World Bank estimates damage to Gaza infrastructure at $18.5bn
The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...Economy
Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...Business Economy Global
Sharjah group to discuss trade boost with India in five-day trip
SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday...The delegation will visit Mumbai and New Delhi, setting up business forums and arranging meetings with Indian business communities.
The delegation will highlight the benefits and opportunities of investing in Sharjah, detailing the incentives and facilities available.
Energy minister leads UAE delegation to development road conference in Iraq
ABU DHABI, UAE - Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei headed the UAE delegation to the...The one-day conference brought together transport ministers and officials from the Gulf Cooperation Council, Iran, Turkey, Syria and Jordan.
The huge infrastructure project will link southern Iraq to the border with Turkey from where it will connect to rail and road networks in Europe.
US leaders finalize deal on debt ceiling week before default
President Joe Biden and Republican leader Kevin McCarthy announced a deal to raise the debt ceiling, dragging the United States...Republican speaker McCarthy said there was still "a lot of work to do, but I believe this is an agreement in principle that's worthy of the American people."
US President Joe Biden said the deal was "good news for the American people, because it prevents what could have been a catastrophic default.
EDB, Paraguay’s Development Finance Agency ink MoU to boost collaboration
ABU DHABI, UAE - Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement of...EDB and AFD will leverage their outstanding capabilities and professional expertise in agritech financing.
The two firms will share their experiences in financing SMEs and providing smooth and flexible access to capital.
Iraq budget vote delayed as Kurds oppose amendments on oil
In a country where political agreements are concluded after endless negotiations between political parties, the objection of the Kurds is...Iraqi Kurdistan's Prime Minister Masrour Barzani said Saturday the budget amendments amounted to "treason" and an affront to Iraqi Kurdish rights
Iraq's oil dependent economy has traditionally been plagued by budget delays, which the government's three-year proposal aimed to avoid
In drought-hit Tunisia eco-friendly farming takes root
New methods such as permaculture are especially useful in Tunisia where an unprecedented drought has parched the countryside and left...The Tunisian Association of Permaculture's "Plant Your Farm" project aims to create 50 micro-farms over five years, of which around 30 are already up and running
To help Tunisia's new eco-farmers sell their organic produce and spread the word on permaculture, the association has promoted farmers' markets and created a "citizen food" label
Iraq warned to end oil addiction in order to avoid ‘intensive care’
Iraq looks to have renewable energies cover a third of its electricity needs by 2030 and has signed several contracts...Baghdad will "diversify the economy" in the next 10 years, said Muzhar Saleh, economic adviser to Iraq's prime minister
To initiate reforms needed to achieve "green growth", the World Bank estimates Iraq must spend $233 billion, spread out until 2040
Sharjah set to hold second UAE-China Tyre & Auto Parts Expo
Sharjah, UAE--More than 130 auto and tyre companies from China will take part in the second edition of the "UAE...According to Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, the exhibition is expected to become the most sought after platform for auto-industry stakeholders
The expo will showcase the latest arrivals in auto parts and accessories, tire and battery products, automotive electronics and maintenance equipment
Several Western states seeking division between OPEC members: Raisi
Tehran, Iran-- Urging OPEC member countries to preserve cohesion and unity among them, Iran's President Ebrahim Raisi said that several...Raisi, citing the history of good relations with OPEC, expressed his country's desire to continue strengthening the cooperation with it
Haitham al-Ghais applauded the Islamic Republic's effort, both at ministerial and technical level, to strengthen the cohesion and unity of OPEC members
Global investment in clean energy to rise to US$1.7trn: IEA
Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set...According to the IEA report, investment across the globe in clean energy technologies is vastly outpacing spending on fossil fuels
With solar in the forefront, low-emissions electricity technologies are expected to account for almost 90% of investment in power generation
