What are the needs and challenges of an ageing workforce?
Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...Economy
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...Economy
Iran, Djibouti resume diplomatic ties after 7 years
Iran announced the restoring of diplomatic ties with Djibouti over seven years after it joined other regional nations in severing...The move followed Iranian foreign minister Amir-Abdollahian's meeting with his Djiboutian counterpart Mahamoud Ali Youssouf in New York.
Djibouti cut ties with Iran in January 2016 after attacks on Saudi missions during protests over Riyadh's execution of a Shiite cleric.
China to control half the world’s hydrogen electrolyser capacity
China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...China's installed electrolyzer capacity has jumped in recent years and is expected to reach 1.2 gigawatts after having accounted for just 10 percent of the global capacity in 2020
Electrolyzers are devices used for the industrial separation of hydrogen and oxygen within water molecules, using electricity obtained through renewable energy sources
Egypt’s central bank keeps interest rates unchanged
Cairo, Egypt – The Central Bank of Egypt (CBE) decided to maintain interest rates at current levels during its meeting...The bank kept the overnight deposit rate, overnight lending rate and the rate of the main operation at 19.25%, 20.25% and 19.75%, respectively
The discount rate remained at 19.75%. The pause on interest rate change comes after 12-percent hikes since March 2022.
ITFC collaborates with Turk Eximbank for providing joint loan of US$277m
JEDDAH, SAUDI ARABIA - The International Islamic Trade Finance Corporation (ITFC), which is a member of the Islamic Development Bank,...This collaboration aims to enhance trade volume among the member states of the Organization of Islamic Cooperation.
The loan aims to support the development of small and medium enterprises' exports as well as private sector companies in Turkey.
Ajman’s exports rise 19 percent in H1 2023
AJMAN, UAE – The Ajman Chamber of Commerce and Industry (ACCI) has revealed that the volume of exports from the...Ajman’s total exports reached US$1.2 billion in H1 2023, compared to US$1.1 billion during the same period in 2022.
Ships and boats topped the list of exported products, followed by mineral oils, fish and steel products.
Stocks fall after Federal Reserve says it may hike interest rates
Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...In a move dubbed a "hawkish hold" by analysts, the Fed held borrowing costs but indicated another hike is likely in 2023 to tackle US inflation.
Sweden's Riksbank and Norway's Norges Bank each raised their key interest rates by a quarter-point.
RAKEZ team wraps up roadshow to boost trade in China’s Guangdong province
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ), led by Group CEO Ramy Jallad,...The RAKEZ delegation aims to foster deeper ties with local enterprises, prominent trade associations and key government entities.
The delegation hosted business forums across Guangzhou, Shenzhen and Dongguan cities, highlighting the prospects of the Middle East market.
Syria’s Bashar Al-Assad visits China seeking funds
China becomes one of only a handful of countries outside the Middle East that Assad has visited since the 2011...The Syrian President arrived Thursday in the eastern city of Hangzhou, where he will attend the opening ceremony of the Asian Games on Saturday
Asad's Air China plane was greeted on the tarmac by jubilant music and rows of performers wearing colourful costumes, as Chinese and Syrian flags flapped in the sky
GCC countries hold interest rates following US Fed decision
Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...The US Federal Reserve, on Wednesday, voted to keep interest rates at a 22-year peak, suggesting that these rates might need to persist at these highs to tame inflation.
The CBUAE will continue to set the rate for short-term liquidity borrowing at 50 basis points above the Base Rate.
Turkey expected to hike interest rate to 20-year high
The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote...Erdogan called high rates "the mother and father of all evil" and spent years pushing the central bank to lower borrowing costs to speed up economic growth
Inflation rate approached 60 percent in August and is climbing much faster than projected by Erdogan's new economic team of former Wall Street executives
