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...
Asian markets swing as US jobs data disappoint
Market Report
Economy
Arab economies expected to grow by average 5.4 percent in 2022 : AMF
Oil-exporting countries in the Arab World will benefit throughout 2022 from the increased oil production quantities within the "OPEC+" agreement...
- Arab countries are expected to face relatively high inflation rates in 2022 due to a rise in food and energy prices and escalating inflationary pressures.
- The oil-importing Arab countries are expected to achieve a moderate 4.1 percent growth rate in 2022, compared to 2.7 percent in 2021.
Business
‘RAK aims to increase number of hotel rooms in 5 years’
CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA) Raki Phillips said that the emirate’s tourism sector aims to...
- Ras Al Khaimah plans to increase the number of hotel rooms in the emirate over the next five years to 12,747 rooms
- The rooms would be provided by over 50 hotels and resorts that offer the highest levels of service to visitors
Economy
UAE announces new incentives to support emirati SMEs
The new incentives include classifying up to five enterprises under Tier 1 category per owner, instead of two enterprises, and...
- The enterprises that will benefit from the new incentives have to be members of accredited funds and programs that support SMEs in the UAE.
- Empowering SMEs is a strategic priority within the nation’s continuous efforts to develop the business sector in the UAE, said Khalil Al Khoori, an HR official.
Business
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...
- The meeting between DG of Ajman Chamber and Mexican ambassador took place as part of the Chamber's efforts to diversify its external partnerships
- The two sides discussed economic cooperation and explored trade and investment opportunities between the two countries
Economy
Global equities tumble as British inflation hits new 40-year high
Investors remain on edge as central banks hike interest rates to fight runaway inflation, but the monetary policy tightening could...
- US retail sales flatlined at $682.8 billion in July as gasoline prices retreated from record levels while American consumers boosted spending
- The Bank of England warned earlier this month that UK inflation would climb to just above 13 percent this year, which would be the highest level since 1980
Economy
US envoy expects China to ramp up coercion of Taiwan
The US in retaliation will begin formal trade talks with Taiwan by the autumn to show support for the democracy,...
- Taiwan lives under constant threat of an invasion by China, which claims the democratically ruled island as part of its territory to be seized one day
- The US envoy said Washington would respond with "calm, but resolute steps" to keep the Taiwan Strait open and peaceful
Economy
OPEC not responsible for soaring inflation: Secretary-General
“OPEC is not behind this price increase,” said the secretary-general of the the influential group of producers Haitham Al-Ghais. “There...
- Al-Ghais’ comments follow the OPEC’s decision to add only 100,000 barrels per day from next month
- He said the factors behind the spike in gas and oil prices are beyond OPEC and identified underinvestment as the main problem
Economy
US Fed warns of more interest rate cuts to tame inflation
US Fed officials believe it will take some time to bring "unacceptably high" inflation back down near the two percent...
- US policymakers are trying to tread a narrow path and avoid pushing the world's largest economy into recession
- Fed officials are trying to dispel some of that excess optimism, stressing in recent speeches that the central bank is committed to pursuing its battle on inflation
Economy
UAE scores high in 11 best expatriate destination parameters: Survey
The UAE has exceeded international figures in 11 indexes on the best expatriate destinations based on various factors, which include...
- German research firm InterNations said UAE achieved advanced positions in four key pillars and 11 indexes, out of five pillars and 17 indexes.
- About 94 percent of those surveyed felt safe in the UAE while the global rate was under 81 percent.
Economy
High oil prices may push Saudi growth to 7.6 percent in 2022: IMF
The government's Vision 2030 reform programme, designed to reduce the kingdom's dependence on oil, has also given the economy a...
- The kingdom managed to contain inflation at 3.1% in 2021, and the IMF predicted it would remain little changed this year at 2.8%, even as rates soar in much of the developed world.
- The fund said that was largely due to "low passthrough" of the double-digit wholesale price inflation and increasing shipping costs battering the world economy.
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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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Asian markets swing as US jobs data disappoint
Market Report
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...
Business
GCC, Pakistan ink preliminary free trade agreement
RIYADH, SAUDI ARABIA - Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed AlBudaiwi said that preliminary free trade agreement...
Geostrategy
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
Science
Most Read
More than 2,500 migrants dead or missing in Mediterranean in 2023: UN
The land journey from sub-Saharan African countries, where many of the migrants hail from, to departure points on the Tunisian...
- In total, some 186,000 people arrived by sea in southern Europe from January to September 24, landing in Italy, Greece, Spain, Cyprus and Malta
- Between January and August of this year it is estimated that more than 102,000 refugees and migrants tried to cross the Mediterranean from Tunisia and 45,000 from Libya
Lebanese children ‘miss out’ on education as crisis takes toll
Lack of funding for the school system has precipitated repeated teachers' strikes and school closures, resulting in children being increasingly...
- Public sector teachers earn the equivalent of $150 to $300 per month, while the education ministry has sounded the alarm over lack of funding
- At least 15 percent of households have pulled their children out of schools, UNICEF found in a June report, up from 10 percent a year ago
Economy
Saudi Arabia eyes global EV role following Lucid’s plant setup
Riyadh, Saudi Arabia -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...
- “The EV industry is one of 12 strategic industrial sectors covered by the National Industrial Strategy to boost the growth of industry across the Kingdom,” the minister added
- Lucid Group’s choice of Saudi Arabia as the headquarters of its plant in the Middle East reflects the importance of kingdom’s unique geographical location, he added