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
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Expo 2020 DUBAI
Dubai Expo 2020 to attract 25 million business, tourist visits
The full expo site has opened its doors to exhibitors from almost 200 countries.
- The full expo site has opened its doors to exhibitors from almost 200 countries
- The event was chosen eight years ago to follow the 2015 Expo in Milan, Italy, and cost around $6.8 billion
Business
ADNOC Distribution will pay $350 million H1 interim dividend to shareholders
DUBAI: ADNOC Distribution has announced AED1.285 billion ($350 million) as an interim dividend payment to shareholders for the first six...
- This is the first payment in what is expected to be a full-year 2021 dividend payment of AED 2.57 billion.
- The company has set a minimum of AED2.57 billion dividend for 2022.
Business
Oman looks to tap Brunei for cooperation
Oman’s Foreign Minister Sayyid Badr Hamad Al Busaidi and Brunei Darussalam’s Second Foreign Minister Dato Seri Setia Haji Erywan bin...
- During the meeting, the ministers stressed on their keenness in promoting cooperation in various fields, especially in areas of joint investments
- They also exchanged views on regional and international matters of common interest
Economy
Seamless Middle East 2021 held in Dubai
The event, sponsored by the Arab League and organised by Terrapinn, was held at the Dubai World Trade Centre.
- The event, sponsored by the Arab League and organised by Terrapinn, was held at the Dubai World Trade Centre
- Participants in the event included a number of international institutions and organisations, such as Harvard University, the UN and the World Bank
Expo 2020 DUBAI
US Pavilion to inspire ‘spirit of freedom’: Commissioner General
Robert Clark praised the UAE for transforming “the sands of the desert into a thriving World’s Fair site, complete with...
- Robert Clark praised the UAE for transforming “the sands of the desert into a thriving World’s Fair site, complete with spaces for 192 nations to connect
- Clark added that the USA Pavilion will welcome millions in-person and online
Expo 2020 DUBAI
Kuwait Expo 2020 pavilion will be ‘biggest’ in terms of size and activities, says director
DUBAI: Kuwait's participation at Expo 2020 Dubai is "biggest" in terms of pavilion size and range of activities, the pavilion's...
- The Kuwaiti pavilion, which has been designed to resemble water tower structures commonly found in the country, is constructed on an area of over 5,500 square meters.
- A total 200 government and private bodies representing diverse sectors are set to contribute to the booth over the coming six months.
Business
Digital transformation helps GCC banks prosper
Digital transformation brought about by COVID-19 has made banks more open to branchless and cashless banking enabling them to perform...
- Tech adoption amidst COVID-19 makes regional banks more open to branchless and cashless banking enabling them to manage better in H1 2021 than they did in 2020
- The margins of the regional banks were under pressure throughout 2020 and early this year, but they managed to stay afloat by reducing costs and improving efficiency
Expo 2020 DUBAI
Breathtaking start of Expo 2020 Dubai
Dubai opened its extravagant Expo 2020 on Thursday with a flashy ceremony boasting fireworks and lights displays as it attempts...
- The event kicks off a six-month world fair attended by more than 190 countries
- The Expo venue is alive with music, dance, drama and projections with its star-studded opening ceremony
Business
Cash-strapped Lebanon names team for International Monetary Fund talks
The team -- Deputy Prime Minister Saade Chami, Finance Minister Youssef Khalil, Economy Minister Amin Salam and central bank governor...
- The country is facing what the World Bank has described as one of the world's worst economic crises since the 1850s.
- After defaulting on its debt in March 2020 for the first time in history, Lebanon started talks with the IMF.
Economy
Kuwait to push for more private sector jobs in order to reduce state wage bill
Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The...
- The move comes as the Middle Eastern country seeks to reduce its public sector wage bill, which accounts for approximately 60 percent of the government’s budget
- A study will also be conducted to identify high-priority jobs to attract national labor early next year
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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
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
Company News
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US first quarter economic growth 2 percent after strong consumer spending
Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department...
Economy
US Federal Reserve calls for better supervision of banks
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...
Business
EU presses Tunisia in bid to stem Med migrant flow
In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to...
Most Read
Economy
Gulf oil states on a charm offensive across South Pacific
The Pacific bloc represents 12 of 55 votes in the United Nations' Asia-Pacific region, which also includes Saudi Arabia and...
- Saudi Arabia and the United Arab Emirates - two of the world's biggest crude oil producers - have been ramping up efforts to shed their reputations as global climate laggards
- Both have been lavishing money and attention on small, isolated and often indebted Pacific nations, where rising sea levels are already creeping up on low-lying coastal communities
Economy
Price monetary policy tools strong in managing public funds: Iraq official
Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public...
- The advisor to the Iraqi PM said that the budget's financing methods primarily involve Iraqi dinars in exchange for foreign currency
- He further noted that the strength of monetary policy and foreign reserves stand at their highest level in the country's financial history
Economy
World Bank approves $1bn for Turkiye’s earthquake reconstruction
Ankara, Turkiye - The World Bank has announced its approval of $1 billion in financing to assist Turkiye in the...
- The bank highlighted that the financing will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure
- The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside