Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
Economy
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...
Economy
Economy
Is Gulf luxury sector immune from inflation?
However, just because there is inflation doesn't mean that people aren't spending, but they are spending differently. The that sales...
- The luxury industry in the GCC, is experiencing strong growth and closed 2021 above pre-pandemic levels
- Changes in tourism flows significantly impacted the luxury market in 2020 and the first few months of 2021
Market Report
Equities rise as Powell soothes rate fears, oil presses higher
Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for...
- Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for tightening policy
- Powell told lawmakers he was in favour of a moderate pace of rate increases, with a 25-basis-point lift this month
Opinion
Diginomics helps revive region’s consumer confidence
It is becoming incredibly important for organisations, brands and brand owners to prioritise the refinement of their products and services....
- Armed with AI algorithms, tech startups, direct-to-consumer players, fintechs, edtechs, regional economies are becoming more digitally resilient
- It is becoming incredibly important for organisations, brands and brand owners to automate processes that are otherwise time consuming
Business
TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.
- The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).
- AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.
Economy
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
- The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
- The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.
Economy
UAE and Israeli firms hold 200 business meetings at Dubai event
The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating...
- The event was the focus of a high-level trade mission which was joined by 50 businessmen representing 25 Israeli companies listed in Tel Aviv Stock Exchange.
- Dubai’s non-oil trade with Israel reached nearly AED 2 billion in the first half of 2021.
Business
Romania-UAE Business Forum promotes economic collaboration
Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.
- Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai
- Private sector representatives from the UAE and Romania called for harnessing available opportunities to create joint investment ventures
Economy
Biden says US will contribute half of 60 mn emergency oil barrel release
The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to...
- The decision aims to "send a unified and strong message to global oil markets that there will be no shortfall in supplies," the IEA said in a statement earlier
- The invasion came "against a backdrop of tight global oil markets, price volatility, commercial inventories that are at their lowest level since 2014," the statement said
Economy
World Bank preparing $3 bn emergency aid package for Ukraine
The IMF and the World Bank have promised to provide financial support to Ukraine, saying that they are saddened by...
- The World Bank will provide $350 million immediately to alleviate Ukraine's humanitarian crisis
- The IMF has said it will consider Ukraine's latest request for emergency financing 'as early as next week'
Economy
World Bank announces more than $1bn in aid for Afghanistan
The objective of the new aid provided by World Bank is to "protect vulnerable Afghans and help preserve human capital...
- The World Bank has redirected the funds to UN and UNICEF in response to the humanitarian crisis in Afghanistan
- Multi-donor fund ARTF has coordinated international aid to improve the lives of millions of Afghans until the Taliban took over
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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
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
Economy
Company News
Latest News
Turkish inflation surges in July at 47.83 percent
The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more...
Economy
Kenya suspends Worldcoin crypto over privacy concerns
Users who registered with the Worldcoin cryptoproject in Kenya were offered 25 free Worldcoin tokens worth about 7,000 shillings ($45),...
Business
Global trade in goods, services worth US$31trn in 2022: WTO
Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the...
Economy
Most Read
Economy
UAE president and Jordan’s king renew resolve to boost ties
The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic...
- The meeting between the UAE president and Jordan's king took place at Basman Palace in Amman during the president's official visit to Jordan
- The two leaders discussed various aspects of UAE-Jordan cooperation and opportunities to build on the deep, historic ties between both nations
Business
Global outstanding sukuk cross $800bn for first time: Fitch Ratings
Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and...
- Most Fitch-rated sukuk are senior unsecured obligations of the issuer and rank equally with other senior unsecured obligations, including bonds.
- Most Fitch-rated sukuk continued to be investment-grade at 79%, with 12.6% of issuers having a Positive Outlook, and 77.5% having a Stable Outlook in Q2.
Economy
‘UAE’s compliance level high in anti-money laundering’
She adds that the Ministry’s participation in this workshop forms part of its commitment to fostering regional and international cooperation...
- The UAE has achieved the highest compliance levels in anti-money laundering, developing an advanced ecosystem in line with global best practices
- The Gulf country seeks to foster regional and international cooperation with partners, contributing to establishing a sustainable AML ecosystem