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
WEF24: Innovation and diversification drive UAE growth
The UAE's proactive approach is helping it in shaping a dynamic and prosperous future, says UAE's Economy Minister Abdullah bin...Economy
Emirates H1 profit at US$1.1bn
Revenues in H1 of 2022-2023 surged 131% to $13.7 billion.Emirates has bounced back into the black after its losses during the pandemic, the airline said.
The airlines operations recovery accelerated as more countries eased and removed travel restrictions.
S&P says GCC economies to get a boost from Qatar World Cup
Dubai, UAE— The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup,...Dubai, according to the report, would benefit the most outside Qatar because of its proximity, tourism industry, airline connections and multiple-entry tourist visa provisions
According to S&P rating estimates, Qatar's real gross domestic product growth in 2022 will be 4.8 percent, a sharp increase from 2021
China’s digital economy hits $6.3 trillion
The digital economy has become an important cornerstone of China's stable economic development, said the China Internet Development Report 2022.The digital economy has become a cornerstone of China's economic development, said the China Internet Development Report 2022 released during the WIC Wuzhen summit
The summit also released the World Internet Development Report 2022 which revealed the digital economy in 47 countries reached 38.1 trillion U.S. dollars in 2021
Countries wrangle over future climate finance at COP27
Diplomats from developing nations criticised the persistent imbalance in climate financing which, within the UN framework, should be evenly split...In 2009, UN climate summit saw rich nations promise $100 billion a year by 2020 to Global South, but two years past that deadline the amount delivered is still $17 billion short
As climate disasters have multiplied over the last decade, nations in the Global South have called for a separate financial facility for loss and damage
UAE president issues new law on regulation, development of industry
The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination
It allows the creation of a package of incentives and enablers for the industrial sector that support national strategic objectives
Crises augment EU-GCC energy & security cooperation
Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...The Ukrainian crisis has been a big push for the EU to understand the requirement of more renewables, especially the need to develop hydrogen, says EU official
The European Union has a new strategy for more engagement and better partnership with the Gulf countries, the bloc's foreign policy chief Josep Borrell adds
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest economic developments
The Forum strengthens dialogue, exchanging of ideas and knowledge between senior government officials, academics, and business leaders from around the globe
Meta lays off 11,000 staff, Zuckerberg calls it the ‘most difficult change’
Zuckerberg said the cuts represented 13 percent of Meta's workforce and would affect its research lab focusing on the metaverse...The tech industry is currently in a serious slump and several major firms have announced mass layoffs -- Twitter's new owner Elon Musk fired half its staff last week.
Ad-supported platforms such as Facebook and Google are suffering from advertisers' budget cuts as they struggle with inflation and rising interest rates.
Villas, apartments form major chunk of $598m Dubai realty deals Tuesday
Dubai, UAE---Dubai real estate market recorded realty deals worth AED2.2 billion ($598 million) on Tuesday, according to the data by...The deals include 544 sales transactions worth AED1.64 billion, in addition to 78 mortgage deals of AED590.54 million.
Residential properties in the UAE remain a top priority for international real estate investors.
Global tourism now at around 70% of pre-pandemic levels: UNWTO
“Our job is to create jobs,” UNWTO Secretary-General Zurab Pololikashvili told tourism sector leaders at the World Travel Market.“Our job is to create jobs,” UNWTO Secretary-General Zurab Pololikashvili told tourism sector leaders at the World Travel Market
The WTM offers a platform for public and private sector leaders, addresses tourism’s most pressing issues and sets the agenda for the years ahead
