GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...Economy
Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...Economy
Borders, culture strengthen Iran-Pakistan relations
"The economies of Iran and Pakistan are inherently complementary. For example, Pakistan can be a supplier of Iran's needs in...Iran and Pakistan have taken effective measures to expand their economic relations in recent years
Two new border terminals have been opened along the common border between Iran and Pakistan
Interest rate raise ‘likely’ to curb inflation, says Fed official
A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further,...Federal Reserve governor Michelle Bowman's prepared remarks to an event in Colorado also came after a mixed employment report.
She would be seeking "consistent evidence" that inflation is on a meaningful path down toward the Fed's two percent target.
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors.The collaboration...The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships
Protests mark Beirut blast anniversary as justice eludes victims’ families
Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...There is no headway in the probe three years on, leaving survivors still yearning for answers
Many protestors carrying photograpsh of the victims shouted slogans: "We will not forget"
Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce
Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...According to FANR 2022 annual report, the body continues to attract talented Emiratis to meet its business needs, recruiting 22 citizens during the review period
The report said that women comprise of more than 45 percent of FANR's overall workforce and hold leadership positions in key areas of the organisation
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.
UAE 2023 growth prospects face least risk in Middle East, Africa
Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...The GCRI risk score in the MEA region has increased continuously for six quarters until Q1 2023, signaling a deteriorating situation.
UAE, Saudi Arabia, Kuwait and Qatar are among the top five low-risk countries in the region, while Syria, Libya and Yemen are among the 10 high-risk countries.
Saudi capital market institutions post record 2022 net income
Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase...The retained profits in capital market institutions reached a record high of SAR 60.34 billion, an increase of 39.17 percent.
The profits of capital market institutions surged to highest ever SAR 12 billion due to a 26 percent increase in revenues in 2022.
Empower H1 2023 revenue at $333m
The company’s EBITDA in H1 2023 was US$178 million.In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.
