Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...
Economy
Stablecoins and DeFi drive crypto market’s renewed growth: report
The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a...
Economy
Economy
Jordan’s exports to Canada went up by 22 percent since 1997
During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent, from US$885,000...
- During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent
- Jordan and Canada have signed free trade, labor, double taxation, environment and investment agreements
Geostrategy
Iran says Turkish offensive in Syria can destabilize region
Iran's foreign minister warned Saturday on a visit to Damascus that Turkish military action in Syria would destabilize the region,...
- Iran is a major ally of Syrian President Bashar al-Assad and an important trading partner for Turkey
- In recent weeks, Erdogan has said he plans to launch a military offensive against Kurdish fighters in Syria Ankara regards as "terrorists"
Economy
MENA eyes key role in making world carbon neutral
UAE and KSA are spearheading decarbonization efforts in Middle East by encouraging enterprises to minimize carbon footprint. Here are a...
- Since MENA countries are a significant global green hydrogen supply source, they may help other nations outside the region reach their carbon-neutral targets
- Trading carbon credits could cut the cost of implementing national contributions to combat climate change by more than half – up to US$250 billion by 2030
Analysis
Apex banks must act as severe stagflation hits markets
Persistently high food inflation will continue to erode households spending power, reducing discretionary spending, and contributing to the stagnation of...
- Surging food prices are a significant contributor to high headline inflation in many countries, including most major advanced economies
- Persistently high food inflation will continue to erode households spending power, reducing discretionary spending, and hurt global GDP
Market Report
Saudi and UAE stock markets end the week lower
The Saudi and UAE stock markets ended the week lower as concerns about slowing global economic growth impacted investor sentiment....
- Saudi and UAE stock markets ended the week lower, following Asian markets
- Concerns about slowing global economic growth impacted investor sentiment
Economy
Tunisia seeks aid package as IMF team set to arrive
The International Monetary Fund is sending a team to Tunisia next week to begin formal talks on a new financial...
- Tunisia is seeking a two-billion-euro loan, according to a source with knowledge of the preliminary talks.
- IMF said 'ready to begin the formal negotiations' but the Tunisian leaders need to implement "ambitious reforms" to deal with the crisis
Economy
Turkey raises minimum wage as inflation spirals out of control
Turkey on Friday substantially raised the minimum wage for the second time in a year to cushion the blow from...
- Turkish currency has lost half its value against the dollar in the past 12 months, which has fueled price rises on imported goods
- Economists warn that substantially raising the pay of a large swathe of the population in Turkey is an inflationary measure
Economy
UAE-Indonesia CEPA to launch new era of strategic cooperation: Emirati ministers
The CEPA with Indonesia is the third of its kind to be signed by the UAE since the year started,...
- The CEPA with Indonesia is the third of its kind to be signed by the UAE since the year started, following the ones signed with India and Israel in February and May, respectively
- The agreement aims to enhance the bilateral trade between the two countries and raise its total value from around US$3 billion in 2021 to US$10 billion annually within five years
Economy
Taliban, US talk on quake aid, foreign reserves in Doha
Talks between the United States and the Taliban continued in Doha earlier this week to discuss earthquake aid, the State...
- The Taliban is seeking a way to unlock some of the country's foreign reserves -- currently frozen by the United States
- During the meetings Wednesday and Thursday, the United States reiterated an earlier pledge of $55 million in new assistance for earthquake relief
Economy
Widows in Jordan battle livelihood, mental health issues
The number of breadwinning widows in the kingdom is around 30,000, according to the official data.
- The number of breadwinning widows in the kingdom is around 30,000, according to the official data
- The Department of Statistics estimates that around 8 percent of widows were jobless in 2021
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Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...
Economy
Company News
Latest News
Inflation surges in US for second successive month
Washington, United States - Consumer inflation in the United States picked up in August for a second straight month, according to...
Economy
Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
Business
Saudi and Russian oil cuts to cause big supply shortfall: IEA
The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
Economy
Most Read
Economy
UAE and Germany hold workshop on hydrogen strategies, carbon markets
Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was...
- The UAE's Ministry of Energy and Infrastructure (MoEI) and Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK) organized the workshop
- During the presentation, the UAE gave a peek into its carbon trading outlook and voluntary carbon markets, as well as showcasing the design of its carbon market
Economy
Ajman records US$1.01 billion in construction contracts in H1 2023
Ajman, UAE-- The value of construction contracts in the emirate has exceeded $1.01 billion during the first half of 2023,...
- The department said the contracts' value rose from the last two years, noting that in 2021 it was $517 million, and in 2022 it reached $571 million
- The emirate provides conducive environment for investment projects, and attracts tourists and visitors from both inside and outside the country
Economy
UAE’s financial wealth to reach $1.3trn by 2027
Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth...
- The equities and investment funds in the UAE continue to make up the largest asset class at 58% of total personal wealth in 2022
- A sizeable portion of the UAE's financial wealth, approximately 25%, originated from UHNW individuals worth more than $100 million