China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
Turkey’s inflation rises to 67.1% in February
On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan...
Economy
Economy
Fed sharpens inflation-fighting tools as rate hikes near
The Federal Reserve has its inflation-fighting weapons ready to fire, and when the US central bank's policy committee convenes this...
- The policy-setting Federal Open Market Committee (FOMC), which opens its two-day meeting on Tuesday, is widely expected to begin hiking interest rates in March
- By the end of 2021, policymakers conceded they had miscalculated and pivoted, announcing they were ready to attack inflation head on
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Arab countries see surge in crypto investors
In 2021, Triple-A estimated global crypto ownership rates at an average of 3.9 percent, with over 300 million cryptocurrency-owners and...
- Consultancy firm Triple-A estimates global crypto ownership rates at an average of 3.9 percent
- The number of cryptocurrency investors is expected to rise in 2022, mainly in the UAE and Bahrain
Science
Iraq Forum for Clean Energy 2022 kicks off on Sunday
The ministry of oil endeavors to support all initiatives and efforts to gradually shift from traditional to clean and renewable...
- The companies include South Gas, Basra Gas, Shell and Siemens Energy, Schlumberger, Baker Hughes
- The forum will be used for discussing the programs for developing the renewable energy sectors in Iraq
Business
Two Iraqi banks to open in Saudi Arabia
The Saudi Central Bank has announced the opening of two branches of two Iraqi banks in Riyadh, and confirmed the...
- The bank also indicated the allocation of more than one billion Riyals ($270 million) to the Sports City.
- In 2021, the second training program for employees of the Central Bank of Iraq was started
Geostrategy
Germany to offer €100m loan to reform Tunisian banking sector
This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve...
- This disbursement is part of a loan agreement signed in 2020 between Tunisia and the German Development Bank to improve access to financing for SMEs
- German Ambassador to Tunisia Peter Prüge said that the decision to give loan was taken in view of the roadmap for restoration of democracy prepared by Tunisian President Kais Saied
Economy
Tadawul approves listing of SAR 2.8bn debt instruments
The debt instruments are issued by the Saudi government and submitted by the Ministry of Finance.
- The debt instruments are issued by the Saudi government and submitted by the Ministry of Finance
- The debt instruments' first issuance stands at SAR 1.248 billion, while the second offering is valued at SAR 1.585 billion
Economy
Qatar signs agreement to ensure gas supply to Gaza power plant
In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza...
- In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza Electricity Generation Company
- Under the MoU, the Qatari committee will finance the construction of the gas pipeline from the supplier company to the borders of the Gaza Strip at a cost of USD60 million
Economy
EU nations debate whether nuclear, natural gas energy ‘sustainable’
Hours before the window for lodging objections closed, EU environment and energy ministers meeting in France on Friday differed sharply...
- The controversy pits countries led by France against Germany, Austria, and others in the EU
- Nuclear power is carbon-free, while gas is significantly less polluting than coal
Economy
Fixes and flaws of new UAE labor laws
The United Arab Emirates has set itself on a new course to completely overhaul the labor laws in order to...
- The Covid-19 pandemic has led to rapid changes in working patterns
- The UAE's new labor law may provide it a competitive advantage by giving expat workers better rights
Business
Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded...
- These terminals can be found at commercial sales outlets in more than 180 cities and villages.
- PoS terminal transactions reaching more than 5 billion by the end of 2021, compared to 2.8 billion transactions in 2020.
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China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
Economy
Company News
Latest News
UAE emissions plan ‘insufficient’, say climate groups
PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis...
Science
US, Arab League discuss Middle East, Israeli-Palestinian conflict
The US-Arab Strategic Dialogue discussed Middle East peace and the Israeli- Palestinian conflict, among other issues. The dialogue concluded successfully...
Geostrategy
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Economy
UAE Corporate Tax: Workshop identifies conditions for determining taxable, exempt persons
Abu Dhabi, UAE - The conditions determining taxable and exempt persons, corporate tax rates and tax periods. were highlighted at...
- Key topics covered during the workshop include the Small Business Relief designed to support start-ups and other small or micro businesses
- The topics also included corporate tax in free zones; determination of taxable income; transitional rules; taxable businesses and business activities of individuals
Economy
Lebanese activists struggle against rampant beachside development
Amchît, Lebanon--In a pristine patch of Lebanon's north coast, a rare marine visitor has fueled opposition to a seafront development, in...
- The country's seafront at many places remains dotted with formal and informal structures and developments, some of them abandoned
- Once sighted everywhere, monk seals are now considered endangered by the International Union for Conservation of Nature due loss of habitat
Economy
UAE construction sector logs 135% growth in project announcements
Dubai, UAE - The UAE has witnessed 135 percent year-on-year (YoY) growth with AED 49.25 billion ($13.37 billion) project announcements...
- The surge in project awards is equally impressive, rising from $9.10 billion to $13.36 billion
- The figures underscore the significant investments being made in the UAE's infrastructure development