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
Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
Economy
Economy
Oil prices fall as Aramco signals plan to raise crude production
Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery...
- Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand
- Crude prices which had gained following Russia’s invasion of Ukraine have declined over the last couple of months on fears of a possible economic recession
Economy
Has blockchain found a use beyond crypto trading?
Blockchain at heart is a ledger, a way of storing transactions that is according to fans secure, transparent and permanent.
- Blockchain at heart is a ledger, a way of storing transactions that is according to fans secure, transparent and permanent
- The blockchain emerged from a 2008 white paper on bitcoin, which was conceived as an alternative to fiat currency
Economy
China cuts rates as economic recovery weaker than expected
The world's second-biggest economy saw a bounce in business activity as some coronavirus restrictions eased in June, but the boost...
- China's industrial production rose 3.8 percent on-year, down from a 3.9 percent jump in June
- Retail sales grew at a slower-than-expected 2.7 percent from a year ago, down from 3.1 percent in June
Economy
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...
- The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
- Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
IGCF 2022 to be held on September 28, 29
The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and...
- The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and around the world
- It will also spotlight the latest tools and methodologies governments can leverage to communicate with the public during unforeseen or unusual circumstances
Economy
World Green Economy Summit in Dubai supports UAE COP28
Since its launch in 2014, the WGES has succeeded in galvanising global efforts to promote the shift towards a green...
- Since its launch in 2014, the WGES has succeeded in galvanising global efforts to promote the shift towards a green economy
- The WGES also plays a key role in supporting the UAE’s outstanding climate action efforts and its commitment to sustainability
Economy
Egypt to issue international bonds worth $6 billion
More than a year after it issued bonds for the Japanese market, Egypt intends to issue another tranche of international...
- Egypt offered $500 million worth international bonds for the first time denominated in the yen in the Japanese market
- Egypt plans to obtain external financing by about $7.62 billion, which means an increase in the volume of external financing by about 87 percent over last year
Business
Sanction partners: Iran’s top automaker eyes Russian market
Russia has come under increasingly tough sanctions since its February invasion of Ukraine, while Iran has faced stringent sanctions reimposed...
- The two countries have responded to the sanctions by boosting cooperation in key areas to help prop up their economies.
- "We are going to pay special attention to the Russian market, and we are also thinking of partnering with Russian investors," said Iran Khodro CEO Mehdi Khatibi.
Economy
In Dubai 305m riders use public transport in H1 2022
Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport and shared mobility clocked nearly...
- The number of riders using public transport was 36 percent for Dubai Metro and 29 percent for taxis
- March 2022 was the busiest of all months recording 62 million riders
Economy
Electronic payments overtake cash in Saudi Arabia in 2021
The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62...
- The Saudi Central Bank said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent by volume in 2021
- In the business sector, the share of electronic payments reached a substantial 84 percent of all payments in 2021
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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
Company News
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Saudi Arabia raises the bar, says 100m tourist goal inadequate
Riyadh, Saudi Arabia - Saudi Arabia has announced its intention to revise its tourism goals, increasing the target number of...
Economy
Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant
Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...
Business
Markets mostly up but US rate outlook feeds uncertainty
With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers...
Business
Most Read
Police hold boss of troubled developer China Evergrande: report
Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according...
- Evergrande stocks in Hong Kong fell precipitously on Wednesday afternoon following a moderate rise in morning trading, closing the day 19 percent down
- Chinese property developer Evergrande's enormous debt has contributed to the country's deepening property sector crisis, raising fears of a global spillover
Economy
Israel makes progress on water-for-energy pact with Jordan and UAE
Dubai, UAE - Israel's energy minister and the CEO of the UAE's renewable energy firm, Masdar, have met to advance...
- Jordan will provide solar energy generated from a UAE-funded facility to Israel and in return, Jordan will receive desalinated water from Israel
- The goal of the agreement is to address Jordan's pressing need for water while helping Israel diversify its clean energy sources
Economy
World Bank chief vows to tackle ‘dysfunctionality’ at development lender
The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its...
- Banga has previously called on World Bank to collaborate more closely with the private sector to meet the enormous costs associated with climate change mitigation and adaption
- On Tuesday, Banga said the bank should carefully target where it wants to encourage private investment to help cap carbon emissions in order to have the biggest impact