Finland, UAE eye collaborations in clean technologies
"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...
Economy
UAE allocates $5m to WTO’s Women Exporters In Digital Economy Fund
Dubai, UAE – United Arab Emirates on Sunday allocated $5 million to a $50 million fund launched Sunday ahead of...
Economy
Economy
Amanda Staveley: Public face of Newcastle’s Saudi takeover
She has made a lucrative career as an intermediary for wealthy Gulf-based investors looking to invest in Europe through her...
- She has made a lucrative career as an intermediary for wealthy Gulf-based investors looking to invest in Europe through her company, PCP Capital Partners
- An indication of the circles in which she moves is the rumour that she once turned down a marriage proposal from Prince Andrew, Queen Elizabeth II's third child
Arts & Culture
NFTs take Mideast art world by storm
An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought...
- An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online
- They include data about the artwork or item, such as the artist's name, the date it was sold, and the buyer's identity
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
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Finland, UAE eye collaborations in clean technologies
"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...
Economy
Company News
Latest News
Kuwait calls for border talks with Iran over gas field
KUWAIT CITY, KUWAIT - Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready...
Geostrategy
OPEC+ strives for market balance, sustainable growth
The international oil bloc’s technical team constantly monitors variables in global oil markets and presents its recommendations to the ministerial...
Economy
Investcorp buys stake in SEC Newgate
Investcorp buys majority stake in SEC Newgate for $100m.
Business
Most Read
Business
Saudi Arabia extends 1mbpd oil cut, Russia slashes exports
The cut which first took effect for July will continue in August and "can be extended", the Saudi Press Agency...
- The move leaves daily production by the world's biggest oil exporter at approximately nine million barrels per day.
- Alexander Novak, the Russian deputy prime minister responsible for energy policy said Russia will voluntarily reduce its oil supply in the month of Aug by half a million bpd.
Yellen to visit China, raising need to ‘responsibly manage’ ties
In Beijing, Yellen will discuss how the United States views its economic relationship with China, a senior Treasury official said...
- Yellen is expected to discuss with her counterparts the importance for both countries to responsibly manage our relationship, communicate directly about areas of concern
- Yellen's planned July 6-9 trip comes just weeks after Secretary of State Antony Blinken met China's top leader President Xi Jinping and Foreign Minister Qin Gang in Beijing
Business
ACWA Power okays dividend
The shareholders approved to distribute an 8.3% dividend.
- The shareholders also endorsed the buyback of two million shares, to be earmarked for the employee stock incentive program
- From the date of the EGM approval, the repurchased shares will be kept no longer than seven years and then allocated to employees