Quiet and not-so-quiet luxury at Paris Fashion Week
PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...Business Economy
Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development.In this...Business Economy
France donates $5.5m to Jordan for a development project
The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5...The refugees will be provided training and financial services as per the agreement
Both parties on Saturday signed a grant agreement worth 5 million euros to launch the project
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025,...At its first Board meeting of 2022, the bank said it made AED1.91 billion contribution to the UAE’s GDP growth.
The bank launched a new Credit Guarantee platform, which was able to mobilize more than AED332 million of capital to SMEs.
Suez Canal posts 20% jump in revenue in Q1 of 2022
Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the...The Suez Canal Authority recorded $1.7 billion revenue in the first quarter up from $1.4 billion a year earlier
The number of ships transiting the canal from January to March this year increased by 15.8 percent, to reach 5,303 ships, up from 4,581 ships during the same period last year
Petra records highest number of visitors since Covid pandemic
The ancient city of Petra in Jordan has registered the highest number of visitors since the start of the coronavirus...The city's visitors in March were: 43,533 of foreign nationalities, 3,859 from Arab countries and 6,504 Jordanians.
Only 4,656 visitors of all nationalities, most of whom were Jordanians and Arabs, made it to Jordan's main tourism attraction during the month of March 2021.
Tadawul bars three firms from trading in shares
Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements...The exchange suspended Saudi Cable Co. shares from the main market
It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market
War casts its gloom on Swiss watch industry
Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss...Luxury watchmakers exhibiting at Watches and Wonders depends on their reserves, as the major supplier of diamonds, gold, and other precious metals Russia faces worldwide sanctions
Switzerland is the chief importer of Russian gold, ahead of precious metals such as platinum followed by diamonds
UAE, Israel cooperate to advance maritime transport sector
The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime
It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
People flee Lebanon to Iran in search of employment
Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar
The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty
Tesla delivered 1m EVs last year
That is 67 percent higher than deliveries in the year-ago period.The company delivered 1.06 million cars from April 2021 to March 2022
This included more than 310,000 cars in the first quarter of this year alone
