Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
Economy
Geostrategy
FNC Speaker, Canadian Senate Speaker discuss strengthening parliamentary ties
ABU DHABI, UAE - Speaker of the UAE Federal National Council Saqr Ghobash received the visiting Speaker of the Senate...
- UAE and Canada discussed the development and activation of parliamentary diplomacy between the two countries.
- The meeting touched on the latest developments in the region and efforts aimed at confronting terrorism and extremism.
How does aid get into rebel-held northwest Syria?
More than four million people live in areas outside government control in Syria's north and northwest, 90 per cent of...
- The UN largely delivers relief to Syria's northwest via neighbouring Turkey through the Bab al-Hawa crossing
- On February 13, the United Nations said Damascus had allowed it to use Bab al-Salama and Al-Rai crossings for three months
Economy
Asian markets mixed, with rates set to go higher
With Wall Street closed Monday for Presidents' Day there were few catalysts for regional investors, with focus on the release...
- Some Fed officials have even suggested they were open to lifting rates by 50 basis points next month, twice as much as expected by markets
- That has dealt a blow to hopes the central bank would stop hiking soon and even begin cutting rates before the end of the year
Economy
Israel Finance Minister Smotrich vows central bank independence
Israel's inflation rate hit a 14-year high of 5.4 percent in January, prompting the central bank to raise interest rates...
- Israel's inflation rate hit a 14-year high of 5.4 percent in January, prompting the central bank to raise interest rates by half a percentage point
- On Monday, foreign minister Cohen slammed the central bank for raising its benchmark interest rate again at a time when inflation was moderating
Geostrategy
Jordan, Algeria discuss closer economic cooperation
AMMAN, JORDAN - A Jordanian ministerial delegation met with a number of Algerian ministers in the North African country on...
- Jordan and Algeria reached an agreement on a roadmap to advance economic, trade, and investment cooperation for the years 2023–2025.
- The road map highlights key cooperation projects with the objective of expanding trade exchanges, inter-investment volume.
Economy
UK finances post stronger surplus before key budget
London, United Kingdom--UK government finances recorded a stronger surplus than expected last month, official data showed Tuesday, news that analysts said...
- UK borrowing soared over the year on support schemes to help the country cope with rocketing energy bills
- The country is facing the biggest industrial action by public and private sector staff in more than a decade as they seek pay rises in line with sky-high inflation
Israel parliament gives initial approval to judicial reform bill
Lawmakers voted by 63 to 47 to give more weight to the government in the committee that selects judges, and...
- Lawmakers voted by 63 to 47 to give more weight to the government in the committee that selects judges, and to deny courts the right to rule on legislation
- Opposition leader Yair Lapid accused the coalition of pushing Israel towards civil war, saying if "you care about Israel and its people" then "you'll halt legislation today"
Economy
AGFUND to support UNICEF’s drive to contain spread of cholera in Lebanon
Riyadh, Saudi Arabia--The Arab Gulf Program for Development (AGFUND) will support UNICEF with funding in order to contain the spread...
- An agreement was signed in Riyadh by Prince Abdulaziz bin Talal bin Abdulaziz, Chairman of the Board of Directors of AGFUND, and UNICEF Regional Director Adele Khodr
- The new cooperation includes the establishment of the Center of Excellence for Early Childhood Development, based in Riyadh
Economy
Dubai Government repays $1.08bn worth of Sukuk
The Government also prepaid an additional US$300 million of Sukuk through an early redemption, almost four years ahead of its...
- The Government also prepaid an additional US$300 million of Sukuk through an early redemption, almost four years ahead of its maturity in November 2026
- The Public Debt Management Office said that the Government has fully redeemed the Sukuk through the settlement of payable amounts, including accrued profits, to the investors
Economy
Saudi Arabia, Costa Rica to expand trade and investment ties
Riyadh, Saudi Arabia-- Saudi Arabia and Costa Rica have signed agreements to increase the volume of trade and investment between...
- Saudi Chambers and the Costa Rican Export Authority signed two agreements in the field of economic cooperation and the establishment of a joint business council
- Saudi Chambers Vice President Badr bin Suleiman Al-Ruzaiza said there has been a steep growth of 59% in the volume of trade exchange between the two countries
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Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
Company News
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UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
Qatar expects 11.4% revenue dip in 2024 budget on lower oil prices
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...
Economy
Waning influence of OPEC+ in spotlight as prices flag
Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain...
Business
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Geostrategy
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...
- US Defense Secretary Lloyd Austin condemned the "unprecedented" spate of attacks in waters leading to the Suez Canal.
- The Canal is a chokepoint for about 10 percent of global trade, that have forced many shipping companies to divert their vessels.
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...
- The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
- The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.
Economy
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...
- In 2022, Saudi Arabia's media sector surged to SAR 17.4 billion ($4.6 billion), commanding 30% of the market share in the MENA region.
- The growth trajectory has been primarily propelled by a a tech-savvy consumer base, marked by a surge in demand for local content