Economy - TRENDS MENA

Washington, United States--Syria's economy is expected to contract 2.3% more than it otherwise would have due to the impact of last...
The World Bank said that the damage from earthquake will cost the Syrian economy $5.2 billion, including physical damages of $3.7 billion and losses of $1.5 billion
It added that the quake effect is likely to widen Syria's economic contraction by 2.3 percent to 5.5 percent this year, worsening economic woes in the war-scarred nation
New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was...
India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with its member countries
As a trade bloc, the GCC is the largest trade partner of India with a total trade of US$154 billion during the last financial year
Brussels, Belgium--The European Investment Bank today pledged $535 million in earthquake reconstruction and recovery package for Turkey and Syria at...
The reconstruction package is meant to restore basic living standards for more than 1.7 million refugees hit by the earthquake
It will focus on Turkish regions devastated by the earthquake and is designed to enhance support for restoration of basic infrastructure
SRC is looking to expand its refinancing portfolio.
SRC said that the agreement is the latest in a series of similar deals to support mortgage financiers and originators
It will provide liquidity, capital management, and balance sheet de-risking solutions to enhance real estate financiers’ capacity
The UN has confirmed that Yemen's Houthi rebels and its internationally recognized government have reached an agreement to exchange more...
According to UN special envoy to Yemen Hans Grundberg, the parties "agreed on implementation plans to release 887 conflict-related detainees from all sides"
It is almost a year since the Houthis said they had agreed to a prisoner swap that would see 1,400 rebels freed in exchange for 823 pro-government fighters
The New Companies Law simplifies the procedures to set up foreign businesses in Saudi Arabia, and removes several restrictions, says...
The New Companies Law simplifies the procedures to set up foreign businesses in Saudi Arabia, and removes several restrictions, James Swallow of PRO Partner Group tells TRENDS
Since the new law's implementation, there has been considerable interest from companies to operate and invest in the Kingdom, says Swallow, adding that is generating employment
Days after SVB's collapse this month, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced that its...
In the 2008 financial crisis, authorities spared shareholders and bondholders, said David Smith, professor of commerce at the University of Virginia
But "there's no bailout" this time in the sense that officials are protecting depositors rather than shareholders and bondholders, Smith said.
Firm said non-monetary factors played a role in earnings.
Western powers have imposed sanctions against Russia due to the Ukraine war.
Rosneft said that the profit level forms a solid basis for paying dividends.
UN Secretary General Antonio Guterres called on wealthy countries to move up their goals of achieving carbon neutrality as close...
Most rich countries have set their goal at 2050 but some are more ambitious, like Finland (2035), or Germany and Sweden (2045).
Leaders in emerging economies must commit to reaching net zero as close as possible to 2050, he said without naming any specific nation.
FRANKFURT, GERMANY - The European financial system is "resilient" and has sufficient liquidity, the European Central Bank said Monday, as banking...
Switzerland announced that UBS would buy Credit Suisse for $3.25 billion, in a bid to prevent economic turmoil from spreading.
ECB, European Banking Authority, EU's Single Resolution Board said they welcome the actions of the Swiss authorities to ensure financial stability.