WTO chief insists global trade body still counts
WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the...
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...
Business
Bitcoin jumps above $50,000
The unit climbed around two percent to $50,249.15, its highest since mid-May.
- The cryptocurrency has now risen more than 70 percent from the six-month lows below $29,000 touched in June
- Bitcoin was tumbling on a range of issues including China's crackdown on cryptocurrencies since mid-May
Business
ADNOC emerging as UAE’s FDI magnet
Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East...
- ADNOC has set its eyes on developing green hydrogen and blue ammonia products.
- The company plans to spend $122 billion between 2021 and 2025 to develop its businesses.
Ajman Chamber, China’s Dahua explore tech investment opportunities
The two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
- The two discussed opportunities for cooperation to support multinational companies in the Emirate of Ajman
- Dahua is a leading Chinese tech solutions provider specialising in video surveillance products, data security, alarms, motion sensors and access control
Currency war in Yemen opens up a gulf in riyal values
Alongside a grinding seven-year military conflict, Yemen's government and the Huthi rebels are locked in battle on another front --...
- Both the government and the Iran-backed Huthis used the same notes until late 2019 when the rebels banned new banknotes printed in government-run Aden
- The resulting difference in money supply has since seen the riyal's value plummet to around 1,000 to the dollar in government areas
Prices at pump soar in Lebanon after new subsidy cut
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
- The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
- Dire shortages have seen Lebanon's people struggle to find enough fuel to drive to work
Economy
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...
- Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
- By 2030, the country expects to enhance its airport capacity by 30 percent
Economy
Arabs seek freelance jobs as economy recovers
Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first...
- Number of people who obtained a freelance employment document reaches 631, 518
- The ministry also said most freelancers are aged between 20 and 30 years old, with most of them working in graphic design, marketing and advertising, and family businesses
Economy
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.
- Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
- 504-km-long chairlifts, waterfalls, hotel among other projects.
Analysis
New GCC wealth drives private banking
Private banks cater to the complex banking needs of the Ultra High Net Worth Individuals and High Net Worth Individuals...
- Saudi UHNWI population has grown by 227 percent since 2016, the fastest growth rate globally over this period.
- Private banking yields returns up to 30 percent annually, but more typically are in the 7-13 percent.
Economy
Lebanon unlivable as economic, fuel crises deepen
Residents line up for days to get gas, while electricity only runs for 2 hours a day
- Lebanon’s energy crisis is dragging people to unlikely places in their desperate quest for life’s essentials
- Residents line up for days to get gas, while electricity only runs for 2 hours a day
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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
WTO chief insists global trade body still counts
WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the...
Company News
Lufthansa to sell catering unit
Business
Latest News
Gross banks’ assets up $1.03trn at end of April 2023: CBUAE
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) announced on Tuesday that the Money Supply aggregate M1...
Economy
‘EU acknowledges, appreciates Qatar’s labor reforms’
The EU also lauds the exceptional execution of FIFA 2022 in Qatar. It helped refine Qatar's reputation and correct misconceptions....
Economy
Turkey raises minimum wage by 34% to tackle inflation
Ankara, Turkey - Turkish government has announced a 34 percent increase in the monthly minimum wage, effective from July 1. ...
Most Read
Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
- CBUAE says balance sheet increased YoY to US$33 billion against US$138 billion at the end of April 2022.
- CBUAE has US$72 billion for cash and bank balances in April, along with reserved investments to the tune of US$55 billion.
Geostrategy
Riyadh faces Rome and Busan in race to host World Expo 2030
Paris. France -- The candidature of Saudi Arabia (for Riyadh), South Korea (Busan) and Italy (Rome) for World Expo 2030...
- At the 172nd General Assembly of the BIE, Member States were presented with the findings of Enquiry Missions carried out by the BIE to assess the candidature projects for Expo2030.
- Riyadh's bid for Expo between 1 October 2030 and 31 March 2031 is under the theme “The Era of Change: Together for a Foresighted Tomorrow”.
Business
Arada’s US$500m Sukuk lists in Nasdaq Dubai
DUBAI, UAE - Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada...
- This marks Arada’s first listing in the UAE, following its Sukuk listing last year on the London Stock Exchange.
- Arada has embarked on projects worth US$10 billion under development in Sharjah and Dubai.