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
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
Economy
Ajman’s $656m budget for 2022 focused on infrastructure, community facilities
Ajman's budget of AED2.41 billion ($656m) for 2022 has been approved by the emirate's ruler Sheikh Humaid bin Rashid Al...
- Economic affairs (34 percent), public services (19 percent) and public order and safety (eight percent) are the other sectors that account for the rest of the budget.
- The 2022 budget is the largest in the emirate’s history, and 17 percent higher than last year’s budget.
Market Report
Fed signals faster rate hikes, Asian, European stocks sink
London's benchmark FTSE 100 index slid 1.0 percent to 7,445.04 points, after heavy losses earlier in Asia and overnight on...
- London's benchmark FTSE 100 index slid 1.0 percent to 7,445.04 points, after heavy losses earlier in Asia and overnight on Wall Street
- "Everyone is concerned about the Fed's fast and furious monetary policy stance," AvaTrade analyst Naeem Aslam told AFP
Economy
Iraq acquires ExxonMobil share
The share was bought by Iraqi national oil company.
- The share was bought by Iraqi national oil company in the West Qurna field
- The field is one of the giant fields, the Iraqi oil ministry statement said
Business
‘Social media key to brand identity in 2022’
Changes in digital marketing have forced the hand of digital marketers in a do-or-die way, says Farhad Divecha, founder and...
- Changes in digital marketing have forced the hand of digital marketers in a do-or-die way, says Farhad Divecha, founder and MD of AccuraCast, a UK leading digital marketing agency
- Social media sites, according to Divecha, are where consumers turn to when they want to find out about or engage with a brand, So having that presence is as important
Business
Barter best payment method in Iran-Pakistan trade: Official
The Secretary-General of Iran-Pakistan Joint Chamber of Commerce Fahimeh Damroudi said that barter is the best choice of exchange as...
- Iranian President Ebrahim Raisi has repeatedly underlined the importance of trade development with neighbors.
- Iran's foreign trade reached $72.1 billion during the first nine months of the Iranian calendar year.
Business
Mumzworld CEO says committed to supporting Mideast businesswomen
Mumzworld has over 350 staff, with over 6,000 brands and more than 300,000 products for sale on the website, and...
- Mumzworld was built in 2011 to support women in the Arab world and help them to make informed decisions for their families.
- Ataya told that she would use her new role as a mentor, and sharing the knowledge, skills, and successes with other women.
Economy
Kuwait to increase crude output by 27,000 barrels per day from Feb 1
Kuwait will increase its crude production by 27,000 barrels per day (bpd) to 2.6 million bpd from 1 Feb. 2022...
- With the fresh raise, which is in compliance with OPEC decisions, Kuwait's total production will reach 2.6 million bpd.
- OPEC+ has decided to proceed with a production hike of 400,000 bpd, keeping their current policy of slight monthly increases in output.
Economy
USAID to fund surface water usage project in Jordan
Water loss reduction projects can also boost water reserves, upgrade water facilities in the Jordan Valley and maintain water and...
- Water loss reduction projects can also boost water reserves, upgrade water facilities in the Jordan Valley and maintain water and irrigation infrastructure
- Jordan water ministry said it is committed to supporting farmers and providing them with all capabilities to maximize the national agriculture output
Economy
Lebanon currency falls further as leadership placates Saudi Arabia
The midmarket rate for the Lebanese pound is around 1,500 to the dollar, but the reality on the ground is...
- The local currency is now trading at more than 30,000 to the dollar in the black market
- It has lost more than 95 percent of its purchase power since end-2019 as the economy sags
Economy
Jordan to set up US$80m industrial support fund
Jordanian Minister of Industry, Trade and Supply Youssef Shamali noted that industrial production inputs will continue to be exempt from...
- Jordanian Minister of Industry, Trade and Supply Youssef Shamali noted that industrial production inputs will continue to be exempt from any customs duties
- He said that the Jordan Enterprise Development Corporation (JEDCO) will continue to support the industrial sector by covering part of shipping costs
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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 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
Company News
ADNOC Distribution’s profit up
Business
Latest News
Rich-poor split could tighten ‘grip of poverty’: World Bank chief
The G20 talks come after Russia on Monday refused to extend a deal allowing critical Ukrainian grain exports through the...
Economy
Trade hits new high as GCC-Japan ties get warmer
Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
Economy
Qatari small and medium-sized companies sign deals worth US$201m in H1
Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting...
Economy
Most Read
Business
Qatar: Commercial Bank profit rises by 8.5%, Masraf Al Rayan’s dips by 24%
Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching...
- The figures issued by the bank website showed an increase in the EPS of Commercial Bank of QR 0.37 ($0.10) in the first half of 2023
- The financial statement of Masraf Al Rayan revealed a decline in net profits by 24 percent, to $207.12 million in H1 2023
Economy
Egypt building collapse kills eight residents in capital
According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo...
- Many buildings in central Cairo dating back to the 19th and early 20th centuries are in dilipidated condition
- There have been many building collapses in recent years in Egypt due to non-compliance with regulations
Economy
UAE ranks first in Arab region and 29th globally in UN Industrial Performance Index
Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen...
- This index gauges and compares the strength of industrial competitiveness within countries
- The UAE has remained in the CIP’s top quintile, reflecting its position as a regional and global player in the industrial sector