WTO talks end with no major win, throwing trade body into ‘crisis’
Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite...
Investment and innovation behind Qatar’s tech success
Maher praises the Gulf country for its substantial efforts, investments, and innovative ideas that have transformed it into a prime...
Economy
Economy
Asia markets climb as Covid fears recede
Studies indicating Omicron infections are less likely to result in hospitalisation have increased confidence that the pandemic will have less...
- Studies indicating Omicron infections are less likely to result in hospitalisation have increased confidence that the pandemic will have less impact on the economy
- On Wall Street, the S&P 500 ended the last session before the holiday weekend at a fresh record following a raft of mostly decent US economic data
Geostrategy
World Bank pledges $37 million to help Lebanon teachers
The World Bank on Thursday said it agreed with its partners to repurpose $37 million in funds to help Lebanon's...
- The "exceptional" financing, which is valid only for the 2021-2022 academic year, came at the request of Lebanon's government, the bank said.
- Public school teachers who were already underpaid before the onset of the economic crisis two years ago have since been pushed deeper into poverty.
Economy
Saudi economy set to be buoyant in 2022
The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and...
- Jadwa Investment Company and Al-Rajhi Capital expects value-added tax unlikely to change.
- Beltone expects that inflation would remain around 2 percent, affected by global inflationary pressures.
Economy
Many factors shaping global economic outlook: Expert
UBP Senior Portfolio Manager Fares Benouari has predicted that 2022 would see greater exposure to ESG, automation, and fintech in...
- UBP Senior Portfolio Manager Fares Benouari has said the current global economic outlook depends on strains, spells, and administrative responses
- He also pointed out that businesses, however, have made productivity gains, pivoting to digital, increasing efficiencies, and reducing costs
Economy
World Bank approves $112 million to fund employment in Jordan
Jordan’s persistently high levels of unemployment are driven by the limited capacity of its private sector to create more and...
- WB finances the National Employment Programme (NEP) in the country to help its recovery from the COVID-19 pandemic by promoting private sector-led job creation
- The NEP aims to enable more than 2,000 private sector firms to hire and train over 63,000 new employees, a third of them women
Economy
China gives celebrities 10 days to shell out unpaid taxes
China has launched a sweeping state crackdown on tax evasion and perceived immoral behavior in the entertainment industry. The move...
- YouTuber Huang Wei was ordered to pay a record $200 million fine for tax evasion on Monday
- Actress Zheng Shuang was in August hit with a $46-million fine for tax evasion
Interview
Breathable sand could disrupt UAE agri-sector
The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and...
- The UAE is 80 percent desert, with less than 1 percent agricultural land
- Systemic, climatic, and geographic concerns threaten food and water security in the country
Economy
Queues grow longer at Istanbul’s discount bread shops
The queues are a worrying sight for Turkey's veteran President Recep Tayyip Erdogan, who is trying to fight inflation by...
- Countries usually raise borrowing rates to slow spending and bring down prices -- a policy mix the Turkish leader, a pious Muslim, rejects citing Islamic laws against usury.
- One newspaper claimed Istanbul mayor Ekrem Imamoglu was playing a "dirty game" by shutting down many of the discount bread shops, making the queues longer at existing ones.
Economy
Top company leaders highlight priorities for MENA governments at CEO Dialogue
Top company leaders highlight priorities for MENA governments at CEO Dialogue Leaders of top regional and international companies in the...
- The CEO Dialogue was hosted by the World Government Summit in collaboration with the Atlantic Council’s empowerME Initiative and Majid Al Futtaim.
- They discussed economic and social changes in the region over the past few years, development and opportunities for global growth.
Geostrategy
UN agency says to cut food aid to Yemen for want of funds
Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.
- Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014
- The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
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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
WTO talks end with no major win, throwing trade body into ‘crisis’
Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite...
Company News
Latest News
Carrefour now opens in Israel
Business
Fertiglobe Q1 net profit $135m
Business
MBRGI joins UAE delegation, takes part in UN forum on sustainable development goals
DUBAI, UAE - Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) joined the UAE delegation to the United Nations High-Level...
Geostrategy
Morocco, Shell sign 12-year natural gas deal: ministry
Morocco has sought to diversify its energy sources particularly since neighbouring Algeria stopped supplying natural gas via the GME in...
Modi’s visit: India, UAE sign pact to trade in local currencies
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday...
Economy
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Business
CBD H1 2023 net profit $133m
Profit is a 41.5 percent jump compared to H1 2022.
- This remarkable growth in net profit is attributed to outstanding revenue contribution across net interest and other operating income.
- The economic outlook for the UAE and business confidence continue to be encouraging, powered by buoyant domestic activity.
Geostrategy
Ukraine grain deal failed to achieve objective, says Putin
Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not...
- A memorandum on unhindered Russian food and fertilizer exports had been signed in parallel to the grain deal.
- "The main goal of the deal, namely the supply of grain to countries in need, including on the African continent, has not been implemented," Putin said.
Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.