WTO chief insists global trade body still counts
WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the...Economy Geostrategy
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...Economy
Russia-Germany oil pipeline partly shut after leak: operator
The Druzhba (Friendship) pipeline network was started in the 1960s and now covers 5,500 kilometres, pumping oil from the Urals...The leak was detected late on Tuesday near the village of Zurawice about 180 kilometres (112 miles) to the west of Warsaw in central Poland
PERN spokeswoman Katarzyna Krasinska was quoted by PAP news agency as saying that the pipeline was mainly supplying two refineries in Schwedt and Spergau in Germany
NAFIS partners with du to hire 500 Emiratis in private sector
The MoU aims to enhance the cooperation between the two parties to spread awareness and introduce the initiatives and programmes...The MoU aims to enhance the cooperation between the two parties to spread awareness and introduce the initiatives and programmes offered by NAFIS
The NAFIS programme is working to achieve Emiratisation rates in the private sector with set deadlines through partnerships with private and government organisations
GCC residents see growth at a time when world fears recession
Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed,...Some 43.3 percent of the respondents said GCC would not be hit by a recession, and 40.2 percent felt that economies cannot escape it
The IMF research predicts that Kuwait would have the highest GDP growth rate at 8.7 percent in 2022 among GCC countries
Tunisian coastguard intercept about 200 migrants
Nearly 200 migrants attempting to reach Europe across the Mediterranean Sea were intercepted by Tunisian coastguards over the weekend. In...More than 22,500 migrants have been intercepted off the Tunisian coast since the start of the year, around half of them from sub-Saharan Africa
According to EU border agency Frontex, between January and July more than 42,500 migrants used the central Mediterranean route -- the world's most deadly
Automation poised to transform GCC labor market
About 42.6 percent of jobs in the region will be automated by 2030, ahead of the global average of 32...Management consulting firm McKinsey predicts that 42.6 percent of jobs in the GCC will be automated by 2030, ahead of the global average of 32 percent
As a backup plan against future pandemics, the GCC's business automation strategies evolved quickly during and after the COVID-19 pandemic
Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by...Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic
Saudi Arabia’s foreign reserve assets recorded a jump of SR40.8 billion (US$10.88 billion) during the month of September 2022, reaching SR1756.2 billion
DEWA to enhance ties with foreign firms at GITEX Global 2022
MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai...Al Tayer emphasized DEWA’s keenness to consolidate cooperation and exchange expertise with Canadian companies.
The DEWA CEO highlighted DEWA’s key development projects and strategic initiatives, especially the technological projects.
UAE to launch new integrated ‘EmaraTax’ platform later this year
Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this...EmaraTax will significantly enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refund.
The new platform also greatly enhances the ability of the FTA to administer taxes in the UAE.
Syrian pound hits record low on black market, aggravating hardships
The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start...The new unofficial rate means the currency is now worth almost 99 percent less on the black market than the official rate before the start of the conflict.
The collapse of the pound has driven up the price of goods and aggravated hardship.
Equities, oil prices slide on recession fears
Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into...Traders had hoped that bumper rate increases by the US Federal Reserve this year would begin to drag on the economy and slow runaway prices.
Chip manufacturers globally took a pounding from new US export controls.
