Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council
Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...Economy
European Central Bank to signal no rush to cut interest rates
The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes...Economy
Bank of England hikes interest rate for fifth consecutive time
British economic output declined for the second month in a row in April, weighed down by rocketing prices that are...BoE policymakers agreed at a regular meeting to increase the cost of borrowing by a quarter-point to 1.25 percent.
Pound fell 1 percent against the dollar following the announcement, one day after the Federal Reserve hiked US interest rates.
Qatar Airways posts record profit
The profit result was "200 percent above its highest annual historical profit".Qatar Airways, the Middle East's second biggest airline after Emirates, had reported in September last year an overall loss of $4.1 billion in the 2020-2021 financial year.
The Qatari airline said it carried 18.5 million passengers in 2021-2022, an increase of 218 percent over the previous 12-month period.
Venezuela President talks cooperation with Qatar emir
Venezuela's President Nicolas Maduro met Wednesday with Qatar's Emir Tamim bin Hamad Al-Thani in the gas-rich Gulf nation, his fifth...The talks focused in particular on "energy, the economy, investment, agriculture and tourism."
Maduro visited Iran at the weekend where he signed a 20-year cooperation agreement with the Islamic republic
Turkey to host meeting with UN, Russia, Ukraine for export of grains
Turkey is ready to host a four-way meeting with the United Nations, Russia, and Ukraine to organize the export of...Millions of tons of wheat are currently stuck in Ukrainian ports, either blockaded or occupied by Russian forces, and vessels face the danger of mines
The UN Secretary-General's spokesman Stephane Dujarric said Ankara had an important role in resolving the situation which has raised the prospect of worldwide food shortages
Tunisia union demands salary hike on nationwide strike
Up to three million workers could observe the strike, shuttering 159 state agencies and public companies and bringing public transport,...Up to 3 million workers could observe the strike, shuttering 159 state agencies, public companies and bringing public transport to a halt
In a statement on Wednesday, the UGTT union said workers would hold this strike to defend their economic and social rights
GCC central banks raise interest rates
Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised...The Saudi central bank raised repo rate by 0.5 percent to 2.25 percent from a previous 1.75 percent, and the reverse repurchase agreement (reverse repo) rate by 0.5 percent
The UAE was quick to follow Saudi Arabia in hiking interest rate
US Fed raises key interest rate by 0.75%, largest since 1994
The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is...The Fed's policy-setting Federal Open Market Committee raised the benchmark borrowing rate to a range of 1.5-1.75 percent, up from zero at the start of the year
Biden has endorsed the Fed's effort and is hoping for success as his Democrats face the possibility of losing control of Congress in key midterm elections in November
BoE set for fifth rate hike in row as inflation soars
The Bank of England is expected on Thursday to raise its key interest rate for a fifth straight time to...Some experts predict an even higher increase, mirroring aggressive rate-tightening by the Federal Reserve
UK inflation stands at nine percent, the highest level in 40 years, and is forecast to keep rising
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...The report provides information on Aramco's efforts to support the broader energy transition
Aramco expects to update the sustainability report on an annual basis
OIC aims for 25 percent trade among member states by 2025
OIC has set a target of 25 percent trade among member states in the next three years by 2025 and...Organization of Islamic Cooperation has set a target of 25 percent trade among member states by 2025
Biennial general trade fair is vital for promotion of trade and services among OIC member states
