Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...Economy
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...Business Economy Tourism
UAE and South Korea agree to support SMEs, entrepreneurship
Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small...The UAE's Minister of Economy, Abdullah bin Touq Al Marri, noted the strong business and strategic ties between the two countries, which continue to grow on many fronts
South Korean FDI in the UAE, in insurance, mining, energy, real estate, touched US$2.2 billion in 2021, registering a staggering 73 percent growth since the beginning of 2013
US exhorts Tunisia to agree to IMF reforms after EU offer
The EU offered a 900-billion-euro aid package -- contingent on Tunisia reaching an IMF deal. But Tunisian President Kais Saied...It's clear that Tunisia needs additional assistance if it is going to avoid falling off the proverbial economic cliff, US Secretary of State said during a press conference
Italian foreign minister voiced support for IMF package and said that Prime Minister Giorgia Meloni's government wanted to offer money as "the first step" toward reforms
Child labor on the rise for the first time in 20 years
He emphasizes the need to tackle the underlying causes of child labor by eradicating forced labor, ensuring safe and healthy...The root cause of child labor is identified as a systemic lack of social justice, not parental neglect, says ILO's Director-General Gilbert Houngbo
One in every 10 children globally, amounting to 160 million children, are engaged in labor, often at the expense of their education, he adds
UAE and Russia hold talks to eliminate double taxation
Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and...The agreement is designed to provide protection to taxpayers from double taxation and remove bottlenecks on the path of trade and investment
The UAE noted the importance of dialogue in fostering better bilateral relations with Russia, resulting in growth in trade, finance and investment
Dubai leads global FDI in cultural, creative industries in 2022
Dubai, UAE - Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and...The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries
Asian nations, like India and Singapore, are finding their fastest-growing creative industry sectors to be enormous revitalisers of employment figures
Saudi Arabia to provide visitors with instant e-visa to boost travel
Riyadh, Saudi Arabia-- In order to boost the travel and tourism industry in the kingdom, Saudi Arabia will offer instant...The visa on arrival is just the latest step in Saudi Arabia's drive to make it easier for visitors to undertake a trip to the kingdom, boosting arrivals to 100 million by 2030
The Saudi Tourism Authority has adopted digitization increasing accessibility and connectivity for visitors to enter the kingdom and enjoy its natural and cultural diversity
Initiative by Digital Economy Chamber to help firms set up in Dubai
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has announced a...The initiative will provide a comprehensive package of services designed to support tech, digital startups, SMEs, and MNCs.
The chamber’s strategy (2022– 2024) is focused on improving the digital business environment, developing support for digital firms.
Assets of banks in UAE up 2.6% in first quarter to reach $1.02 trillion
In its UAE Monetary, Banking, and Financial Markets Developments Report for Q1, which provides insights into the monetary and banking...Money Supply M1, comprising Currency in Circulation outside Banks and Monetary Deposits, witnessed a 3 percent q-o-q increase during the first quarter of 2023.
At the end of the first quarter of 2023, there were 22 locally incorporated banks, while the branches of these banks decreased to 494.
Sharjah’s Sabaa Sanabel wheat gets Made in the UAE mark
SHARJAH, UAE -Â Sabaa Sanabel wheat flour, made from the wheat produced here, has become the first national product to...Sabaa Sanabel wheat flour has met the highest quality and safety standards in force in the UAE, boosting its competitiveness in the market.
Sabaa Sanabel has obtained five accredited certificates in quality and safety as it does not contain anything that changes its nutritional value.
Pakistan gets first Russian crude under discount deal: PM
Since Russia launched its invasion of Ukraine last year, economic sanctions have seen a significant cut in its oil and...Pakistani State Minister for Petroleum previously said shipments will be paid in currencies of "friendly countries", with Pakistan's US dollar reserves dangerously low
Local media reported the cargo of 100,000 metric tons of oil left Russia a month ago and was split across two smaller ships in Oman before sailing to Karachi
