Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Business Economy Geostrategy Global
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...Economy
GCC, S. Korea begin sixth round of talks on free trade agreement
SEOUL, SOUTH KOREA - The sixth round of revived negotiations between the Riyadh-based Gulf Cooperation Council (GCC) and the Republic...GCC and South Korea expressed readiness to advance discussions on a free trade agreement after a 13-year suspension.
The agenda of the sixth round include trade in goods and services, investment, digital trade, and intellectual property rights.
UAE-UK partnership may unlock potential of clean hydrogen, boost economy, create 200,000 new jobs
The latest WGEO study is part of "our efforts to support the Dubai Clean Energy Strategy 2050 and the Dubai...By 2050, hydrogen is estimated to deliver more than $8.7bn annually to the UAE economy and $14.8bn GVA to the UK, says the latest WGEO report
A UAE-UK collaboration -- involving policy, innovation, trade, and investment - has potential to create over 100,000 new jobs in each country, it adds
UAE-Egypt trade touches $67 billion in the last 22 years
The economic ties between the UAE and Egypt were strengthened this year by the signing of the Industrial Partnership for...The UAE is Egypt’s second leading trade partner in the region while Egypt is the fifth leading trade partner of the UAE in terms of non-oil trade
The UAE is also the largest international investor in Egypt, with cumulative investments worth over $15 billion
ADCB Q3 net profit at US$432m
The diversification of revenue streams boosted the bank's profitability.The bank reported a non-interest income of US$259 million (AED 952 million).
ADCB said its operating income surged by 21 percent to reach US$955 million (AED 3.510 billion).
UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index
The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.The CFA Institute said the index highlights both the considerable diversity and the positive features present in many systems.
The study also confirms that no pension system is perfect and that every system has shortcomings.
60% houses in Iraq lose access to drinking water, says survey
BAGHDAD, IRAQ - In drought-hit Iraq, six out of 10 households have had their access to drinking water disrupted and...The Norwegian Refugee Council (NRC), an aid group active in the oil-rich but war-scarred country, surveyed 1,341 households in August.
NRC study found that the crisis has had an immediate impact on access to drinking and irrigation water and on the production of crops.
Oman’s CPI inflation rate rises 2.4 percent in September
MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly...The report noted prices of education group increased by 5.1 percent.
The prices of health group and food group surged by 3.5 percent and 5 percent respectively.
Lebanese lawmakers fail to pick President for fourth time
Already governed by a caretaker cabinet, crisis-hit Lebanon is hurtling towards an imminent power vacuum, with just days before the...A total of 50 lawmakers in Lebanon's 128-seat parliament left their votes blank, many from the Iran-backed Hezbollah.
Parliament speaker Nabih Berri called for another vote on Thursday in the hope of overcoming long-running arguments.
Most markets up but China fear casts shadow
Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood...Tokyo, Sydney, Seoul and Taipei led gains after a strong performance in New York.
The rise was sparked by a report the Fed could begin to take its foot off the pedal in its rate hike campaign.
Credit Suisse to pay $234m fine
Bank to pay fine on money laundering, tax fraud charges.Credit Suisse said it had reached the settlement to resolve a legacy matter in relation to investigation into historical cross-border private-banking services.
The bank added that the settlement does not comprise a recognition of criminal liability.
