Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
Economy
What led to Sri Lanka’s economic ruin and what lies in store?
Under the rule of the Rajapaksa clan, Sri Lanka moved closer to China and borrowed billions of dollars for vanity...
- Even with help from India and others, in April the country defaulted on its $51-billion foreign debt pile.
- Unofficial inflation rates are second only to those of Zimbabwe, making many goods -- if they can be found -- too expensive for many people to afford.
Videos
Dubai tourism achieves robust growth in 2022
The sector recovered fast in the emirate after the easing of Covid-19 restrictions, registering a 203 percent increase in the...
- The increased flow of tourists helped improve hotel occupancy across the emirate, which reached 76 per cent during the period, the highest globally in Q1.
- Successful handling of the pandemic, a safe environment for travelers and world-class infrastructure have contributed towards the rising tourist inflow.
Economy
Regional projects vital for future, says Jordan’s King Abdullah
King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery the COVID-19 pandemic....
- King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery from the COVID pandemic.
- The vision plans for the coming years by capitalizing on opportunities in the Kingdom, especially amid the impact of the Ukrainian crisis.
Arts & Culture
Reforms crucial to revive pandemic-hit culture sector
The sector also saw a decline of 25 percent of its Gross Value Added in 2020. However, while most of...
- The culture was one of the most seriously impacted sectors globally due to COVID-19 pandemic, with more than 10 million jobs lost in 2020 alone
- Revenues from the digital creative economy totalled US$2.7 billion globally in 2020, over a quarter of the sector’s overall revenue, says a report
Economy
Growth in focus as UAE signs CEPAs with key nations
Since February this year, the Gulf country has inked Comprehensive Economic Partnership Agreements with India, Indonesia and Israel. Trade deal...
- Since February this year, the Gulf country has inked Comprehensive Economic Partnership Agreements with India, Indonesia and Israel.
- This month, the country will sign its fourth CEPA with Colombia and is in negotiations with Turkey and several African and East Asian countries
Economy
Billions rely on wild species for food, fuel, income: UN
Overall, 50,000 species are used for food, energy, medicine, material and other purposes around the world, with more than 10,000...
- Wild plants, algae and fungi provide food and income for one in five people globally, the report said, while some 2.4 billion people rely on wood for cooking.
- Illicit trade in wild species is estimated to be worth between $69 billion and $199 billion a year, the third largest illegal market after human trafficking and drugs.
Geostrategy
UAE takes part in G20 Foreign Ministers’ meeting in Indonesia
UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan takes part in the G20 Foreign...
- The G20 foreign ministers meeting is keen to tackle global challenges to achieve stability and prosperity
- Such meetings help in promoting international cooperation to achieve sustainable development goals
Business
Metaverse is in the making since 90s: Expert
As a multidimensional world extending the physical realities of our current 4D world, it is rather a product of the...
- Metaverse is the product of a several waves of digitization and internet development since the 90s.
- Metaverse will create new opportunities for new services and, in fact, new activities altogether.
Economy
World food prices fell in June but remain very high: FAO
World food prices, including for wheat, fell in June for a third month running despite remaining near an all-time high,...
- Export flow disruptions resulting from Russia's invasion of Ukraine on February 24 and international sanctions on Moscow have sparked fears of a global hunger crisis.
- After a record spike in March due to the war, the FAO food price index -- a measure of the monthly change in international prices of a basket of food commodities --Â fell 2.3%.
Business
Over 4,800 take part in Dubai corporate volunteering program
Over 4,800 employee volunteers participated in Dubai Chamber of Commerce’s 'Give & Gain 2022' initiative. Volunteers dedicated 17,460 hours across...
- Volunteers dedicated 17,460 hours across projects benefitting more than 147,000 individuals
- The month-long event is part of Dubai Chamber of Commerce ENGAGE Dubai corporate volunteering program
Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy
Company News
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Oman annual inflation inches up 0.82 percent in August
Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month...
Economy
UN meet looks to salvage promises on helping world’s poorest
The UN head said the summit will seek a "global rescue plan" on the targets of Sustainable Development Goals, as...
Economy
Surplus in overall balance makes UAE’s economy robust
"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing...
Economy
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Geostrategy
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
- Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
- The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.
Geostrategy
Desperate Sudanese face endless wait for passports so they can flee
A million people have crossed Sudan's borders since April, fleeing the devastating war between the Sudanese army and the paramilitary...
- Since the authorities inaugurated a new passport office in the eastern city of Port Sudan in late August, hundreds of people have lined up all day, every day
- Sudan was already one of the world's poorest countries even before the war broke out, but now it has plunged into a horrific humanitarian crisis
Economy
Iran and Cuba to set up joint ‘technology and innovation’ center
Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...
- The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
- Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements