US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as...
- Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY)...National banks accounted for 86 percent of the total capital and reserves of banks operating in the UAE, which stood at US$102 billion by April-end.
Share of foreign banks in aggregate capital and reserves of banks operating in the UAE settled at 13.6 percent, reaching US$ 16 billion by April-end.
Jeddah, Saudi Arabia -- The Islamic Development Bank (IsDB) and the Agence Française de Développement have signed an agreement to...The MoU was signed by the president of the Islamic Development Bank, Dr. Mohammed Al-Jasser in Vienna.
Al-Jasser said last year that one out of every three member states of the Islamic Development Bank (IDB) is living in poverty.
BRUSSELS, BELGIUM - Eurozone economic activity worsened in June to a five-month low, hit hard by a fall in industrial production,...Inflation remains well above the European Central Bank's target of two percent, which will keep pressure on the ECB to keep raising interest rates.
The eurozone entered a technical recession at the start of the year, according to official figures published earlier this month.
A senior US Federal Reserve official said that additional interest rate hikes are needed to tackle historically high inflation. "I...The Federal Reserve's benchmark now sits in a range between 5.0 and 5.25 percent - its highest level since 2007.
All members of the Federal Open Market Committee predicted that the bank will have to raise its benchmark further before the end of the year.
Months after Musk took over Twitter, Zuckerberg's Meta hinted it was planning to launch its own text-based social media platform...The two men have baited each other for years with opposing views on everything from politics to artificial intelligence.
Musk responded angrily to a recent claim by a Meta official that there was appetite for a "sanely run" Twitter alternative.
ABU DHABI, UAE/ KARACHI, PAKISTAN - AD Ports Group announced on Thursday the signing of a concession agreement with Karachi...Under the terms of the 50-year concession agreement, a Joint Venture has been formed to manage, operate and develop the Karachi Gateway Terminal Limited.
The JV will undertake significant investments in infrastructure and superstructure over the next 10 years, with the bulk of it planned for 2026.
LONDON, UK - The Bank of England on Thursday lifted its key interest rate by a half-point to five percent to...The decision came one day after data showed UK annual inflation remained at 8.7 percent in May, defying expectations of a slowdown.
The half-point lift was in stark contrast to the Federal Reserve, which last week pressed pause on US rate hikes after a sharp easing in the country's inflation.
Abu Dhabi, UAE--The UAE airports have received nearly 31.8 million passengers in the first quarter of 2023, a rise of...In the UAE, the aviation sector contributes, directly or indirectly, to about 14 percent of GDP as against 2 to 3 percent in emerging markets
In 2022, Dubai's airport, one of the busiest in the world, received 66 million passengers, more than double the previous year
- The Turkish leader pushed the central bank to start slashing interest rates two years ago as part of a "new...
Erdogan still defends his markets-defying idea that high interest rates contribute to rising consumer prices that have been Turkey's bane for the past five years
The central bank is expected to change course and raise rates on Thursday after Erdogan appointed a former Wall Street executive to head the institution following his re-election
- Amid continuous divisions plaguing the country, France's new envoy for Lebanon, Jean-Yves Le Drian, landed in Beirut to hold talks...
French President Emmanuel Macron appointed the former foreign minister as special envoy to Lebanon earlier this month
For months, the international coomunity has exhorted Beirut to elect a new leader capable of enacting reforms
