China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Economy
IsDB sanctions US$1.12bn financing for member countries
The Islamic Development Bank (IsDB) has approved a $1.12 billion financing for development projects in various sectors in nine member...
- In the Republic of Uganda, the financing of US$ 100 million, part of the Islamic tranche, will enable the country to untap its oil reserves and export oil to international markets
- In the Health sector, sovereign financing of $207 million was approved for the Strengthening of the National Referral Hospital on Oncology Center for Indonesia
Business
Loan exemptions: GCC’s way to help individuals, firms
The Gulf countries assist loan defaulters by delaying payments or exempting those who can't pay to save emerging companies and...
- The Gulf countries assist loan defaulters by delaying payments or exempting those who cannot pay to save emerging companies and prevent their accumulation of financial burdens
- Loan exemptions in sectors such as housing, health, marriage and investments are estimated to be in millions of dollars across the region
Geostrategy
Queen Elizabeth II funeral on September 19 in London
The state funeral for Queen Elizabeth II will be held at Westminster Abbey in London at 11:00 am (1000 GMT)...
- Buckingham Palace also confirmed that the queen, who died on Thursday aged 96, will then be taken to St George's Chapel at Windsor Castle.
- The queen's coffin will be taken on a 180-mile (290-kilometre) trip by road from the remote estate to the Palace of Holyroodhouse in Edinburgh.
Geostrategy
Summit in UAE discusses global partnerships, prosperity
Over 200 senior officials convened in the "Ambassadors Forum", organized by the World Government Summit Organization in partnership with UAE...
- The summit discussed role of diplomacy in shaping future governments and achieving global prosperity.
- UAE Minister of Economy spoke on the critical priorities for governments in the next decade.
Business
‘Jordan not affected by India’s decision to restrict rice exports’
President of Foodstuff Traders Association (FTA), Khalil Haj Tawfiq, said India's decision to restrict its exports of some rice varieties...
- India's decision will not affect availability of rice in Jordan's local market, neither hike its prices.
- The decision of banning export of certain varieties of rice are not imported by Jordanian traders.
Science
World Green Economy Summit 2022 theme revealed
Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...
- The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
- It also reflects international efforts to achieve climate goals.
Economy
Egypt hikes price of customs dollar to highest ever
Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported...
- The Egyptian Ministry of Finance raised the price of the customs dollar to 19.31 Egyptian pounds with immediate effect
- In June, the Egyptian government released the customs dollar price, which was recorded at 18.64 pounds, at that time equal to the dollar price in banks
Geostrategy
Putin wants talks with Erdogan over Ukraine grain
The Kremlin said that President Vladimir Putin will discuss with Turkish President Recep Tayyip Erdogan a deal allowing grain exports...
- The agreement between Russia and Ukraine, brokered by Turkey and the United Nations, designated three ports to send grains through a Russian blockade.
- Putin claimed most consignments were arriving in Europe, not poor countries where grain was needed most.
Business
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...
- The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
- The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.
Geostrategy
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...
- ACCI Chairman highlighted investment opportunities in the real estate, building and construction sectors to the Russian delegation.
- The Chairman stressed Ajman Chamber's keenness to develop economic ties and attract investors to the emirate.
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China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
Economy
Company News
Latest News
‘Qatar remains committed to curb financial crimes’
The Gulf country "remains commitment to international strategies and plans targeting financial crime. In 2023, FATF completed its evaluation of...
Economy
Farmers turn to solar power in Syria’s former breadbasket
Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
Business
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
The Kingdom's production in the coming months November and December will be approximately 9 million barrels per day, the country's...
Business
Most Read
Economy
Jordan takes measures to cut effect of global crises on food security
Amman, Jordan-- Jordan has taken measures to hedge against the impact of international crises on food security and lower its...
- The kingdom's agriculture minister said the measures directly contributed to improving the resilience and sustainability of food security in Jordan
- He noted that the kingdom, through a national strategy, established the food security council and launched an initiative to stop the wastage of food
Economy
Libya orders Brussels envoy detention on graft charges
Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's...
- The government in western Libya had earlier announced Jerary's dismissal without giving an explanation
- The corruption scandal erupted after an audio recording attributed to Jerary was posted on social media
Business
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
- IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
- It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses