Qatar Chamber and International Labour Organization look to boost ties
Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor,...Economy
Bahrain’s central bank treasury bills oversubscribed by 226%
Manama, Bahrain--Central Bank of Bahrain (CBB) announces that the $93 million monthly issue of Government Treasury Bills has been oversubscribed...Economy
Kuwait sets 2060 as date to reach carbon neutrality
Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across...According to Kuwait's Environment Public Authority chief, Kuwait intends to embrace a national strategy to achieve the target
The chief said the country is also keen to develop program to reduce carbon emissions through low-carbon development strategies in the oil and gas, energy, transport, industry
UAE Cabinet approves penalties for flouting Nafis initiatives, programmes
Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy
If an establishment undertakes fake Emiratisation, a fine of no less than AED20,000 and not more than AED100,000 for each Emirati employee will be imposed
COP27 climate talks inch toward ‘loss and damage’ showdown
The G77+China block of more than 130 developing nations called in a position paper for a special fund "for assisting...The need for such "loss and damage" financing, which has emerged as a make-or-break issue at COP27, is urgent, the largest negotiating bloc at the talks said
US and the EU have suggested that expanding current channels for climate finance might be a more efficient approach than creating a new one
Saudi Arabia, UAE key partners in Indonesia’s growth
The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting...The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting the 17th G20 Heads of State and Government Summit
Since 1976, the Kingdom, through the Saudi Fund for Development has contributed to strengthening the pillars of sustainable development in its various fields and forms in Indonesia
US wholesale price inflation slows in October
US wholesale prices continued to rise in October but at a slower pace than in the prior month, according to...The producer price index in US rose just 0.2 percent compared to September, the Labor Department reported.
Annual PPI in the US slowed to 8 percent in October, the data showed, down from 8.5 percent in the prior month.
Walmart posts Q3 loss of $1.8bn
Settlement on opioid cases hit earnings of the firm.The opioid crisis in the US - causing over 500,000 deaths over 20 years - triggered a flurry of lawsuits against drugmakers, distributors and pharmacies.
US pharmacy chains CVS Health and Walgreens similarly reached preliminary agreements this month to pay more than a total of $10 billion to resolve opioid claims.
Amanat 9M growth at 6%
Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.Adjusted total income grew 17 percent to $28.9 million in 9M-2022.
Adjusted EBITDA grew 19 percent to $29.8 million (AED110.1 million) in 9M-2022.
Wio Bank, ADGM sign pact
Pact will help SMEs in UAE gain access to key banking services.With this pact, Wio will extend its Wio Business platform to SMEs registered with ADGM and provide them with fast-tracked application submission.
Presently, AGDM supports over 330 SMEs in health tech, pure tech, Edtech, legal tech, food tech, tourism tech, and insurance tech.
TECOM Group to pay dividend
Firm approved interim dividend payment of US$54m.The approved US$54 million (AED200 million) cash distribution is in line with the Group’s previously announced dividend policy of distributing $217 million annually.
All matters related to future dividend distribution will be subject to Board of Director’s recommendation and shareholders’ approval.
EU to shore up Tunisia economy with US$100m grant
In order to shore up its economy battered by the Covid pandemic and political turmoil, the EU has signed off...Tunisia relies heavily on imported wheat and natural gas, whose prices have shot up since Russia's invasion of its neighbor in February
The grant comes as Tunisia awaits a loan deal with the International Monetary Fund (IMF), and the EU said its aid money was "part of the approved reforms" to finalize the deal
