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
Tunisians take to streets to protest economic woes
Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...
Economy
Economy
Free Trade Agreement with UAE nearing conclusion, says Indian minister
India’s Minister of Commerce and Industry, Piyush Goyal, on Wednesday told the heads of top business and industry associations in...
- Piyush Goyal urged industry leaders to be proactive in giving inputs to the government on matters like FTA negotiations
- He expressed confidence of growth in services exports, in spite of travel and tourism restrictions caused by the pandemic
Business
UAE, European Union discuss ways to boost cooperation
The meeting was hosted at the UAE Ministry of Finance’s headquarters in Abu Dhabi.
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Economy
Morocco’s GDP expected to grow by 3.2 percent in 2022: World Bank
The World Bank’s Global Economic Prospect reported on Tuesday that Morocco’s GDP is expected to grow by 3.2 percent in...
- Output in 2023 is projected to remain about 5 percent smaller than expected before the pandemic, the World Bank notes.
- The agricultural output returns to historical averages after the extraordinary performance of the primary sector in 2021, a WB report said.
Business
UAE, European Union discuss ways to boost bilateral cooperation
The UAE and the European Union discussed ways of boosting bilateral cooperation between them to achieve mutual benefit across various...
- The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration.
- This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Business
Dana Gas, Crescent Petroleum report record sales gas production
Dana Gas and its partner Crescent Petroleum have reported record sales gas production from their operations in the Kurdistan Region...
- Dana Gas and Crescent Petroleum jointly operate the Khor Mor and Chemchemal gas fields on behalf of the Pearl Petroleum consortium.
- The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including a bypass project.
Economy
Jordan revenues from income, sales tax hit $7.35bn in 2021
While sales tax collection rose 14 percent, income tax collection rose 7 percent from 2020 to 2021.
- Sales tax collected by Jordan in 2021 reached JD4.037 billion ($5.69 billion), up from JD3.534 billion ($4.98 billion) in 2020
- Revenues collected as income tax in 2021 reached JD1.176 billion ($1.66 billion), up from JD1.103 billion ($1.56 billion) in 2020
Economy
World economy at risk as Omicron engulfs Europe
More than half of people in Europe will likely catch Omicron by March, the WHO has said amid a World...
- The WHO's regional director for Europe Hans Kluge described a ‘new west-to-east tidal wave sweeping across’ the region
- The WHO's European region covers 53 countries and territories including several in Central Asia, 50 of them had Omicron cases
Economy
Lebanon prosecutor hits central bank chief with travel ban
Riad Salameh is among the top Lebanese officials blamed for a financial crisis that the World Bank says is of...
- The travel ban is pursuant to a lawsuit filed by an activist group against Riad Salameh over alleged financial misconduct
- Salameh has also been summoned for questioning over the case but the exact date of the session has yet to be publicly disclosed
Business
Tadweer of Abu Dhabi to hold ‘EcoWASTE’ exhibition
The exhibition and forum cover various fields, including recycling and waste management and treatment in the MENA region.
- It will begin from17th January to 19th January 2022 in Abu Dhabi at National Exhibition Center (ADNEC) as part of the Abu Dhabi Sustainability Week
- The forum would also work as an integrated platform for developing and formulating practical and sustainable waste management practices
Geostrategy
Covid and its effects continue to pose threat to world: WEF risks report
The Global Risks Report 2022 released by the World Economic Forum said vaccine inequality and a resultant uneven economic recovery...
- In the poorest 52 countries—home to 20 percent of the world’s people—only 6 percent of the population had been vaccinated so far.
- By 2024, developing economies (excluding China) will have fallen 5.5 percent below their pre-pandemic expected GDP growth,
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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
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Sharjah Chamber, Costa Rica discuss boosting economic ties
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations....
Economy
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
Business
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...
Economy
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Economy
Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector
Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...
- The country's economic recovery plan aims to boost growth, attract investments and create job opportunities
- Its real estate, hotels, restaurants and trade all grew between 4.2 percent and 5.3 percent during the quarter
Economy
Iran looks to Arab states to propel its lackluster tourism sector
Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy....
- Visitors at ancient Iranian sites can be heard speaking Arabic, Chinese and Russian and not English, French or German
- With its ancient splendors like the cities of Shiraz, Isfahan and Mashhad, Iran has attracted visitors from far and wide
Economy
Dubai Chambers to host two-day event in November on global trade
Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year...
- The two-day event running under the theme of "Shifting Economic Power" Dubai and the future of global trade" will be held at Madinat Jumeirah
- The occasion will see leaders from sectors as diverse as technology, retail, finance, travel and hospitality, real estate, and healthcare