Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...Economy
Moody’s downgrades Israel’s credit rating due to Hamas conflict
Fitch -- which is the last of the big three US ratings agencies -- placed Israel on negative watch over...Economy
JAFZA facilitates more than a third of Dubai automotive volume
Dubai, UAE-- Jebel Ali Free Zone (Jafza), part of DP World Group, has facilitated over 1.2 million metric tons (MT)...This is equivalent to $12.4 billion, more than a third of the total trade worth $31.3 billion. Â
Dubai hosts the region’s biggest automotive trading hub and the largest used car market.
Adoption of new technologies tops Saudi Maritime Congress agenda
The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge...The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge technological solutions in the sector
This edition is the first to be organised in person after the pandemic and the recovery of global economies from its unprecedented effects on the supply chain
Lebanese woman robs bank to ‘pay for ill sister’s’ treatment
It was just the latest in a string of heists as Lebanese depositors, whose savings have been trapped in banks...Sali Hafiz streamed a live video of her raid, in which she could be heard yelling at employees to release a sum of money while entrances to the bank were sealed.
She instantly turned into a folk hero on social media in Lebanon, where many are desperate to access their savings and furious at a banking sector perceived as a corrupt cartel.
European Union plans to cut soaring gas, electricity prices
In the EU's electricity market, the price is based on the last source used to meet demand -- often a...Wholesale energy prices thus soared together when the war in Ukraine sent the cost of gas skyrocketing.
Commission chief Ursula von der Leyen said the levy, or cap, would raise at least $140 billion. The commission wants to reduce monthly consumption by 10 percent.
Why are millionaires flocking to UAE?
By the end of 2022, the UAE is expected to attract more than 4,000 high-net-worth individuals, mostly from India, Russia,...Around 25 percent of GCC's millionaires are moving to the UAE. At the same time, others are relocating to other regions like the UK, US and Europe.
The total private wealth of the wealthy in the UAE increased by US$46 billion between 2019 and 2021, to nearly US$917 billion, according to a Global Citizens report.
Drop in German investors confidence sparks recession fear
BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on...The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points.
For its survey, ZEW quizzes experts about the current economic situation and the outlook for the coming six months.
India to invite UAE as ‘guest country’ at G-20 Summit
India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.
High-level UAE economic delegation visits Georgia
A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.UAE-Georgian economic relations have witnessed remarkable development in recent years.
Total non-oil trade between UAE and Georgia in 2020 and 2021 grew by 52 percent to reach US$223 million.
UAE’s TDRA becomes member of global body EFQM
UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...Telecommunications and Digital Government Regulatory Authority will support the implementation of EFQM's leading approach.
TDRA will utilize the integrated services provided by the EFQM to better equip its own teams to drive excellence.
New PPP law will help UAE achieve competitive economy: Massimo Falcioni
PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEOPPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
ECI, Falcioni added, has partnered with private companies and government institutions to enhance public infrastructures in and outside the UAE
