Putin expects Türkiye’s Erdogan to attend BRICS summit in Russia
Russian President Vladimir Putin said Wednesday he expected his Turkish counterpart Recep Tayyip Erdogan to attend a BRICS summit in...
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
Economy
Economy
WGES 2022 to promote investment tie-ups in green projects
The summit will be attended by several local and global high-profile participants, including heads of states and governments, as well...
- The summit will be attended by several local and global high-profile participants, including heads of states and governments, as well as prominent global speakers
- The UAE is the first country to develop the Green Key Performance Indicators focusing on three dimensions - environmental, economic and social - of sustainable development
Geostrategy
After six months of war, what’s next for Ukraine?
Russian President Vladimir Putin announces on February 24, 2022 a "special military operation" to protect the Russian-speaking self-declared separatist republics...
- Kyiv and Moscow on July 22 sign a UN-Turkey mediated deal in Istanbul to resume grain exports in a bid to relieve a global food crisis
- On August 5, Russia and Ukraine accuse each other of shelling the Zaporizhzhia nuclear power plant in southern Ukraine that is under Russian military control
Economy
China slashes lending rates to spur economic growth
Battered by the government’s zero-Covid policy and a slump in the property market, China’s central bank cut benchmark loan rates...
- Analysts had been expecting cuts to the LPR rates, but said they may not be enough to rescue the property sector
- China's economic growth came in at just 0.4 percent on-year in the second quarter -- its slowest rate since the Covid crisis began in 2020
Economy
Most Asian markets down as traders eye key Powell speech
All eyes are on a symposium in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that...
- The optimism has slowly been eroded in recent weeks as Fed officials have warned that the battle against inflation was far from won
- Jonathan Millar of Barclays said it was unlikely Powell would signal a slowdown in rate hikes this week.
Economy
King Abdullah calls for speeding up of food security plan
The king has called on the Jordanian government to speed up the implementation of the national plan for sustainable agriculture...
- The king lay emphasis on the importance of continuous outreach to Jordanians across the kingdom, to update them on agricultural projects
- Prime Minister Khasawneh said the higher council for food security, whose bylaw was recently endorsed, will have an important executive role
UAE investments in Egypt rise by 169% in 6 months
In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about...
- In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion
- The value of remittances from Egyptians working in the UAE rose by 1.4 percent, reaching US$3.5 billion during the 2020-2021 fiscal year
Business
Dubai Media Inc affiliated to Dubai Media Council
In his capacity as the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has...
- Sheikh Mohammed issued a decree appointing Sheikh Hasher bin Maktoum bin Juma Al Maktoum as Chairman of DMI.
- DMI has a strategy will leverage the expertise of a young and talented Emirati workforce to make the leap in delivering quality media content
Geostrategy
UAE Ambassador to Iran will soon resumes duties
In line with UAE efforts to strengthen relations with the Islamic Republic of Iran, the Ministry of Foreign Affairs and...
- The decision to appoint an envoy to Iran comes as part of a previous decision to increase diplomatic representation to the rank of ambassador
- The ambassador would contribute to advance bilateral relations between UAE and Iran
Business
Saudi business tax payers asked to submit July declaration
The Zakat, Tax and Customs Authority has called on taxpayers from the business sector subject to value added tax (VAT)...
- The Authority has urged business sector taxpayers to promptly submit their tax declaration in order to avoid a penalty.
- Penalty will be charged at a minimum of 5 percent and a maximum of 25 percent of the tax value which the taxpayer had to declare.
Business
Cross-currency payments face challenges
Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they...
- Cross-border payments are not always hugely inclusive to individuals, according to ManagedLEI, a Registration Agent of Legal Entity Identifiers.
- In countries where access to a bank account is low, for example, not everyone will be able to make cross-border transactions.
Putin expects Türkiye’s Erdogan to attend BRICS summit in Russia
Russian President Vladimir Putin said Wednesday he expected his Turkish counterpart Recep Tayyip Erdogan to attend a BRICS summit in...
Company News
Nissan Q1 net profit $750m
Business
Latest News
Oil industry is an integral part of climate solutions, says COP28 head
President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
Geostrategy
Bahrain’s Treasury Bills oversubscribed by 270 percent
MANAMA, BAHRAIN – This week’s US$186 million (BD 70 million) issue of Government Treasury Bills has been oversubscribed by 270...
Economy
Most Read
Business
Saudi Arabia issues 162 licenses to companies relocating hqrs to the Kingdom
Riyadh, Saudi Arabia - Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters...
- The headquarters will operate in strict accordance with Saudi laws, providing crucial support, management, and strategic direction to their branches
- The Ministry of Investment has enacted a mechanism to offer premium residency status to executives working within these regional headquarters
Oil-reliant Saudi revises budget, projects deficit
The Gulf kingdom, the world's biggest crude exporter, had planned for a surplus of 16 billion Saudi riyals ($4.27 billion)...
- Oil revenue this year has fallen by 17 percent as prices have dipped and Riyadh has cut production in a bid to boost them
- Daily output is currently nine million barrels per day, down two million barrels from this time last year
Economy
‘Cooperation key in establishing global work agenda’
"The Summit acts as a nexus, uniting government officials, international organizations, business magnates, community institutions, scholars, and innovators. This collective...
- The World Governments Summit Organization emphasizes global dialogue and partnerships
- The Summit acts as a nexus for government officials, scholars, and innovators, says a UAE official