UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...Business Banking & Finance Economy
Dubai economy would grow 5 percent this year: Al Ghurair
Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...Economy
EGA, ITOCHU sign agreement
They would set up UAE's largest aluminum recycling facility.EGA's relationship with ITOCHU stretches back to the 1980s, with the Japanese company marketing the UAE company's metal in Japan.
The two companies will work in the development of new aluminum alloys with third parties for niche applications.
UAE Minister discusses economic ties with Caribbean countries
ABU DHABI, UAE - UAE Minister of Economy Abdullah bin Touq Al Marri visited the Havana International Fair 2022 in...The visit was aimed at exploring opportunities for cooperation and establishing new economic partnerships between the UAE and Caribbean region.
The UAE minister met several ministers from the Caribbean nations to discuss mechanisms to enhance economic and trade cooperation.
‘Sweden confirms Nord Stream pipeline sabotage’
Swedish officials confirmed the September blasts which destroyed sections of the Nord Stream pipelines carrying natural gas from Russia to...Technical analyzes were continuing in order to "draw more reliable conclusions regarding the incident."
Sweden's Prosecution Authority said that the investigation will show if anyone can be formally suspected of a crime.
UN chief says stop ‘blame game’ at deadlocked climate talks
Developing nations least responsible for global emissions are pushing rich polluters to agree at COP27 on the creation of a...Guterres said there was "clearly a breakdown in trust" between developed and emerging economies
The deadlock on loss and damage is holding up agreement on a broad range of issues that nations are hoping to address at COP27
Qatar issues licenses to 3500 holiday homes to house World Cup visitors
Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup.Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup
More than 160 round-trip flights are scheduled daily from neighbouring Gulf countries to allow them to accommodate supporters
Algeria to help Cuba as energy shortages bite
Algeria and Cuba have had friendly relations for decades, with the first Cuban doctors dispatched to the North African country...The announcement was made as Cuban President Miguel Diaz-Canel visited Africa's biggest gas exporter
Algeria will grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts
UK rolls out budget full of tax hikes as recession seeps in
Britain unveiled a painful budget with $65 billion of tax hikes and spending cuts despite confirming its economy was in...Finance minister Jeremy Hunt said the measures were needed to bring financial stability after recent markets turmoil.
The pound had hit a record-low close to parity against the dollar in late September after Truss failed to reveal the impact of her tax cuts on growth and inflation.
Alibaba posts Q3 loss of $2.9bn
Firm's result is seen as a gauge of Chinese consumer sentiment.The heavy net loss attributable to ordinary shareholders was primarily due to a decrease in market prices of its equity investments in publicly traded companies.
Alibaba said it achieved revenue growth by "enhancing operating efficiency" as well as through the expansion of its logistics and services businesses.
Lebanon MPs fail for sixth time to elect president
Lebanese lawmakers failed for a sixth time to elect a successor to former president Michel Aoun, whose mandate expired last...There have been delays in electing previous Lebanese presidents.
This year's vacancy comes as Lebanon is mired in an economic crisis that the World Bank has dubbed one of the worst in recent history.
Mawani felicitated at the Maritime Standard Awards 2022
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) won an award at the ninth edition of the Maritime Standard...The awards is an annual industry event that felicitates top performers in the shipping, ports, and related sectors in the Middle East and the Indian subcontinent.
The award crowns Mawani’s efforts in revolutionizing the Saudi maritime ecosystem and facilitating global trade.
