UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...Business Economy Global
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...Business Economy
Over 7mn international visitors in Dubai in H1 2022
Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording over 183 growth compared to the 2.52...The number of tourists recorded in H1 2022 was close to the numbers achieved in the first six months of 2019
Western Europe accounted for a significant share of tourist arrivals, comprising 22 percent of total international visitors in H1 2022
Qatar’s central bank’s foreign currency reserves hit $58bn in July
Qatar Central Bank’s (QCB) foreign currency reserves and liquidity increased 2.79 percent to reach QR 211.32 billion ($58bn) in July...The rise in reserves driven by an increase in the central balances of bonds and foreign treasury bills.
The reserves consist of four categories: foreign securities, balances with foreign banks, gold, and Special Drawing Rights (SDR).
Total assets of UAE national banks at $816b in Jan to May 2022
Total assets of the 22 national banks rose to US$816.8 billion (AED 3.023 trillion) in the first five months of...Total assets of the 22 national banks rose to US$816.8b (AED 3.023 trillion) in the first five months of 2022, up four percent
Assets of national banks accounted for 87.8 percent of gross banking sector's assets of US$937 billion (AED 3.442 trillion)
Syria more than doubles petrol prices, says commerce ministry
Syria's internal commerce ministry has announced a petrol price hike of around 130 percent in the war-torn country facing fuel...The cost of a liter of subsidized fuel will rise to US$0.99 (2,500 Syrian pounds), from US$0.43 (1,100 Syrian pounds)
The cost of non-subsidized petrol will rise from US$1.39 (3,500 Syrian pounds) to US$1.59 (4,000 Syrian pounds), the ministry said.
UAE ahead of US, UK as millionaire destination
The Ukraine conflict has triggered the biggest immigration of high-net-worth Russians, many of whom are likely to move to the...Destinations such as Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada and New Zealand are behind UAE as preferred millionaire destinations.
Henley Global Citizens Report estimates that 15,000 High Net Worth Individuals could leave Russia by the end of this year.
Amman Chamber members’ exports rise by 57 percent in 7 months
Exports by member firms of the Amman Chamber of Industry (ACI) increased by 57 percent during the past seven months,...Media reports said exports spiked to JD4.159 billion ($5.86 billion) during the past seven months of the year, compared to JD2.656 billion in the same period of 2021.
Jordanian industries can access more than 142 markets around the world through the export of 1,400 commodities.
Ways of digital banking in Middle East
The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market...Banking that is done through the digital platform without any paperwork is referred to as digital banking.
Increased efficiency, cost reduction and increased accuracy are some of the advantages of digital banking.
Arrival of first ship in Lebanon with Ukraine grain put off
The Sierra Leone-flagged Razoni was cleared for passage through the Bosphorus Strait by a team that included Russian and Ukrainian...An official following the shipment said the vessel might not even dock in Lebanon if the cargo's owner manages to sell it elsewhere
The Sierra Leone-flagged Razoni set sail from the Ukrainian port of Odessa last Monday carrying 26,000 tons of corn, and stopped in Turkey the next day
GCC stocks rise amidst US-China tension
The performance of the Gulf stock exchanges varied this week, affected by several factors and events, most notably the tension...The performance of the Gulf stock exchanges varied this week affected by several factors and events
The visit of US House Speaker Nancy Pelosi to Taiwan and the tension between the United States and China affected the stock market
Dubai Chambers gets new CEO and President
Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service....He replaced Hamad Buamim, who was the President and CEO of Dubai Chambers for past 16 years.
Under Buamim, the membership of Dubai Chambers by over four times from 80,000 to over 320,000.
