GCC central banks hold rates steady, following US Fed
The Central Bank of the UAE kept the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40%, aligning...Economy
Dubai job hunt: Tips for success in the city of opportunity
Dubai, UAE - The UAE was recognized as the top destination for international professionals seeking employment visas. According to the...Economy
US hiring eases in March as economy shows signs of cooling
US job gains eased in March for a second straight month, government data showed, adding to signs that the economy...The figures could bring some relief to policymakers who have been battling to rein in stubborn inflation.
To ease demand, the Federal Reserve has lifted the benchmark lending rate nine times since early last year.
World food prices fall for 12 consecutive months, says UN
World food prices are still high but have fallen by a fifth compared to a year ago when prices soared...FAO said the fall in benchmark prices was "driven by declines in world quotations for cereals and vegetable oils."
The UN agency added that food remained expensive for developing countries highly dependent on imports.
Number of SMEs in UAE reaches 557,000 by end of 2022: Minister
Dubai, UAE -- A total of 557,000 small and medium enterprises (SMEs) were operating in the UAE at the end...Minister of Economy Abdullah bin Touq Al Marri said the number was in line with UAE’s ambitious plan to achieving 1 million SMEs by the end of 2030.
The UAE banks provided AED 83.3 billion ($23 billion) in financial facilities to small and medium-sized enterprises in 2022.
World warms to Bridgetown Initiative on climate change ahead of WB, IMF meetings
Experts say developing nations are struggling to find the funds needed to stop burning planet-heating fossil fuels and prepare for...The IMF has created a new loan-based Resilience and Sustainability Trust to help poorer or vulnerable countries boost sustainable growth
The World Bank says it delivered a record $31.7 billion last year to help countries tackle climate change and has started to draft a roadmap for change
UAE’s global merchandise trade crossed $1trn mark in 2022: WTO
Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...Exports grew 41 pecent to $599 billion in 2022, accounting for 2.4 percent of the global merchandise exports share
The UAE ranked 11th in terms of exports of commodities and was the 18th importer of global merchandise goods trade
UAE’s health sector witnesses digital transformation
The Gulf country has an influential and effective international presence and continues to fulfil its obligations in enhancing the efficiency...The UAE supports digital transformation, artificial intelligence, and big data in healthcare worldwide, says UAE's Minister of Health and Prevention
The country ranked first in the world in 14 health indicators in 2022, adds Abdul Rahman bin Mohammad bin Nasser Al Owais on World Health Day
Economic crisis, Ukraine war impact Arab currencies
The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while...The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth
Economic challenges, the strengthening US dollar, and the ongoing Russian-Ukrainian war have all played a role in the recent currency fluctuations
UAE, Vietnam begin process for economic partnership pact
Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...The UAE is the leading trade partner of Vietnam in the Arab region, accounting for 39 percent of Vietnamese trade with the region’s countries.
The two sides discussed ways of strengthening their cooperation in the areas of trade, investment, the new economy, industry and energy.
Kais Saied denounces IMF bailout conditions as ‘foreign diktats’
The IMF was originally expected to approve a bailout deal on December 19, but that was delayed pending a Tunisian...Saied said that the foreign diktats of IMF will lead to more poverty which is unacceptable.
Saied's government reached an agreement in principle in mid-October for a nearly $2 billion package from the IMF.
‘Global growth to fall below 3 percent in 2023’
A continued slowdown in almost all the world's advanced economies is expected to drag global growth below three percent this...Global growth almost halved last year to 3.4 percent as the impact of Russia's invasion of Ukraine rippled through the world economy.
Asia's emerging markets are expected to see substantial increases in economic output with India and China to account for half of all growth.
