Trump admits trade war ‘cost’ as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...
Economy
China vows ‘fight to the end’ as Trump warns 50% more tariffs
China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald...
Economy
Business
DEWA CEO discusses bilateral cooperation with Emerson
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level...
- DEWA, Emerson discussed advancing sustainability and consolidating foundations for environmental, social, and corporate governance.
- Clean energy makes about 14 percent of the total energy production capacity in Dubai.
Geostrategy
Tunisia’s Saied kicks out Europe’s trade unionist for ‘interference’
Earlier in Saturday, Esther Lynch, Europe's top trade union official took part in a demonstration organized by the UGTT trade...
- The Saturday's protest were partly organized to demand the release of senior UGTT official Anis Kaabi, who was arrested on January 31 following a strike by toll booth staff
- Esther Lynch, Europe's top trade union official had given a speech to thousands of people at a demonstration organized by the UGTT in Tunisia
Geostrategy
Israel slams ejection of envoy from African Union summit
Israel condemned the "severe" expulsion of a senior diplomat from the African Union summit, accusing Iran of orchestrating the move...
- A spokesman for the Israeli foreign ministry described the incident as "severe," noting Bar-li was "an accredited observer with an entry tag".
- African states should "oppose these actions, which harm the African Union movement and the entire continent," the spokesman added.
Economy
Tunisian trade union protest against plunging economy
SFAX, TUNISIA - Thousands of Tunisian trade unionists held protests across the country on Saturday over worsening economic woes and the...
- The North African country is in drawn-out talks with the International Monetary Fund for a bailout loan
- Demonstrators in Sfax, where the largest protest took place on Saturday, chanted "Tunisia is not for sale!"
Geostrategy
UAE, India mark first anniversary of signing CEPA with series of events
DUBAI, UAE - Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has marked the first anniversary...
- The Federation of Indian Chambers of Commerce and Industry is on a four-day visit to the UAE to mark the signing of CEPA.
- The FICCI delegation comprises over 100 exporters, start-ups and business owners.
Economy
Ukraine and IMF reach deal paving way for ‘full-fledged’ loan
Washington, United States--The IMF said Friday it has reached a staff-level agreement with Ukrainian authorities that opens doors to a full-fledged...
- The government submitted a package of draft tax laws to Parliament aimed at lifting revenues, and is taking steps to address arrears, among other efforts
- Apart from the IMF's work with Ukraine, the World Bank has also mobilized over $18 billion in emergency financing for the country
Economy
UAE trade minister meets US Jewish delegation to discuss relations
Al Zeyoudi highlighted the long-standing strategic relations between the UAE and the US, noting that their economic and trade exchanges...
- Al Zeyoudi highlighted the long-standing strategic relations between the UAE and the US, noting that their economic and trade exchanges are witnessing significant growth
- The two sides also discussed the prospects of boosting their partnership and exchanging expertise, and ways of maintaining peace and promoting the values of social tolerance
Geostrategy
Tunisian footballer reaches Italy on migrant boat, says club
TUNIS, TUNISIA - A goalkeeper at a top-flight Tunisian football club has reached Italy as a clandestine migrant, his club said...
- Tunisia is struggling with a grinding economic crisis that has seen a growing wave of clandestine migration attempts in recent months.
- Rome says over 32,000 migrants, including 18,000 Tunisians, reached Italy from Tunisia last year.
Business
UAB 2022 net profit at US$42m
Total operating income rose 11% in 2022 compared to 2021.
- UAB is focused on positioning itself as the partner of choice among major corporate clientele segments.
- The bank's CEO said that their focus will remain on the delivery of an enhanced customer experience.
Business
Hermes 2022 net profit $3.6bn
Fashion house posted huge earnings despite inflation.
- Sales rose 29 percent to US$12.3 billion at current exchange rates.
- Hermes said its sales rose by 30.7 percent in the Asia-Pacific region, excluding Japan, in the last three months of 2022.
Trump admits trade war ‘cost’ as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...
Economy
Company News
Mawani, SGP ink US$266m pact
Business
Latest News
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...
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...
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...
Economy
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Economy
‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...
- The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic map.
- This potential is attributed to its natural resources, distinctive geographical location, and robust global alliances with nations.
Economy
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
- The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
- Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
Economy
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
- The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
- A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.