Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
UAE’s economy rides on tech and renewable energy
"The UAE's dedication to innovation and international partnerships as vital to enhancing its position on the global economic stage, bolstering...
Economy
Economy
Sudan inflation eases for first time under transition
The inflation rate was recorded at 387. 56 percent (year-on-year) in August, compared to 422.75 percent in July
- The inflation rate was recorded at 387. 56 percent (year-on-year) in August, compared to 422.75 percent in July
- Sudan has long been reeling from economic crises that deepened after the ouster of autocrat Omar al-Bashir in April 2019
Business
Kuwait’s Burgan Bank gets approval to issue $500m senior bonds
Kuwait's Burgan Bank has been allowed to issue up to $500 million senior unsecured bonds under its Euro Medium Term...
- The bank said the proceeds from the bond issuance will help it reinforce its long-term liquidity.
- The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with redeem option.
Economy
Dubai 11th popular city for investment visa programs, second for Covid safety
Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...
- Dubai scored highest overall in the index in the tax category.
- The emirate was second on the index for Covid-19 safety.
Business
UAE’s non-oil trade weathers pandemic to reach $371 billion in 2020
DUBAI: The UAE's non-oil trade rose to AED 1.403 trillion ($371 billion), reflecting the country's robust trade exchanges despite the...
- Imports have hit AED 785 billion, accounting for 56 percent of total merchandise trade.
- China was UAE's main trading partner with the bilateral trade value reaching AED174 bn.
Analysis
The Grand Renaissance Dam: Egypt’s Nile nemesis
Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.
- Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
- Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.
Geostrategy
UAE, Israel eye trillion-dollar business
The UAE marks one year since normalising ties with Israel today as the leaders hope the Abraham Accords could reap...
- The economic benefits have come quickly for the UAE and Israel after the US-brokered Abraham Accords
- Both have signed a series of deals ranging from tourism to aviation and financial services
Geostrategy
Abu Dhabi crown prince, Macron discuss bilateral ties
The two leaders discussed bilateral relations, investment opportunities, economy and culture, as well as other vital sectors, to drive sustainable...
- The two leaders review regional developments, which is likely to include Afghanistan
- The UAE has set up an air bridge to deliver tonnes of aid to Afghanistan
Economy
Lebanon to order central bank forensic audit soon
Lebanon's outgoing finance minister Ghazi Wazni has told reporters that auditing firm Alvarez & Marsal would be signed on within...
- Central bank governor Riad Salameh is already under the scanner for his alleged role in Lebanon’s economic crisis
- The former Merryll-Lynch banker is also being investigated by French authorities over money-laundering charges
Economy
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.
- For Kuwait, Finance Minister and Minister of State for Economic and Investment Affairs Khalifa Hamadah signed the memorandum
- World Bank’s Regional Director for Saudi Arabia and the Arab Gulf Countries, Esam Abo-Sulaiman was the co-signatory
Business
Shipping industry evades gloom, makes big money
The pandemic might have battered other sectors of the world economy, but the shipping industry has raked in revenues not...
- Jump in earnings has been caused due to a 333% hike in shipping cost
- The hike in cargo charges, however, has raised the specter of inflation around the globe
Most Read
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
Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
Company News
SoftBank to sell Alibaba stake
Business
Latest News
LVMH posts Q1 revenue of $23.1bn
Business
Most markets rise but traders fret interest rate hikes, Russia situation
The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country...
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
Economy
International Security Alliance seizes drugs worth US$750mn in global operation
Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
Geostrategy
Most Read
Economy
Qatar and Iran agree to deepen ties in labor sector
Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities,...
- The two sides discussed bilateral cooperation in labor affairs, including the adoption of occupational standards and labor inspection in establishments
- Qatar, according to its labor minister, has emerged as a leader in labor market reforms after a series of legislative changes to the country's labor laws
Economy
Top Abu Dhabi firms to attend Europe’s asset and wealth management conference
Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management...
- Set to take place in Monte Carlo, Monaco, it is considered to be the largest asset and wealth managment conference in Europe
- The forum will be an opportune platform for Abu Dhabi companies to showcase their accomplishments and engage with industy players
Economy
UAE national banks provide $11bn in financing to commercial, industrial sectors
Dubai, UAE - National banks in the UAE have increased their credit financing to the business and industrial sectors by...
- The data reveals that the UAE banks provided a total of $201 billion to the business and industrial sectors by April 2023
- Traditional banks were the primary source of credit financing for these sectors, providing $184 billion or 82.5 percent of the total