IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
The backbone of the digital economy is upskilling: Jayney Howson
AI won't replace jobs, but reskilling will unlock its true potential—lifelong learning is the key, Jayney Howson, SVP of Learning...
Economy
Tunisia unveils economic plan betting heavily on private investment
Tunisian authorities are hoping to secure a nearly $2-billion bailout from the International Monetary Fund they hope will unlock other...
- The cash-strapped North African country is battling 10 percent inflation alongside slow growth
- The 2023-2025 plan "puts forward a new model of development" to reset Tunisia's economy and battle poverty
Business
Sustainability key for next-gen data center models
At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
- At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
- Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.
Business
Ducab partners with Vestas
Ducab's supplying medium voltage and earthing cable.
- Ducab Group is one of the UAE’s largest industrial manufacturing businesses.
- The move reinforces the strong industrial partnership between the UAE and Egypt.
Economy
Sharjah EC discusses impact of commercial boards on urban appearance
SHARJAH, UAE - The Sharjah Executive Council (SEC) discussed on Tuesday a report on commercial boards made for economic institutions...
- The discussion covered a range of general government issues that would strengthen various sectors in Sharjah and their legal frameworks.
- Issues that advance public services and which would increase the competitiveness of the Emirate of Sharjah were also discussed in the meeting.
Economy
Iraq’s oil revenues in 2022 hit four-year high of $115 billion
These revenues follow a spike in prices following Russia's invasion of Ukraine in February 2022, and OPEC producers' subsequent reluctance...
- Oil production accounts for some 90 percent of Baghdad's income, and the country is the second largest producer within the Organization of the Petroleum Exporting Countries (OPEC).
- The country exported more than 1.2 billion barrels in 2022, averaging 3.3 million barrels per day, according to the statement.
Business
Expo Centre Sharjah all set for SteelFab2023
SHARJAH, UAE - Expo Centre Sharjah (ECS) has announced the completion of all preparations for the 18th edition of the...
- The event is being organized by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry.
- Two hundred exhibitors have confirmed their participation representing elite local and international players in the metalworks industry.
Turkey’s inflation rate slows sharply to 64.3%
Analysts attribute the sharp slowdown to the so-called base effect, which makes year-on-year price increases look smaller when compared to...
- Consumer prices rose by 64.3 percent in December compared to an 84.4-percent year-on-year increase in November
- Turkey's economy has been going through convulsions since Erdogan tried to fight inflation by bringing down borrowing costs
Economy
Qatar’s PPI rises by 5.22% in November 2022
On M-o-M basis, the PPI of November showed a decrease of 3.03 percent when compared to October 2022.
- On M-o-M basis, the PPI of November showed a decrease of 3.03 percent when compared to October 2022
- When compared to November 2021, the PPI of Mining for November 2022 showed an increase of 7.72 percent
Business
Evergrande of China pledges to repay its debt in 2023
Beijing, China--China Evergrande has pledged to repay its debt this year, as the property giant faces a restructuring following Beijing's crackdown...
- The company has rushed to offload assets in recent months and has been involved in restructuring talks after racking up some $300 billion in liabilities
- An official document in November showed Evergrande had sold land earmarked for its headquarters in the southern tech hub of Shenzhen for $1 billion
Economy
Turkish exports rise 12.9% in 2022, says Erdogan
Erdogan explained that Turkish exports made their way to the markets of 197 countries and regions around the world.
- Erdogan explained that Turkish exports made their way to the markets of 197 countries and regions around the world
- Turkey is seeking to shift to a current account surplus through increased exports and lower interest rates
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
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‘COP28 makes significant strides in climate action’
"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty...
Economy
Gold strikes fresh record high as rate cut bets surge
Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the...
Business
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
COP28 UAE
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Economy
Turkey’s inflation surges to 62 percent in November
The latest batch of data show higher borrowing costs starting to slow down consumption -- a key goal of the...
- The TUIK state statistics agency said the rate moved to 61.98% last month from 61.36% in October
- The country's central bank expects inflation to peak in May of next year at between 70 and 75 percent
COP28 UAE
Ready to work with developing nations for green future: China
Chinese Vice Premier Ding Xuexiang said his country has promoted the targets for carbon peak and carbon neutrality, adding that...
- The vice premier called on the G77 and China to further speak with one voice and uphold common interests
- He urged all to promote sustainable development, a new path of coordination between development and protection
COP28 UAE
UAE and Turkmenistan pledge to ramp up ties ‘in all fields’
Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
- The leaders of the two countries reviewed ways to ramp up bilateral ties between the UAE and Turkmenistan in all fields
- They discussed the COP28 agenda and its role in bolstering international action to address the phenomenon of climate change