UAE healthcare spending set to reach $30.6bn by 2027
The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a...Economy Health
Egypt grapples with dollar crunch as debt explodes
With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the...Economy
China hits Taiwan with fresh trade curbs as Pelosi visits
The trip by Pelosi, who is second in line to the presidency and the highest-profile elected US official to visit...The trip by Pelosi, who is second in line to the presidency and the highest-profile elected US official to visit Taiwan in 25 years, has ignited a diplomatic firestorm
China's Customs Administration said Wednesday it would suspend some citrus fruits and fish imports from Taiwan
Suez Canal revenue hits a record $704 million
Canal Authority Chairman Osama Rabea said that the Canal reached its highest monthly transit rate of 2,103 ships, as well...Canal Authority Chairman Osama Rabea said that the Canal reached its highest monthly transit rate of 2,103 ships, as well as monthly net tonnage of 125.1 million tonnes
Rabie attributed the big leap in the revenues to the rise in the number and tonnage of ships transiting the canal during 2021-2022
OPEC+ to discuss its output strategy after Biden’s Saudi visit
After cutting production in 2020 in response to falling prices during the Covid pandemic, OPEC+ began to modestly raise production...Craig Erlam, analyst at OANDA trading platform, said the OPEC+ meeting will show whether "President Biden has any influence in the cartel at all."
Biden made a controversial trip to Saudi Arabia in July in part to convince the kingdom to loosen the production taps to stabilise the market and curb rampant inflation
UAE central bank issues new guidance for politically exposed persons
The Central Bank of the UAE (CBUAE) has issued new guidance on Anti-Money Laundering and Combating the Financing of Terrorism...The guidance will help Licensed Financial Institutions understand risks and effective implementation of anti-money laundering and terror financing guidelines.
The guidance requires LFI’s to demonstrate compliance with its requirements within one month.
UAE climate change ministry, EDB to finance agro ventures
UAE Ministry of Climate Change and Environment and Emirates Development Bank sign a Memorandum of Understanding to finance agricultural SMEs...UAE Ministry of Climate Change and Environment and Emirates Development Bank ink pact to finance agricultural SMEs
This move will help to contribute to the UAE’s sustainable economic development and food security
UAE maintains reputation as top tourist destination
The UAE continues to maintain its regional and international leadership as a distinguished travel destination and a preferred country for...The UAE has strengthened its position on the world tourism map, becoming a leading international tourism destination.
UAE is in the top 10 country in several international competitiveness indexes related to the tourism, travel and hotels sectors in 2021
AD Ports, Hutchison to explore investments in GCC, Asia, Africa
Abu Dhabi Ports and Hutchison Ports have signed an MoU to identify joint investment and business opportunities related to feedering,...They will partner to operate within Tanzania to enhance the capabilities and market competitiveness of port operations in the country, including Dar Es Salaam Port.
Potential areas of focus include improving servicing to several of Tanzania’s landlocked remote areas and neighboring countries.
Uber posts Q2 loss of $2.6bn
Uber revenue more than doubled to $8.1 billion in Q2. Uber reported better-than-expected revenue in Q2, fueled by strong demand...Uber reported better-than-expected revenue in Q2, fueled by strong demand for the San Francisco-based company's ride-hailing and food delivery services
Revenue more than doubled to $8.1 billion in the three months through June -- a 105 percent increase
UAE minister discusses economic cooperation, trade with Mongolia
During the meeting, the minister emphasized the UAE's commitment to solidifying its economic and trade partnership with Mongolia to support...Minister of Economy Abdullah bin Touq Al Marri held a meeting with Ambassador Extraordinary and Plenipotentiary of Mongolia to the UAE Odonbaatar Shijeekhuu
The meeting was held in Dubai with an aim to strengthen trade and economic cooperation between the UAE and Mongolia
Iraq tensions soar as protesters rally against parliament occupation
Thousands of Iraqis took to the streets of Baghdad Monday in counter-protests as rival supporters of Shiite Muslim cleric Moqtada...Sadr's supporters on Saturday breached the normally high-security Green Zone also home to government buildings and embassies
In multi-confessional and multi-ethnic Iraq, government formation has involved complex negotiations since a 2003 US-led invasion toppled dictator Saddam Hussein
