US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...
Economy
Economy
Ukraine grain deal extended for two months: Erdogan
Erdogan made the announcement one day before it had been due to expire, scoring a diplomatic coup ahead of a...
- Erdogan said Russia had agreed not to block ships from leaving two Ukrainian harbours, expressing hope that the deal would be "beneficial for all the parties"
- NATO member Turkey has worked to maintain good ties between Russia and Ukraine, hosting two but unsuccessful rounds of peace talks between the warring sides
Economy
Money laundering and terrorism financing pose threat to world: UAE
The three-day conference in Abu Dhabi has brought together officials from around the world to discuss the menace of money...
- The official emphasized the importance of cooperation among nations to combat money launder and terrorism financing
- The UAE has set up specialist department and has signed a slew of agreements to coordinate with many countries to fight money laundering
Science
UAE sees 20 percent decrease in nitrogen oxide emissions: study
Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to...
- The findings of the study corresponds with the "National Air Quality Agenda 2031," introduced by the Ministry of Climate Change and Environment
- The UAE aims to lower pollution, improve air quality, foster a safe and healthy environment, and enhance the overall quality of life
Economy
UN wants $100 billion to boost digitalization in poor nations
"Tech is at the top of the global agenda, but the benefits of digital technology are still out of reach...
- Around 2.7 billion people around the world were offline in 2022, according to the International Telecommunications Union, the UN's telecoms agency.
- "The digital connectivity divide separating the least developed countries from the rest of the world is widening," the ITU said.
Economy
Europe, UK edge closer to signing deal on financial services
Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area...
- The European Commission, the EU's executive arm, on Wednesday took the first step by adopting a draft agreement.
- The EU said the agreement does not deal with the access of UK-based companies to the single market or vice versa.
Economy
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real...
- The economies of the Gulf Cooperation Council (GCC) are projected to grow by 2.5 percent in 2023 and 3.2 percent in 2024.
- A report released by the bank also said that the direct medical costs of seven major non-communicable diseases in GCC region was around $16.7 billion in 2019 alone.
Business
DEWA and Huawei to develop new technologies in electricity, water sectors
Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity...
- The collaboration between the two entities has resulted in progress in digital transformation, exchanging the best international solutions, experiences and practices
- Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted the progress of the joint projects between the two sides, including Moro’s green data centres
Business
Beyon announces ‘the biggest ever investment’ in digital infrastructure in Bahrain
Manama, Bahrain - Beyon has announced a major investment of more than $250 million in state-of-the-art digital infrastructure in Bahrain...
- Batelco, part of the Beyon group, has joined the Southeast Asia - Middle East - Western Europe consortium, which is building a 21,700 km-long undersea cable system
- The new subsea cable will create a layer of network diversity and resilience for the heavily used routes connecting the Middle East with Southeast Asia and Western Europe
Economy
Iran and Russia look to expand ties in the energy sector
Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop...
- Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
- Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation
Economy
Gross banks’ assets vault 2.2 percent to US$1trn in February: CBUAE
Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January...
- According to the central bank, gross credit shot up 1.2 percent from $510 billion at the end of January 2023 to $517 billion at the end of February 2023
- It further added that total bank deposits climbed 0.4 percent, from $608 billion at the end of January 2023 to $610.48 billion at the end of February 2023
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US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
Company News
Latest News
US lawmakers reject US$17.6 billion Israel aid bill
Republicans in the House of Representatives scheduled the vote after the Democratic-led Senate released a bipartisan bill Sunday pairing billions of dollars for...
Geostrategy
44% of workers’ core skills will be disrupted by 2027: WEF
The world of work is changing fast. By 2027, businesses predict that almost half (44%) of workers’ core skills will...
Economy
Tunisia parliament votes to let central bank finance budget
The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited...
Economy
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Business
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
- Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.
- While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.
Business
Sharjah Chamber posts growth in membership in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...
- The number of membership renewals in 2023 hit 55,087 across industrial, commercial and professional sectors.
- Free zone memberships stood at 1,795, while exports and re-exports were valued at approximately US$8.9 billion.
Economy
Saudi Arabia, Swiss Fund unveil billion-euro initiative for zero-emissions investments
Riyadh, Saudi Arabia - Saudi Arabia and Swiss Fund have decided to initiate financing initiatives in the debt market in...
- A substantial portion of this investment, approximately $1.8 trillion, is expected to be financed through bids aimed at attracting global investors from Switzerland and beyond
- Apart from investments in zero-emissions projects, the collaboration extends to the insurance industry, which is poised for significant growth in the coming years