASGP in Cairo
Qatar will chair the 9th Annual Conference of the Arab Association of Secretaries General of Parliaments (AASGP), to be held...
- The conference will discuss several topics related to the role of the General Secretariat in supporting the legislative process, and ways to develop its work mechanisms
- It is scheduled to feature the 40th General Assembly meeting, and a workshop on the functions of the Secretary-General in the Arab countries
Business
KSA and Egypt champions to inaugurate Qatar’s World Cup final stadium
Qatar announced Monday that the club champions of Saudi Arabia and Egypt will inaugurate the Lusail stadium to be used...
- The 80,000 capacity gold coloured venue, in the Lusail new city just north of Doha, was the last of the eight World Cup stadiums to be completed
- A test event is to be staged there on August 11 when a Qatar championship match between Al-Arabi SC and Al-Rayyan is held
Business
Jarir reports drop in H1 profit
The profit declined to $114m with its stock sliding too.
- Consequently, its shares fell 2.78 percent to $39 on Sunday
- This decline was caused by a 5.5 percent drop in sales compared to the same period last year along with higher marketing and sales expenses
Business
UAE looks to boost economic partnership with Egypt, Jordan
The UAE wants to boost cooperation with Egypt and Jordan in the financial sector in order to achieve sustainable growth...
- The governors noted that their industrial partnership reflects a new phase of enhancing financial relations and contributes to achieving sustainable economic growth
- At the end of the meeting, Balama and Dr. Al Sharkas signed a Memorandum of Understanding (MoU) to enhance financial and banking co-operation
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
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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...
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...
Business
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Economy
Bahrain’s SCE signs agreement with Foulath Holding Company
Manama, Bahrain--The Supreme Council for the Environment (SCE) signed a cooperation agreement with Foulath Holding Company to boost sustainable development...
- The signing of the agreement would pave way for planting and preserving mangrove trees in line with the sustainable development goals (SDGs)
- The SCE said the agreement falls within the framework of protecting the environment, and preserving and developing its living resources
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Geostrategy
NY Times probe casts doubt on Israel’s account of Gaza hospital blast
Dubai, UAE--The New York Times's Gaza hospital blast investigation does not conclude in any way who is responsible for the...
- The New York Times asserts that the projectile seen in the Al Jazeera live footage, cited by many as central to the investigation, came from Israel
- The American newspaper's finding does not answer what caused the Al-Ahli Arab Hospital blast in the Gaza Strip, or who is responsible