Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy --Â The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
Apple expects $900 million hit from tariff war
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting...
Economy
Business
Deutsche Bank shares tank
The shares fell on the lender's rising cost of default cover.
- The lender's shares tanked more than 14 percent on the Frankfurt Stock Exchange in early trade
- German Chancellor Olaf Scholz said the European banking system was "stable", with strict rules and regulations
Economy
E-invoicing: Saudi Arabia stipulates criteria for selecting establishments
Riyadh, Saudi Arabia - Saudi Zakat, Tax and Customs Authority (ZATCA) has identified the criteria for selecting the establishments targeted...
- The authority said it would inform the selected establishments six months before the enrollment date
- Implementation of the first phase of the e-invoicing system began on December 4, 2021
Economy
Qatar’s GTA extends deadline for filing of income tax returns
Doha, Qatar--Qatar's General Tax Authority (GTA) has extended the deadline for submitting the tax return for 2022 for all entities...
- The GTA however has excluded companies operating in petroleum operations and petrochemical industries, besides taxpayers who have accounting periods different from the tax year
- The authority maintained that it has always emphasized the principle of tax compliance, stressing the importance of the commitment of all firms to submitting tax returns on time
Economy
Greece, Italy to discuss rail ‘restart’ after tragedy: PM
Following last month's rail tragedy, Greece's prime minister said that he would discuss with Italy safety improvements on Geek trains...
- The prime minister said that his Italian counterpart Giorgia Meloni accepted an invitation to talks in Athens before the Greek general election in May
- Late last month, two trains collided head-on after running on the same track for several kilometers (miles), killing 57 people
Robust customer protection makes UAE market stable
"Despite the challenges faced by the global supply chains due to today’s political and economic developments, the Ministry made sure...
- The UAE's Ministry of Economy collaborates with government partners and stakeholders to develop consumer protection policies and ensure market stability, says an official
- The Ministry conducts inspections to monitor compliance with decisions issued regarding prices and quality products, and to prevent fraud and trademark infringements, he adds
Economy
Luxury, safety, modernity keep UAE hospitality ahead
The hospitality industry's future looks bright, with the GCC emerging as a major hub for both international and domestic travel,...
- The hospitality industry's future looks bright, with the GCC emerging as a major hub for both international and domestic travel, Naim Maadad of Gates Hospitality tells TRENDS
- Dubai's hospitality industry is bouncing back from the pandemic with both leisure and business trips on the rise, and the industry anticipating a prosperous year ahead, he adds
Economy
European economy reaches 10 month high after surge in March
BRUSSELS, BELGIUM - Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched...
- The S&P Global Flash Eurozone purchasing managers' index showed the indicator at 54.1, up from 52.0 in February
- Inflation remains much higher than policymakers' target but eurozone consumer prices have also fallen in recent months
Business
Abu Dhabi Securities Exchange appoints Emirates NBD Capital as custodian
ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital...
- Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority.
- The firm provides safe and secure solutions for investors to hold securities, such as stocks, bonds or other assets.
Business
South Korea plans to extradite crypto fugitive Do Kwon
Kwon, whose full name is Kwon Do-hyung, has been accused of fraud over his company's dramatic collapse last year, which wiped...
- US charged Do Kwon with eight counts, including securities fraud and wire fraud, which followed a lawsuit by the US Securities and Exchange Commission
- In South Korea, where Kwon is wanted for violations of the country's capital markets act, authorities confirmed Friday that they would seek his extradition
Business
Johnson & Johnson loses key tuberculosis drug patent in India
New Delhi, India--India's Patent Office rejected on Thursday US pharmaceutical giant Johnson and Johnson’s application to extend its patent on a...
- Rejecting Johnson & Johnson's application, Assistant Controller of Patents and Designs Latika Dawara said that it did not meet the requirements of India's Patent Act
- The decision is likely to enable Indian manufacturers to begin work on generic versions of the drug once the primary patent expires in July
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy --Â The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
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ADNOC Drilling, Alpha Dhabi set up JV
Geostrategy
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...
Economy
Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...
Business
Dubai aims to become global creative economy capital
"Dubai transcends economic statistics; it embodies a pursuit of the highest quality of life. Our aspiration is to achieve excellence,...
Economy
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Economy
Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...
- Amid an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to double metal prices.
- Gulf countries are positioned to become global recycling hubs, offering a solution to the impending crisis and aiding the transition to clean energy.
The UAE President swears in 3 new ministers
The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as...
- President Sheikh Mohamed extended his best wishes to the ministers for success in their new roles
- Sheikh Mohammed bin Rashid said that the UAE leadership places great importance on enriching the government's workforce
Economy
US consumer inflation jumps more than expected to 3.4 percent
Washington, US - Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the...
- The Department of Labor's consumer price index (CPI), a key measure of inflation, was up 3.4 percent from a year ago and higher than November's figure
- But underlying pressures still appear to be ebbing, as a "core" metric that strips out volatile food and energy prices cooled to 3.9 percent in the last month of 2023