Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
Economy
Germany’s third-largest gas importer seeks government aid
German gas company VNG on Friday became the latest European energy firm to seek government aid as reduced Russian pipeline...
- Russia has slowly dwindled supplies of gas to Europe in the wake of the invasion of Ukraine, sending prices for the fuel soaring.
- Uniper, Germany's biggest importer of Russian gas, asked for government support earlier this year under the pressure of rising gas prices.
Economy
EU ministers seek ways to face energy shock
Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with...
- The European Commission, the EU's executive, will ask the ministers meeting in Brussels to consider a series of highly complex proposals designed to ease the burden
- The main drive will be to find ways to compensate households and businesses that are struggling to pay their bills and keep activity going
Geostrategy
US sanctions Iranian company that shipped drones to Russia
The US Treasury said it had placed Tehran-based Safiran Airport Services on its sanctions blacklist, two months after the White...
- The Treasury said Safiran has coordinated Russian military flights between Iran and Russia, including those that carried the UAVs, personnel and related equipment
- The Treasury also placed sanctions on three Iranian companies involved in developing and producing drones and linked to the powerful Islamic Revolutionary Guard Corps
Economy
US launches Asia economic forum to counter China
The two-day event is the first face-to-face meeting between members of the new Indo-Pacific Economic Prosperity Framework (IPEF), an initiative...
- Trump's isolationist "America First" policy saw him yank the United States from the Asia-focused trade agreement called the Trans-Pacific Partnership
- Washington hopes to forge common standards throughout the region, but without promoting the access to its domestic market
Economy
Gas to flow ‘in weeks’ from Israeli licensed field disputed by Lebanon
Israel says the Karish field is located entirely within its exclusive economic zone, but Lebanon insists that part of the...
- Israel announced in early July that it had downed three unarmed drones launched by Hezbollah towards Karish
- Israel's Defence Minister Benny Gantz said late last month that any attack on its gas assets could reignite war between the two sides
Economy
UAE leads GCC towards circular carbon economy
The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index...
- The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index that focuses on energy management of the countries
- While Gulf economies are pursuing individual targets to slash down on emissions, there are several opportunities for countries in the region to cooperate for joint emission goals
Business
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...
- The total number of transactions according to SRERD records, during the past month amounted to 2,409.
- Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million.
Business
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
- The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
- DEWA has launched several pioneering projects and programs for the employment of Emiratis.
Research
UAE ranks 1st regionally in UNDP Human Development Report
The UAE has ranked 26th globally and first in the Arab world in the 2021/2022 Human Development Report, which is...
- The Human Development Index (HDI) is a summary measure for assessing long-term progress in three basic dimensions of human development.
- The three basic dimensions are a long and healthy life, access to knowledge and a decent standard of living.
Economy
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...
- The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
- Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.
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Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
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UAE Vice President forms Board of Investment Corporation of Dubai
Dubai, UAE - Vice President and Prime Minister of the United Arab Emirates Sheikh Mohammed bin Rashid Al Maktoum has...
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...
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...
Economy
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Market Report
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...
- Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
- Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
Business
ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology
ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
- The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
- Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Geostrategy
Jazan City for Primary and Downstream Industries exports first shipment to US
JAZAN, SAUDI ARABIA - The Jazan City for Primary and Downstream Industries has marked a significant milestone with the departure...
- The ship is laden with 37,000 tons of iron steel foundry product, representing the first-ever production of this commodity within the Kingdom.
- The city's port has extensive capabilities and advanced logistical transportation services, making it a hub for trade exchanges in Saudi Arabia.