Water security remains crucial for stability, prosperity
“Water is the fundamental element of life, enabling human societies to stabilize, develop civilizations, and achieve prosperity. Water is the...
Economy
GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In...
Economy
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
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.
Water security remains crucial for stability, prosperity
“Water is the fundamental element of life, enabling human societies to stabilize, develop civilizations, and achieve prosperity. Water is the...
Economy
Company News
Latest News
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
Economy
Protests mark Beirut blast anniversary as justice eludes victims’ families
Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...
Geostrategy
Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce
Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
Economy
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Economy
UAE 2023 growth prospects face least risk in Middle East, Africa
Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...
- The GCRI risk score in the MEA region has increased continuously for six quarters until Q1 2023, signaling a deteriorating situation.
- UAE, Saudi Arabia, Kuwait and Qatar are among the top five low-risk countries in the region, while Syria, Libya and Yemen are among the 10 high-risk countries.
Business
Saudi capital market institutions post record 2022 net income
Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase...
- The retained profits in capital market institutions reached a record high of SAR 60.34 billion, an increase of 39.17 percent.
- The profits of capital market institutions surged to highest ever SAR 12 billion due to a 26 percent increase in revenues in 2022.
Business
Empower H1 2023 revenue at $333m
The company’s EBITDA in H1 2023 was US$178 million.
- In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
- Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.