Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...Economy
Stablecoins and DeFi drive crypto market’s renewed growth: report
The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a...Economy
Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution
London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution.The MoU aims...The agreement will enable the two countries to explore areas of cooperation in monitoring the environment, marine life, biodiversity and safety from pollution
Both Bahrain and the UK, under the terms of the MoU, will exchange scientific and technical information, visits, training, research and cooperative projects
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months.Speaking...The Iranian minister made the remarks at the second ministerial session of the 8th OPEC International Seminar in Austria
He said Iran was producing 3.8mn barrels of crude oil and gas condensates and more than one billion cubic meters of gas a day
OPEC’s energy ministers back crude output cut by Saudi Arabia, Russia, Algeria
Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for...Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August
Saudi Arabia and Algeria are among OPEC's 13 member states, and Russia is one of the organization's 10 allies
UAE is focused on uniting parties in a COP that delivers for all: Al Jaber
Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing...Al Jaber was addressing the conference of the heads of government of the Caribbean Community (CARICOM) in Trinidad and Tobago
The minister felt that donor countries need to be nudged in order to deliver the US$100 billion pledge that they made over a decade ago
Total direct, indirect economic impact of re-exports is $13bn: UAE minister
Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the...Al Zeyoudi said that the re-exports are a vital sector for the country's economy, as the UAE is one of the largest re-export centers in the world
He added that mobile phones and their accessories were the largest single sector for re-exports in 2022 followed by diamonds, mass transit vehicles and jewelry
Qatar Airways’ profits fall
Its net profit dropped 21% to US$1.21bn in 2022-2023.The airline posted profit fall in spite of the rise in revenues to $21 billion and passenger numbers going up 71 percent to 31.7 million for the year
The carrier flew some 1.4 million fans to Qatar for the World Cup and yet the airline did not give any explanation for the lower profits in the fiscal year
Markets down after Chinese data flops, EU oil prices decline
London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall...All eyes later will be on the release of minutes from the US Federal Reserve's June policy meeting.
The minutes will be followed Friday by closely-watched US jobs data, a key guide to the state of the world's top economy.
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008),...In West Asia, FDI fell by 14 per cent to $48 billion, despite strong activity in greenfield projects and cross-border Mergers and Acquisitions (M&S).
Global foreign direct investment (FDI) flows in 2022 declined by 12Â percent to $1.3Â trillion, after nosediving in 2020 and rebounding in 2021.
Turkey’s inflation rate slows to 38.2 percent in June
According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by...Many economists are warning that inflation will start growing faster because of the spending pledges made by President Erdogan during May's election
Since Erdogan extended his rule into a third decade in a hard-fought runoff election on May 28, the lira has lost more than 23% of its value against the dollar
SRTIP-SOTI merger to boost UAE’s knowledge economy
"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and...Merger of SRTIP and SOTI will form an independent Free Zone Authority, enhancing the UAE's knowledge economy and entrepreneurial status
The merger will unlock the potential of Sharjah's technology and innovation sector and solidify the UAE as a global business and entrepreneurship destination
