UAE and Russia look to deepen parliamentary cooperation
Abu Dhabi, UAE-- The UAE and Russia have held talks to enhance the parliamentary cooperation between the two countries. In...
Geostrategy
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
Business
ADB partners committed US$11.4bn to cofinance Asia-Pacific projects in 2022
MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience...
- The report reveals that ADB and its partners enabled the countries to face current and emerging shocks.
- ABD and its partners financed projects that helped developing members strengthen trade and small businesses.
Economy
Price monetary policy tools strong in managing public funds: Iraq official
Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public...
- The advisor to the Iraqi PM said that the budget's financing methods primarily involve Iraqi dinars in exchange for foreign currency
- He further noted that the strength of monetary policy and foreign reserves stand at their highest level in the country's financial history
Economy
Qatar to ramp up investment and economic cooperation with Iran
Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen...
- The resolve to boost ties was expressed in a phone call between the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and the Iranian President Ebrahim Raisi
- The Iranian president on his part said the Islamic Republic has always emphasized the promotion of relations and expansion of ties between the two countries
Muslims mark Eid al-Adha with prayers, festivities
Hundreds of millions of Muslims in their best dresses packed mosques in the Middle East, Asia, Europe, Africa, and the...
- Tens of thousands of worshipers in white robes gathered at the Grand Mosque in Makkah and the Prophet's Mosque in Medina to mark the sacred event
- Exhorting Muslims to fear God, the imam of the Grand Mosque Sheikh Yasser bin Rashid Al-Dosari said it is the "strongest, most important, and "fairest form of righteousness"
Arts & Culture
UNESCO-Sharjah Prize for Arab Culture honors winners in Paris
Paris, France-- The19th UNESCO-Sharjah Prize for Arab Culture was awarded to Kassem Istanbouli, Lebanese actor-director, and Hajer Ben Boubaker, French...
- Organized by the Sharjah Department of Culture in collaboration with UNESCO, the event celebrated the achievements of Kassem Istanbouli and Hajer Ben Boubaker
- The award recognized contributions of both recipients for promoting the arts and Arab culture and supporting their local communities
Economy
Sharjah Football Company signs Tunisian star Mohamed Firas Belarbi
Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed...
- Belarbi considered to be one of the most effective attacking midfielders in the UAE championships over the past two years took part in all 26 league matches, scoring 12 goals
- Sharjah Football Company, founded in 2007, is a joint venture between Sharjah Sports Club and the Sharjah Investment and Development Authority
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
- The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
- Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools
Geostrategy
International Security Alliance seizes drugs worth US$750mn in global operation
Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
- Led by the ISA and Ameripol, the operation saw the participation of 22 countries across the Middle East, Africa, Asia, Europe and Latin America
- Founded in 2017 by the UAE and France, the ISA coordinated the operation from its secretariat in the UAE with the aim of fighting organized crime
Economy
Qatar Chamber signs MoU with Argentina Chamber to boost economic ties
Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry...
- The agreement between the two will attempt to enhance and diversify trade exchanges and economic cooperation between the two countries
- Qatar Chamber also reviewed ties with Uganda Chamber of Commerce to design the path for increased coopeation between the two entities
Economy
Qatar and Iran agree to deepen ties in labor sector
Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities,...
- The two sides discussed bilateral cooperation in labor affairs, including the adoption of occupational standards and labor inspection in establishments
- Qatar, according to its labor minister, has emerged as a leader in labor market reforms after a series of legislative changes to the country's labor laws
UAE and Russia look to deepen parliamentary cooperation
Abu Dhabi, UAE-- The UAE and Russia have held talks to enhance the parliamentary cooperation between the two countries. In...
Geostrategy
Company News
Dubai Taxi IPO raises US$315m
Business
Latest News
Abu Dhabi’s non-oil economy expands 7.7 percent in Q3 2023
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the...
Economy
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...
Business
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Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
Business
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.
- The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
- The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements
Business
UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...
- ADX notched up $241.25 million in liquidity, as compared to the $31.31 million gained by the Dubai Financial Market (DFM), with $56.50
- The market capitalisation of listed stocks reached reached $980 billion on Monday, divided into $792 billion in ADX and AED 676.8 billion in the DFM.