UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Economy
ADNOC Drilling included in major global indices
ADNOC Drilling’s has now achieved an integral position as the sole provider of drilling rig hire and rig-related services to...
- ADNOC Drilling was included in key global indices by FTSE less than two weeks after its record ADX listing
- The Company’s Board approved ADNOC Drilling’s ambitious 5-year business growth plan for 2022 to 2026
Economy
Shekel surplus weighs down Palestinian economy
In Israel, as in many advanced economies, digital payments are rapidly growing, taking the place of transactions once done with...
- Palestinians in the West Bank use the Israeli shekel but the two financial systems are dramatically different
- Experts and business people say the buildup of hard currency risks stifling the Palestinian financial system
Investigation
Qatar tops GCC region in food security
The country's National Food Security Strategy 2018-2023 is geared to increase the strategic stock of food commodities to ensure food...
- In terms of food security indicators, the country ranks first in the Arab world and 13th globally, according to the December 2019 World Food Security Index
- Qatar’s "National Food Security Strategy 2018-2023 is geared to achieve local food security and increasing the strategistock of food commodities
Economy
Bahrain central bank issues e-cheques
The e-cheques will retain all the basic functions, legal validity, and benefits of paper cheques while providing a paperless payment...
- The e-cheques will come into effect on October 19, and will be available through two apps
- They are expected to complement traditional paper cheques, which are a popular payment instrument in Bahrain
Economy
UN calls for ‘transformative action’ on World Food Day
UN Secretary-General Antonion Guterres has called for changes in the way the world produces, consumes, and wastes food. His remarks...
- Around 40 percent of the world — roughly 3 billion people — cannot afford a healthy diet
- The Covid-19 pandemic has left an additional 140 million people unable to access the food they need
Economy
Banking on apps for personal finance
People in the Middle Eastern countries are increasingly relying on apps to manage their money, streamline expenses and other banking...
- TRENDS presents a list of apps that can be used to manage personal finances in UAE and elsewhere in the region, as well as those that can be used anywhere
- Middle East has one of the highest percentages of smartphone penetration in the world
Economy
Brazil’s Paraná emulates UAE to be a logistics hub: Governor
In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his...
- In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his state and the UAE are on an upswing
- In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his state and the UAE are on an upswing
Economy
Saudi non-oil exports post 37% record jump to SR125.3bn
Saudi Arabia’s non-oil exports rose 37 percent to a record SR125.3 billion in the first half of 2021, SPA reported....
- They increase by 8 percent in quantity, equivalent to 34.7 million tons, suggesting a rebound in prices as volumes returned to normal
- Saudi Arabia exported to 170 countries in the first half, led by SR17.0 billion of goods to the UAE
Economy
Egypt’s current account deficit widens in Q1 as imports surge
Egypt's current account deficit widened in the first quarter of the current financial year because of a surge in imports...
- A strong currency helped boost imports to $19.59 billion in the quarter from $13.83 billion a year earlier
- Two years earlier, before the pandemic, Egypt reported tourism revenue of $3.18 billion for the April-June period
Economy
Moody’s changes Oman economy outlook to Stable
Moody’s expects Oman’s current account deficit to decline below 4 percent of the GDP in 2021-23 from more than 13...
- Moody’s said the change ‘reflects the significant easing of pressures on government liquidity and external financing’
- This is said to have come as a result of the ongoing implementation of the Medium-Term Fiscal Plan and a relative rise in oil prices
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UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Company News
Stc to buy assets in Europe
Business
Latest News
UK to test new alert system on mobile phones
Geostrategy
Markets down after Chinese data flops, EU oil prices decline
London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall...
Business
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008),...
Business
Most Read
Business
SRTIP-SOTI merger to boost UAE’s knowledge economy
"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and...
- Merger of SRTIP and SOTI will form an independent Free Zone Authority, enhancing the UAE's knowledge economy and entrepreneurial status
- The merger will unlock the potential of Sharjah's technology and innovation sector and solidify the UAE as a global business and entrepreneurship destination
Geostrategy
Iraqi president presses for closer trade and energy ties with Iran
Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of...
- Iraq's president highlighted the importance of forging closer ties with Iran in a meeting with an Iranian delegation visiting Baghdad
- He applauded Iran for the restoration of ties with countries in the Middle East and the resumption of diplomatic relations with Saudi Arabia
Economy
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of...
- According to its petroleum minister, Egypt will develop fields in the Mediterranean Sea, Nile Delta, and Western Desert to boost its production capacity
- The offshore exploration involves companies such as Eni, Chevron, ExxonMobil, Shell and BP, aiming to drill 35 exploratory gas wells until July 2025