MENA’s rising debt: A cause for global concern
MENA's debt-to-GDP ratio surged 23% in 6 years due to pandemic fallout, with only 8 of 19 countries returning to...
Economy
From sand dunes to boardrooms: Strategies for success in challenging times
"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
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.
Sudan lifts state of emergency imposed since coup
Sunday's decision came after a meeting with senior military officials recommending the state of emergency be lifted and people detained...
- Burhan who vowed to free political detainees arrested in the 2021 crackdown has now lifted a state of emergency to set the stage for talks among Sudanese factions
- Military officials of Sudan recommended allowing the live TV unit of Al Jazeera to resume operations which was banned for "unprofessional" coverage of protests
Economy
Kuwait works with World Bank to implement national youth policy
The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of...
- The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of the youth projects
- The partnership has two axes - investment in human resources, and empowering the private sector to drive economic growth and create job opportunities
Economy
Equities make broad rally as China relaxes Covid curbs
Markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some...
- The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course
- May jobs data -- due for release on Friday -- should provide a fresh snapshot of the economy and possibly an idea about the Fed's next policy moves
Economy
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...
- Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
- He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
MENA’s rising debt: A cause for global concern
MENA's debt-to-GDP ratio surged 23% in 6 years due to pandemic fallout, with only 8 of 19 countries returning to...
Economy
Company News
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Arab economies projected to grow 3.4% in 2023: AMF official
The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed...
Economy
UAE creates federal authority for gaming, casino giants flock to country
Dubai, UAE - The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the...
Business
Iran expects cooperation with Turkey to grow in Erdogan’s new term
Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of...
Economy
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Economy
Middle East needs ‘New Deal’ to deliver for its 600 million people: IMF officials
Dubai, UAE - Middle East needs a ‘New Deal’ to deliver for its 600 million people more jobs, better education,...
- MENA countries are urged to move away from state-dominated economic activities, particularly those with high debt burdens and youth unemployment rates
- Governments are advised to improve digital infrastructure, enhance digital literacy, and develop workforce skills to promote digital adoption
Economy
Iraq signs deal with IFC to develop Baghdad International Airport
Baghdad, Iraq--Iraq has signed an agreement with the International Finance Corporation (IFC) - a member of the World Bank Group...
- The agreement, according to the Iraqi PM's office, will provide for the expansion, financing, operation, and maintenance of Baghdad International Airport
- The PM's office further said the agreement is part of a series of deals signed with the private sector to develop critical infrastructure across the country
Geostrategy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
- DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
- The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.