Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
Economy
Economy
World Bank urges Sahel nations to diversify economies
Alerting five West African countries to the danger posed by climate change, the World Bank has urged them to diversify...
- World Bank warned that millions were at risk or already experiencing food insecurity due to low agricultural production from extreme weather
- The report includes proposals such as restoring degraded land and boosting economic opportunities for communities
Economy
European Union pledges €364m in grants to Jordan
The aid packages include supporting human development, civil society, governance, institutional development and green transition.
- The aid packages include supporting human development, civil society, governance, institutional development and green transition
- EU ambassador to Jordan Hadjitheodosiou said that the programme sets the priorities for cooperation between the two nations
Geostrategy
UAE says global pacts can help face labor related challenges
The UAE highlighted the significance of complying with international work standards and developing partnerships that empower countries to overcome the...
- The UAE said that it is important to guarantee the rights of employers and employees.
- Global cooperation would help in reducing inequality and discrimination that employees may be exposed to.
Economy
Arab economies expected to grow by 5.4 percent in 2022: AMF
Arab economies grew by 3.5% in 2021. The higher growth in 2022 is attributed to an improvement in global demand...
- However, economic growth for Arab countries is expected to decline in 2023 to about 4 percent, in line with the decline in global economic growth rate.
- Global economy is expected to rise 3.2 percent in 2022 and 2.9 percent in 2023, said Abdulrahman bin Abdullah Al-Hamidy, chairman AMF Board of Directors.
Research
Treated sewage water improves wheat growth, production in UAE
A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...
- The highest wheat productivity rate was achieved when using treated sewage water.
- key factors that improve wheat quality are the fertility of the soil, which must contain important nutrients and the quality of irrigated water.
Economy
Dubai reduced carbon emissions by 21 percent in 2021
The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
- The Dubai Supreme Council of Energy in a meeting discussed increasing the share of solar energy.
- The meeting deliberated waste recycling in power and water production, industry, ground transport and waste treatment.
Economy
Bahrain central bank’s $185m treasury bills oversubscribed 216%
Manama, Bahrain—Bahrain’s latest government treasury bills, valued at Bahrain Dinar 70 million ($185 million), have been oversubscribed by 216 percent....
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government.
- The issue date of the bills is 21 September 2022 and the maturity date is 21 December 2022.
Economy
Markets drop again as traders brace for another big Fed hike
With recent data showing US inflation rooted at four-decade highs, investors are increasingly pessimistic about the outlook for the global...
- Several central banks are due to make rate announcements this week, with Japan and Britain among the biggest, although the main event is Wednesday's Fed decision.
- Policymakers, including Fed boss Jerome Powell, have repeatedly said their ultimate aim is to bring inflation under control, even if that means sending the economy into recession.
Economy
UAE financial restructuring body holds second meeting
The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.
- The meeting discussed the development of the financial reorganization service.
- It deliberated on the best ways to communicate relevant information about financial restructuring procedures.
Economy
Lebanese currency slides to record low amid bank closures
With four out of five Lebanese now considered poor according to the United Nations, the country has been desperately seeking...
- For decades, the Lebanese pound was pegged at 1,500Â to the dollar, meaning that it has lost around 95 percent of its value since 2019
- Unable to transfer or withdraw their dollar deposits, many have resorted to desperate bank heists to free their money
Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Company News
Latest News
Israel-Hamas war a ‘new cloud’ over world economy, says IMF
Marrakesh, Morocco-- The war between Israel and Hamas has cast a shadow over the IMF-World Bank annual meetings in Morocco, with...
Geostrategy
Risk of oil supply disruptions due to Hamas-Israel conflict limited: IEA
The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its...
Geostrategy
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
Most Read
Economy
Activists term IMF, World Bank ‘worst scam of the century’
Activists from developing nations belonging to a group called People's Alternative Global Tribunal organized themselves in the Moroccan city as...
- They blamed both the institutions for pursuing an economic model that favours political and financial elites
- The International Monetary Fund and World Bank are holding their first annual meeting in Africa in half a century
Economy
US wholesale prices rise more than expected in September
Washington, United States - US wholesale prices rose more than expected in September, government data showed Thursday, as energy prices continued...
- The producer price index (PPI) rose by 0.5 percent last month, building on August's 0.7 percent increase, according to data from the Labor Department.
- The US Federal Reserve has raised its key lending rate 11 times in the last 18 months to a 22-year high as it looks to bring down consumer inflation.
Economy
IMF slashes its growth forecast for China and eurozone
Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said...
- The IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0% but cut its 2024 forecast to 2.9% from its July forecast of 3.0%.
- Its research revealed a 10% rise in oil prices would dampen global output by about 0.2% in the following year and boost global inflation by about 0.4%