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
Retail coffee prices rise as frost hits Brazil produce, freight costs go up
Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months
- The Covid-19 which caused shipping logjams has also contributed to cost escalation by pushing the freight costs to record levels
- Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months
Arts & Culture
Saudi borders reopen for vaccinated pilgrims
Authorities in the ministry responsible for coordinating foreign pilgrims will from Monday begin "gradually receiving Umrah requests from various countries...
- Before Sunday's announcement, only immunised pilgrims resident in Saudi Arabia were eligible for umrah permits
- The umrah is a pilgrimage that can be undertaken at any time -- distinct from the hajj, which takes place once annually
Business
Sukuk worth $174.6 billion issued globally in 2020
Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021
- The report said that as of December 2020, over 90 percent of the $648 billion Sukuk outstanding globally were issued from markets like Malaysia, UAE and the others
- Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021
Iraq looks up to IMF for $4bn loan
Iraq is confident about securing a $4 billion dollar loan from the International Monetary Fund (IMF) after it restarted talks...
- International Monetary Fund and Baghdad opened talks last year amid the pandemic as demand shock sent oil prices tumbling
- Iraq also expected to sign agreement with French oil and gas company before current government’s term ends
Economy
Jobs rise for first time in Egypt since 2019
Slight drop in headline seasonally adjusted PMI in July points to minor deterioration in the health of the non-oil sector.
- Slight drop in headline seasonally adjusted Purchasing Managers’ Index in July points to minor deterioration in the health of the non-oil sector.
- Influence of rising raw material prices, fuel costs, wages n cost pressures down in July, says IHS Markit survey.
Arab economies to grow by 2.9% in 2021, 3.6% in 2022: Report
Uneven recovery is expected as eleven Arab countries will likely recover by the end of 2022, while the recovery path...
Bread to cost more in Egypt as govt decides to slash subsidy
Egypt has decided to withdraw subsidy from bread that will make it dearer for a people who have relied on...
UAE’s non-oil economy picks up in July, strongest in two years
Latest IHS Markit UAE PMI says firms hoped easing of COVID-19 restrictions and the Expo 2020 later this year would...
Egypt’s exports shot up 54 percent to $282m in June 2021
Egypt’s exports of engineering products spiked by 54 percent to $282 million in June 2021, compared to $180m in the...
PMI: Saudi non-oil economy expands but challenges ahead
PMI falls for the first time in four months in July. The downgrade driven by weaker growth in output, new...
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
Latest News
UAE airports receive 31.8 million passengers in Q1: CBUAE
Abu Dhabi, UAE--The UAE airports have received nearly 31.8 million passengers in the first quarter of 2023, a rise of...
Economy
In policy about-turn, Turkey to raise rates to fight inflation, steady lira
The Turkish leader pushed the central bank to start slashing interest rates two years ago as part of a "new...
Economy
French envoy to hold talks with Lebanese leaders to end divisions
Amid continuous divisions plaguing the country, France's new envoy for Lebanon, Jean-Yves Le Drian, landed in Beirut to hold talks...
Geostrategy
Most Read
Economy
UAE banking system maintained stable funding in Q1 of 23: CBUAE
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has noted with satisfaction the persistent credit appetite of...
- The apex bank noted the strong liquidity and funding positions of the UAE banking system in the first quarter of 2023, supported by strong deposit growth
- It revealed that the net NPL ratio moderated from the peak during the Covid-19 pandemic to 2.9 percent in Q1, showing a rise in credit growth and a fall in NPLs
Economy
Dubai International Chamber opens new office in Johannesburg
Dubai, UAE - Dubai International Chamber, one of the three chambers operating under Dubai Chambers on Wednesday marked the official...
- The new office further strengthens the UAE’s growing trade links with Africa and will seek to boost the level of bilateral investments between Dubai and South Africa
- A total of 777 South African companies were registered with Dubai Chamber of Commerce by the end of 2022, representing growth of 77 percent since 2016
Business
TAQA to buy SWS Holding
The energy company will pay US$462 million for the buyout.
- TAQA will pay 50 percent of the amount on completion of the deal and the remaining 50 percent will be paid a year later
- The acquisition is expected to add some US$4.35 billion to TAQA's exisiting regulated asset value of approximately US$20.42 billion