Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
Business
‘WTO champions global trade stability, prosperity’
"It is contributing to raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services"...
Economy
Business
UAE, US strengthening business cooperation
Both countries signed an MoU to strengthen cooperation in areas of digital economy, innovation, and entrepreneurship.
- Minister of Economy Abdullah bin Touq Al Marri and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi
- They met US Secretary of Commerce Gina M Raimondo, in the presence of officials from both countries
Economy
DIC board discusses plans to boost foreign trade
Member companies of Dubai International Chamber will work towards achieving the target of boosting Dubai’s foreign trade to $544bln within...
- Member companies of Dubai International Chamber will work towards achieving the target of boosting Dubai’s foreign trade to $544bln within the next five years
- Dubai International Chamber was established to strengthen partnerships with global corporations, investors and entrepreneurs
Economy
Turkey central bank cuts key rate after Erdogan pleas
The Turkish currency was down around 1.1 percent against the US dollar by 1330 GMT, after the bank announced it...
- The move comes despite high inflation, which reached 19.25 percent in August
- The Bloomberg consensus had been for the rate to be kept stable although one economist predicted a cut of 0.5%
Science
GCC nations eye Hyperloop travel by 2030
It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Gulf Arab...
- It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Arab Gulf states using clean and renewable energy
- The Dubai government owned DP World has granted permit to Virgin Hyperloop to develop the technology in the emirate
Economy
UAE Central Bank to do away with Covid stimulus measures
The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced...
- To leave lower reserve requirements for banks unchanged
- The liquidity in the banking system and banks’ capital buffers remained adequate
Business
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.
- Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
- He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Economy
Non-oil sectors fuel Saudi economic growth
Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real...
- The overall Saudi Arabia's GDP in Q2 of 2021, according to the General Authority for Statistics, has been 1.8 percent
- The robust growth was witnessed in real estate (12 percent), non-oil manufacturing (15 percent), and wholesale, retail trade restaurants, and hotels (16.9 percent)
Business
Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...
- Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
- Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Business
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.
- The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
- He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Economy
Lebanon’s only suicide hotline inundated
There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an...
- There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an exodus of healthcare specialists to treat anxiety, depression and psychosis
- The number of children phoning in has also risen, with people under the age of 18 accounting for 15 percent of callers in July, up from less than 10 percent in previous months
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
Business
Company News
Merck to buy Prometheus
Business
Latest News
Botswana inks new deal with De Beers
GABORONE, BOTSWANA -  Botswana has reached an eleventh-hour deal with diamond giant De Beers after months of tense negotiations that saw...
Business
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...
Economy
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...
Geostrategy
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Economy
France charges Lebanon central bank chief’s ex-assistant in graft probe
A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France....
- Marianne Hoayek was grilled in Paris on Friday and placed under investigation for criminal conspiracy and money laundering
- Salameh has denied any wrongdoing and says he built his fortune when he worked in Merrill Lynch before becoming central bank governor
Economy
MENA region trails in global race for gender parity
The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region...
- The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region will achieve full parity in 152 years, says a WEF report
- Solutions like Gender Parity Accelerators and DEI Lighthouse Program are being implemented, but the path to gender parity remains a challenging one, it adds
Geostrategy
France, UAE share vision to shift towards clean energy
PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision...
- The UAE and his country are working together on low-carbon energy solutions, the French minister said.
- The minister highlighted the rising number of natural disasters globally caused by climate change.