Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...Business Economy
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...Economy
Jordan secures US$1.9bn in foreign aid amid dire global economic conditions
Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...Speaking at a forum, Jordan's minister of planning spoke of the kingdom's financial landscape and how it interacted with global economic trends
The minister also underscored the kingdom's collaboration with international financing entities that offer affordable funding to Jordan's private sector
Saudi Arabia’s archeologists make ‘significant’ discoveries at Al Abla site
Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the...The archeologists discovered features of residential and industrial units with gypsum-coated walls and floors
They found hammerstones, grinders, and pairs of quern stones in various sizes and forms, and shards of pottery
UAE-Hungary Political Consultations Committee discusses boosting cooperation
Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the...Officials from the two countries reviewed the expanding relations and discussed ways to boost opportunities in order to ramp up economic and trade ties
The UAE ambassador had a series of meetings with senior officials, intellectuals, and cultural figures intended to deepen relations between the two countries
DP World to invest $510m to develop mega-container terminal in India
New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate...DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai
With the addition of the Tuna Tekra terminal, the company will have a combined capacity of 8.19 million TEUs
AI risks repeating social media mistakes, says Microsoft president
NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...AI tools have shown in recent months the ability to generate essays, create realistic images, mimic voices of famous singers and even pass medical exams
But there are also worries that chatbots could flood the internet with disinformation, that biased algorithms will churn out racist material
US Federal Reserve prepared to raise interest rates further
The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down...After 11 rate hikes in less than 18 months, the US benchmark lending rate now sits at a range between 5.25 and 5.5 percent - its highest level for 22 years.
The rapid cycle of interest rate increases has failed to definitively quash inflation, which remains stuck above the Fed's long-term target of two percent.
Lebanon central bank declines to address nation’s deficit through lending
Beirut, Lebanon -- Acting Lebanese Central Bank Governor Wassim Mansouri has said the bank will not be providing government lending...Acting Lebanese Central Bank Governor Wassim Mansouri said it will apply to both Lebanese lira and US dollar.
Mansouri assured that public sector employees would receive their wages for the current month in US dollars, with an exchange rate set at 85,500 liras.
Borouge’s PP5 unit generates $209m sales in H1 2023
ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...Demand for products made from polypropylene is set to rise in the coming decades thanks to its versatility and recyclability.
Polypropylene market in Asia, Africa and the Middle East is valued at $10 billion and is predicted to grow by 5.5 percent annually.
Algerian, South African ministers discuss ways to boost economic cooperation
JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...The two ministers discussed the available opportunities to enhance trade exchange between Algeria and South Africa.
The aim of trade exchange and joint investment is achieving sustainable development in the region.
Iraq and Turkmenistan reach preliminary agreement on gas import
Baghdad, Iraq - Iraq has signed a preliminary agreement with Turkmenistan to import gas. The agreement signed by the undersecretary...Turkmenistan is known for its status as a key gas producer regionally and globally
The country’s natural gas reserves are estimated at 50 trillion cubic meters
