Markets track Wall St rally but China worries cast shadow
Broader markets were also enjoying a day in the sun though traders struggled to maintain the morning's momentum. Tokyo put...Economy
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...Economy
Russia to pay overseas debt in rubles as US exemption ends
Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption...Punishing Western sanctions on Russia have largely severed the country from the international financial system.
Russian Finance Minister Anton Siluanov said the current situation was "artificially created by an unfriendly country".
Sanctions hit Russia, Iran to boost cooperation in energy and trade
Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister...Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West.
The two countries vowed to increase the use of their national currencies in their trade exchange.
UAE non-oil foreign trade close to AED500bn in first quarter of 2022
According to the UAE’s Federal Competitiveness and Statistics Centre, this was a growth of 20.5 percent compared to AED414.6 billion...Gold topped the list of leading commodities included in the UAE’s non-oil foreign trade, with a value of AED84.4bn
Diamonds stood second with a value of AED40bn, followed by telephone and communication devices with a value of AED37bn
Saudi non-oil exports hit $21 billion in the first quarter of 2022
Saudi Arabia’s non-oil exports in the first quarter of 2022 reached 77.8 billion riyals ($21 billion), growing nearly 29 percent...Overall merchandise exports increased by 72.7 percent in Q1 2022 compared to Q1 2021, reaching 359.3 billion riyals, up from SAR 208.0 billion in Q1 2021.
This increase originated mainly from oil exports, which rose by SAR 133.6 billion or 90.3 percent in the same period, the General Authority for Statistics said.
Seeking new start, Russian professionals set up shop in Dubai
Entrepreneurs, lawyers and art dealers are among those flocking to the financial hub in the oil-rich United Arab Emirates, which...They are attracted by the ease of setting up a business, and the prospect of better opportunities as sanctions bite at home -- and a more welcoming environment.
The city, with its luxury hotels and tourist facilities, is well known to Russians as a high-end destination for the wealthy, particularly those interested in real estate.
More than 70 migrants missing after boat sinks off Tunisia: coastguard
More than 70 people are missing in the Mediterranean after a boat crowded with migrants headed for Europe from Libya...Libya has become a major launchpad for migrants seeking to reach Europe on what has become the world's deadliest migration route
Last year, 15,671 migrants attempted to reach Italy from Tunisia, up from fewer than 13,000 in 2020, according to the Tunisian Forum for Economic and Social Rights
ECB warns of risks to financial markets from Ukraine war
Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European...Inflation in the eurozone has accelerated as costs for energy, agricultural goods and raw materials have risen sharply
The development in prices has prompted central banks in developed countries to turn to interest rate hikes to tamp down inflation
UAE invests Dh62.6b in Jordan development projects
Abu Dhabi Development Fund for Development has financed AED6.5 billion worth of development projects in Jordan.Abu Dhabi Development Fund for Development has financed AED6.5 bn worth of development projects in Jordan
Jordan’s GDP has risen by 6.5 percent, with investment contributing about 13 percent to it
Energy, technology and finance lead Gulf IPOs
Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin...Overall, equities in GCC capital markets performed well, with deal volume and valuation up 369 percent in 2021 compared to 2020, bringing in $7.7 billion in new money.Â
Energy, Utilities and Natural Resources accounted for 42 percent of the total IPO proceeds, TMT 27 percent and financial services 21 percent.
Saudi Arabia to form national land alliance: Minister at GLF
The forum will discuss issues like land decentralization, climate crisis, youth and land-based opportunities in rural areas, and building partnerships.The Saudi agriculture minister Khaled Hneifat was speaking at the 9th triannual four day Global Land Forum.
The forum is organized by the Ministry of Agriculture, the SEEDS Jordanian youth organization and the EU.
