Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
Economy
Economy
Over 20K investor accounts join DFM in first 7 months of 2022
Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022. The market...
- Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022
- The market witnessed significant momentum since the announcement of the listing of 10 governmental and semi-governmental firms
Business
Algeria eyeing entry into Russia-linked BRICS group
Algerian President Abdelmadjid Tebboune has suggested that his country, Africa's largest natural gas exporter, could join the BRICS economic group...
- Tebboune's comment of joining BRICS came after Russian President called on BRICS leaders to move towards "formation of a multipolar system of inter-government relations"
- The President participated in a BRICS virtual summit at the end of June, when Putin called on leaders of the group to cooperate in the face of "selfish actions" from the West
Geostrategy
US envoy pushes Lebanon-Israel talks over maritime dispute
US envoy Amos Hochstein arrived in Beirut Sunday to push talks to resolve a bitter maritime border dispute between Lebanon...
- Hochstein met with Lebanon's Energy Minister Walid Fayad on Sunday, and is scheduled to meet with President Michel Aoun and prime minister Najib Mikati the following day
- The maritime border dispute between Lebanon and Israel escalated in early June, after Israel moved a production vessel to the Karish offshore field, partly claimed by Lebanon
Economy
Qatar launches ‘Qatar Host’ tourism training programme
The initiative is part of the Service Excellence Programme, which builds on Qatar Tourism’s strategy, to enhance the visitor experience...
- The initiative is part of the Service Excellence Programme, which builds on Qatar Tourism’s strategy, to enhance the visitor experience at every touchpoint along their journey
- The programme involves a multi-pronged approach to ensure a seamless customer journey. In collaboration with stakeholders
Economy
Jordan draws up public sector modernization plan
Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap.
- Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap
- Prime Minister Khasawneh said that the roadmap identified seven pillars as top priorities for improvement and modernisation of public services
Economy
Libya oil production returns to pre-blockade levels: official
Libya's oil production has returned to the volume recorded before a months-long blockade that paralysed the economy, official sources said...
- Oil production fell to around 400,000 barrels of crude per day during the mid-April to mid-July blockade
- On July 15, Libya's new oil chief lifted force majeure at all the country's oil fields and export terminals
Geostrategy
First grain cargo ship could leave Ukraine port Monday, says Turkey
A spokesman for the Turkish presidency said there was a "high probability" that a first ship carrying Ukrainian grain could...
- The resumption of exports was discussed in talks between the Turkish and Ukrainian defense ministers
- A Joint Coordination Centre is charged with controlling Ukrainian grain exports via the Black Sea
Geostrategy
Saudi Arabia, Poland sign agreement on air transport
Saudi General Authority of Civil Aviation (GACA) signed a Memorandum of Understanding (MOU) with Poland to organize the operational framework...
- From the Saudi side, Ali Rajab, Executive Vice President at GACA -Economic Policies & International Cooperation signed the MoU
- From the Polish side, Piotr Samson, President of the Polish Civil Aviation Authority inked the pact in Warsaw
Economy
Saudi Arabia GDP climbs nearly 12% in Q2 on oil price hike
Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year, according...
- Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year
- The Middle East's largest economy has benefited from a spike in oil prices triggered by Russia's invasion of Ukraine
Arts & Culture
Sheikh Hamdan bin Zayed issues directives for ADIHEX 2022
Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club (EFC),...
- Chairman of the Emirates Falconers’ Club has issued directives for development of the strategy of Abu Dhabi International Hunting and Equestrian Exhibition
- The development of ADIHEX strategy is to enhance its role in preserving UAE's cultural heritage, protecting the environment and promoting sustainable hunting
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
Company News
QIB posts 7.7% profit rise
Business
Latest News
Saudi Arabia launches new TV channel to highlight ‘rapid progress’
Riyadh, Saudi Arabia-- Saudi Broadcasting Authority (SBA) has launched a new TV channel called Saudia Alaan (Saudi Now) to highlight...
Geostrategy
ADX inks pact with Expo Center Sharjah to boost financial services
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance...
Business
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
Most Read
Business
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
- The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
- The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Business
Evergrande shares sink after restructuring plan scrapped
Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...
- The company collapsed more than 25 percent by the break, underscoring market concerns as China's property sector faces an unprecedented crisis
- On Sunday evening, Evergrande announced that it was unable to issue new debt as its subsidiary, Hengda Real Estate Group, "is being investigated"