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
Dubai is a key player in global business landscape
"The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs...Economy Uncategorized
US Fed decision impacts key policy rates across GCC
While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by...Hours after the US Federal Reserve hiked its key interest rates by 75 bps, the GCC countries followed the suit and increased their policy rates by the same margin
While the Fed’s step was aimed at combating the soaring inflation, the regional economies followed the US moves as their currencies are pegged to the dollar
Abu Dhabi Chamber, Philippine Business Council discuss ties
A delegation from the Philippine Business Council, headed by Prof. Gau Raganit, visited the Abu Dhabi Chamber of Commerce and...Abu Dhabi Chamber, Philippine Business discuss strengthening relations between the Chamber and Filipino investors
The two sides discuss increasing the level of cooperation in diverse sectors of mutual interest
IFZA, CBD ink banking deal
Opening corporate bank accounts to become easier for free zone firms.The free zone companies will now be able to also obtain personalized services.
A study by Dubai Chamber of Commerce said entrepreneurs face a lot of issues in opening a corporate bank account in UAE.
High energy prices help Russia weather damaging sanctions: IMF
Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be...Sanctions were meant to sever Russia from the global financial system and choke off funds available to Moscow to finance the war.
International Monetary Fund's latest World Economic Outlook upgraded Russia's GDP estimate for 2022 by 2.5 percentage points.
More than 10 million visit UAE govt portal in first half of this year
The Telecommunications & Digital Government Regulatory Authority (TDRA) said that over 10 million people visited the Official Portal of the...Over 24 million pages were viewed through the visits to U.AE portal in H1 of 2022
These results indicate the high value of U.AE as a prime source of information and services
Beirut named most expensive city in Arab world
The cost of living in Beirut is also more than its purchasing power, which is the lowest among Arab cities....Cost of Living Index measures compares expenses an average person incurs on goods and services in different regions.
The Index is also used to track how much the costs of basic expenses rise over a period.
ADX market value rises in Q2, 2022 to US$542.42bn
Abu Dhabi Securities Exchange has recorded its highest rise in terms of market value and trading value at end of...The ADX ranked first in Arab region in terms of market value increase, says the Arab Monetary Fund
The Abu Dhabi Securities Exchange rose from $513.19bn at the end of Q1 of 2022 to $542.42bn in Q2 of 2022
‘Most IT security officials believe firms threat strategy poor’
A global survey conducted among 2,100 IT Security Decision Makers (ITSDMs) reveals that 60 percent of respondents believe their organizations...Only 16 percent of respondents in the UAE and Saudi Arabia say they are able to keep pace with the threat landscape
Most organisations (91 percent) surveyed in the UAE and Saudi Arabia experienced identity-related security breach in the past 18 months.
Don’t let inflation ‘genie’ out of the bottle: IMF economist
With price surges in major economies approaching 10 percent, central banks must stay the course and continue to raise interest...With price surges in major economies approaching 10 percent, central banks must continue to raise interest rates until inflation retreats, the IMF's chief economist said
Soaring prices for food and fuel, exacerbated by the war in Ukraine, have been squeezing family budgets worldwide, and even leading to unrest in some countries
Turkey to drill for gas in Mediterranean early next month
Turkey will resume gas exploration off its coast in the Mediterranean on August 9, the energy ministry said Tuesday. "Turkish...The EU came close to sanctioning Ankara in 2020 for pushing into contested east Mediterranean waters in search of fresh natural gas reserves
Turkey disputes its maritime borders in the eastern Mediterranean with EU members Greece and Cyprus
