Turkey’s inflation 65% in Jan, piles pressure on central bank
Istanbul, Turkey - Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped...Economy
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...Economy Geostrategy
Russian gas supply cut: Germany to fall short of gas reserve target
Germany is heavily dependent on Russian gas and has seen deliveries drop sharply amid tensions over the Ukraine war.Warning of looming shortages, Economy Minister Habeck outlined a series of targets last month for gas stocks to reach 95% by November 1.
"I am not counting on our achieving our next reserve goals as quickly as the first," said Klaus Mueller, president of the Federal Network Agency.
Arab economies expected to grow by average 5.4 percent in 2022 : AMF
Oil-exporting countries in the Arab World will benefit throughout 2022 from the increased oil production quantities within the "OPEC+" agreement...Arab countries are expected to face relatively high inflation rates in 2022 due to a rise in food and energy prices and escalating inflationary pressures.
The oil-importing Arab countries are expected to achieve a moderate 4.1 percent growth rate in 2022, compared to 2.7 percent in 2021.
‘RAK aims to increase number of hotel rooms in 5 years’
CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA) Raki Phillips said that the emirate’s tourism sector aims to...Ras Al Khaimah plans to increase the number of hotel rooms in the emirate over the next five years to 12,747 rooms
The rooms would be provided by over 50 hotels and resorts that offer the highest levels of service to visitors
UAE announces new incentives to support emirati SMEs
The new incentives include classifying up to five enterprises under Tier 1 category per owner, instead of two enterprises, and...The enterprises that will benefit from the new incentives have to be members of accredited funds and programs that support SMEs in the UAE.
Empowering SMEs is a strategic priority within the nation’s continuous efforts to develop the business sector in the UAE, said Khalil Al Khoori, an HR official.
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...The meeting between DG of Ajman Chamber and Mexican ambassador took place as part of the Chamber's efforts to diversify its external partnerships
The two sides discussed economic cooperation and explored trade and investment opportunities between the two countries
Global equities tumble as British inflation hits new 40-year high
Investors remain on edge as central banks hike interest rates to fight runaway inflation, but the monetary policy tightening could...US retail sales flatlined at $682.8 billion in July as gasoline prices retreated from record levels while American consumers boosted spending
The Bank of England warned earlier this month that UK inflation would climb to just above 13 percent this year, which would be the highest level since 1980
US envoy expects China to ramp up coercion of Taiwan
The US in retaliation will begin formal trade talks with Taiwan by the autumn to show support for the democracy,...Taiwan lives under constant threat of an invasion by China, which claims the democratically ruled island as part of its territory to be seized one day
The US envoy said Washington would respond with "calm, but resolute steps" to keep the Taiwan Strait open and peaceful
OPEC not responsible for soaring inflation: Secretary-General
“OPEC is not behind this price increase,” said the secretary-general of the the influential group of producers Haitham Al-Ghais. “There...Al-Ghais’ comments follow the OPEC’s decision to add only 100,000 barrels per day from next month
He said the factors behind the spike in gas and oil prices are beyond OPEC and identified underinvestment as the main problem
US Fed warns of more interest rate cuts to tame inflation
US Fed officials believe it will take some time to bring "unacceptably high" inflation back down near the two percent...US policymakers are trying to tread a narrow path and avoid pushing the world's largest economy into recession
Fed officials are trying to dispel some of that excess optimism, stressing in recent speeches that the central bank is committed to pursuing its battle on inflation
UAE scores high in 11 best expatriate destination parameters: Survey
The UAE has exceeded international figures in 11 indexes on the best expatriate destinations based on various factors, which include...German research firm InterNations said UAE achieved advanced positions in four key pillars and 11 indexes, out of five pillars and 17 indexes.
About 94 percent of those surveyed felt safe in the UAE while the global rate was under 81 percent.
