Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
Business
Scarce French rainfall adds new cloud to global food market
World food prices hit an all-time high in March following Russia's invasion of Ukraine, which accounted for 20 percent of...
- France is Europe's agricultural powerhouse, the biggest grain producer in the 27-country bloc
- The national weather service said France was in the grip of a hot spell with 20% less rainfall reported
Economy
Lebanon jobless rate almost triples since crippling economic crisis
The official unemployment rate in crisis-hit Lebanon jumped almost three-fold to reach 29.6 percent at the start of the year,...
- After years of corrupt practices and financial mismanagement, Lebanon's economy collapsed two years ago, stripping the national currency of 95 percent of its value.
- The issue of unemployment has not featured prominently in the campaigns led by the main parties fielding candidates in Sunday's parliamentary election.
Economy
How will Lebanon vote impact the crisis-hit economy?
Here’s a look at the challenges that await incoming lawmakers in a country where there is little consensus on a...
- Starved of hydrocarbons, Lebanon’s power stations have scaled down operations to a near minimum
- Power cuts can last up to 23 hours a day, forcing residents to rely on expensive private generators
Geostrategy
Syrian refugees in Turkey: Political tool in crisis times
With the lira's value tumbles to historic lows and annual inflation runs at nearly 70 percent, the refugee question regularly...
- Political parties in Turkey spar over sending 3.7 million Syrian refugees back to their war-torn homeland while the refugees have no appetite to return
- Majority of the Syrian refugees have settled in Turkish society since 2012, and only 1 percent live in the shelter camps built for those who escaped civil war
Economy
UK gives visa waiver to Saudi Arabia, Bahrain
The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining...
- The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining a visa provided they complete an online waiver for each visit
- UK Home Secretary Priti Patel said that the visa waiver for Bahrain and Saudi Arabia will better connect the people of our countries and boost economic prosperity
Economy
Oman-India Joint Commission to discuss Free Trade Agreement with GCC
A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and...
- A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and Industry and the Oman Chamber will be held Friday
- At this meeting, ministers from both sides will interact with the business communities, the Indian Ministry of Commerce and Industry said
Economy
US nears 1m Covid dead, as New York seeks to move on
America recorded its first coronavirus death, on the West Coast, in early February 2020. By the next month, the virus...
- The US has recorded a rise in the number of daily virus cases in recent weeks due to the new Omicron subvariant and the lifting of mask mandates
- Ideological clashes in public over curfews, mask mandate, and vaccine mandates resulted in the country hitting the highest death toll in the world
Geostrategy
Russia slaps sanctions on Western energy firms
The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the affected companies.
- The sanctions target 31 companies, most belonging to the Gazprom Germania group of subsidiaries of Gazprom
- The sanctions also affect Poland's EuRoPol GAZ SA, the owner of the Polish part of the Yamal-Europe gas pipeline
Economy
Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion
Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
- Exports grew by 35 percent in the first three months of the year compared to the same period of last year to reach AED24.449 billion.
- Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Economy
US inflation may have peaked, but pain continues
With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday that fighting inflation is...
- Biden blame Russian invasion on Ukraine for the recent spike in price in US saying that "taking inflation very seriously"
- US consumer prices jumped 8.5% in the 12 months that ended in March, rate is likely to remain high for months to come
Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
Business
Company News
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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...
Geostrategy
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...
Economy
565 companies involved in ‘fake Emiratisation’ cases: UAE ministry
Dubai, UAE - The Ministry of Human Resources and Emiratisation (MoHRE) revealed that 565 companies were proven to have hired...
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Business
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
- Imports increased to AED 693 billion, up 17.5 percent compared to the first half of 2022 and 2.6 percent more than the second half of 2022.
- China has retained its position as the UAE’s leading global trading partner, followed by India, the US and Saudi Arabia.
Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
- A separate report revealed consumer confidence falling owing to concerns about jobs, higher rates and lingering inflation.
- The readings come ahead of the release of the Fed's preferred gauge of inflation -- the personal consumption expenditures price index --Â this week.
Economy
Iran’s mineral reserves valued at over $15bn, says official
Tehran, Iran - Iran's in-situ and proven mineral reserves are now worth more than $15 billion, the director general of...
- The reserves encompass six different minerals comprising iron ore, lead and zinc, gold, copper, antimony, and coal
- Discoveries include 100 million tons of iron ore concentrate, 79 million tons of gold concentrate, and 1.32 billion tons of copper concentrate