Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Economy
Jordan and Iraq set up electrical project on the border
The two prime ministers affirmed that Jordan and Iraq maintain historical and strategic ties and are committed to expanding bilateral...
- Prime Minister of Jordan Bisher Khasawneh and his Iraqi counterpart, Mustafa Kazemi laid the cornerstone for the electrical interconnection project
- Khasawneh stressed that Jordan's leadership, government, and people are committed to supporting the security of Iraq and improving the country's stability, prosperity, and progress
Algerian, Spanish gas firms agree to ‘revise’ prices
The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of...
- Algeria, Africa's top natural gas exporter, has signed a flurry of deals with southern European governments and energy firms seeking to offset the Ukraine war fallout
- Spanish gas regulator Enagas says Algeria was the country's second gas supplier (24 percent) in August, behind the United States (26.5 percent)
Economy
Fed official says US to see more interest rate hikes
With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year...
- Prices have surged over the past year, partly due to global supply chain problems that created shortages of key parts
- The situation was exacerbated with Russia's invasion of Ukraine in February, spurring a surge in energy prices and affecting global food markets
Economy
UAE becomes a growing business, brand hub, followed by Saudi Arabia
To draw firms from around the world, the UAE and KSA have been working hard over past few years to...
- The UAE and Saudi Arabia have been developing infrastructure on par with developed nations to attract businesses from around the world
- Dubai is also great for businesses from the rest of the globe because it is relatively simple to register a property, obtain building licenses, and enforce contracts
Economy
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven...
- The IMF chief said that if central banks move too aggressively to tamp down price pressures, it could trigger a prolonged economic downturn.
- Finance ministers and central bank governors from over 180 nations will gather in Washington for a meeting of the IMF and WB.
Market Report
ADX adds 5 single stock futures
The move will help develop ADX derivatives market.
- The addition of new contracts has doubled the total number of derivative products on ADX to 10 in less than a year.
- Market participants will be able to trade on leverage and hedge their equity exposure using these contracts.
Business
Air travel rebounds but still suffering from pandemic
Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected...
- Total air traffic in August soared up by two thirds from the same time last year, but was still only at 73.7 percent of its pre-Covid level.
- Asia experienced the biggest rebound, where traffic more than tripled.
Economy
Lebanon years away from gas riches despite Israel deal: analysts
With the demand for gas rising worldwide because of an energy crisis sparked by Russia's invasion of Ukraine, Lebanon hopes...
- Following years of US-mediated negotiations, the rival states now appear to be nearing agreement
- A deal would allow "offshore exploration activities to continue, but that doesn't mean that Lebanon has become rich
Business
Investopia partners discuss investment opportunities in ME region
The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development.
- The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development
- The global investment platform also announced its next annual conference on 1 and 2 March 2023 in Abu Dhabi
Economy
Fitch lowers outlook for UK rating to negative
The failure to flesh out her economic plan failed to calm the jittery markets, however, and the pound slid 2.01...
- Almost a month since she succeeded Boris Johnson, Truss has alienated voters, financial markets and many of her own lawmakers
- Fitch said that the large and unfunded fiscal package announced as part of the new government's growth plan could lead to a significant increase in fiscal deficits
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Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Company News
Ma’aden, BADC ink agreement
Business
Latest News
Gold prices soar over 3% amid escalating Middle East conflict
Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months,...
Economy
GCC keen to address economic problems: Albudaiwi
Marrakesh, Morocco-- The Gulf Cooperation Council (GCC) attaches great importance to finding solutions to economic problems such as the eradication...
Economy
Dubai’s sustainable vision beyond skyline
Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
Economy
Most Read
Iran says US ‘can not renege’ on deal to transfer $6bn via Qatar
Tehran, Iran-- Iran said the United States "can not renege" on an agreement to transfer $6 billion in frozen funds through...
- Tehran has come under intense scrutiny since Hamas stormed across Israel's border.
- Iran has insisted it was not involved, but celebrated the Hamas attack as a "success".
Business
Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT
RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...
- Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics.
- Manufacturing activities recorded nearly US$378 billion revenues, followed by the wholesale and retail trade at US$201 billion.
Business
JPMorgan Q3 profit at $13.2bn
The bank’s revenues rose 22 percent to US$39.9 billion.
- One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
- NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers