World Bank announces record $100 bn support for world’s poorest countries
The World Bank announced Thursday that it had raised close to $24 billion to provide loans and grants for some...
How city governments can foster tech-sector growth without breaking the bank
City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
Business
Abu Dhabi Airports announces 4.7m passenger traffic in Q3 2022
ABU DHABI, UAE - Abu Dhabi Airports Monday said that in Q3 2022 passenger traffic totaled 4.7 million passengers, a...
- Abu Dhabi International Airport handled 144,083 tonnes of air freight in Q3 2022.
- Third-quarter statistics confirm that 49,046 Air Traffic Movements (ATMs) were recorded across the five airports.
Economy
Qatar’s records trade balance surplus of $6.8 billion in Oct 2022
Doha, Qatar---Qatar's merchandise trade balance recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase...
- The trade balance, which is the difference between total exports and imports, however, decreased by 6 billion riyals, or 19.2 percent, compared to September 2022.
- Merchandise imports increased to about QR 12.9 billion, an increase of 45 percent compared to October 2021, and an increase of 14.3 percent compared to September.
Economy
Police bust cocaine ‘super-cartel’ in Dubai, Europe: Europol
The Hague, Netherlands—Police have dismantled a huge drugs "super-cartel" that controlled a third of Europe's cocaine trade, arresting 49 people in...
- The EU's policy agency said the huge international operation seized 30 tonnes of the drug and also involved arrests in France, Spain, Belgium and the Netherlands
- Europol said Dubai had arrested two "high-value" suspects who are linked to the Netherlands, another two linked to Spain and two more connected to France
Economy
Jordan makes two big seizures of captagon pills on Syrian border
Amman, Jordan— Jordan has seized a big haul of drugs being smuggled into the kingdom from Syria in two different...
- Border guards at the Jaber border crossing, Jordan’s main border crossing with Syria, on Sunday seized 10,000 Captagon pills and 1 kg of crystal meth hidden inside a truck
- A day earlier the Eastern Military Zone in Jordan seized 564 palm-sized sheets of hashish, 20,000 Captagon pills, a Kalashnikov rifle and ammunition
Economy
AMF signs US$1bn agreement to shore up Yemeni government reforms
Riyadh, Saudi Arabia—The Arab Monetary Fund has signed a $1 billion agreement with the Yemeni government to shore up the...
- The program seeks to contribute to backing efforts made to implement reforms to strengthen the financial status of the Yemeni government,
- It seeks to promote comprehensive and sustainable economic growth, create job opportunities and push sustainability of Yemen's economy
Economy
Asian markets, crude drop on China unrest
Investors are now looking ahead to the release of US jobs data at the end of the week, which could...
- China-linked stocks took the brunt of selling, with Hong Kong's Hang Seng Index down two percent and Shanghai off one percent
- The prospect of a hit to demand in the world's biggest crude importer hammered oil prices, with both main contracts down more than two percent
Economy
Egyptian Exchange rises on buying by FIIs
The market capital gained about $0.60 billion to close at $35 billion, amid transactions worth $0.08 billion.
- The market capital gained about $0.60 billion to close at $35 billion, amid transactions worth $0.08 billion
- The broader EGX 70 EWI index of the leading small and mid-cap enterprises (SMEs) increased by 1.37 percent, ending at 2,550.95 points
Economy
Iraq PM says ‘part’ of stolen US$2.5bn recovered
Appealing to guilty parties to hand themselves in and return all the money, the prime minister of Iraq has revealed...
- The scandal has provoked widespread ire in Iraq, an oil-rich country ravaged by endemic corruption
- According to a document from the country's tax authority, the colossal sum was allegedly expropriated between September 2021 and August this year through 247 cheques
Economy
Egyptian LNG exports will exceed 8 million tonnes in 2022: Minister
Ninety percent of Egyptian LNG exports will be destined for European Union countries, El Molla said.
- Ninety percent of Egyptian LNG exports will be destined for European Union countries, El Molla said
- He said the companies will focus on reducing emissions from production operations while stepping up their activities
Economy
Rate cuts may help in avoiding chronic recession
It is logical for the FRB to halt the wave of escalation of interest rates on the dollar, which was...
- The Federal Reserve may reverse its policies and reduce interest rates to ensure preservation of the US and global economies, says an economist
- It is logical for the Fed Reserve to pursue it policy in halting the wave of escalation of interest rates on the dollar, Qatar-based Bashir Al Kahlout adds
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World Bank announces record $100 bn support for world’s poorest countries
The World Bank announced Thursday that it had raised close to $24 billion to provide loans and grants for some...
Company News
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Dubai govt approves incentives to boost emirate’s economy
Dubai, UAE – Dubai government on Thursday approved several initiatives to stimulate the industrial sector in the emirate besides announcing...
Economy
Gaza unrest poses risk to oil markets, global growth
Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest...
Economy
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Business
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.
- The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
- ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
Economy
France to host ‘humanitarian aid’ conference for Gaza
sraeli Prime Minister Benjamin Netanyahu has said there will be no fuel delivered to Gaza and no ceasefire with Hamas...
- Thursday's aid conference has been put together in a hurry on the sidelines of the annual Paris Peace Forum on November 10-11
- Few Arab nations are expected to send delegates, although the Palestinian Authority will send its prime minister and Egypt a ministerial delegation
Putin, Erdogan and Raisi make visits in Central Asia
Tashkent will host the Iranian and Turkish presidents, as well as Pakistani Prime Minister Anwaar-ul-Haq Kakar and Central Asian leaders....
- The talks in Tashkent summit are expected to focus on trade, humanitarian cooperation and transport
- Turkish president Recep Tayyip Erdogan is likely to bring the Gaza issue to the table