Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...Economy
UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...Economy
Dubai Customs processes over 14m transactions in first six months of 2023
DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests.
Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions.
Dubai seeks to unleash high-powered growth for its family business sector
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....The government is introducing initiatives to future-proof family businesses and bolster their competitiveness and growth capabilities in a global environment.
Dubai has introduced new legislative measures aimed at helping them navigate the challenges and opportunities brought by a global economy in transition.
Egypt and Indonesia to ramp up trade exchange
Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties.This came...Both agreed to give a fillip to Indonesian investments in Egypt benefiting from the incentives offered by the Suez Canal Economic Zone
Egypt and Indonesia also reviewed all agreements and memos signed between the two nations over the past years
US Fed likely to hike interest rates to 22-year high
The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health...Futures traders now assign a probability of more than 99 percent that the Fed will hike its base rate by 25 basis points
Some economists predict another rate hike as soon as the Fed's next rate meeting, while others think it could hold rates steady
Qatar records 70% growth in annual FDI between 2019 and 2022
Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just...IPA Qatar said it has succeeded in luring FDI and building a world-class business environment, boosting Qatar's image on the global stage
It has also played a leading role in policy advocacy, making 70 policy recommendations, apart from creating a better business environment
‘UAE committed to global sustainability, job creation’
“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills...About 97 percent of private sector workers in the UAE, including gig and platform economy workers, are insured under local laws, highlights a UAE minister
More than 70 percent of workers are registered in the Unemployment Insurance Scheme, providing temporary financial income for those who lose their jobs
UAE and UN to boost climate action cooperation in run up to COP28
New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action...The UAE delegation noted the country's initiatives in development including government work, capacity building and exchange of expertise
They also discussed opportunities to boost cooperation in international initiatives, maximizing the positive impact of climate action around the world
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon.This was announced in the “Delhi...This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
UAE plays an active role in shaping better future for societies, says minister
NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better...The UAE is also committed to enhancing human resources’ contribution to sustainable development.
The minister applauded all G20 members for “their dedication and commitment to the objectives and vision of the forum.”
Nations look to sign deep sea mining rules by 2025
The member nations of the International Seabed Authority (ISA) agreed on a two-year roadmap for the adoption of deep sea...The ISA Assembly and its 167 member states next week will discuss a "precautionary pause" in mining, supported by about 20 countries
Scientists believe deep sea mining can destroy habitats and species that may still be unknown but are potentially vital to ecosystems
