UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
Economy
Jordan signs pact with Germany, EU to build water projects
The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The project will improve wastewater treatment and environmentally friendly sludge disposal.
- The value of the EU’s bilateral support to the water and sanitation sector in Jordan is over 150 million euros
Economy
Jordan approves measures to stabilize commodities prices
Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30...
- Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months
- The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers
Geostrategy
Years after war, health sector ailing in Iraq’s Mosul
Apart from the hospitals, the rest of Mosul is also struggling to regain a sense of normalcy. Residents crowd into...
- The former stronghold of the Islamic State group, Mosul was devastated by the battle to oust the jihadists that ended in summer 2017
- More than four years on, the northern metropolis remains a patchwork of gutted concrete carcasses interspersed between buildings under construction
Economy
Libya orders arrest of second minister for financial irregularities
Prosecutors had already questioned Culture Minister Mabrouka Touki before the order was issued to detain her on charges of ‘falsifying...
- The culture minister, an academic with a degree in nuclear physics, was appointed in March as part of the interim unity government
- The probe relates to alleged graft over a contract for maintenance works on ministry buildings which had already been refurbished last year
Economy
School of Government and ADGM Academy launch investment program
The Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGM Academy) have launched the ‘Investment Foundations'...
- The program aimed at equiping Abu Dhabi government employees with knowledge and skills related to finance, ethics, and investment practices.
- Participants will receive a certification jointly accredited by the ADSG and Abu Dhabi Global Market Academy.
Economy
Slow progress as Lebanon awaits IMF economic deal
Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of...
- Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of financial losses
- Talks resumed in September this year after the formation of a new government headed by Prime Minister Najib Mikati
Economy
Global stocks rise amid optimism Omicron won’t derail recovery
Experts caution against too much optimism around early indications that Omicron causes less severe disease than previous strains, pointing out...
- The US Centers for Disease Control and Prevention helped sentiment on Monday as it cut the isolation period for asymptomatic Covid cases in half to five days.
- Frankfurt's DAX index finished 0.8 percent higher while the Paris CAC 40 closed at a record, rising 0.6 percent to 7,181.11 points. London was closed for a holiday.
Geostrategy
Saudi Fund invests in education, road projects in Lanka
The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death...
- The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
- The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education
Interview
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....
- Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
- Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
Economy
Cash-strapped Tunisia to borrow $7 billion more in 2022
Debt-ridden Tunisia unveiled a 2022 budget on Tuesday that will see it borrow almost $7 billion more, as it seeks...
- The deficit is expected to hit some 6.2 percent of gross domestic product, said finance minister Sihem Boughdiri.
- Tunisia's previous government had been in talks with the IMF over a new bailout package when President Kais Saied in July sacked ministers and seized far-reaching powers.
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Company News
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RAK Ceramics’ profit soars in Q1
Business
GCC, Central Asian states pledge to boost strategic ties
The two sides endorsed a comprehensive joint statement that called for the boosting of political and strategic ties and strengthening...
Economy
Harness AI opportunities, assess threats to peace
"AI development is now outpacing Moore's Law and moving at breakneck speed, and governments are unable to keep up. This...
Economy
Turkey, UAE sign agreements worth over $50bn
Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40...
Business
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Business
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...
- The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
- The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
Economy
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...
- The Kingdom accounted for 42 percent of the total capital deployed in the region during H1 2023, up from 31 percent in 2022.
- -commerce and retail were the highest sector in the Kingdom by the amount of funding and by number of deals in H1 2023
Economy
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....
- Discussions focused on strengthening commercial and industrial cooperation and investment among the private sector organizations and institutions
- The chamber noted the incentives, privileges, and various forms of support and assistance offered by the emirate to foreign companies