The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...Economy
India, Iran sign 10-year agreement to develop port project
Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...Economy
SCA and UBF sign MoU to strengthen UAE’s asset management industry
Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation...The MoU looks to set up the UAE as a major attraction for asset and wealth management corresponding with the government's aspirations for the next 50 years
Both the parties, under the terms of the MoU, resolved to cooperate and share expertise and studies aimed at improving the local asset management sector
Bahrain secures 9th spot in survey for best expat destinations in world
Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report...Respondents perceived Bahrain to be the country where a visa could be secured easily, and a bank account could be opened without a hassle
The survey is one of the world's biggest expat polls based on data from more than 12,000 expats from 171 countries, scattered across the world
Jordan and Japan review economic, strategic relationship
Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two...The Jordanian minister noted the "importance" of Japanese investments and their role in transfering advanced technology to the kingdom
Jordan's exports to Japan, according to the Department of Statistics, amounted to $87 million, while imports from Japan touched $348 million
Saudi-Turkish Business Forum kicks off in Istanbul with signing of 16 agreements
Riyadh, Saudi Arabia - The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements...The forum is a collaboration between the Federation of Saudi Chambers of Commerce and the Foreign Economic Relations Board of Turkiye
The forum was attended by the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail, and the Turkish Minister of Trade, Omer Bolat
GCC, API sign MoU to establish framework for cooperation
Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...The MoU is expected to contribute to the development of the local working force in the GCC through cooperation in several areas
GCC secretary general applauded API for supporting Arab organizations and institutions in all their forms with projects and ideas
Most world stock markets advance as US inflation data looms
London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data.London equities...London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks.
Frankfurt and Paris also advanced before the week's main event, the US consumer price index, which forecasts suggest will show a further softening.
Broadcom to acquire VMware after EU okays deal
BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain.
As a remedy, Broadcom offered interoperability commitments to rival Marvell Technology and any other potential competition.
OECD says sizeable progress made on sharing tax revenue on multinationals
Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational...Multinationals, especially tech firms, are currently able to easily shift profits to countries with low tax rates.
In 2021, in talks led by the OECD, an agreement was reached on a minimum tax rate of 15 percent on multinationals.
Pakistan gets $1 billion boost from UAE ahead of key IMF decision
The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to...Inflation has rocketed, the rupee has plummeted, and the country is struggling to afford imports, causing a severe decline in industrial output.
Securing financial support from friendly nations has been a key condition of the IMF for approving a new standby deal for Pakistan worth $3 billion.
Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.
