UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...Economy
UAE banking sector looks poised for continued growth in 2024
Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...Economy
Zain KSA posts record profit
The company's profit vaulted 157% to US$147m in 2022.The company's revenue jumped from $2.10 billion in 2021 to $2.40 billion in 2022, propelled by growth in business-to-business, 5G and other revenue streams
The telecom operator invested $244 million in 2022 in order to develop the quality of services provided to its clients
Fed in dilemma over inflation, financial stability
"It appears that the Fed has not learned from the mistakes of the 1980s. Throughout much of the 1970s, the...If the US Federal Reserve had implemented an increase of more than 25 basis points, it could have triggered further instability
The Fed must learn from the past mistakes and proceed with caution to avoid financial instability, says deVere CEO Nigel Green
UAE-Israel free trade deal to take effect on April 1
The customs deal is viewed as the concluding phase of a free trade agreement following the normalization of relations between...The Israeli foreign ministry in a statement said the free trade deal would see customs duties "lowered or cancelled on approximately 96 percent of goods"
Last year trade between the UAE and Israel touch $2.5 billion, excluding software and services, making the Gulf country Israel's 16th largest trading partner
DEWA, UAE energy ministry discuss cooperation for clean energy goals
DUBAI, UAE - MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating...DEWA’s current capacity has reached 490 Million Imperial Gallons per Day of desalinated water.
DEWA is also working to increase the capacity of the transmission and distribution networks.
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
IMF chief: another ‘challenging year’ ahead, risks to financial stability up
Even with a better outlook for 2024, global growth will remain well below its historic average of 3.8 percent, she...Policymakers have acted decisively in response to financial stability risks, and advanced economy central banks have enhanced the provision of U.S. dollar liquidity, she said.
IMF research shows that productivity-enhancing reforms in China could lift real GDP by as much as 2.5 percent by 2027, and by around 18 percent by 2037.
Morocco stun Brazil 2-1 in first ever win over five-time world champions
Tangiers, Morocco--Morocco stunned Brazil 2-1 in a friendly international on Saturday as the north African side recorded a first ever win...Sofiane Boufal, midfielder, gave Morocco the lead after 29 minutes, scoring with a powerful turn and drive from a pass by Bilal El Khannous
Casemiro, Brazil skipper, levelled the score in the 67th minute when his weak shot was fumbled by goalkeeper Yassine Bounou
Kuwait’s never-ending political crisis hurts economy
It suffers from constant stand-offs between elected lawmakers and cabinets installed by the ruling Al-Sabah family, despite a parliamentary system...Kuwait, home to seven percent of the world's crude reserves, has little debt and one of the strongest sovereign wealth funds in the world
The oil-rich country, posting large deficits during the Covid-19 pandemic, was buoyed by the rise in oil prices last year
Jordanian club holds workshops to train people in art of comedy
The new comedians hoping to put a smile on Jordanian faces range in age between 18 to 40 and include...The Amman Comedy Club has been training aspiring comics since 2019 and offering free, three- to four-month workshops in stand-up, improv, comedy sketches and satire writing
Aided by foreign institutions such as the Konrad Adenauer Foundation and Chicago-based comedy club The Second City, the ACC has already trained more than 140 people in Jordan
Turkey stops handling oil exports from Kurdistan region: Iraq
The Iraqi oil ministry said that Turkey stopped oil exports from Iraq's autonomous Kurdistan region on Saturday in the wake...Iraq had initiated the proceedings against the neighboring country in 2014, claiming exclusive rights over Kurdistan's oil exports
The regional government in Arbil though, in defiance of Baghdad, continued to export oil through Turkey at a rate of around 450,000 barrels a day
