There’s nothing more interlinked and global as international financial markets: Swiss president
In an exclusive interview with TRENDS, Swiss President Karin Keller-Sutter emphasized the critical role of financial stability in safeguarding global...
Economy
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
Economy
European gas prices fall to lowest level since record high in 2022
A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts...
- Gas exports by Russian energy giant Gazprom to the European Union and Switzerland fell by 55 percent last year, the company said Monday.
- Europe was previously Gazprom's main export market but supplies have been drastically reduced because of sanctions following Russia's offensive in Ukraine in 2022.
Economy
Transport employees in Tunisia stop work citing late salary
TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack...
- The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis
- The North African nation is struggling with debts of more than 100 percent of gross domestic product
Business
Regional maritime sector event to be held in the UAE
DUBAI, UAE - Seatrade Maritime Logistics Middle East (SMLME) is set to take place from May 16 to 18 2023,...
- The region’s maritime sector will come together and discuss a wide range of topics concerning the industry's future.
- The event’s relevance to the sector and its potential impact on the region’s economy has helped it gain the support of major industry players.
Science
Abu Dhabi introduces Mobile BSL-3 Laboratory
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has introduced the first of its kind mobile BSL-3 (Biosafety...
- The BSL-3 mobile laboratory will enhance the UAE capital's infectious disease preparedness through swift, safe and accurate testing of communicable diseases.
- The mobile laboratory will be accessible across four sites in Abu Dhabi.
Economy
UAE and Azerbaijan pledge to enhance ties ‘across all fields’
Abu Dhabi, UAE-- The UAE and Azerbaijan have reviewed bilateral relations between the two countries and pledged to deepen ties...
- The two top diplomats reviewed prospects for cooperation between the two countries in a number of sectors
- Bayramov stressed the depth of the UAE-Azerbaijan relations and his country's aspiration to enhance and develop joint cooperation with the UAE at all levels
Economy
Canada’s ban on foreign homebuyers comes into effect
Many experts have also said the ban on foreign buyers -- who accounted for less than five percent of home...
- Several exceptions in the act allow individuals such as refugees and permanent residents who are not citizens to buy homes
- Canada Mortgage and Housing Corporation -- the national housing agency -- said in a June report that close to 19 million housing units will be needed by 2030
Economy
More than 45,000 migrants made Channel crossing to UK last year
Migrant issue has become a huge political problem for the Conservative government, which has promised to bring down illegal immigration...
- In total, 45,756 people made the dangerous small-boat crossing of one of the world's busiest shipping lanes last year, compared with 28,526 in 2021
- The last year also saw the highest ever single-day total of migrants making the crossing, with 1,295 making the journey on August 22
Economy
Qatar Financial Centre manages assets worth US$28.3bn: CEO
Doha, Qatar-- Qatar Financial Centre (QFC) is managing assets worth $28.3 billion and has more than 1,500 local and global...
- Al Jaida said that QFC has accelerated the growth of its works in alignment with the evolution of the Qatari economy which became diverse and dynamic
- He noted Qatar's efforts are currently focused on building a sustainable, modern and responsive economic system that contributes to enhancing economic diversification
YEARBOOK 2023
Qatar’s economy remains strong despite global crises
The year 2022 was crowned with excellent ratings for the Qatari economy, as the S&P's credit rating agency raised the...
- Powerful ratings, despite the fluctuations and crises witnessed by the global economy in recent years, the solidity of the Qatari economy has been confirmed by rating agencies
- Despite global crises, the Qatari economy recorded strong performance rates on most macroeconomic indicators, and looks forward to consolidate its leadership this year
Economy
Over 2m riders used public, shared transport during New Year’s Eve in Dubai
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) confirmed that 2,166,821 riders used its public transport, shared mobility means...
- The figure reflects a 33 percent rise from last year’s number, which was 1,632,552 riders.
- The breakdown of ridership for metro and tram were: Metro: 958,161 riders (compared to 640,175 last year), Tram: 49,855 riders (34,672 last year).
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There’s nothing more interlinked and global as international financial markets: Swiss president
In an exclusive interview with TRENDS, Swiss President Karin Keller-Sutter emphasized the critical role of financial stability in safeguarding global...
Economy
Company News
DP World spends US$6bn
Business
Latest News
Climate change already reducing global GDP: report
Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the...
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
Business
UAE pioneers smart city, clean energy initiatives
"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total...
Economy
Most Read
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
- CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
- Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Market Report
Stock markets on hold as investors await key US inflation data
Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...
- The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
- With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
Business
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.
- Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
- The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.