UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking
The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy
Geostrategy
Saudi-Italian space agencies ink pact on cooperation
The Saudi Space Commission and the Italian Space Agency sign a memorandum of understanding for enhancing cooperation in the field...
- Saudi Space Commission, Italian Space Agency sign an MoU to enhance cooperation in space-related activities for peaceful purpose
- Federation of Saudi Chambers and General Confederation of Italian Industry ink an MoU to establish a joint Italian-Saudi business council
Business
Qatari private exports value surge by 46 percent in Q1 2022
Qatar Chamber (QC) said in its quarterly report that the export value of private sector in Q1 2022 hiked to...
- During Q1 2022, Asian countries (except GCC and Arab countries) received 50.4 percent of total exports valued QAR 3.89 billion.
- India was the top business partner receiving exports valued around QAR 1.79 billion representing 32.2 percent of total exports.
Infographics
MENA nations make some ‘genuine progress’
Several MENA countries have fared well on all three domains of the Genuine Progress Indicator, which has been hailed as...
- The GPI nets the positive and negative results of economic growth to examine whether or not it has benefited people overall.
- GPI incorporates environmental and social factors which are not measured by GDP.
Economy
UAE’s Ministry of Energy and Infrastructure wins DACA Awards
The UAE Ministry of Energy and Infrastructure received the 'Sustainability Leader in Shipping' award and a 'Decarbonization Champion in Power...
- The UAE Ministry of Energy and Infrastructure was received the Sustainability Leader in Shipping award
- The ministry also got a Decarbonization Champion in Power Sector award during the Decarbonization and Climate Action Awards
Economy
8 conciliators in economic disputes sworn in at Abu Dhabi
Eight members of the first batch of conciliators in economic disputes and consumer complaints were sworn in at Abu Dhabi....
- The first batch of 8 conciliators in economic disputes and consumer complaints were sworn in
- The conciliators will begin their duties in the Abu Dhabi Department of Economic Development
Alpha Dhabi’s ‘W Solar’ to invest in Libya renewable energy
The company, a subsidiary of Alpha Dhabi Holding, signed an MoU with the General Electricity Company of Libya.
- The company, a subsidiary of Alpha Dhabi Holding, signed an MoU with the General Electricity Company of Libya
- By 2030, Libya aims for 22 percent of electricity generation to come from renewable energy
Economy
Markets extend rally as rate hike fears subside
Asian and European markets rallied again Monday, building on last week's advances and following a strong performance on Wall Street...
- A string of weak data has led many investors to believe that inflation may have plateaued or is about to, giving room for banks to be less hawkish
- While Fed chiefs continue to flag further big interest rate hikes in the pipeline, expectations for a prolonged period of increases have waned
Economy
Britain offers £50.2m grant to Jordan to expand social net
The grant is part of an £95 million aid package including £65 million for the social protection sector.
- The grant is part of an £95 million aid package including £65 million for the social protection sector
- The aid also helps Jordan take care of the Syrian refugees. a priority for the British side
Business
SVC to invest in Venture Debt Fund
The fund will offer venture debt tools to startups and SMEs.
- SVC CEO Nabeel Koshak said the investment is part of the company's program to invest in funds.
- Koshak said funds offering venture debt tools provide financing solutions for startups, and SMEs, known for their quick growth rates.
Economy
Central banks should not let inflation become a norm: BIS
Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key...
- BIS, known as the central bank of central banks, said they will have to act quickly to return to low and stable inflation.
- After the shock of Covid-19, central banks initially saw the return of inflation as temporary as the economy gained pace.
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
Company News
Latest News
UN Chief to hold meetings with Lavrov, Zelensky, Erdogan to discuss grain deal
New York, UN - The United Nations Secretary General Antonio Guterres will discuss the revival of the grain deal with...
Geostrategy
UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy...
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
Economy
Most Read
Economy
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...
- The consumer price index (CPI), a key inflation gauge, jumped 3.7 percent from a year ago, picking up pace from July's 3.2 percent figure
- The Federal Reserve has lifted the benchmark lending rate rapidly since March last year to tamp down demand and sustainably lower inflation
Business
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...
- The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.
- The report urges financial institutions to foster cooperation by sharing data and pooling resources in their fraud detection efforts.
Economy
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...
- The warning comes a day after oil prices jumped following OPEC's own update
- Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year