Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...Business Economy
‘WTO champions global trade stability, prosperity’
"It is contributing to raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services"...Economy Uncategorized
Gulf central banks raise interest in line with Federal Reserve hike
Dubai, UAE--– The central banks of Saudi Arabia, Bahrain, and Qatar increased their interest rates following the US Federal Reserve...Since the costs in the GCC are pegged to the dollar, the central banks in the region follow the Fed rate changes.
The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points.
Tunisia awaits languid election for powerless parliament
Over a decade since the country's revolution that unseated dictator Zine El Abidine Ben Ali, opposition parties have urged a...The previous legislature had far-reaching powers, in the mixed presidential-parliamentary system enshrined in the North African country's post-revolt constitution
In July this year, Saied used a widely shunned referendum to push through a new constitution, stripping parliament of any real clout and giving his own office unlimited powers
Saudi inflation rate eases to 2.9 percent in November
Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent
In the last couple of months, food prices rose by 3.6 percent while transport costs have increased by 4 percent
WHO sees Covid-19 emergency dying out in 2023
Urging China to share information that might pinpoint how the pandemic started, the WHO has said that it was hoping...The WHO's emergency committee on Covid-19 will discuss the criteria for declaring an end to the emergency phase when they next meet in January
Nearly 650 million confirmed Covid cases and more than 6.6 million deaths have been reported to the WHO, though the UN health agency acknowledges this will be a vast undercount
EU leaders meeting in Brussels to focus on trade dispute with US
The EU summit was to also examine the situation, and consequences in Europe, of Russia's war in Ukraine, which European...Brussels views the "Buy American" condition for purchasers of electric vehicles mainly made in the United States as discriminatory against European car manufacturers
EU chief said the e-vehicle subsidies contained in a broader US Inflation Reduction Act "risk un-levelling the playing field and discriminating against European companies
UAE bank investments up to $132bn by September end
According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion.According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion
Held-to-maturity-securities comprised 38.9 percent, or $51 billion of the total investments
Dubai brings in new rules to govern its Digital Economy Court
Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently...A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital infrastructure
The DIFC Courts Rules will facilitate the efficient and modern resolution of digital economy disputes
Gulf central banks raise interest in line with US Fed’s rate hike
The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates...The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points
The Central Bank of the UAE (CBUAE) earlier Wednesday raised the Base Rate applicable to the Overnight Deposit Facility by 50 basis points
Morocco lose game but win hearts all over world
Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic...All over Morocco, shops have been selling team jerseys and flags.
The news agency said the king also conveyed a congratulatory message to French President Emmanuel Macron by telephone post-match
Recession in Germany to be lower than predicted, says Ifo Institute
Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.Economic output growth is expected to shrink by 0.1 percent in 2023, the Munich-based Ifo Institute said
Inflation in Germany is expected to slide from 7.8 percent in 2022 to 6.4 percent in 2023.
