Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...
Economy
Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
Business
e& capital invests in Maxbyte
The funding aims to expedite growth by bolstering sales team.
- Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
- It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.
Economy
Kuwait looks to boost cooperation with WHO in ‘all health services’
Kuwait City, Kuwait-- Kuwait is looking to strengthen cooperation with the World Health Organization in all health services, according to...
- The minister pointed out to the WHO official how Kuwait addressed health challenges and implemented strategies to handle medical emergencies
- The WHO assistant director praised Kuwait's efforts toward saving lives during global crises, which align with the country’s commitment to the UN Charter
Business
Qatar partners with African Civil Aviation Commission to boost cooperation
Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field.This...
- Mohamed Faleh Al Hajri, in charge of Civil Aviation Authority, represented Qatar at the 8th Africa and Indian Ocean (AFI) Aviation Week, holding bilateral meetings
- He highlighted Qatar Airways' role in connecting Africa with the world, saying that the national carrier operates more than 185 flights per week, linking Africa with Qatar
Business
UAE stocks generate strong cash flows as IHC stands out
Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and...
- Hit by the low performance of the banking and financial service index, which fell 0.152%, Abu Dhabi's Index FADGI closed 0.248% down at 9,776.340 points
- Among the best performers were the Union Properties Company, closing 6.960% higher at AED0.415, followed by the Emirates Reem Investments, closing at AED4.280
Economy
CBUAE foreign assets inch up to US$161.22bn in June
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to...
- According to the apex bank, foreign securities were down to $45 billion from $46.56 billion at the end of June,, with other foreign assets up to $17.27 billion
- The monetary base, according to the CBUAE, grew by 0.1%, climbing from $169.20 billion at the end of May 2023 to $169.42 billion at the end of June 2023
Economy
Arab Parliament endorses call to support victims of terrorism
Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported...
- The parliament said the victims of terrorism in the Arab world must be supported with money to overcome their tragedies
- The parliament expressed solidarity to coincide with the International Day of Remembrance and Tribute to the Victims of Terrorism
Geostrategy
Jordan scuttles attempt to smuggle drugs from Syria
Amman, Jordan--Jordanian security forces have scuttled an attempt to smuggle narcotics from Syrian territories to Jordan.According to the Jordan News...
- The kingdom's border guards swooped down on the border to foil a concerted attempt to smuggle captagon pills and hashish into Jordan
- Confiscating the big haul of drugs, the kingdom said it would respond with full force to any threats to its borders, security and stability
Economy
UAE’s ERC unveils housing project for victims of February quake in Syria
Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria.The ERC...
- In April the ERC had announced its intention to build 1,000 prefabricated housing units in seven areas in the Latakia Governorate for the victims of earthquake
- The governor of Latakia, Amer Hilal, expressed his gratitdue to the UAE for implementing relief projects in Syria since the early days of the earthquake
Geostrategy
Iran-China bilateral relations moving forward in right direction: FM
Tehran, Iran--Iran-China bilateral relations and the 25-year strategic cooperation program between the two countries are moving forward in the right...
- The two foreign ministers discussed the latest developments in bilateral relations between the two countries in a telephone conversation
- The Iranian FM also gave his assessment on the comprehensive 25-year cooperation and how it was progressing in the right direction
Economy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
- Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
- Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership
Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...
Economy
Company News
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Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...
Business
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...
Economy
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World Economic Forum
World Economic Forum foresees ‘significant economic slowdown’
Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...
- The WEF report offers a re-evaluation of global economic growth, introducing a new framework that takes a holistic look at GDP
- The report adds that high income economies in 2023 saw average annual GDP per capita growth of 1.01% over the past five years
Business
Qatar Islamic Bank profit up
It posted a 7.5% jump in net profit to US$1.18bn last year.
- The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022
- Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share
Economy
CBUAE balance sheet touches US$182 billion in November 2023
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at...
- The UAE central bank's balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023
- According to the CBUAE, investments and deposits also played a huge role, totaling $56.63 billion and $26.53 billion respectively