Developing countries paid $1.4 trillion to service their debts in 2024
The poorest countries paid out more than $96 billion to service their debts, the Bank announced in its latest report...
Economy
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
Business
e& buys stake in Vodafone
It bought a 9.8% stake for $4.4bn in the British firm.
- Formerly known as Etisalat, the company has acquired around 2,766 million shares in Vodafone Group
- The transaction comes in line with the telecom company’s efforts to become a global player in the field and increase its exposure to international markets
Geostrategy
Tributes pour in after passing of Sheikh Khalifa
Tributes continue to pour in from around the world after the UAE announced the death of its president, Sheikh Khalifa...
- US President Joe Biden said Sheikh Khalifa was 'a true partner and friend of the United States'
- 'The EU honours his legacy & leadership under which the UAE became frontrunner of sustainable development & economic diversification'
Business
Asian equities gain after turbulent week of trading
Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, but analysts said the outlook remained...
- The Federal Reserve last week announced its largest rate hike since 2000 to slow surging inflation and signaled that similar increases were likely in the coming months
- Cryptocurrencies also saw great volatility this week
UAE President Sheikh Khalifa passes away at 73
The UAE has announced 40 days of mourning with flags at half-mast from Friday, with work suspended in the public...
- "The Ministry of Presidential Affairs condoles the people of the UAE and the Islamic world... on the passing of Sheikh Khalifa bin Zayed Al-Nahyan on Friday, May 13"
- Sheikh Khalifa took over as the UAE's second president in November 2004, succeeding his father as the 16th ruler of Abu Dhabi
Economy
Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion
Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
- Exports grew by 35 percent in the first three months of the year compared to the same period of last year to reach AED24.449 billion.
- Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Economy
Oil, stimulus packages revive Arab world’s growth
The growth rate of Arab economies is expected to increase to around five percent in 2022 on the back of...
- The GCC countries' growth rate is expected to hit 5.8 percent in 2022, up from 3.1 percent in 2021
- In 2023, the Arab countries as a group are predicted to develop at a rate of around four percent
Business
Technology helps GCC health insurance get stronger
All this can be achieved by integrating automation, providing transparency, customizing services whenever required. Also, insurers are moving towards segmentations...
- Apart from digitalization and emerging technologies, insurers are extensively leaning on data sources to drive coherence, strengthen cybersecurity, and improve customer experience
- All this can be achieved by integrating automation, providing transparency, customizing services whenever required.
Business
Finland firm scraps nuclear plant deal with Russia
Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear...
- The proposed 1,200-megawatt Russian-designed reactor was to be built in Pyhajoki, about 100 kilometres (60 miles) from the port of Oulu in northern Finland
- Two days before Russia's invasion of Ukraine, the Finnish government had said it was re-evaluating the security risks for the 7.5-billion-euro deal
Business
UAE reaffirms support to workers’ rights
The UAE has reaffirmed its support for workers' rights on the Workers' International Day. Dr. Abdulrahman Al Awar, Minister of...
- The Minister made the statements as he visited Al Naboodah Labour Accommodation in Al Awir, Dubai, on the occasion of the International Workers' Day
- "The UAE's celebration of the Workers' International Day is reflective of the State's respect for all workers on the Emirati soil"
Geostrategy
Libya’s rival government meets for first time
Libya's rival government selected by parliament in the east met for the first time Thursday, challenging a cabinet brokered by...
- "We are keen to carry out our work as the legitimate Libyan government emanating from the legislative authority," Bashagha said
- The rival adminstrations are the latest political split since the fall of dictator Moamer Kadhafi in 2011
Developing countries paid $1.4 trillion to service their debts in 2024
The poorest countries paid out more than $96 billion to service their debts, the Bank announced in its latest report...
Economy
Company News
BP issues upbeat Q1 outlook
Geostrategy
Latest News
Unemployment rate nearly 80 percent in Gaza, says United Nations
Geneva, Switzerland -- The war in Gaza has seen the unemployment rate in the besieged Palestinian territory surge to nearly 80...
Geostrategy
Israel ‘prepared for very intense operation’ on Lebanon border
Jerusalem, Undefined -- Israeli Prime Minister Benjamin Netanyahu said Wednesday that Israel was "prepared for a very intense operation" along the...
Geostrategy
Qatar signs 27-year gas supply deal with Chinese Petroleum Corp
Qatar will supply four million tons of gas a year under the deal, QatarEnergy said in a statement, without disclosing the...
Business
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Geostrategy
More than half of Gaza structures destroyed or damaged: UN
Geneva, Switzerland -- Some 55 percent of all structures in the Gaza Strip have been destroyed, damaged or possibly damaged since...
- The analysis showed more than 137,000 buildings affected, UNOSAT, the United Nations satellite analysis agency, said on X.
- Within Deir Al-Balah, the Nuseirat municipality suffered the greatest number of newly damaged structures during that period, at 1,216, UNOSAT said.
Business
Oil prices fall as OPEC+ plans to unwind output cuts later this year
Oil prices slipped after Saudi-led OPEC and its Russian-led allies said Sunday they would maintain output levels but begin to...
- European natural gas prices meanwhile jumped more than 10 percent after the closure of a pipeline linking key producer Norway with Britain.
- Stock markets, meanwhile, mostly rose on renewed hopes for US interest-rate cuts. Among stock markets, European indexes were broadly higher and Wall Street saw gains at the open.
Geostrategy
Gaza mothers search for milk as malnutrition hits amid Israeli siege on aid
Deir El-Balah, Palestinian Territories -- Amira al-Taweel scoured pharmacies in northern Gaza for milk to feed her child but could not...
- At least 32 people, many of them children, have died of malnutrition in Gaza since the war broke out on October 7 following an unprecedented attack by Hamas on Israel.
- On Saturday, the World Health Organization said that more than four in five children had gone a whole day without eating at least once in 72 hours.