European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister
Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...
Economy
Geostrategy
Iraqi delegation to visit Geneva, discuss country’s WTO accession
Iraq is making efforts towards joining the World Trade Organization and its Minister of Trade will visit Geneva to discuss...
- The delegation is likely to reach an agreement with European trade ministers.
- Iraq needs to pass laws and legislation on many topics, including the economy and customs, a trade ministry spokesman said.
Economy
Oman inflation up by 3.35 percent as transportation, education prices surge
The inflation rate in Oman rose by 3.35 percent in October 2021 compared to October 2020. Local media reports, citing...
- Prices of fish and seafood group rise by 14.82 percent in October compared to Oct. 2020.
- While the prices of restaurants and hotels fell by 0.21 percent, the prices of tobacco, health and communication remained unchanged.
Economy
Omani finance ministry issues government treasury bills worth $194 million
Oman's finance ministry has issued government treasury bills worth Omani Riyal 75 million ($194 million). Treasury Bills are short-term highly...
- Treasury bills are short-term highly secured financial instruments that provide licensed commercial banks the opportunity to invest their surplus funds.
- The bills have a maturity period of 91 days, from 24 November 2021 until 23 February 2022.
Economy
Iraqi PM’s advisor outlines measures to sustain growth
The financial advisor to Iraqi Prime Minister, Madher Muhammad Salih, has stressed the need for beginning  a set of measures...
- "What matters today is the accelerated growth in the energy sector, whose contribution to the to GDP constitutes approximately 45%"
- "the growth rate in the gross domestic product exceed the growth rate of the population, which is a positive indicator towards the welfare of society"
Economy
Turkey lira crashes to new record low against dollar
The Turkish lira plunged to record lows against the dollar on Tuesday after President Recep Tayyip Erdogan said policymakers have...
- The currency fell by 13 percent to almost 13 lira against the dollar
- Turkey is facing the worst currency crisis since August 2018 when the value of the lira hit historic lows
Economy
The broken dreams of desperate migrants fleeing Africa for Saudi
Tens of thousands of migrants are stuck in Yemen, unable to pay for a return trip, held hostage by smugglers...
- Tens of thousands of migrants are stuck in Yemen, unable to pay for a return trip, held hostage by smugglers or detained by local authorities
- Movement along the Eastern Route is picking up again after slowing in 2020, when borders closed because of the coronavirus pandemic
Economy
Returned migrants still long for way out of Iraq
Around 400 Iraqi migrants have returned home after spending three weeks in freezing forest of Belarus, deep in debt but...
- The West accuses Belarus of taking migrants to the borders with EU members Poland and Lithuania with promises of easy crossing
- Belarus has denied the claim and criticized the EU for not taking in the migrants
Economy
Qatar, Poland to enhance cooperation: Polish Deputy Foreign Minister
Deputy Foreign Minister Pawel Jablonski of Poland said on Monday that Poland and Qatar can increase their cooperation in many...
- Jablonski said that his current visit to Doha aims to discuss new opportunities to support and advance economic, investment and tourism cooperation
- He also discussed with Qatari officials ways to enhance cooperation with the Qatar-Poland Business Council, the Qatar Financial Center, the Qatar Free Zones Authority
Business
Companies in UAE should invest in technology to stay ahead of digital curve: Microsoft Hololens chief
With the current global circumstances accelerating the need for immersive tools such as augmented reality and virtual reality, businesses across...
- Pace said that collaboration and investment were key to empowering businesses
- She works with a team in San Francisco, US, to address technical challenges to push the barriers and unlock solution
Economy
Iran says hopes for ‘constructive’ visit by IAEA chief
The landmark nuclear deal was torpedoed in 2018 by then US president Donald Trump's unilateral decision to withdraw Washington from...
- "We hope that Rafael Grossi's visit will be as constructive as the previous ones," foreign ministry spokesman Saeed Khatibzadeh told reporters.
- On Friday, the IAEA said Tehran had again increased its stockpile of highly enriched uranium, many times in excess of the limit laid down in the 2015 agreement.
European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
Company News
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OPEC anticipates 2.2% growth in oil demand in 2024
Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in...
Business
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
Economy
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Geostrategy
Tunisia protestors demand jailed opposition figures be freed
Around 100 protesters rallied in Tunisia's capital to demand freedom for detained critics of President Kais Saied who has ruled...
- In addition to the crisis triggered by President Saied's power grab, Tunisia has been shaken by a serious financial crunch and is in search of foreign aid.
- European parliamentarians expressed their opposition to any "unconditional agreement" between the EU and Tunisia, citing "the excesses" of Saied.
Business
Pressure on Beijing to unveil stimulus measures as exports tumble
Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in...
- The 12.4 percent drop released by the General Administration of Customs was an acceleration from May's 7.5 percent.
- Imports also fell 6.8 percent over the same period, reinforcing concerns about softening domestic demand.
Opinion
US is on course for soft landing, may avoid recession
During periods of economic stability, government focus typically gravitates towards infrastructure development. Investments in sectors like construction, transportation, energy, utilities,...
- The Consumer Price Index (CPI) rose just 0.2% in June and was up 3% from a year ago, says Nigel Green, the CEO and Founder of deVere Group
- The Federal Reserve seems to be successfully controlling inflation without pushing the United States into a recession, opines Nigel Green