Economy - TRENDS MENA

As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...

Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest...
According to CBUAE, the investments showed a year-on-year growth of 16 percent as against $129 billion in March 2022
The stock investments hit $3.26 billion in March, a jump of nearly 0.8 percent from around $3.21 billion in December 2022
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi – KEZAD Group on Friday announced the signing of a land...
This would be the first such manufacturing facility in the Middle East and is expected to be operational towards the end of 2024.
By partnering with Tubacex Group, KEZAD aims to further increase the localization and resilience of supply chains.
WASHINGTON, US - The world's largest cryptocurrency exchange Binance said it was halting US dollar deposits and encouraged clients to withdraw...
Binance is alleged to have permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange.
Binance has criticized the govt's actions, saying that it will continue to vigorously defend ourselves and customers against the SEC attacks.
The UK government said it would scrap a windfall tax on the energy sector should oil and gas prices drop...
The government said it would return to 40 percent should average Brent North Sea oil fall to, or below, $71.40 per barrel for two quarters in a row.
Should prices remain above historical norms, the windfall tax would remain until October 2028 as previously announced.
Dubai, UAE - After welcoming 14.36 million visitors in 2022, a 97 percent Year-over-Year (Y0Y) growth when compared to 7.28...
Tourists have visited the UAE at an increased rate and Dubai has drawn most of them
The city alone welcomed six million tourists in the first four months of this year
Expectations the Fed will stand pat next week -- for the first time since starting its hiking cycle last year...
But news of a forecast-busting jump in jobless claims for last week -- to the highest since October 2021 -- cemented the belief officials will pause until next month.
All three main US indexes ended higher, with the S&P 500 entering a bull market after rising more than 20 percent from its October low.
Hafize Gaye Erkan -- whose appointment was published in the official gazette on Friday -- has taken over the post...
Erkan, a former co-CEO First Republic Bank and managing director at Goldman Sachs, will be the first woman to head the central bank
Turkish president unveiled a new cabinet on Saturday appointing Mehmet Simsek, a former Merrill Lynch economist, as finance minister
Abu Dhabi, UAE - The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) rose to more...
Statistics showed that bank transfers and customer transfers conducted in the period under review stood at $674.32 billion and $329.90 billion respectively
Statistics also noted that March was the busiest month with dirham-denominated transfers standing at $397.82 billion
Switzerland's parliament will probe the government-orchestrated takeover of the stricken Credit Suisse bank by larger rival UBS. A parliamentary commission...
The commission will examine "the legality, opportunity and effectiveness of the activities" of the Swiss authorities in the takeover.
The commission will be composed of 14 lawmakers - seven from each house of parliament - with all major parties represented.