Global stock markets swing ahead of Fed’s latest rate decision
"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...Business Economy
IMF lifts global growth forecast citing unexpected ‘resilience’
The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International...Economy
US Fed looks to hike interest rate to douse runaway inflation
US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the...The Fed holds its two-day policy meeting next week, where it is expected to hike the benchmark borrowing rate on Wednesday by another three-quarters of a percentage point
Officials have said the US economy is strong enough to withstand higher rates without a serious downturn, but others say they are overly optimistic
Egypt banks on small farms to overcome wheat shortage
Egyptian smallholders grow nearly half of the country's crops, a lifeline role increasingly important after grain imports were stalled by...Egypt relied on Russia and Ukraine for 80 percent of its imports for wheat, providing the flour for Egypt's traditional flat bread
In March, Cairo ordered farmers to grow wheat, calling the "compulsory delivery" orders a "patriotic duty"
Saudi Arabia mulls welfare funds to ease inflation
The Kingdom has allocated $5.3bn to deal with the fallout of rising global prices, with half of the fund going...The Kingdom has set aside $5.3bn to deal with the fallout of rising global prices, with half of the fund going to social insurance beneficiaries and the Citizens' Account program.
According to the recent data issued by Saudi Arabia’s General Authority for Statistics, inflation rose marginally to 2.3 percent year-on-year in June 2022
Dubai’s labor body to expand schemes for welfare of workers
The Permanent Committee for Labor Affairs has reiterated its commitment to collaborate with private and social organizations to consolidate the...The Permanent Committee for Labor Affairs said it will collaborate with private, social organizations for progressive labor policies in Dubai
PCLA said it pursues workplace campaigns and community initiatives to improve workers’ standard of living and working
IMF adopts plan to better account for gender gaps
Kristalina Georgieva in a statement.said that the Washington-based organization would immediately begin implementing the strategy.Kristalina Georgieva in a statement.said that the Washington-based organization would immediately begin implementing the strategy
She added that "well-designed macroeconomic, structural, and financial policies can support efficient and inclusive outcomes.”
Abu Dhabi records $6.13bn of real estate transactions in H1 2022
Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over US$6.13 billion...Abu Dhabi's real estate market recorded 7,474 property transactions worth over US$6.13bn in H1 2022
Department of Municipalities and Transport half-yearly report says all kinds of land, buildings and real estate were purchased, sold and mortgaged
Twitter Q2 revenue at $1.18bn
Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
‘Bilateral ties strengthened with UAE President’s France visit’
The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...The French Ambassador to the UAE described the first official visit to France of UAE President as successful
Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
Allotted industrial & commercial land rules in Dubai amended
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title...Sheikh Mohammed bin Rashid issued Decree No. (25) of 2022 amending some of the articles of Decree No. (4) of 2010
Article (1) outlines the definitions in the decree, while Article (2) covers the ownership of granted land
French oil, shipping firms reduce prices under government pressure
French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
