US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
Economy
Geostrategy
Iraq seeks to enhance global trade relations: official
Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the...
- Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers
- Spanish ambassador Pedro Martinez said his government will support Iraq in all fields, especially in climate change
Economy
Israel signs free trade deal with UAE; its first in GCC, third in Middle East
The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Israel. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister...
- The agreement builds on the strong foundations laid by the Abraham Accords, says UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi
- Talks for a free trade agreement began in November and concluded after four rounds of negotiations
Geostrategy
EU leaders ban most Russian oil, as Moscow advances in Donbas
European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country...
- EU chief Ursula von der Leyen said the ban will effectively cut around 90 percent of oil imports from Russia to the EU by the end of the year
- Participants in Monday's EU summit, however, hatched a compromise deal that exempts deliveries by pipeline from the oil import ban
Economy
GCC, Pakistan launch 3rd round of free trade negotiations
The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan.
- The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan
- Free trade negotiations with Pakistan are part of GCC countries' effort to strengthen cooperation with their international partners
Investigation
Fuel costs, falling pay add to UAE gig workers’ woes
Nothing changes for delivery workers of online food delivery aggregator platforms even as they resume work after protest against low...
- Even as social media was flooded with comments demanding better treatment and fair pay for the riders, nothing changed and they eventually went back to work
- The gig economy is coming under pressure from governments around the world as they look to enact protective policies and regulations, says a food critic and blogger
Infographics
UAE and Qatar top 2021 GCC economies
The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.
- The GCC comprises six countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
- The World Bank has said the economies of the Gulf Cooperation Council (GCC) are projected to expand by 5.9 percent overall in 2022.
Economy
US Central Bank needs to hike interest rates till inflation drops : Governor
The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal...
- The Fed early this month announced the biggest increase in the benchmark interest rate since 2000.
- Markets could tighten by a total of 2.5 percentage points this year, including the 0.75 point of increases.
Economy
Qatar’s Export Unit Value Index surges by 61 percent in Q1
Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent in Q1 2022 compared to Q1 2021. The Planning...
- The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA.
- The addition is as per the policy of PSA in providing accurate statistical information and data that support the decision-maker.
Economy
Qatar government, banks behind its strong economic show: CEOs
The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and...
- The CEOs focused on various issues like environmental and social practices, corporate governance.
- Future prospects of Qatar's economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, said Qatar National Bank CEO.
Business
ADGM invites public feedback on changes to commercial legislation
The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part...
- As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework.
- Rather than attracting a penalty, certain late filings will attract a late filing fee of $150 per month, capped at three months.
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US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
Company News
TAQA to buy SWS Holding
Business
Latest News
QSE unveils new trading system
Business
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
Economy
UAE industrial, business sectors see 4% rise in cumulative credit balance by H1 2023
ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion...
Business
Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
Business
Most Read
Economy
Qatar’s Producer Price Index of industrial sector dips 0.22% in July
Doha, Qatar--Planning and Statistics Authority (PSA) of Qatar has released the new monthly Producer Price Index (PPI) of the Industrial...
- According to data, chemicals and chemical products prices decreased by 1.31 percent, followed by food products which fell by 0.76 percent
- There was a dip in the prices of utilities like electricity, gas, steam, and air conditioning supply by 2.58 percent compared to June 2023
Geostrategy
Turkey to ask Russia to resume grain deal in original form
According to TASS, quoting a diplomatic source, Turkey's Foreign Minister Hakan Fidan will propose to Russia at the upcoming talks...
- The diplomatic sourced quoted by TASS said that Turkey views the grain corridor as the most efficient and safe
- He further said the deal if resumed in original format can prevent the expansion of the Ukranian conflcit into the Black Sea
Economy
CEPA boosts UAE’s trade ties with key global players
“The country's foreign trade will continue to thrive due to these CEPAs. Agreements with Türkiye and Indonesia are slated for...
- CEPA agreements with India and Israel have boosted trade, with new deals involving Türkiye and Indonesia coming in September
- The UAE targets doubling its GDP by emphasizing innovation, advanced technologies, and expanding global service exports in trade