IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
The backbone of the digital economy is upskilling: Jayney Howson
AI won't replace jobs, but reskilling will unlock its true potential—lifelong learning is the key, Jayney Howson, SVP of Learning...
Economy
Science
Boosting investment in health systems is essential, says OECD
PARIS, FRANCE - Governments should urgently adapt their health systems to better respond to future shocks, given the huge impact...
- Major investment is needed in the health workforce, alongside increased spending on prevention and digital infrastructure, says OECD
- More workers in health and social care were associated with lower mortality rates.
Economy
Germany’s Scholz arrives in India to expand business ties
New Delhi, India--German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world's number four...
- Scholz would press for progress towards a trade deal between the European Union and India that has long been held up by disagreements on tariffs
- Scholz, 64, also said the Group of 20 should not ease up on pressuring Russia during India's current presidency and continue to send a "strong message"
Economy
Turkey starts rebuilding for the 1.5 million earthquake homeless
More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes.
- More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes
- Turkish President Tayyip Erdogan who is facing election within months has pledged to rebuild homes within a year
Economy
UAE vows to counter money laundering and financing of terrorism
Welcoming the FATF statement recognizing the progress made in the Gulf country, the UAE has reaffirmed its commitment to advancing...
- The UAE said it continues to implement an array of sophisticated and significant actions to combat financial crime and strengthen the effectiveness of the AML/CFT framework
- The country reaffirmed that it will continue working concertedly to bolster its position as one of the most trusted and resilient economies worldwide
Economy
Barakah’s Unit 3 enhances UAE’s bid to cut emissions
"We utilise all forms of clean energy to cut carbon emissions and mitigate the worst impacts of climate change. The...
- The start of commercial operations for Unit 3 of the Barakah Nuclear Energy Plant marks another accomplishment in generating abundant clean electricity to the national grid
- The plant will also prevent millions of tons of carbon emissions annually, said Mariam bint Mohammed Almheiri, the UAE’s Minister of Climate Change and Environment
Economy
History says Fed can’t tame inflation without recession: report
Citing historical "disinflation" cases dating back to 1950 in major economies, the report concluded that central banks "are likely to...
- The report came after fresh US pricing data suggested the Fed's aggressive moves thus far have been only partially successful
- The Booth analysis suggested a potentially rocky future for the US economy, which has thus far shown resilience despite aggressive Fed actions to counter inflation
YEARBOOK 2023
GCC businesses plan expansion through new clients
Companies will emphasize less on diversification and disruptive offerings this year, predict chief executive officers in the Gulf region.
- Companies will emphasize less on diversification and disruptive offerings this year, predict chief executive officers in the Gulf region.
- More than two-thirds of CEOs in the UAE expect a “stable” or “positive” global economic outlook for the next three to five years
Business
Dubai Chamber of Commerce organizes UAE Corporate Tax Workshop
DUBAI, UAE - Dubai Chamber of Commerce organized a Corporate Tax Workshop to help participants navigate the new regime, with...
- The workshop, attended by 152 participants, included an overview and key highlights of the new corporate tax law.
- Corporate tax is a significant step in the UAE’s drive to modernize its tax system and accelerate economic diversification.
Geostrategy
Israeli government approves 2023-2024 budget
Israel's government approved the 2023-2024 budget against the backdrop of economic uncertainty linked to controversial judicial reforms advanced by the...
- Netanyahu's coalition government pushed on in parliament this week with its judicial reforms, which it says are designed to limit overreach.
- Parliament must still vote to adopt the fiscal measures.
Business
Expo Center Sharjah wraps up successful Paper One Show
SHARJAH, UAE - Expo Center Sharjah (ECS) wrapped up the eighth edition of Paper One Show on a high note....
- The exhibition managed to cement Sharjah's leading position as one of the key regional events specialized in the paper industry.
- There was an increase of 60 percent in the exhibition over the previous edition in the number of participating companies.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
Company News
Latest News
US pushes naval coalition as Yemen rebels vow to attack more ships
The United States pushed to build up a multinational naval task force to protect a key global shipping lane from...
Geostrategy
15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...
Geostrategy
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...
Economy
Most Read
Economy
MENA faces economic turbulence due to Gaza conflict
The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.
- The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.
- Egypt, Lebanon and Jordan remain the most affected countries as the conflict will potentially disrupt oil markets and economic growth, it adds.
Market Report
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
- Yemen's Iran-backed Houthi rebels said on Monday that they had attacked two "Israeli-linked" vessels in the Red Sea..
- Ships must travel through the Red Sea to use the Suez Canal, a key transit route for cargo and oil..
Economy
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
- The agreement was inked between the Saudi Authority for Industrial Cities and Technology Zones "MODON" and the South Korean GL Rapha Holding Company
- As part of the pact, an expanse of 51,000 square meters in Sudair City for Industry and Business is set to be allocated, involving an investment totaling $200 million