Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
Economy
China’s Xi promises US$50 billion for Africa over next three years
China, the world's number two economy, is Africa's largest trading partner
Business
Business
Dubai Airports win Gold Stevie Award for Great Employers 2022
Dubai Airports has been named the winner of a Gold Stevie Award in the Most Innovative Workplace Redesign During COVID-19...
- Dubai Airports wins Gold Stevie Award for initiatives during the pandemic to protect the health and wellbeing of employees, customers and guests.
- This included the redesign of the Dubai Airports workplace with the installation of onsite testing and vaccination facilities.
Economy
Saudi youth programs aim at raising manpower in economics, public policy
Saudi Arabia has launched new youth programs aimed at raising the number of qualified manpower in the field of economics,...
- The programs seek to reduce the gap between the skills required in the field of economy and the requirements of the labor market.
- This initiative included the launch of the "Scholarship Advantages" program for students who have been accepted for scholarships in economics, public policy and social sciences.
Economy
Abu Dhabi non-oil foreign trade $33.75 billion in first half of 2022
The value of the trade-in commodities from normal metals and their products increased to AED24.51 billion, with a growth rate...
- Exports during the first six months of this year increased to 26 percent, at a value of AED49 billion and 479 million, compared to AED39.19 billion in 2021.
- The trade with Saudi Arabia was the highest at AED28.63 billion, with a growth rate of three percent compared to AED27.90 billion recorded during the same period in 2021.
Economy
Ajman Chamber urges members to diversify investments
The ACCI witnessed the signing of a strategic partnership agreement to supply rosewater between Lavish Perfumes with Lecheq Farm Distillery...
- The Ajman Chamber of Commerce and Industry wants members to increase the volume of intra-trade.
- The Chamber also wants members to strengthen international relations between business owners in Ajman and their outside counterparts
Economy
Foreign exchange reserves up at $82bn, says Iraq’s Central Bank
Central Bank of Iraq announced that foreign exchange reserves rose to US$82 billion, while gold reserves exceeded 130 tons.
- Iraq's Central Bank says that its gold reserves exceed 130 tons
- Among the countries with the most gold, Iraq has now reached 30 position
Business
‘Hero’ Lebanon hostage-taker turns self in after bank drama
The incident was the latest involving local banks and angry depositors unable to access savings that have been locked in...
- Official media said the suspect turned himself in when the bank agreed to give him $30,000 out of his more than $200,000 in trapped savings
- Inflation is rampant in Lebanon, electricity is scarce and, according to the United Nations, around 80 percent of Lebanese live in poverty
Economy
FIFA officially advances World Cup by a day for Qatar
Football's top officials universally approved the decision, FIFA said in a statement while Qatar said it would give unspecified help...
- Under the new plan, the Group A game between Senegal and the Netherlands has been shifted from 1:00pm (1000 GMT) on November 21 to a 7:00pm start
- Official countdown clocks for the event were quickly changed. and the 100 day countdown to the opening match will now start on Friday, instead of Saturday
Economy
Worst drought in 4 decades parches Morocco’s farmland
No longer having access to potable running water, the villagers of Ouled Essi Masseoud rely solely on sporadic supplies in...
- Nationally, dams are filling at a rate of only 27 percent, precipitated by the country's worst drought in at least four decades
- Al Massira reservoir has been reduced to little more than a pond bordered by kilometres of cracked earth
Economy
Iraq to provide Lebanon with fuel for another year: PM Mikati
Iraq has agreed to renew a one-year deal to provide Lebanon with fuel for its power plants in exchange for...
- For the past year, Lebanon's power plants have depended on the deal with Iraq to produce one to two hours of electricity per day.
- Residents in the poverty-stricken country largely rely on expensive private generators for power the rest of the time.
Economy
Ma’aden H1 net profit at $1.6bn
H1 2022 net profit increased by 232 percent
- H1 2022 EBITDA increased by 128 percent, compared with the same period in the prior year, to $ 3billion.
- Q2 2022 EBITDA increased to $1.8 billion reflecting robust sales performance.
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
Economy
Company News
FAB H1 2023 net profit $2.2bn
Business
Volvo Cars Q2 net profit $342m
Business
Latest News
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
First migrants in a week land on Italy’s Lampedusa
Bad weather over the past week had prevented those fleeing North Africa to venture the risky Mediterranean crossing. The earlier...
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...
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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
Geostrategy
China wants to be world’s strongest nation, says Blinken
WASHINGTON, US - China is seeking to surpass the United States as the top power in the world, US Secretary of...
- Asked at a forum about China's intentions, Blinken said, "I think that what it seeks is to be the dominant power in the world -- militarily, economically, diplomatically".
- President Joe Biden's administration, while saying it is clear-eyed on China and stepping up pressure, has also been increasing dialogue in hopes of managing tensions.
Business
UAE, Egypt central banks ink currency swap deal
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday...
- The CBUAE is keen to deepen its cooperation with the CBE to positively impact the trade and investment, said the Governor of UAE’s central bank.
- This step will bolster cooperation between the financial sectors in both the currencies, said the Governor of Egypt’s central bank.