Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
Business
Digital inclusion vital for economic growth: Experts at WEF discussion
DUBAI: An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in...
- An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in 50 percent of developed countries.
- The UAE’s information and communications technology spending is estimated to reach $23 billion by 2024.
Economy
Fed policy tightening not at all bad for Gulf economies: Jefferies
The impending end of super-loose monetary policy from the Federal Reserve will have both positive and negative effects on the...
- A likely strengthening of the dollar, to which Gulf currencies are pegged, may push down inflation, because it makes imports less expensive
- Higher interest rates on dollar-denominated assets tend to lead to outflows from emerging markets
Economy
IMF chief: ‘Did not pressure anyone’ while at World Bank
An independent investigation found that during her time as World Bank CEO, Georgieva was among top officials who pressured staff...
- An independent investigation found that during her time as World Bank CEO, Georgieva was among top officials who pressured staff into changing data to China's benefit
- The bank has since scrapped the report, while the US Treasury called the findings "serious."
Science
UAE reviews food systems transformation at UN
The world must act, and act now, if we are to reach zero hunger by 2030, the UAE’s Minister of...
- There is no more time for planning in the run-up to 2030, which is designated the Decade of Action
- The combined efforts of all actors is necessary for the world to meet the UN’s Sustainable Development Goals
Economy
UN sees $400bn pledge for climate action
The United Nations has called for the world to redouble its renewable energy efforts to avert a climate emergency.
- Governments and the private sector pledged at a high-level summit to spend more than $400 billion on climate efforts
- The amount would also help bring electricity to more of the 760 million people around the world who currently lack it
Analysis
2022 World Cup may help Qatar sustain growth
The projects initiated as part of hosting the tournament include the construction of eight stadiums, Doha Metro Rail, a new...
- Stadiums constructed for the world cup would be later given to local clubs for utilization
- QTA announced new tourism strategy which aims to attract 5.6 million visitors to Qatar annually by 2023
Economy
UAE allots $17.6bn to housing project for Emiratis in Dubai
Dubai ruler and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, has given approval for...
- Land plots allocated to Emirati housing projects in Dubai increased to 1.7 billion square fee
- Sheikh Mohammed issued directives to quadruple the number of Emiratis benefiting from the housing program from next year
Economy
UN starts program to give electricity, water to Lebanon
Helped by the UN, Lebanon will get fuel to keep its healthcare and water-supply facilities for the next three months.
- The plan It is expected to provide fuel to all public hospitals, primary healthcare centers, and dispensaries servicing the most vulnerable communities
- It is also expected to provide fuel to four water establishments to secure continuous water supply to about 2.3 million people across the country
Economy
Lebanon may see complete blackout by month-end
Electricite du Liban, or EDL, is now capable of generating less than 500 megawatts from the fuel it secured through...
- Lebanon has seen worsening shortages of fuel over the past few months
- Power cuts across the country can currently last up to 23 hours a day
Economy
Goldman Sachs says Lebanon’s banking system to suffer $65bn losses
Goldman Sachs, the US investment bank, has estimated that the restructuring of Lebanon’s financial system would leave the crisis-prone banks...
- The investment bank presented a set of macro projections based on the successful implementation of reforms under the auspices of the IMF
- The report believed that the bulk of these losses may fall on the shoulders of the depositors
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
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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 Â -Â The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
Business
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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