Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
Business
Trump’s new tariffs take effect, with 104% on Chinese goods
US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies...
Economy
Economy
Lebanon’s central bank chief not to renew his term
Riad Salameh, who became the head of the central bank in 1993, has come under increased scrutiny both at home...
- Salameh, who became the head of the central bank in 1993, has come under increased scrutiny both at home and abroad
- The collapse has locked most savers out of their bank accounts and pushed more than 80 percent of Lebanon's population below the poverty line
Economy
Algeria allocates $1 billion for development projects in Africa
The decision of the Algerian President was announced in a speech read by Prime Minister Aimene Benabderrahmane at the annual...
- Tebboune said the agency's approach was based on Algeria's conviction that "security and stability in Africa are linked to development
- Algerian Agency of International Cooperation for Solidarity and Development would coordinate with African nations seeking to benefit from the initiative
Economy
Oil prices little changed in early Asian trade
The benchmarks closed lower by about 4 percent last week after the United States reported higher crude and gasoline inventories.
- The benchmarks closed lower by about 4 percent last week after the United States reported higher crude and gasoline inventories
- US also announced plans to release 26 million barrels of crude from the Strategic Petroleum Reserve which could lead to higher stockpiles at Cushing, Oklahoma
Economy
Sharjah Electricity, Water and Gas Authority installs 23,000 smart meters
Sharjah, UAE--Sharjah Electricity, Water and Gas Authority (SEWA) has completed the installation of 23,000 new smart meters in 2022 and...
- The new smart meters apart from being accurate give accurate readings free from errors, as well as rationalising energy consumption
- Dr. Hassan Al Zarouni, Director of the Electricity Distribution Department, said the installation of smart meters is part of the strategy towards digital transformation
Dubai Can initiative cuts single-use plastic bottle usage by over 7mn
The success of the initiative is reflected in the fact that Dubai Can has been widely adopted in the city.
- The success of the initiative is reflected in the fact that Dubai Can has been widely adopted in the city
- Dubai Can has placed water fountains in strategic places across the city, including public parks, beaches, and popular tourist destinations
Economy
Moroccans take to the streets to protest high cost of living
Defying a government ban against marches, scores of Moroccan trade union activists protested on Sunday in the capital Rabat and...
- The authorities have banned marches due to a "health state of emergency" put in place during the Covid-19 pandemic and still in force
- Prime Minister Aziz Akhannouch has promised to "strengthen market control" and lower prices in the coming days
Interview
Middle East faces a few hurdles in ESG investments
Creating a coherent ESG policy is perhaps one of the biggest challenges for the region, which is heavily reliant on...
- Creating a coherent ESG policy is perhaps one of the biggest challenges for the region, which is heavily reliant on hydrocarbons, says an expert
- Efforts should also be made to make decisionmakers understand the financial aspects of ESG on businesseses, adds Sunil Rana, Founder and CEO of Vyzrd
Business
Dubai Chamber of Digital Economy hosts industry workshop
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has hosted the...
- The workshop saw discussions on topics surrounding regulations, funding, talent, and infrastructure.
- The dialogue sought to provide clarity and a better understanding of the opportunities and challenges faced by e-commerce companies.
Geostrategy
Saudi meet stresses carbon capture vital for net-zero goals
Riyadh, Saudi Arabia – Net-zero goal cannot be achieved without carbon capture and there is a need to scale up...
- The King Abdullah Petroleum Studies and Research Center held a high-level roundtable on Carbon Management Technologies.
- In 2022, investment in the carbon capture utilization and storage hit $6.4 billion.
Business
Abu Dhabi delegation in Israel explores business opportunities
ABU DHABI, UAE - A delegation of 10 Abu Dhabi entities visited Israel from February 12-16 to discuss business cooperation...
- The Abu Dhabi delegation participated in the 2023 OurCrowd Global Investor Summit in Israel.
- The delegation hosted the Abu Dhabi Pavilion showcasing business and investment opportunities in the emirate.
Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
Business
Company News
New CEO appointed in SRC
Business
Latest News
Mawani, SGP ink US$266m pact
Business
Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...
Business
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...
Economy
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...
Business
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Economy
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
- CBUAE stated that by the end of Q3 2023, the number of licensed insurance companies in the UAE remained at 60
- The sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies
Economy
Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...
- The decision leaves the overnight deposit rate at 19.25 percent and the overnight lending rate at 20.25 percent
- The MPC noted a decline in key international commodity prices, especially energy, which has eased global inflation pressures
Economy
Saudi EXIM Bank, DBK sign MoU
It will boost the trade between Saudi Arabia and Kazakhstan.
- Under the MoU, both banks have also agreed to exchange information, experiences, and best practices to enhance the development of services and products
- It will also facilitate collaborative research efforts and knowledge sharing to design export credit policies and practices and provide workforce training opportunities