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
ECB to urge patience on rate cuts in battle against inflation
The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at...Economy Geostrategy
World Bank approves $130m loan for Tunisia to ensure food security
The loan approved Wednesday aims to ensure "affordable bread for the poor, barley for livestock, and agricultural inputs for domestic...The package is aimed at lessening the impact of the Ukraine war by financing vital soft wheat imports.
Tunisia is dealing with heavy public debt, a low credit rating and steep inflation, which worsened because of Ukraine war.
WHO backs Qatar to manage Covid risks well at World Cup
The WHO voiced confidence Tuesday that hosts Qatar would successfully manage the Covid-19 risks at the 2022 football World Cup.Two million tickets will be sold in total, with another one million reserved for sponsors and the sport's global governing body FIFA
The Qatari capital Doha, with a population of about 2.4 million, is bracing itself for the huge influx of visitors
Egypt to receive $500 mn from World Bank to boost food security
Egypt's food security has been under mounting pressure since Russia invaded Ukraine in late February causing massive disruption to exports...The new tranche of World Bank financing will go towards "funding wheat purchases" as well as "increasing wheat storage capacities".
Since the war began, the government has already ramped up wheat purchases from domestic farmers as well as trialing wheat substitutes.
UAE presents national report on spent nuclear fuel to IAEA
The United Arab Emirates has presented its Fourth National Report on spent nuclear fuel, radioactive waste management at the International...The national report describes the legislative and regulatory measures taken by the UAE to meet its obligations
The report also addresses options in regards to spent fuel and radioactive waste management
Israel heads towards snap election, Lapid poised to be PM
Israel's parliament is expected to dissolve Wednesday, ending Prime Minister Naftali Bennett's year-long tenure and triggering a fifth election in...Bennett's motley alliance formed in 2021 offered a reprieve from an unprecedented era of political gridlock, ending Netanyahu's record 12 consecutive years in power
Lapid is expected to take office at midnight after parliament gives final approval to a dissolution bill, in accordance with the power-sharing deal he agreed with Bennett last June
Gulf boosts oil production amid global fuel crisis
Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day...Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day
Kuwait Oil Corporation is enlarging the capacity of Al-Zour refinery to 615,000 barrels a day, making it the world's largest facility to do so
Equities in Asia and Europe tank on recession fears
Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European markets...Wednesday’s selling came after New York's three main indexes tanked in reaction to data showing confidence among US consumers had fallen to its lowest level in more than a year
Top Fed officials on Tuesday tried to play down the chances of a recession, with the heads of the Fed in San Francisco and New York saying a soft landing could be achieved
Oman, Egypt to find ways to establish Joint Investment Fund
In a joint statement, the two countries directed their respective competent authorities to discuss investment opportunities in various fields.In a joint statement, the two countries directed their respective competent authorities to discuss investment opportunities in various fields
They also discussed investment opportunities in various fields, especially energy and renewable energy projects, industry, health and pharmaceutical industries
‘Resilience more vital than efficiency for GCC startups’
The ongoing Covid-19 pandemic teaches several lessons to regional businesses, says UAE Minister Ahmad Belhoul Al Falasi.The ongoing pandemic teaches several lessons to regional businesses, says UAE Minister Ahmad Belhoul Al Falasi
The entrepreneurship ecosystem in UAE has not yet reached full maturity but 'we are about 60-70% there', he adds
Time to deliver decarbonization targets set last year
In the Middle East, the UAE and Saudi Arabia have been leading the decarbonization conversation with pivotal government initiatives that...The number of companies establishing science-based targets for decarbonization had strongly increased since 2015, but it rose dramatically in the run-up to COP26
Executives are trying to pursue their decarbonization targets during a period of turbulence that has created historic levels of uncertainty and numerous difficulties
