China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...
Economy
GCC, OPEC boost ties to stabilize global oil markets
During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...
Economy
Economy
IMF to decide ‘very soon’ on whether Georgieva keeps her job
The IMF Executive Board is reviewing last month's investigation by the law firm WilmerHale that found that during her time...
- An investigation by a law firm has concluded that she manipulated data in favor of China while in a senior role at the World Bank.
- On Thursday Georgieva, 68, said she hoped for an "expeditious resolution" of the case
Economy
S&P says global debt could reach about 260 percent of GDP by end of 2021
Global debt levels could reach about 260 percent of gross domestic product (GDP) by the end of 2021, though low...
- Higher leverage and weakened credit metrics amid the recovery will probably trigger more defaults
- The recovery won’t be complete until vaccinations are widespread enough to make people more comfortable to move about
Economy
Didn’t reject 2016 IMF report: Lebanon central bank chief
A Swiss newspaper claimed Riad Salameh struck out 14 pages of a 2016 IMF report that warned of economic crisis...
- Lebanon’s central bank Governor Riad Salameh denied he once rejected portions of an International Monetary Fund report
- Swiss newspaper Le Temps said in an article that Salameh struck out 14 pages of the report because it warned of an economic crisis in Lebanon
Business
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp.
- FedEx Express will invest more than SAR1.5 billion ($400 million) into the Saudi economy over the next 10 years
- This investment will be through talent management as well as local operations and infrastructure
Business
$1.93 billion worth of weekly realty transactions made in Dubai
Real estate and property transactions worth AED 7.1 billion ($1.93 billion) were recorded in Dubai during the week ending October...
- A plot of land sold for AED 33 million in Hadaeq Sheikh Mohammed Bin Rashid.
- The highest number of transactions, valued at AED 126.61 million, were recorded in Al Hebiah Third.
Business
Brazil plans to attract 1 million tourists from Middle East by 2024
Brazil's tourism minister has said the country is planning to attract about a million tourists from the Middle East in...
- Brazil is in touch with Emirati officials for operating more direct flights to Amazon and northeast regions, says tourism minister.
- Annual outbound and inbound tourist traffic from Brazil to the Middle East is around 125,000 and 120,000 respectively at present.
Economy
Dubai set to achieve clean energy targets by 2050
It is the Emirate’s goal to meet three-fourths of its energy requirements with clean sources, which would make it a...
- The Dubai Electricity and Water Authority (DEWA) has attracted US$10.89bn investments from the private sector and foreign banks
- It is the Emirate’s goal to meet three-fourths of its energy requirements with clean sources, which would make it a global hub for clean energy and a green economy
Economy
World Bank sees ‘uneven, tenuous’ Mideast recovery
The region’s per-capita GDP is forecast to grow by only 1.1 percent this year after declining by about 5 percent...
- The World Bank said the pandemic had seen the region’s economies shrink by 3.8 percent in 2020
- This in part due to public health systems’ lack of preparedness to deal with the health crisis
Economy
Jordan talks economic cooperation with Denmark
Jordan’s Minister of Planning and International Cooperation Nasser Shraideh, have held discussions with Danish Minister of Development Cooperation Flemming Mortensen...
- Jordan has called on Denmark to increase the support it gets, and focus on economic and employment opportunities programs
- Denmark said it is ready to continue supporting Jordan and searching for additional ways to strengthen bilateral relations
Economy
UAE announces Net Zero by 2050 strategic initiative
The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
- The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
- The Ministry of Climate Change and Environment will lead and coordinate efforts to execute the initiative
Most Read
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
China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...
Economy
Company News
Glaxo buys Bellus for US$2bn
Business
Latest News
Ericsson Q1 net profit at $155m
Business
51% techies satisfied with their pay in Middle East
Middle Eastern technology professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and...
Economy
Jordan medical, pharmaceutical exports see 30% growth in first 5 months of 2023
AMMAN, JORDAN - The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
Business
Most Read
Economy
Confront inconvenient truths to fight global inflation
"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and...
- Stubborn inflation is linked to factors such as tight labor markets, strong wage growth, and pent-up demand, despite hikes in interest rates, says an IMF official
- Monetary policy strategies and tools like forward guidance and quantitative easing may require adjustments to handle these risks effectively, adds Gita Gopinath
Geostrategy
Violence and looting rage in France after police shot teenager
Nanterre, France--Sporadic violence and looting hit several cities across France in a fourth night of protests after the fatal police shooting...
- In the wake of the death of 17-year-old Nahel at a traffic stop in Paris, France has deployed 45,000 officers backed by light armored vehicles to quell violence
- The violence set off by the killing of Nahel has brought out into the open longstanding grievances about policing and racial profiling in the country's multi-ethnic suburbs
Economy
Jordan’s exports to non-Arab Asian countries climb to US$1.16bn in Q1
Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the...
- The kingdom's exports to the Greater Arab Free Trade Area increased by 1 percent in Q1 of 2023 to touch $1.14 bn as against $1.13bn in the same period of the last year
- Its exports to the American Free Trade Agreement countries rose by 2.6 per cent in Q1, touching nearly $898 million, compared to $876 million for the same period last year