Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...
Economy
Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
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
Geostrategy
Ukraine asks Turkey to detain Russian cargo ship
Ukraine on Friday asked Turkey to detain a Russian-flagged cargo ship that Kyiv alleged had set off from a Kremlin-occupied...
- Kyiv's ambassador to Ankara said the ship had set sail from Ukraine's Kremlin-occupied port of Berdyansk
- The Marinetraffic.com website said the 140-metre general cargo vessel was sailing under the Russian flag
Economy
GCC govts lend roof to residents via interest-free loans
The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are...
- Many GCC countries provide interest-free home loans to their residents to strengthen their family conditions and provide adequate living space
- Loans granted by GCC govts to residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.
Economy
Free trade pact with UAE will help Indonesia, says envoy
The Comprehensive Economic Partnership Agreement (CEPA) signed between Indonesia and the UAE on Friday will bring economic prosperity to a...
- The trade pact is expected to boost imports of petrochemicals from the UAE to Indonesia
- Indonesia imports around two million tonne of petrochemicals annually from the global market
Economy
Abu Dhabi Industrial Strategy to boost growth, says Dr Al Jaber
UAE Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber said the country continues to empower the...
- UAE empowers the industrial sector and increase its competitiveness by leveraging its resources, advantages and capabilities
- The strategy will support national industrial growth, nurture and empower Emirati talent, create a smart circular economy
Economy
‘Industrial sector a key player in Abu Dhabi’s economy’
Industrial sector performs key role in Abu Dhabi’s economy and a new industrial financing entity will soon be established for...
- ADDED chairman says a new industrial financing entity will soon be established for large industries and SMEs
- He said initiatives such as reducing electricity, water and gas tariffs have been launched to attract investments
Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...
Economy
Company News
Latest News
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...
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...
Business
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
Geostrategy
Most Read
US approves most Egypt aid despite rights alarm
Egypt is one of the largest recipients of US military aid, dating to its historic normalization of relations with Israel...
- The $1.215 billion package marks the third straight year that US government has waived some restrictions imposed by Congress on aid to Egypt
- "This decision reflects that Egypt is making a specific and ongoing contribution to US national security priorities," a State Department official said
Economy
People’s Bank of China cuts bank reserve ratio again to aid recovery
Beijing, China - The People's Bank of China (PBOC) on Friday unveiled its decision to trim the reserve requirement ratio...
- The move marks the second significant RRR reduction by the PBOC this year
- Institutions already operating with a 5% RRR are exempted from this change
Analysis
Deals with India add pace to Saudi diversification
Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and...
- Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe
- Trade between Saudi Arabia and India, valued at US$52 billion, and India's rising economic prominence position makes New Delhi a key strategic partner for the Kingdom