Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
Economy
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
Geostrategy
Interview
Israel stock exchange eyes GCC investors
In an exclusive interview, Tel Aviv Stock Exchange CEO Ittai Ben-Zeev speaks on his strategy to attract investors from the...
- The UAE is key to the relatively small but growing Israeli bourse’s new strategy of “going east” to globalize its foreign investment pool
- Tel Aviv Stock Exchange has traditionally been heavily oriented towards the US, but is now looking to expand to the GCC and the rest of the world
Economy
Jordan reduces entry fees at tourist sites for Arab visitors
The tourism ministry will treat Arab tourists as Jordanians to spur tourism.
- The tourism ministry will treat Arab tourists as Jordanians to spur tourism
- The decision would remain in force through 2022 to strengthen Jordan's position as a tourist destination
Economy
Brent oil breaks $110 a barrel, WTI up 5% on Ukraine conflict
Brent crude broke above $110 a barrel on Wednesday and WTI was up more than five percent as Russia's invasion...
- Brent climbed 4.88 percent to $110.09, while WTI was up 5.06 percent at 108.64
- The conflict in eastern Europe came as prices were already soaring owing to tight supplies
Opinion
Cryptocurrencies: Proof-of-work spared for now
Due to growing environmental consequences, even though proof-of-work was spared in the EU for now, it is simply too fragile...
- The European Union was on Tuesday supposed to vote on a bill named MiCA intended to regulate crypto in the EU.
- The Ukrainian government is arguably one of the first governments to ask for donations in cryptocurrencies.
Business
Service fees of real estate owners, investors reduced in UAE
The UAE's Department of Municipalities and Transport (DMT) said that service fees for real estate units’ owners and investors in...
- In 2020, the service charges were reduced by 18.1 percent, with another 8.3 percent reduction introduced in 2021.
- DMT introduced a comprehensive mechanism to monitor and regulate residential units' service charges in 2020.
Business
Qatar Airways hits out at Airbus as new jet grounded in paint dispute
Qatar Airways has secured an injunction preventing Airbus from cancelling deals for other jets as the two are involved in...
- The airline has now grounded 22 of its 53 A350 jets since November 2020, and said it will move ahead with legal action.
- In retaliation, Airbus has in turn sought to cancel orders made by Qatar Airways for two other A350 jets and 50 A321neo planes.
Business
Shell to sell stakes In Gazprom
Action followed after Russia's invasion of Ukraine.
- The announcement came after UK Foreign Secretary Liz Truss said more than 3 million Russian companies would be unable to access funding from London-based financial institutions
- European football's governing body UEFA also ended its estimated 40-million-euro sponsorship deal with Gazprom
Economy
Region needs tourism to beat inflation
Despite the global closures and economic crisis, the tourism sector in the Gulf region fared well in 2021 due to...
- Despite global closures and the economic crisis, the tourism business thrived in 2021
- The sector is likely to rebound in 2022 after faltering due to lifting travel restrictions
Geostrategy
US expels 12 Russian UN staff for ‘espionage activities’
The announcement of the expulsion came on the last day of Russia's presidency of the UN Security Council and it...
- The US deputy ambassador to the UN said the 12 members of Russia's UN mission had engaged in non-diplomatic activities
- A Russian diplomatic source later said the expulsion decision did not target either the ambassador or his two senior deputies
Business
Tech giants clamp down on Russia state-linked news
Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik.
- Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik
- Twitter and Facebook have both been hit with access restrictions in Russia since the invasion of Ukraine
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
Economy
Company News
Latest News
Saudi Arabia real GDP grows 1.1 percent in Q2 2023
RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
Economy
UK to issue hundreds of new oil and gas drilling licenses in North Sea
The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
Geostrategy
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
Geostrategy
Most Read
Economy
In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
- The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
- Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia
Lebanon’s central bank chief to end term with no successor
Lebanon's deeply divided political class has failed to agree on a replacement for Salameh, 73, creating another power vacuum in...
- Salameh has for two years been the subject of judicial investigations at home and abroad into allegations including embezzlement and money laundering, charges which he denies
- Lebanon's central bank chief Riad Salam is wanted in France and Germany, and Interpol has issued a Red Notice for his arrest, but Lebanon does not extradite its nationals
Economy
Oman inflation spikes 2.8% in 2022, pushing up food prices
Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...
- Food and non-alcoholic beverages prices went up by 5.2 percent, and housing, water, electricity, gas and other fuels also rose 1.1 percent
- The steepest increase was in the prices of oil and gas products, registering a growth of 44.1 percent, with non-oil products rising 3.8 percent