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...
Turkish resort frets over second lost summer
Tourists have stayed away from Bodrum due to the pandemic In 2019, Bodrum airport welcomed a record 4.34 million tourists...
Protests in Lebanon as currency plunges
Lebanese protesters try to storm central bank offices in two major cities Money changers tell AFP that the pound was...
Egypt economy to grow 5.2% in 2021-22
The IMF has completed the second review of Egypt’s economic reform program allowing the authorities to draw about $1.7 billion...
Traditional airports need to become ‘smart’
Smart counters reduce waiting time, queues, waiting time at passport control, security check, duty-free and other outlets Online check-in by...
Oman launches investment residency scheme for foreigners
The residency period is for a renewable period of five or 10 years Low oil demand and pandemic have hit...
Bahrain to allow travelers with Covid-negative tests
*Bahrain to allow some travelers into the country, but bar many *Citizens of red zone countries like India, Pakistan, Sri...
Bahrain’s FDI inflows reach $1 billion in 2020
*Though global FDI contracted by 35 percent, Bahrain's inward FDI stocks increased 3.3 percent to reach $31.7 billion in 2020...
Abu Dhabi announces updated list of ‘green’ destinations
*Passengers from Green List destinations only need PCR testing upon arrival at Abu Dhabi Airport *Green List countries will be...
Upbeat sentiments driving UAE stocks
A total of Dh1.235 bn in deals were conducted in ADX while DFM saw Dh212 million in deals Emaar Properties...
4 French executives charged with spying on opposition Libya, Egypt figures
The former chief of Amesys, Philippe Vannier, was charged in Paris last week with "complicity in acts of torture" Olivier...
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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
Presight stock jumps 143%
Business
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Phase out fossil fuels to avoid climate catastrophe
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...
Economy
Pause, hike, cut: Central banks diverge over regional challenges
The Bank of Japan (BoJ) has gone against the grain set by the Fed and ECB, announcing on Friday that...
Siemens to expand business
BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand...
Business
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Business
Audi Middle East achieves 33% sales growth in first 5 months of 2023
DUBAI, UAE : In the first five months of 2023, Audi Middle East achieved a 33 percent growth compared to...
- This success is bolstered by Audi's strategic partnerships and investments in electric vehicle infrastructure across the Middle East.
- Audi's EV portfolio now features an extensive range of models, spanning sports cars, sedans, hatchbacks, and the SUVs.
Business
Tawuniya Q1 2023 net profit $20m
Insurance services results in Q1 improved by US$55 million.
- The growth in revenues were offset by an increase in claims incurred and attributable expenses by US$172 million.
- Tawuniya booked additional risk adjustments of US$10 million in Q1 2023 and additional acquisition costs of US$18 million.
Economy
European Central Bank raises rates for eighth consecutive time
The hike was the highest since 2001, despite a darkening economic outlook. The ECB increased rates by another 25 basis...
- Like all central banks, the ECB has to walk a fine line in raising interest rates sufficiently to dampen demand and contain inflation, without provoking a sharp economic slowdown.
- The ECB also slightly raised its inflation outlook, predicting it will reach 5.4 percent in 2023, 3.0 percent in 2024 and 2.2 percent in 2025.