EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...Business
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Business Economy Geostrategy Global
China sees steady foreign trade growth in first 10 months
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively
China's trade with countries and regions participating in the Belt and Road Initiative posted robust year-on-year growth
Microsoft co-founder’s art to fetch US$1bn at auction
Expected to fetch more than $1 billion at the two-day sale in New York, late Microsoft co-founder Paul Allen's art...The collection is also unique for its value: several masterpieces are estimated to fetch more than $100 million
Allen left Microsoft in 1983, due to health problems and a deteriorating relationship with Gates, who remained in charge of the company until 2000
EU warns of retaliation against US electric car subsidies
Paris, France - The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies...EU is upset about Washington's "Inflation Reduction Act", which includes vast spending on green energy initiatives.
If US doesn't take into account the views of EU, the bloc could "go to the WTO" and make its arguments against it.
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...The minister attributed the decline to falling oil prices and its impact on production and transport costs.
He said that the fall in the prices of food is also due to measures taken by the government.
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...The loan-to-deposit ratio dropped below 80 percent for the first time in seven quarters in August.
A drop in LDR means increased level of liquidity, which in turn indicates that banks are more capable of dealing with unforeseen events like loan losses.
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...The dollar was down against key rivals ahead of this week's US midterm elections.
Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
2 Emirates NBD India branches
The branches cater to northern, southern areas.In 2017, the bank inaugurated its first full-fledged branch in India’s commercial centre, Mumbai.
The bank’s 60-second zero-fee digital funds transfer service to India, DirectRemit, has facilitated 2.5 million remittances to India.
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
