Swiss central bank posts 2023 loss
The bank has raised its interest rates to tame inflation..
UAE achieves milestone in combating financial crimes
“It highlights the collaborative efforts of various committees, entities, and national bodies, including the Central Bank and the National Committee...
Economy
Business
Bahraini imports increase by 18 percent in Q4 2021
The value of Bahraini imports increased by 18 percent in the fourth quarter of 2021, reaching BD1.406 billion, the Information...
- The top 10 countries accounted for 71 percent of the value of imports, with the remaining countries accounting for 29 percent, Bahraini media reports said.
- The value of exports of national origin increased by 99 percent to BD1.192 billion during the fourth quarter of 2021.
Economy
Jordan Dana Reserve featured on NY Times’ 2022 travel wish-list
The newspaper highlighted the Dana Reserve as a site worth visiting, which combines a deeply rooted history, unique environmental components...
- The newspaper highlighted the Dana Reserve as a site worth visiting, which combines a deeply rooted history, unique environmental components and breathtaking natural beauty
- The Dana Biosphere Reserve is the first national reserve to be listed on the United Nations Educational, Cultural and Scientific Organization's Man and the Biosphere Program
Economy
Bitcoin mining for all
Block is building a system to mine bitcoin.
- Block changed its name from Square late last year to denote a broader mission that includes blockchain and economic empowerment
- Hardware and software teams at Block will openly collaborate with the cryptocurrency community outside the San Francisco-based company
Economy
Climate change worsening toll on outdoor workers: Study
Researchers in the United States, who estimated the current cost at $2.1 trillion every year, said the effects of stifling...
- The researchers looked at data on humid heat — particularly dangerous because the body is less able to cool down by sweating
- The study, published in the journal Environmental Research Letters, said around 677 billion work hours are lost a year to humid heat
Business
Mineral resources key to supporting Saudi economy: Investment Minister
Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih said that the mineral resources sector is among the most important...
- General program for Geological Survey results in issuing 75 new exploration licenses after the launch of the new Mining Investment Bylaw in January 2021.
- Estimations put the value of mineral resources in the Kingdom of Saudi Arabia at $ 1.3 trillion.
Economy
EU expects more GCC investors for its special program: Official
On 12th October 2021, the European Commission issued its first-ever NextGenerationEU green bond
- The program is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by COVID-19.
- Since June 2021, the European Commission has rolled out five issuances and raised around €71 billion in long-term EU-Bonds, and short-term EU-Bills
Economy
Inflation second on external concern list, worry global CEOs
As prices have surged, inflation has soared as a worry for global executives, overtaking concerns about Covid-19 disruptions in some...
- More than half, or 55 percent, of the group expect to see price pressures through mid-2023 or beyond, said the survey by the Conference Board of some 1,600 global CEOs.
- Inflation ranked as the top concern among European CEOs, but fourth in China and outside the top 10 in Japan.
Geostrategy
Iranian teachers demonstrate in several cities against pension reforms
Hundreds of teachers on Thursday rallied in several Iranian cities to denounce the slow implementation of salary and pension reforms,...
- In Gilan province on the Caspian Sea coast, around 150 teachers marched in the city of Rasht, while another 70 did so in Lahijan, the state broadcaster reported.
- The protesters are demanding that the government move more quickly on a planned grading system for teachers based on experience and performance.
Economy
UN: $3.9 billion needed for help in war-torn Yemen
The biggest constraint right is funding to help some 16 million people, a top UN humanitarian official told the UNSC.
- The biggest constraint right is funding to help some 16 million people, a top UN humanitarian official told the UNSC
- He added that funding has been decreasing in recent years, with last year's response plan only funded at 58 percent
Economy
Gulf watch: Sectors that will grow most in 2022
The business environment in the region will experience a transformation that will have a far-reaching impact on economic trends and...
- The GCC’s non-oil sectors will continue to dominate the economy, creating future opportunities
- The region’s economy may benefit greatly from ecommerce, logistics, and delivery services
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Swiss central bank posts 2023 loss
The bank has raised its interest rates to tame inflation..
Company News
Latest News
Governments should provide incentives for green finance, says Dubai Chambers’ webinar
DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...
Business
Saudi Arabia tops MENA region in venture capital investment during H1 2023
Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding...
Economy
Most Read
Business
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
- The maturity period is of five years at a profit rate of 8 percent annually.
- The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Economy
Turkish President Erdogan concludes economy-driven Gulf tour in UAE
The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage...
- The UAE and Turkey have signed numerous strategic agreements and MoUs to boost bilateral cooperation across various sectors
- In 2022, non-oil trade between the UAE and Turkey reached nearly US$19 billion, reflecting a substantial increase from previous years
Geostrategy
Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership
Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
- Erdogan and Sheikh Tamim also discussed important regional and international developments and witnessed the signing of a joint statement
- Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region