G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
Geostrategy
UAE, Germany launch joint business council to strengthen economic ties
Berlin, Germany - Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy to the...
Economy
Economy
UAE-Turkey non-oil intra-trade crosses US$103 billion in last 10 years
Abu Dhabi, UAE-- The UAE and Turkey economic ties have witnessed a great leap in the last decade with non-oil...
- Raw gold topped the list of the five most key commodities imported by the UAE from Turkey in 2022, with a value of $4.35 billion
- The UAE and Turkey inked an agreement in March this year, which looks to scale up trade between the two countries to US$40 billion in five years
Geostrategy
UAE, Turkish presidents discuss bilateral, economic relations in Istanbul
ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived here on Saturday for a working visit and...
- The UAE and Turkish presidents discussed their shared interest in advancing sustainable economic growth and social development.
- Both the leaders applauded the recent progress witnessed in UAE- Turkey relations and discussed the benefits of CEPA.
Business
SPC Free Zone to provide licenses within 45 minutes
SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses...
- SPC Free Zone has also unveiled a limited-time package aimed at reducing business licensing and set-up costs.
- It empowers smaller businesses and aspiring entrepreneurs to establish or expand their operations in the emirate.
Geostrategy
45 governments endorse doubling energy efficiency by 2030
PARIS, FRANCE - Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of...
- The meeting stressed as to how energy efficiency can help accelerate clean energy transition toward reaching net zero emissions by 2050.
- The meeting underscored that effective policies must be fully leveraged to encourage behavior change among consumers and businesses.
Economy
Investment in solar to eclipse oil for the first time
"Almost all our indicators on climate are pointing in the wrong direction”, with emissions hitting record highs; finance commitments remaining...
- Almost all indicators on climate are pointing in the wrong direction with record-high emissions and unmet finance commitments, warns UN official
- Amina Mohammed also calls for an Acceleration Agenda, urging countries, especially the G20, to cooperate to speed up climate action
Economy
Qatar and Iran to boost cooperation in labor sector
Dubai, UAE-- Qatar and Iran intend to expand cooperation in the fields of labor, employment, and exchange of skill-training experiences....
- The two ministers met on the sidelines of the 111th session of the International Labour Conference in Geneva and discussed deepening ties
- Qatari minister while applauding Iran's role during the sanctions said Doha will never forget Tehran's support during the period of crisis
Economy
Türkiye’s first-ever female Central Bank Governor takes office
Ankara, Türkiye - Türkiye's newly appointed Central Bank Governor Hafize Gaye Erkan took office on Friday, becoming the first woman...
- Erkan, 41, holds a bachelor’s degree in industrial engineering from Istanbul's Bogazici and a doctorate in operations research and financial engineering at Princeton University
- Erkan also completed two training programmes on management sciences at Harvard Business School and leadership at Stanford University
Business
UAE and Cambodia to ramp up bilateral trade to US$1bn in five years
Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
- The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
- The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Economy
UAE national banks provide $99.9 bn credit to trade, industry in Q1 2023
Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...
- The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
- According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Geostrategy
UAE and Japan look to boost ‘strategic’ relations with focus on energy
Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
- The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
- The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
Geostrategy
Company News
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UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
Economy
Israel minister says Arab trade ties unfazed by Gaza war
In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while...
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
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Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
Business
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
- The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
- The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
Economy
‘Emphasis grows on market protection over free trade’
"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...
- Sweden remains committed to the rules-based international trade system amidst rising geopolitical tendencies.
- Swedish Minister Johan Forssell calls for enhancing competitiveness over subsidy reliance for economic development.