US Fed keeps interest rates unchanged in face of Trump criticism
Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
Economy
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
Business
Geostrategy
Conflict zones in Middle East are not getting climate funds, say aid groups
DUBAI, UAE - Conflict-plagued countries in the Middle East are among the most vulnerable to climate change but are almost entirely...
- The UN ranks Iraq, recovering from decades of conflict, as one of five countries most impacted by effects of climate change including drought.
- Syria and Yemen are also at heightened risk following years of war that has battered both the country's infrastructure.
Economy
UAE to showcase business opportunities at ‘Make it in the Emirates Forum’
Abu Dhabi, UAE -- The UAE has said that the second Make it in the Emirates Forum is an open...
- The second Make it in the Emirates Forum will showcase unique opportunities for entrepreneurship
- The forum will also present financing solutions designed to attract more industrial investments
Business
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.
- The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
- The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Economy
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...
- The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
- The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
Economy
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...
- The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
- It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
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.
US Fed keeps interest rates unchanged in face of Trump criticism
Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
Economy
Company News
Latest News
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
Economy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
Economy
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Economy
Saudi Arabia extends online services to help foreign firms set up regional hqrs in kingdom
Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking...
- These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers
- The electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa
Economy
Saudi Arabia enacts law to safeguard whistle-blowers and witnesses
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts,...
- The milestone law, previously greenlit by the Shoura Council, is designed to safeguard individuals who may face threats for providing information on crimes
- The law empowers judicial authorities to shield them from potential threats, assaults, revenge, intimidation, and other risks
Economy
UAE is an exceptional economic leader in Middle East
"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative...
- UAE hailed as a pivotal economic and innovation hub in the Middle East by OECD Secretary-General Mathias Cormann.
- Global economy's resilience amid COVID-19 highlighted, with growth projections of 2.9% and 3% for the upcoming years.