Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
Geostrategy
World Bank approves $1.1 bn in financing for Jordan
The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and...
Economy
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
Infographics
Qatar, UAE lead Gulf region in governance, growth
TRENDS tries to look at where Arab countries stand in terms of politics, governance and economies, in the latest the...
- TRENDS tries to look at where Arab countries stand in terms of politics, governance and economies, in the latest the Bertelsmann Stiftung’s Transformation Index
- In past 10 years, the quality of democracy has declined in nearly one in five democracies, including in regionally important and once-stable democracies, the index points out
Business
PwC, Microsoft expand partnership for digital transformation in Saudi Arabia
DUBAI, UAE - PwC Middle East and Microsoft have strengthened their global partnership at LEAP event in Riyadh, to support...
- The collaboration will focus on cloud transformation, business process automation and technology consulting.
- The partnership aims to strengthen businesses by providing access to cloud services that are scalable and secure.
Business
DIFC achieves high growth in 2022, driven by fintech, innovation
DUBAI, UAE - Dubai International Financial Center (DIFC) continued to grow at a record-breaking pace in 2022 with the number...
- New companies registered in DIFC in 2022 surpassed the annual milestone of 1,000 for the first time in the Center's history.
- In 2022, DIFC’s combined revenue exceeded US$272 million for the first time.
Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
Geostrategy
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New CEO appointed in SRC
Business
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...
Geostrategy
Russia won’t consider ratings while granting loans to countries
Previously, to be eligible for a loan from Moscow, a country could not be categorized in the sixth or lower...
Economy
Export Bahrain and HKTDC sign agreement to ramp up trade ties
Manama, Bahrain--Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties...
Business
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Economy
Qatar expects a decrease in inflation next year
Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...
- The Qatari finance minister said the high inflation in Qatar during 2023 was linked to high food prices, and it was a temporary phenomenon
- The minister said the total expenditure in the 2024 budget will be US$55.1 billion, a one percent compared to the current year's budget
Business
UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...
- Mauritius posted an 8.5 percent GDP growth in 2022 — the fastest in 35 years
- The deal is also expected to drive FDI into fintech, healthcare and tourism sectors
Economy
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
- The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
- The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity