Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
Business
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
Business
Economy
Lebanese banks start strike to press measures to tackle financial crisis
Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and...
- Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and Lebanese pounds
- The Lebanese liquidity crisis first imploded in August 2019, and was further aggravated by both the COVID-19 pandemic in Lebanon and the 2020 Beirut port explosion
Economy
UAE to send humanitarian aid worth US$13.6m to Syria
Hours after the earthquake killed at least 1,000 people and caused massive level of destruction in Syria, the UAE has...
- According to the official media, Emirati Prime Minister Sheikh Mohammed bin Rashid Al Maktoum "directed urgent humanitarian aid to those affected in Syria"
- The UAE said it was planning to establish a field hospital in Turkey and will also send search and rescue teams to Syria, along with urgent relief supplies and emergency aid
Economy
Israeli ‘reforms’ may hit economy, fear businesses
Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a...
- Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a bare majority, won't impact the economy
- Critics say the move will give unlimited power to cabinet and destroy Israel’s delicate system of checks and balances, They accuse Netanyahu of pushing the change to escape jail
Business
UAE tops globally in tertiary education
For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the...
- The 2022 GII says it tracks the most recent global innovation trends against the background of the pandemic, slowing productivity growth and other evolving challenges.
- It looks at whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts.
Business
Rothschild family to take investment bank private
The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out...
- The offer would be priced at 48 euros per share, or 19 percent higher than Friday's closing price, the holding said in a statement.
- It is also 15 percent up from the all-time high reached in January 2022.
Business
Newmont offers to buy Newcrest
If the deal is sealed, it would be gold sector's largest acquisition.
- Newmont's offer calls for the merged firm to be 70 percent owned by the Denver, Colorado-based company and 30 percent owned by the Australian firm.
- Newcrest's share price rose 9.27 percent to $16.90 (A$24.53) on the ASX on Monday.
Science
Environment Agency – Abu Dhabi issues marine water quality policy
ABU DHABI, Â UAE - The Environment Agency - Abu Dhabi (EAD) has issued a policy on sustaining marine water quality...
- The policy is part of EAD's efforts to maintain and sustain Abu Dhabi's marine waters and limit practices that can cause marine pollution.
- The policy aims to develop relevant legislative and regulatory frameworks and halt discharges that may have adverse impacts on the marine environment
Science
DEWA cleans beach, plants mangrove as  part of 26th National Environment Day
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) participated in a campaign to clean the beach and plant mangroves...
- DEWA organized virtual environmental lectures in Arabic and English, in cooperation with Dubai Municipality.
- More than 250 DEWA employees and their families participated in the event.
Economy
Markets take a hit as US jobs fan rate worries
optimism was dealt a heavy blow Friday by data showing more than half a million new jobs were created in...
- The rally enjoyed through January has ended this month as investors contemplate a period of high borrowing costs aimed at bringing inflation down from multi-decade highs
- A softer tone from the Fed regarding its monetary tightening campaign had allowed market participants to entertain the possibility of a pause, or even a cut, later in the year
Economy
Average occupancy in Dubai hotels 73% in 2022, highest in world
The high occupancy was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019.
- The high occupancy was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019.
- Dubai’s hotel inventory at the end of December 2022 comprised of 146,496 rooms at 804 hotel establishments.
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
Business
Company News
Latest News
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...
Market Report
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...
Economy
Enhanced norms help UAE win financial crime battle
“This has led to heightened compliance levels with the country's laws, aligning with global efforts to combat money laundering and...
Economy
Most Read
COP28 UAE
Innovative solutions crucial for marine conservation
The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region,...
- The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region, says Tatiana Antonelli Abella of Goumbook.
- This multi-stakeholder initiative, supported by the UN-UAE Office, aims to enhance marine conservation, promote a sustainable blue economy, and support SDG14 drive, she adds.
Geostrategy
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...
- The economy ministry said on Saturday that Sunday would be the last day prospective buyers could apply for the scheme.
- Under the scheme, the government paid out thousands of euros per customer to partially cover the cost of buying an electric car.
Economy
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
- The mining sector posted an 11.1 percent fall as compared to September due to the decrease in the quantities of "crude oil petroleum and natural gas"
- However, manufacture of cement and other non-metallic mineral products posted a 4.3 percent jump, and printing and reproduction of recorded media increased by 3.2 percent