UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...
Geostrategy
Business
Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.
- The Jeddah-based pharma retailer made revenues of SR8.6 billion ($2.3billion) during the year
- Nahdi currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Videos
GCC startups begin 2022 on a promising note
Digital economy has driven the startup investment upsurge in the MENA region in 2021.
- In 2021, more than 50 per cent of the world’s private investment funding went to startups in the United States.
- The other four top countries with the most private funds invested are China, the UK, India and Germany.
Economy
Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the...
- The expenditure on the Msailha Dam amounted to $69.13 million, according to official figures
- The same figures from the government say the amount spent on the Balaa Dam was $24 million
Economy
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...
- The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
- It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
Geostrategy
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.
- The projects include two new development initiatives in the water and housing sector
- The fund has also laid the foundation stone for a project in the transportation sector
Analysis
Lebanon’s ‘zombie banks’ downsize to weather crisis
More than two years into a financial crisis that has seen the local currency lose 90 percent of its value,...
- The financial collapse that began in Lebanon in late 2019 has been deemed by the World Bank one of the world's worst since the 1850s
- However, before that the country had an oversized but prosperous banking sector, which has since come to be blamed for the economic crisis
Economy
Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin...
- To qualify for the Golden Residency Visa, existing residents must have stayed in Bahrain continuously for at least five years
- They must also have earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the duration
Science
UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that...
- The minister noted the need to increase investments in agri-tech and leverage best practices that safeguard vulnerable nations' food and water security
- He was speaking at the Munich Security Conference titled "Scaling Up Climate Action" where he reiterated the UAE's support for robust climate finance
Business
UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per...
- The two sides also discussed an exchange of expertize and best practices in infrastructure, housing and transport
- The ministers of UAE and Hungary met on the sidelines of Dubai Expo 2020 and discussed cooperation in energy
Economy
Digital banks help Kuwait keep pace with global trends: CBK official
Executive Director of the Supervision Sector at the Central Bank of Kuwait, Waleed Al-Awadhi said that the digital banks will...
- Executive Director of the Supervision Sector at the Central Bank of Kuwait, Waleed Al-Awadhi said that the digital banks will have no branches
- This tech-based model saves cost and time, he clarified, adding that these banks do not have the paperwork complications of the traditional counterparts
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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
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
Company News
Latest News
Egypt calls for renewal of Black Sea grain export deal
MOSCOW, RUSSIA - Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...
Geostrategy
Most Read
Yen swings after Bank of Japan policy tweak, Asian equities mixed
After a closely watched meeting, the Bank of Japan said it would allow "greater flexibility" in government bond markets, having...
- The currency has been hammered for more than a year as the BoJ refused to shift from its loose policy
- With prices picking up at home and the yen struggling, pressure has been growing on the bank to change tack
Evergrande’s e-vehicle unit shares plunge 70% after trading resumes
The company on Wednesday announced its earnings for 2021 and 2022 -- showing a loss of almost $12 billion --...
- Officials called a halt to dealing in China Evergrande New Energy Vehicle Group (NEV) on April 1 last year after it failed to release its financial results
- In its financial results posted Wednesday, NEV said its debt hit 183.9 billion yuan ($25.6 billion) at the end of December 2022
Geostrategy
Trade between Russia and Africa totaled $18 bn in 2022: Putin
Moscow, Russia - Trade turnover between Russia and Africa reached $18 billion in 2022, which is one of the results...
- Last year Russia’s trade with African countries in agricultural products increased by 10 percent to $6.7 billion
- Russia exported 11.5mt of grain to Africa in 2022, and almost 10mt in the first six months of 2023