Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.Company News Business Economy Global
WTO convenes ministers in UAE with slim hopes for breakthrough
The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...Economy
S&P Global says Egypt non-oil businesses contract in November
Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November — the second lowest since June 2020.
According to S&P Global, Egypt’s purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month
UN biodiversity talks begin, advertised as ‘last chance’ for nature
Delegates from across the world gathered for the December 7-19 meeting to try to hammer out a new deal for...Some countries want to set up a separate funding mechanism for biodiversity, which wealthy nations have largely resisted
NGOs say the lack of world leaders at COP15 risks dampening momentum at the talks and could scupper an ambitious settlement
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
The goverment hopes to start implementing the project in 2025, ending the first phase in 2033
Dubai ruler evinces support for global economic growth
Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
EU stops import of products which causes deforestation
The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where...The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking".
The scope encompasses palm oil, cattle, soy, coffee, cocoa, timber and rubber as well as derived products such as beef, furniture and chocolate.
Developing economies’ debt more than doubled over decade, says World Bank
The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the...Many countries are already facing or at risk of debt distress with surging global inflation and rising interest rates.
The external debt of International Development Association countries also nearly tripled in the decade leading up to 2021.
Libya tells foreign energy firms it’s safe to return
TRIPOLI, LIBYA - Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday...Rival administrations in east and west have vied for power in Libya since March.
Libya aims to raise its oil output from around 1.2 million barrels per day currently to 2.0 million bpd by 2027, NOC chairman Farhat Bengdara said.
Abu Dhabi Airports, Bombardier to create aircraft hub in UAE
This represents Bombardier’s first full-service facility in UAE.The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
