Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Business Banking & Finance Economy
SMEs in UAE confront expense management challenges
Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points...Economy
Treated sewage water improves wheat growth, production in UAE
A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...The highest wheat productivity rate was achieved when using treated sewage water.
key factors that improve wheat quality are the fertility of the soil, which must contain important nutrients and the quality of irrigated water.
Dubai reduced carbon emissions by 21 percent in 2021
The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...The Dubai Supreme Council of Energy in a meeting discussed increasing the share of solar energy.
The meeting deliberated waste recycling in power and water production, industry, ground transport and waste treatment.
Bahrain central bank’s $185m treasury bills oversubscribed 216%
Manama, Bahrain—Bahrain’s latest government treasury bills, valued at Bahrain Dinar 70 million ($185 million), have been oversubscribed by 216 percent....The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government.
The issue date of the bills is 21 September 2022 and the maturity date is 21 December 2022.
Markets drop again as traders brace for another big Fed hike
With recent data showing US inflation rooted at four-decade highs, investors are increasingly pessimistic about the outlook for the global...Several central banks are due to make rate announcements this week, with Japan and Britain among the biggest, although the main event is Wednesday's Fed decision.
Policymakers, including Fed boss Jerome Powell, have repeatedly said their ultimate aim is to bring inflation under control, even if that means sending the economy into recession.
UAE financial restructuring body holds second meeting
The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.The meeting discussed the development of the financial reorganization service.
It deliberated on the best ways to communicate relevant information about financial restructuring procedures.
Lebanese currency slides to record low amid bank closures
With four out of five Lebanese now considered poor according to the United Nations, the country has been desperately seeking...For decades, the Lebanese pound was pegged at 1,500Â to the dollar, meaning that it has lost around 95 percent of its value since 2019
Unable to transfer or withdraw their dollar deposits, many have resorted to desperate bank heists to free their money
Iran takes battle of frozen US assets before UN’s top court
Iran wants billions of dollars in US assets to be unfrozen and returned to it, while the US says money...The case before the International Court of Justice comes as hopes fade of reviving a landmark deal which former US president Donald Trump withdrew from in 2018
In 2008, US announced that it was pulling out of the Treaty of Amity after the ICJ in a separate case ordered Washington to lift sanctions on Iran
Metaverse helps UAE boost growth, productivity
Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the...Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the country focuses on innovation and talent development
The Higher Committee for Future Technology and Digital Economy is set to make Dubai a leading hub for developing and using metaverse technologies worldwide
Saudi NDF pumped $7.45 billion into Covid relief measures
Riyadh, Saudi Arabia— The National Development Fund (NDF) of Saudi Arabia has since March 2020 financed SAR28 billion ($7.45 billion)... Initiatives from the Social Development Bank and Kafalah Program were introduced to finance small and emerging enterprises specialized in health care and education.
The Fund launched an initiative to postpone outstanding debts and restructure the soft loans for 33 developing countries worldwide to ease their burden.
ISO Annual Meeting 2022 to begin Monday in UAE, trade on agenda
The International Organization for Standardization (ISO) Annual Meeting 2022 starts Monday at the ADNOC Business Center in UAE's Abu Dhabi.Hosted by UAE Ministry of Industry and Advanced Technology (MoIAT), the ISO Annual Meeting 2022 runs from September 19 to 23.
The event will witness the participation of over 2,000 delegates physically and virtually.
