Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
WTO agri reforms key to global food and climate goals
"Australia maintains that global food security, climate, and biodiversity targets are unattainable without progress in agricultural trade reform, including the...
Economy
Expo 2020 DUBAI
Israel’s Expo pavilion mirrors warming ties with UAE
The visits of several Israeli ministers so far show the importance the Jewish state attributes to the event.
- The future of Israel-UAE relations depends on how they are affected by major flareups over Jerusalem or other aspects of the Israeli-Palestinian conflict.
- The UAE has become one of Israel's top twenty trading partners in 2021. Food security, agriculture tech and water management are key areas of partnership.
Economy
IMF reaffirms ‘full confidence’ in head Georgieva
The IMF board said it "considered that the information presented in the course of its review did not conclusively demonstrate...
- An investigation by law firm WilmerHale has concluded that the Bulgarian economist manipulated data in favor of China while in a senior role at the World Bank
- WilmerHale's controversial findings center on the drafting of the 2018 and 2020 editions of the World Bank's report ranking countries according to their ease of doing business
Business
Is Binance moving headquarters to Dubai?
The world’s largest cryptocurrency exchange recently registered three companies in Ireland and is currently setting up several regulatory companies worldwide....
- Binance CEO Changpeng Zhao, according to sources, may move the operations of the world’s largest cryptocurrency exchange from Seychelles to the UAE city.
- The cryptocurrency exchange is banned by several governments, while other countries are open to investigations into allegations such as market manipulation
Economy
Saudi eyes $100bn yearly in foreign investment as part of Vision 2030 plan
The NIS is expected to raise annual FDI flows to $103.47 billion and increase annual domestic investment to $286.33 billion...
- The National Investment Strategy is expected to increase annual domestic investment to 1.7 trillion riyals by 2030
- The strategy will be ‘a key enabler; of the Vision 2030 plan, announced in 2016 to diversify the economy of the world's biggest oil exporter
Infographics
Qatar, Saudi Arabia lead GCC in education spend
Qatar and Saudi Arabia lead the GCC countries when it comes to spending on education.
- Qatar has in absolute terms spent more per capita for education than any GCC nation since 2016
- However, when it comes to absolute totals and the share of the GDP spent on education, Saudi Arabia leads the pack
Economy
Natural experiments bring Nobel Prize to three US economists
Card’s studies of core questions for society and Angrist and W Imbens’ methodological contributions have shown that natural experiments are...
- One half has been awarded to David Card “for his empirical contributions to labor economics,” which is rooted in natural experiments
- The other half is for Joshua D Angrist and Guido W Imbens, “for their methodological contributions to the analysis of causal relationships”
Expo 2020 DUBAI
Now an ad from the lowest place on the Earth
The new ad posted on the Twitter handle of the Israeli Pavilion at Expo 2020 Dubai has been videographed in...
- New ad of Israeli Pavilion at Expo 2020 has been shot in the middle of The Dead Sea
- It is an imitation of the Emirates’ ad from the top of 828-metre-high Burj Khalifa
Economy
Power partially restored in Lebanon after nationwide blackout
Lebanon's electricity grid was back online Sunday after the army supplied fuel to two key power stations that had run...
- Energy Minister Walid Fayad said Sunday that the grid was back up and running
- Lebanon has witnessed rolling power cuts across the country since the end of its 1975-1990 civil war
Business
Business confidence in Dubai reaches third-highest level in 10 years: Survey
Business confidence in Dubai reached its third-highest level in 10 years as companies in the emirate begin to feel the...
- A survey by Dubai Chamber said companies in the emirate begin to feel the positive impact of Expo 2020.
- Global supply chain restrictions were identified as a key challenge for business leaders.
Economy
Iran needs $22bn to maintain gas output
Iran’s Oil Minister Javad Oji has reportedly said the country requires at this investment to maintain the production level of...
- About 50 percent of Iran's gas reserves are in Bushehr province
- This is true for about 10 percent of the country’s oil reserves as well
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
Company News
Stc to buy assets in Europe
Business
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UK to test new alert system on mobile phones
Geostrategy
Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution
London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution. The MoU...
Economy
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months....
Business
OPEC’s energy ministers back crude output cut by Saudi Arabia, Russia, Algeria
Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for...
Business
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Economy
Total direct, indirect economic impact of re-exports is $13bn: UAE minister
Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the...
- Al Zeyoudi said that the re-exports are a vital sector for the country's economy, as the UAE is one of the largest re-export centers in the world
- He added that mobile phones and their accessories were the largest single sector for re-exports in 2022 followed by diamonds, mass transit vehicles and jewelry
Economy
Qatar Airways’ profits fall
Its net profit dropped 21% to US$1.21bn in 2022-2023.
- The airline posted profit fall in spite of the rise in revenues to $21 billion and passenger numbers going up 71 percent to 31.7 million for the year
- The carrier flew some 1.4 million fans to Qatar for the World Cup and yet the airline did not give any explanation for the lower profits in the fiscal year
Business
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...
- All eyes later will be on the release of minutes from the US Federal Reserve's June policy meeting.
- The minutes will be followed Friday by closely-watched US jobs data, a key guide to the state of the world's top economy.