Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
Economy
Geostrategy
France’s President to visit Algeria to ease tensed relations
The French presidency said that this trip will contribute to deepening the bilateral relationship, reinforce Franco-Algerian cooperation in the face...
- French-Algerian ties hit a low late last year after Macron reportedly questioned whether Algeria had existed as nation before the French invasion
- The North African country won its independence from France following an eight-year war, which ended with the signing in March 1962 of the Evian Accords.
Geostrategy
Russian agricultural products embargo to cause food crisis, says UN
Russian fertilizers and agricultural products must be able to reach world markets "unimpeded" or a global food crisis could strike...
- UN said it is important that all governments and the private sector cooperate to bring Russian agricultural products to market
- The UN chief vowed that his organization would try to "step up" grain exports from Ukraine before the onset of winter
Business
Jordanian, Algerian businesses aim for better trade relations
The Jordanian and Algerian business community agreed to a new vision for the two countries' economic relations, aiming to open...
- The Jordanian, Algerian sides stress on the need to develop action mechanisms to overcome difficulties that mutual trade faces.
- The two sides agree to intensify meetings and exchange delegations' visits to get acquainted with available economic opportunities.
Geostrategy
Two more grain ships leave Ukraine, says Turkey
Two more ships carrying grain have left Ukraine's Chornomorsk port, Turkey's Defense Ministry said on Saturday, bringing the number of...
- Ukraine's Sea Ports Authority said three seaports had begun loading food onto seven ships which would deliver 66,500 tonnes of wheat, corn and sunflower oil.
- The Authority said Ukrainian-origin food would be delivered to France, Sudan, Turkey and the Netherlands.
Market Report
ADX tops Arab region in market value increase, says AMF
The Abu Dhabi Securities Exchange was the leading Arab financial market in terms of performance last week, as its index...
- The AMF said that the market value of Arab stock exchanges rose by 2.5 percent, equivalent to some $110.64 billion at the end of trading last week
- The market value of the 13 Arab stock exchanges listed in the AMF’s database rose to $4.58 trillion at the end of last week
Economy
Arab Monetary Fund forecasts 4.4% GDP growth for Qatar in 2022
The fund said in a report released today that it expect inflation in Qatar will record about 4.3 percent during...
- The fund said in a report released today that it expect inflation in Qatar will record about 4.3 percent during the current year
- The report also expected that the growth rate of Arab economies would collectively about 5.4 percent in 2022
Economy
S&P upgrades Ukraine’s credit score of foreign debt
S&P Global Ratings said that boosting the country's credit score of foreign debt to CCC+ "reflects strong committed international financial...
- S&P's upgrade is based on the assumptions that donors like the US and European Union will continue to provide funding to Kyiv in coming months
- A potential loan agreement with the IMF could also lower pressures on Ukraine
Economy
Qatar’s oil and gas revenues rise 67% in H1 of 2022
Data released from the Ministry of Finance showed that oil and gas revenues increased to $32 billion, compared to $19...
- Data released from the Ministry of Finance showed that oil and gas revenues increased to $32 billion, compared to $19 billion in the first half of 2021
- Total revenues achieved, during the first half of this year, reached $41 billion, with $23 billion coming in the second quarter
Geostrategy
Putin, Macron call for IAEA inspection of Ukraine nuclear plant
Russian President Vladimir Putin and his French counterpart Emmanuel Macron called for independent inspections at the Moscow-occupied Zaporizhzhia nuclear plant,...
- Putin "stressed that the systematic shelling by the Ukrainian military of the territory of the Zaporizhzhia nuclear power plant creates the danger of a large-scale catastrophe.
- As per the Kremlin, both leaders called for experts of the International Atomic Energy Agency (IAEA) to inspect the plant "as soon as possible" and "assess the real situation.
Business
Listed insurance firms’ in UAE net profits at $222m in H1 2022
The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64...
- The total premiums of insurance firms listed in local financial markets in H1 2022 increased by 7.64 percent year-on-year to $302 million
- The total net profits of insurance companies listed in local financial markets in H1 2022 totaled $222 million
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
Company News
Latest News
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
Geostrategy
Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims
Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
Business
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Geostrategy
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.
- DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
- DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.
Geostrategy
US to auction three new oil and gas leases in the Gulf of Mexico
WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
- The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
- The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.
Business
Europe should move faster on energy transition, say IEA, ECB
PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
- Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
- Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.