UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...Economy
IMF predicts soft landing for global economy, yet growth remains muted
Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course...Economy
Macron urges Lebanon to ‘get rid’ of leaders blocking reforms
"The problem with Lebanon is that we must solve people's problems and get rid of those who cannot do it,"...Macron has taken the lead in international efforts to bail out the Lebanese economy after a collapse in the value of the Lebanese pound plunged most of the population into poverty.
International lenders have demanded that Lebanon adopt a programme of painful economic reforms in return for releasing billions of dollars in bailout loans.
Iraq tells visiting Italy PM it seeks closer economic ties
Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from...Italian oil firm Eni has been involved in exploration and production in Iraq for over a decade.
The United Nations says Iraq is one of five countries most exposed to some impacts of climate change.
FAB, Magnati, PayRow join hands
The move will help Dubai in becoming a cashless economy.Government entities and merchants will now be able to receive payments from their customers in an easy, flexible, unified and secure manner.
The new payment ecosystem is set to transform the existing gateway.
Nearly 78% UAE women-owned businesses led by females under age 40
Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a...The survey found that of the 1,000 female business owners who took part in the survey, 48.8 percent are CEOs and 61.4 percent sole proprietors.
A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licenses valued at AED 60 billion ($16.33 billion) in 2021.
Facebook agrees to pay $725m to settle privacy suit
Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of...The settlement must be approved by a judge in the San Francisco division in the US District Court.
The lawsuit was initiated in 2018, when Facebook users accused the social network of violating privacy rules by sharing their data with third parties.
Two years after EU exit, UK business feels Brexit blues
Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some...The problem is not the customs duties, largely eliminated by the post-Brexit free trade agreement between London and Brussels
The government of Prime Minister Rishi Sunak has said it believes the UK economy has entered a recession on fallout from sky-high inflation
UAE’s ‘Beyond2020’ provides water source to thousands of Sudanese
Abu Dhabi, UAE--The UAE-led ‘Beyond2020’ humanitarian initiative has provided a safe source of water for about 20,000 residents of the...Two small solar-powered water basins were erected in accordance with a groundwater pumping system to provide 20 liters of water per day to residents of the two villages
Beyond2020 offers critical, life-transforming solutions to a broader number of beneficiaries worldwide
Egypt central bank raises key interest rates by 300 bps
Cairo, Egypt-- The Central Bank of Egypt has raised the overnight interest rates by 300 basis points, exceeding expectations.The Monetary...The MPC raised the overnight deposit rate, overnight lending rate, and the rate of the main operation to 16.25 percent, 17.25 percent, and 16.75 percent
The latest decision comes a week after after the announcement of a new International Monetary Fund (IMF) $3 billion loan for Egypt
Suez Canal chief says waterway ‘not for sale’
Allaying fears over the future of the Suez Canal, its chairman said the waterway 'is not for sale. The fear...Many fear the fund would undermine the state's sovereignty over the waterway which accounts for roughly 10 percent of global maritime trade
The proposed bill comes with Egypt's economy struggling under growing foreign debt, and the local currency plunging against the dollar
Turkey raises yearly minimum wage for third time as inflation jumps
Turkey's latest economic crisis started when Erdogan -- a lifelong opponent of high interest rates -- pressured the central bank...Erdogan relied on support from the working classes to rise to power nearly two decades ago, and will need it again to secure re-election.
On Thursday the Turkish leader said the country would boost the monthly take-home pay to a minimum of 8,500 liras ($455).
