Saudi Central Bank Governor discusses global economy in meeting with ECB chief
Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and...Economy
Saudi Arabia launches program to boost exports
Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on...Economy
DEWA H1 2022 revenue is $3.3bn
DEWA's net profit in H1 2022 is US$898 millionIn H1 2022, DEWA's revenue is US$3.3 billion (AED12.08 billion), and net profit is US$898 million (AED3.30 billion).
DEWA's first half revenue increase of 15 percent to $3.3 b (AED12.08 b) was mainly driven by an increase in demand.
Economists appeal to US to return Afghanistan’s frozen assets
The economists said that the plunge in economic activity and the sharp cuts to foreign aid by previous supporters of...71 economists and development experts including Nobel economics prize winner Joseph Stiglitz and Yanis Varoufakis urged US to release Afghanistan's frozen assets
They said a recent US offer to give the Taliban access to half the money by setting up a trust with international oversight was not enough
Moqtada Sadr calls on judiciary to dissolve parliament
Sadr justified his calls for judicial action by noting that constitutional deadlines for appointing a new president and prime minister...Sadr has invited MPs and his supporters to take legal action to demand that parliament be dissolved
Iraq's former PM earlier had called for parliamentary sessions to resume in order to study a possible dissolution of the body
Central Bank of Kuwait raises discount rate by 2.75%
CBK Governor said the decision was taken in light of the recent international economic and geopolitical developments.CBK Governor said the decision was taken in light of the recent international economic and geopolitical developments
The Governor added that the rate hike was to keep up with the major international interest rates, and to reinforce a favourable environment for economic growth
Key sectors face changes as UAE eyes net-zero status
As the Gulf country sets aside about US$163bn to achieve zero-emission, the number of enterprises focusing on renewable energy is...As the country sets aside about US$163bn to achieve zero emission, the number of enterprises focusing on renewable energy is growing, says Simon Birkebaek of BCG
However, the UAE is still working on the policy framework to achieve net-zero energy status and many key sectors may witness changes in the way they have been operating
Saudi finance ministry partners with Al-Ahly to develop savings bonds
Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and...Saudi Finance Ministry and National Center for Debt Management partner with Al-Ahly Financial Company.
The deal between the two entities is aimed at promoting the culture of saving in the Kingdom.
UAE inflation low but businesses burdened by rising costs: Report
IMF estimates inflation in the UAE is expected to be at 3.7 per cent in 2022, falling to 2.8 percent...About 37 percent of UAE businesses are changing their pricing strategy in line with cost increases and 31 percent are focusing on product or service differentiation.
Businesses in the UAE report cost increases of 18 per cent for energy and utilities, 17 per cent for raw materials and 14 per cent for wages and staff compensation.
New buyer sought for first grain to leave Ukraine under deal
The Sierra Leone-flagged vessel Razoni left the Ukrainian port of Odessa on August 1 carrying 26,000 tons of maize.The Sierra Leone-flagged vessel Razoni left the Ukrainian port of Odessa on August 1 carrying 26,000 tons of maize
Another ship docked in Turkey Monday with a cargo of 12,000 tons of Ukrainian maize, becoming the first to reach its destination
Doha Bank raises non-Qatari ownership threshold to 100%
Doha Bank, a Qatari public shareholding company, announced it after having earned all necessary approvalsDoha Bank, a Qatari public shareholding company, announced it after having earned all necessary approvals.
The change has been made at the Qatar Central Securities Depository with immediate effect, the bank said in a statement
Global stock markets retreat on eve of US inflation data
If the official consumer price data Wednesday come in above analysts' forecasts, the markets could see a sharp sell-off, analysts...Federal Reserve officials in recent days have stressed that more hikes are coming to tame soaring inflation
Oil prices reversed some of the prior day's gains and remain around six-month lows as recession fears mount
