Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Trump announces 25% tariffs on foreign-built vehicles
US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners...
Economy
Business
DEWA launches plan for fast approval of electricity connections Â
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) launched the 'OWNEK' awareness initiative to help its accredited contractors and...
- The OWNEK initiative will save the contractors and consultants time and effort and speed up the workflow.
- The initiative includes a series of awareness sessions and detailed videos in Arabic and English.
Economy
ADAFSA’s Auwn Program wins Global Business Excellence Award
ABU DHABI, UAE - Abu Dhabi Agriculture & Food Safety Authority (ADAFSA) has just been announced as the winner of...
- Auwn Community Program assisted in accomplishing ADAFSA's Corporate Social Responsibility goals by implementing several community initiatives.
- These include blood donation drives, support for people of determination and cancer patients, community and environmental development initiatives.
Business
RAK first in world to achieve 19 ISO 50001 certifications
Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
- The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
- A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
Economy
Bahrain exports $2.98bn worth of products during Q4 2022
The value of imports rose by 0.3 percent, reaching $3.75 billion during the quarter compared to $3.72 billion in Q4...
- The value of imports rose by 0.3 percent, reaching $3.75 billion during the quarter compared to $3.72 billion in Q4 2021
- The top 10 countries accounted for 69 percent of the value of imports, while the remaining countries 31 percent
Economy
Gross banks’ assets jump to US$988 billion in November: CBUAE
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased...
- Gross credit increased due to 0.8 percent rise in domestic credit, overriding the 1.7 percent reduction in foreign credit
- Domestic credit grew because of 0.4 percent, 2.0 percent and 0.7 percent climbs in credit to the government sector, public sector (government related entities) and private sector
Economy
S&P Global and Moody’s confirm Qatar’s strong credit rating
Fitch and Capital Intelligence agencies also continued to rate Qatar's sovereign rating at the level of AA with a stable...
- Fitch and Capital Intelligence agencies also continued to rate Qatar's sovereign rating at the level of AA with a stable outlook, which reflects Qatar's strong creditworthiness
- Benjamin Young, a representative of S&P Global, revealed that it uses six basic pillars, each with grades, economic elements, and percentages in its rating of countries
UN faults climate change for jump in human trafficking risks
The UN drugs agency noted that an increase in cases of human trafficking had been observed in Bangladesh and the...
- The continuing war in Ukraine is also another risk factor for increased human trafficking, UNODC said
- The UN report is based on data from 141 countries collected from 2017 to 2020, and the analysis of 800 court cases
Economy
Iraqi central bank chief quits amid currency volatility
Iraq's prime minister said the country's central bank governor had been relieved of his duties as the local currency continues...
- Analysts and officials say the drop in value coincides with efforts to make Iraq's banking system compliant with the international electronic transfer system.
- Banks in the oil-rich country have an estimated US$100 billion in funds held at the US Federal Reserve.
Science
CST announces first Space Entrepreneurship Alliance in Saudi Arabia
RIYADH, SAUDI ARABIA - Saudi Arabia's Communications, Space & Technology Commission (CST) has announced the formation of a Space Entrepreneurship...
- The alliance was announced during the Commission's participation in the seventh edition of the Garage Disrupt event.
- The alliance seeks to connect entrepreneurs with investors and experts in the space sector.
Economy
Egypt signs $1.5 billion financing agreement with ITFC: reports
Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation...
- Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation had reached $14.5 billion
- With Russia's war in Ukraine causing its wheat and oil bills to rise, Egypt has recently agreed to a $3 billion IMF loan package to cope with a currency crunch
Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Company News
Latest News
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...
COP28 UAE
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...
Economy
Most Read
COP28 UAE
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
- He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
- The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius
Business
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...
- The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
- Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.
Geostrategy
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
- The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
- Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.