Economy

FAB plans $4.08bn rights issue

UAE’s largest bank seeks capital for growth.

flydubai launches new flights

Riga, Salzburg, Vilnius flights begin from Dec

ADNOC Gas Q3 profit $1.34bn

Stronger earnings support higher full-year outlook

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

Glencore to pay US$180m

Payment for settling graft claims against firm in DR Congo.
  • The settlement with DRC is related to investigations by the country's authorities and the US Department of Justice, Glencore said.
  • Glencore disclosed in 2018 that the US Justice Department had launched a corruption investigation linked to the group's business in Nigeria, Venezuela and DRC.

Germany key destination for disillusioned Tunisians

Europe's biggest economy, with its low birth rate, is crying out for labour, and many Tunisians, exhausted by years of...
  • Numbers are still small but rising fast. Germany granted 5,474 work permits to Tunisians from January to October -- up from 4,462 in the whole of last year.
  • Some employers offer contracts to help ease the visa process and even pay for six months of language tuition to help their future workers.

Saudi sole bidder to host 2027 Asian Cup after India exit

KUALA LUMPUR, MALAYSIA - Saudi Arabia on Monday became the sole bidder to host the 2027 Asian Cup after India...
  • The Asian Football Confederation said in a statement that the All India Football Federation had pulled out from the selection.
  • The statement did not provide any reasons for India's decision.

Salaries, work environment, job security top UAE job features for 2023

The least important factors reportedly are aesthetics of the company such as the logo and website design and positive media...
  • The least important factors reportedly are aesthetics of the company such as the logo and website design and positive media presence
  • 7 in 10 respondents in the UAE find an employer attractive if they follow good ethics and practices, followed by friendly company culture

Jordan PM launches women empowerment strategy

This strategy aims to eliminate all forms of gender-based discrimination.
  • This strategy aims to eliminate all forms of gender-based discrimination
  • It also aims to enhance women's participation in the labor market

EU spent €11.8 billion on imports of non-plug-in hybrid cars in 2021

Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports...
  • Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports of hybrid and electric cars (55 percent)
  • Electric cars are an important part of the energy transition and they are becoming increasingly popular, with international trade in hybrid and full electric cars on the rise

UAE secured 40% of Japan’s crude oil needs in October

94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain...
  • 94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman
  • Oil remains the most significant energy source in Japan, accounting for about 40 percent of the country’s total energy supply, according to the IEA

UN agency wants FIFA deal for World Cup labour rights role

Doha, Qatar— After fierce criticism of the Qatar World Cup, the head of the UN labour agency on Sunday pressed FIFA's...
  • FIFA has faced increased pressure after years of criticism of labour rights in Qatar, ranging from controversy over deaths on mega construction projects to unpaid salaries
  • The 2026 World Cup will be held in the United States, Canada and Mexico

Moroccans protest price hikes and ‘repression’

Hit by the economic impact of the Covid-19 pandemic and inflation, poverty levels are back to where they were in...
  • People converged from across Morocco for the protest, which was also called to highlight the cases of several jailed bloggers and journalists
  • Consumer price inflation was 7.1 percent year-on-year in October, due in large part to surging food prices triggered partly by an intense drought

EU head says bloc must act over US climate plan changes

EU chief Ursula von der Leyen said the bloc must act to address "distortions" created by Washington's $430-billion plan to...
  • EU countries have poured criticism on Washington's landmark Inflation Reduction Act, seeing it as anti-competitive and a threat to European jobs
  • The act, designed to accelerate the US transition to a low-carbon economy, contains around $370 billion in subsidies for green energy as well as tax cuts

UNFPA and corporate partners drive reproductive justice in workplaces

Mariarosa Cutillo, UNFPA Chief of the Private Sector and Civil Society Branch, says businesses need to provide adequate maternal health...

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Strains emerge in 72-year-old Türkiye-Israel trade ties

Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel...

48,616 firms register with Dubai Chamber of Commerce in January-September 2023

DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...

UAE unveils ‘roadmap’ to reduce food waste by 50 percent

Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...

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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...
  • Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
  • Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.

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...
  • The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
  • By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.

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...
  • Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
  • The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines