Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...Economy
US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...Economy
Iran summons UK envoy to protest new sanctions: state media
The new British sanctions regime will expand existing penalties imposed by creating new criteria under which individuals and entities can...Foreign Secretary James Cleverly said sanctions against Iran over alleged human rights violations and hostile actions against its opponents on UK soil will expand
Iran's foreign ministry considered the statements and positions of the British authorities as well as the recent sanctions... as an illegal and interventionist action
UAE commits $15m to rebuild Palestinian city of Jenin after Israeli attack
Dubai, UAE - The United Arab Emirates (UAE) pledged on Thursday $15 million to support the rebuilding efforts in the...The funds will be channeled through the UNRWA to aid the organization's operations and extend assistance to affected Palestinian families
The UAE's decision to provide aid to Jenin could be seen as an effort to strengthen its relations with the Palestinian Authority
Rise in unemployment affects Saudi women the most
The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by...The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by a notable increase among women to 15.7%, according to an official report
In Q1, Saudi Arabia witnessed a 0.5% drop in youth unemployment, while joblessness among those aged 25-54 rose to 7.8%, adds the report of Saudi General Authority for Statistics
Lebanon central bank officials to quit if no governor nominated
BEIRUT, LEBANON - The vice-governors of Lebanon's central bank plan to resign unless politicians swiftly name an incoming governor, two senior...The term of embattled three-decade chief Riad Salameh ends this month with no successor in sight, setting the stage for a leadership crisis.
"Unless the political class names a successor, the vice-governors will resign before (Salameh's) mandate ends" on July 31, an official said.
Energy prices may jump if output slashed, warns Shell CEO
LONDON, UK - Shell's chief executive told the BBC on Thursday that cutting gas and oil output would be "irresponsible" because...The official warned that strengthening demand from China and cold winter weather in Europe could send energy prices and bills surging.
Domestic electricity and gas bills sky-rocketed after key energy producer Russia invaded neighboring Ukraine early last year.
Dubai logs over $871m in realty transactions on Thursday
DUBAI, UAE - Dubai's real estate market recorded 669 sales transactions worth US$792 million (AED2.91 billion) on Thursday, data released...DLD said 134 mortgage deals totaling US$73 million and 89 gift deals amounting to US$27 million.
The sales included 567 villas and apartments worth US501 million and land plots worth US$294 million.
Iraq join Egmont Group of financial intelligence units
BAGHDAD, IRAQ - Iraq joined the Egmont Group of Financial Intelligence Units, the Supreme Judicial Council announced."The efforts made by...The membership, "concerns the exchange of information between the financial investigation units for combating money laundering and financing terrorism."
Egmont Group provides support to member states by enhancing secure communication between financial investigation units
Qatar Central Bank’s foreign reserves up 14 percent in June
Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion...The official reserves consist of major components, which are foreign bonds and bills, cash balances with foreign banks and gold holdings.
Qatar's gold reserves increased, as of the end of June 2023, by about QR 8.617 billion to reach QR 20.853 billion.
UN report confirms success of UAE investment endeavors: Al Marri
"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in...UAE received the fourth largest number of greenfield projects (997), behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2022.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade said the report confirmed the UAE’s position as a "compelling destination for global capital".
UAE Dirham can be third currency for India-Russia Trade, says Russian economist
New Delhi, India - Russian academic Sergey Luzyanin has suggested that the United Arab Emirates' Dirham could be considered as...Sergey Luzyanin shed light on Russia's need for a third currency option due to concerns over the volatility of the Indian Rupee
The need for a third currency arises as Russia continues to face Western sanctions imposed after its involvement in Ukraine
