IMF approves $5bn under flexible credit line for Morocco
Washington, USA - International Monetary Fund (IMF) approved SDR 3.7262 billion ($5 billion) on a two-year arrangement for Morocco under...
Economy
Tunisia pays $506m in foreign debt, as economy falters
The country has seen its economy contract by more than 8 percent last year, and its pile of debt has...
Iran’s new oil terminal to bypass Gulf chokepoint
Tehran inaugurated Thursday the terminal in Jask, on the Gulf of Oman, allowing tankers to avoid the Strait of Hormuz...
Three die, 1,521 test Covid positive in UAE
Despite being proactive on vaccination and testing, the UAE's death count from Covid-19-related complications go up to 1,913 and the...
Lebanon may not be able to handle next Covid-19 wave
A top hospital manager has said Lebanon’s medical facilities are unprepared for the next wave of Covid-19 cases
Oman eases Eid lockdown, some curbs to remain to halt Covid
The night-time closure of businesses and curbs on movement of people and vehicles will remain in place
Emirates launches new passenger service to Miami
Emirates flight EK213 was welcomed by Miami International Airport with a water cannon salute, and drew in an audience of...
Saudi officials seize a big load of drugs at border with Jordan
A consignment of two million illegal pills was seized by the Saudi authorities along the kingdom’s border with Jordan. The...
Biden, Kadhemi meeting to focus on US troop withdrawal from Iraq
The White House talks between the two allies come just a week after a deadly attack claimed by the Islamic...
Turkey rejects UN Security Council criticism over Cyprus
Western powers including the United States and France expressed outrage and the UN Security Council issued a condemnation that Ankara...
140 Palestinians injured in clashes at flashpoint West Bank village
Hundreds of Palestinians gathered in Beita, located in the north of the Israeli-occupied West Bank, to protest against the nearby...
Most Read
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
Company News
Tecom lists 12.5% shares on DFM
Business
Latest News
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...
Business
71 varieties displayed during Onaizah International Dates Season
More than 71 varieties of dates were on display in the auction arena of the Food City during the Onaizah...
Business
Most Read
Business
G42 launches $10bn technology growth fund
The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and...
- The fund will invest in late-stage growth companies with disruptive technologies and strong business fundamentals
- It will operate as a private equity investor, with a significant share of investment earmarked for high growth regions
Economy
OPEC not responsible for soaring inflation: Secretary-General
“OPEC is not behind this price increase,” said the secretary-general of the the influential group of producers Haitham Al-Ghais. “There...
- Al-Ghais’ comments follow the OPEC’s decision to add only 100,000 barrels per day from next month
- He said the factors behind the spike in gas and oil prices are beyond OPEC and identified underinvestment as the main problem
Business
Saudi jewelry sector records 36 percent sales jump in Q2
The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows...
- The kingdom has also seen an upsurge in consumer spending in the second quarter exceeding $33 billion with an annual growth rate of 7 percent
- Referring to data issued by the Jazan Chamber of Commerce, the report said the gold and jewelry sector was followed by clothing and footwear, which grew by 24 percent