UAE emerges as a new leader in global healthcare
“This goal, aligned with the forward-looking vision of the UAE's leadership, will not only enhance the quality of life but...Economy Health
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...Business Economy Markets
China and US discuss global economic challenges, supply chains
Top officials from the United States and China held a "candid" video call on Tuesday to discuss global economic challenges,...The world's two biggest economies are also grappling with Covid-snarled supply chains and rising global energy prices
The Xinhua report said the video call took place at the request of the United States, and described the conversation as "constructive"
Mecca businesses see hajj boom ending pandemic slump
Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of...Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of Mecca
Haj and Umrah generate about $12 billion (11.5 billion euros) annually, keeping the economy humming in Mecca
Saudi Arabia, UAE try to ease inflation pain of citizens
"A generous royal order was issued approving the allocation of financial support in the amount of SAR 20 billion (around...Saudi Arabia is disbursing billions of dollars directly to citizens to ease the effects of inflation
The UAE has doubled the budget for its social security programme to AED 28 billion after a rise in fuel prices
European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last...London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively.
Markets have suffered sharp losses in recent weeks on fears that global rate hikes -- aimed at fighting soaring inflation.
IMF authorities in Tunisia to discuss bailout package
An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with...Tunisian central bank's press office told AFP that the two-week visit would involve officials from the bank and the finance ministry.
The North African country, the birthplace of the 2011 Arab Spring uprisings, has been suffering under a grinding economic crisis.
CEPA with India, Israel, Indonesia to help UAE economic growth
The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
The UAE is holding talks with several other countries for signing similar agreements
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.Â
Bezos flays US President for call to lower gasoline prices
Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline prices, prompting...Soaring gasoline prices in US are sapping Biden's approval rating ahead of legislative elections
White House Press Secretary said on Sunday that oil prices have dropped about $15 a barrel over the past month
Turkish inflation hits two-decade high of 78.6%
Inflation in Turkey in June soared to an annual rate of 78.6 percent, the highest in 24 years, official data...Economy Minister Nureddin Nebati on Friday "promised" that consumer prices will start dropping in December
The data showed that headline inflation was driven by a 123.4% jump in the cost of transportation and a 94% increase in non-alcoholic drinks.
Oil prices may hit $380 a barrel if Russia lowers crude output
Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the...According to JPMorgan analysts currently Russia enjoys a strong financial position and it can afford to slash daily crude production by 5 million barrels
It was after Russia’s invasion of Ukraine that the Western allies led by the US imposed several sanctions, and worked out a complicated mechanism to cap the price fetched by Russia
