The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts. In a recent interview on CNBC, Kashkari, who serves...
Economy
India, Iran sign 10-year agreement to develop port project
Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...
Economy
Economy
France to proceed with second phase of digital euro experiment : Central Bank
France's central bank said Tuesday it will push ahead with the second phase of its experiment with a digital euro...
- Last year, the Banque de France successfully completed the first stage of its experiment with a central bank digital currency.
- The experiment is aimed at rolling out the cryptocurrency next year.
Economy
Euro strikes parity with Dollar for first time in nearly 20 years
The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in...
- Oil prices meanwhile fell heavily on concerns of a wider recession as central banks hike interest rates to fight decades-high inflation.
- European stock markets fell approaching the half-way mark and in the wake of overnight losses in Asia and on Wall Street.
Geostrategy
For some Iraqi Kurds, Europe is a destination well worth the risk
Iraqi Kurd Haresh Talib says he struggles to get paid and his children's schooling is disrupted in his conflict-riddled country,...
- In November, at least 27 migrants, most of them Iraqi Kurds, drowned in attempt to cross English Channel from France to Britain
- Two out of three households in Iraqi Kurdistan rely on a government salary or pension, but payments are chronically late
Economy
Dubai to host World Corporate Summit in November
Dubai will host the first edition of the World Corporate Summit which will discuss sports and multi-sectoral business growth as...
- The summit will be attended by decision-makers from multinational corporations, UAE-based firms and government institutions
- The WCS will exchange insights, explore collaborative partnerships and opportunities for business growth
Economy
EU braces for migrants spurred by food crisis
The EU must brace for new waves of migrants forced to uproot because of the food crisis aggravated by the...
- Around 20 million tons of grain from last year's harvest are blocked in Ukrainian ports on the Black Sea
- The situation has sent prices for certain foods and cooking oils soaring on world markets, with parts of Africa and the Middle East bearing the brunt
Economy
Egypt invests $1.5bn to improve energy efficiency in petroleum projects
Egyptian energy sector has implemented low-cost measures to improve energy efficiency in 31 petroleum companies.
- Egyptian energy sector has implemented low-cost measures to improve energy efficiency in 31 petroleum companies
- Five energy efficiency technical reviews are being implemented, in cooperation with the European Union and other major global oil companies
Economy
US to nudge Israel into making concessions to Palestinians
Ahead of Joe Biden's first visit to Jerusalem as US president, Washington's ambassador said his team will "pound tables" to...
- Biden's first Middle East tour since entering the White House last year begins in Israel on Wednesday, and he is expected to meet Palestinian president Mahmud Abbas
- US-Palestinian ties have improved under Biden, after hitting an all-time low under his predecessor Donald Trump, a staunch backer of the Israelis
Geostrategy
Biden seeks to persuade Saudi Arabia to pump more oil as prices soar
Saudi Arabia's oil-driven economy expanded by 9.6 percent in the first quarter, its strongest growth rate in a decade.
- Saudi Arabia's oil-driven economy expanded by 9.6 percent in the first quarter, its strongest growth rate in a decade
- Last month, OPEC+ stuck to a previously agreed output hike, shrugging off calls for bigger increases to tame elevated prices
Economy
UAE minister discusses CEPA, investments with local companies
Minister of Economy and Chairman of the UAE International Investors Council Abdullah bin Touq Al Marri said, in a meeting,...
- UAE International Investors Council has set up a platform to protect the interest of Emirati companies and investments abroad
- UAEIIC meeting discussed the advantages offered by the comprehensive economic partnership agreements signed with India, Israel and Indonesia
Economy
No need to change exchange rate of dinar against US dollar: Iraq
The Central Bank of Iraq said Sunday that there is no reason for changing the exchange rate of the Iraqi...
- Economic conditions will determine the appropriate decision on exchange rate, official of the Iraqi central bank said
- The official said that changing the exchange rate remains within the monetary authority's policy
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The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts. In a recent interview on CNBC, Kashkari, who serves...
Economy
Company News
Latest News
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...
Business
IMF to exhort China to shift growth model toward consumption
Washington, US--The International Monetary Fund plans to tell China to boost weak domestic consumption, address its troubled real estate sector,...
Economy
Aid groups warn of outbreak of disease in Libya after floods
Several aid organizations have warned of the outbreak of disease in the port city of Derna, after Sunday's flood submerged...
Economy
Most Read
Economy
IMF criticizes Lebanon for failure to adopt reforms
The International Monetary Fund renewed its criticism of Lebanon for failing to enact reforms demanded by creditors in return for...
- In April 2022, Lebanon and the IMF reached conditional agreement on a $3-billion-dollar loan package to bail out the economy.
- But politicians have yet to enact the painful reforms demanded to begin the 46-month financing program.
Business
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...
- A total of 549 plots were sold for US$1.1 billion, while 1,780 apartments and villas were purchased for $1.07 billion.
- A plot in Marsa Dubai sold for US$169 million while a plot sold for US$49 million in Business Bay.
Business
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
- The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
- The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.