UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
UAE banking sector looks poised for continued growth in 2024
Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...
Economy
Economy
Libya has 2 prime ministers after parliament vote
The emergence of the new government once again gives Libya two prime ministers, as was the case between unrest-plagued 2014...
- Libya’s parliament approved a new cabinet in a challenge to unity premier Abdulhamid Dbeibah, who has refused to cede power until elections
- In a vote some fear could help tip Libya into another round of violence, the cabinet of former interior minister Fathi Bashagha was approved
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
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
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Company News
Latest News
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...
Economy
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...
Business
Most Read
Economy
Jordan and Cyprus to deepen energy, trade, tourism ties
Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to...
- Jordan's king and Cyprus president met at Al Husseiniya Palace, and discussed enhancing cooperation in various fields
- The king underscored the need to strengthen bilateral relations and cooperation, especially in energy, trade, industry, tourism
Geostrategy
Saudi Arabia funds construction of library in Bosnia and Herzegovina
SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone...
- The funding for construction and equipping of the library has been through a US$22 million grant provided by the Saudi Fund for Development.
- The new library will act as a central hub to connect the university’s 28 sub-libraries and will contribute towards enhancing its educational capabilities.
Business
Ooredoo Algeria gets new CEO
Roni Tohme, the Acting CEO, has been confirmed as the CEO.
- Tohme brings over 21 years of experience in telecoms and finance to his new role, having previously served as Ooredoo Algeria’s Chief Financial Officer.
- During his tenure as CFO, he played a vital role in shaping an agile and lean finance department, contributing to the company’s business transformation.