China says will fight to ‘bitter end’ if US pushes trade war
Pressure from Trump could motivate Beijing to strengthen the kinds of support for the economy seen last year -- interest...Economy
Asian stocks rise as Powell rate warning taken in stride
Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell...Economy
Dubai Taxi Corporation unveils digital transformation plan 2022-2025
Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of...The plan aims to achieve a string of goals underscored by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future
The latest initiative by Dubai Taxi Corporation looks to protect its database and monitor systems to prevent disruptions caused by server downtime
Russia’s BSGI exit causes global food price hike: Blinken
Washington, United States - Russia's withdrawal from the Black Sea Grain Initiative (BSGI) has led to a surge in global...Top US diplomat highlighted that over half of the grain from the Black Sea Grain Initiative was directed towards developing countries
Condemning the use of food as a weapon of war, he said that 91 countries have signed a declaration at the UN opposing such tactics
UAE launches finance strategy to boost government performance
Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance...Sheikh Maktoum bin Mohammed said the UAE will develop and implement sustainable financial policies to promote economic growth.
The plan comprises three strategic goals, six main projects, four main goals and seven additional directives.
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology.
This firm will help bolster Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year
UAE Corporate Tax: Relief measures for SMEs
Abu Dhabi, UAE - The UAE has unveiled a series of relief measures to support the growth and prosperity of...Only profits exceeding AED 375,000 are subject to the 9% corporate tax
Only 50% of entertainment expenses are deductible against taxable profits
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...Inflation was fueled by the increase in most of the main groups making up the consumer price index and the prices of the food and non-alcoholic beverages
The prices of oils and fats rose by 4. 81%, fruits by 4.3%, other foodstuffs by 3.91%, bread and cereals by 2.34%, and non-alcoholic beverages by 0.67%
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.
