Democratization of investments: Digital platforms open private equity to individual investors
The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
Economy
Saudi inflation rate eases to 2.9 percent in November
Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.
- Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent
- In the last couple of months, food prices rose by 3.6 percent while transport costs have increased by 4 percent
Economy
WHO sees Covid-19 emergency dying out in 2023
Urging China to share information that might pinpoint how the pandemic started, the WHO has said that it was hoping...
- The WHO's emergency committee on Covid-19 will discuss the criteria for declaring an end to the emergency phase when they next meet in January
- Nearly 650 million confirmed Covid cases and more than 6.6 million deaths have been reported to the WHO, though the UN health agency acknowledges this will be a vast undercount
Economy
EU leaders meeting in Brussels to focus on trade dispute with US
The EU summit was to also examine the situation, and consequences in Europe, of Russia's war in Ukraine, which European...
- Brussels views the "Buy American" condition for purchasers of electric vehicles mainly made in the United States as discriminatory against European car manufacturers
- EU chief said the e-vehicle subsidies contained in a broader US Inflation Reduction Act "risk un-levelling the playing field and discriminating against European companies
Economy
UAE bank investments up to $132bn by September end
According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion.
- According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion
- Held-to-maturity-securities comprised 38.9 percent, or $51 billion of the total investments
Economy
Dubai brings in new rules to govern its Digital Economy Court
Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently...
- A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital infrastructure
- The DIFC Courts Rules will facilitate the efficient and modern resolution of digital economy disputes
Economy
Gulf central banks raise interest in line with US Fed’s rate hike
The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates...
- The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points
- The Central Bank of the UAE (CBUAE) earlier Wednesday raised the Base Rate applicable to the Overnight Deposit Facility by 50 basis points
Economy
Morocco lose game but win hearts all over world
Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic...
- All over Morocco, shops have been selling team jerseys and flags.
- The news agency said the king also conveyed a congratulatory message to French President Emmanuel Macron by telephone post-match
Economy
Recession in Germany to be lower than predicted, says Ifo Institute
Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.
- Economic output growth is expected to shrink by 0.1 percent in 2023, the Munich-based Ifo Institute said
- Inflation in Germany is expected to slide from 7.8 percent in 2022 to 6.4 percent in 2023.
Economy
EU energy ministers push gas price talks into next week
Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses...
- Europe has entered a bitingly cold winter with fewer energy options because Russia has reduced gas supplies in retaliation for EU sanctions imposed over its war in Ukraine
- Several EU countries, including France, Poland and Spain, criticised the commission proposal as being designed so the price cap could never be triggered
UK inflation slows to 10.7% in November
The data was published on the eve of an interest rate decision from the Bank of England, which is widely...
- The Consumer Prices Index eased to 10.7 percent last month, the Office for National Statistics (ONS) said in a statement
- The modest slowdown followed falls in the price of motor fuel, but inflation remains high owing to soaring domestic energy and food bills
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Democratization of investments: Digital platforms open private equity to individual investors
The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...
Company News
Latest News
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
Business
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
Economy
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
Business
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Geostrategy
Bahrain and Thailand seek to boost economic cooperation
Manama, Bahrain-- Bahrain and Thailand have held discussions to enhance economic cooperation in a meeting between top officials of the...
- The two officials took a review of the progress made in the political and economic cooperation between the two kingdoms
- They underscored the resolve of the two countries to consolidate security and peace, and also support sustainable development goals
Economy
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
- The report projects a nearly $11 billion deficit on average over 2023-2026 which is 0.5 percent of average GCC GDP over this period
- Prudent fiscal policy and the relatively higher oil price environment have resulted in some governments repaying part of their debt stock
Geostrategy
Gaza faces shortage of flour due to Israel-Hamas war
KHAN YUNIS, PALESTINIAN TERRITORIES - One of the last grain warehouses in the Gaza Strip has been damaged by Israeli strikes...
- Of the five flour mills in the densely populated Palestinian territory, at least two have been hit since the war began on October 7.
- Humanitarian aid arriving via Egypt has done little to remedy the shortages, made worse by power cuts and a lack of fuel for generators.