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
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
Economy
Economy
Large scale job losses if US defaults, warns government
President Joe Biden's administration again warned of "catastrophic" consequences for the US economy including huge job losses if the country...
- The nonpartisan Congressional Budget Office forecast that the country could default on its debts by June 15 if lawmakers fail to agree on a deal.
- Biden has stated he wants a "clean" hike of the debt ceiling, but Republicans are insisting any extension of the country's borrowing authority.
Business
Will sponsor Emirates Labor Market Award, Â says Abu Dhabi Chamber
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced its sponsorship of the Emirates Labor...
- The award aims to recognize the efforts of leading private sector entities and outstanding individuals and highlight successful practices in the labor market.
- The Chamber plays a leading role in supporting national projects and supports increasing the labor market's productivity, efficiency and competitiveness.
Economy
Dubai top Greenfield FDI destination for second time in a row
The emirate achieved an 89.5 percent year-on-year growth in 2022 and Foreign Direct Investment capital inflows of $12.79 billion. The...
- These exceptional achievements support the strategic vision outlined by the Dubai Economic Agenda D33, Sheikh Hamdan said.
- Dubai ranked first globally in attracting greenfield FDI projects in 2021, up from the third spot in 2020. It had attracted 418 freenfield FDI projects.
Business
India Jewelry Exposition Center launches in Dubai
DUBAI, UAE - The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX)...
- India Jewelry Exposition Center will provide a platform for the country's MSMEs to showcase their products to the Middle East market.
- The move is a reflection of the Middle East's importance to India's gem and jewelry sector which accounts for 30 percent of its exports.
Economy
WEF meet to shed light on global economic transformation
Geneva, Switzerland - The 14th World Economic Forum (WEF) Annual Meeting of the New Champions is scheduled to take place...
- The meeting will tackle key issues concerning global companies and create and strengthen partnerships focusing on generating a positive impact.
- More than 1,500 leaders from business, government, and other global firms, along with innovators and academics, are expected to participate.
Geostrategy
Syria extends humanitarian aid access via two border crossings: UN
Following international pressure, Damascus agreed to let the UN use the Bab al-Salama and Al-Rai crossings, operated by Turkish-backed rebels,...
- Syrians affected by the February 6 earthquake that killed more than 55,000 people in Syria and Turkey have been relying on two border crossings for vital humanitarian deliveries
- The United Nations estimated earlier this week that Syria needs almost $15 billion to recover from the quake, and it put the total cost of damage and losses at almost $9 billion
Economy
Qatar Chamber chairman calls for ‘unified’ Gulf policy on purchase of food, medicine
Muscat, Oman--Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al-Thani has called for a unified policy for purchase of food...
- The chairman was speaking at a meeting between GCC ministers of commerce and heads of unions and chambers of commerce and industry in Muscat
- He said the region has been coping with a number of challenges posed by the Covid-19 pandemic and the ongoing war between Russia and Ukraine
Business
IsDB signs financing agreements worth US$5.4bn with 24 member countries
Jeddah, Saudi Arabia--The Islamic Development Bank (IsDB) Group has signed 77 financing agreements worth $5.4 billion with 24 member countries...
- The 77 agreements look to develop projects in sectors such as health, agriculture, food security, transport, energy, education, and humanitarian relief
- President of the IsDB Group said the discussion with the member states covered a range of development issues and the future of the IsDB Group
Business
Iran’s trade with six Arab countries climbs up to US$35bn in 2022-2023
Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to...
- Iran traded 58.25 million tons of goods worth $35.11 billion with Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia during the fiscal 2022-2023
- The Islamic Republic's top business partner among the Arab countries was the UAE, trading 24.35 million tons of goods worth $24.16 billion
Business
EU’s imports in high-tech products worth $524bn in 2022
BRUSSELS, BELGIUM - The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22...
- In 2022, over half of the EU’s high-tech imports from non-EU countries came from China (US$199 billion) and the United States (US$99 billion).
- The most significant category of high-tech products imported from non-EU countries was electronics-telecommunications (US$219 billion).
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
Company News
Latest News
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...
Business
WEF24: Tech investment drives China’s growth
China's GDP is expected to grow 5 percent this year as the country has significantly recovered from COVID-19, Xiaoyan Zhang...
Interview
Climate change parches Morocco breadbasket amid policy pitfalls
Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but...
Business
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Economy
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...
- Qatar-Turkey JETCO aims to enhance private sector cooperation and advance intra-regional trade.
- Successful Qatar-Turkey Business Forum highlights partnership opportunities, says Qatar Chamber chief.
Economy
SMEs in UAE confront expense management challenges
Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points...
- Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points out.
- Empowering employees through corporate cards fosters a culture of responsibility and accountability, facilitating seamless reimbursement processes, the report adds.
Business
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...
- This event aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region.
- The event will spotlight the myriad of investment, commercial and industrial opportunities available in Jordan and Iraq.