Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...Business Economy
World Economic Forum foresees ‘significant economic slowdown’
Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...Economy
Saudi Arabia elected head of ICAO’s Regional Aviation Safety Group
The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17.The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17
The Middle East Regional Aviation Safety Group (RASG-MID) aims to develop an integrated data-driven strategy
Dubai Customs launches ‘Training Doses’ initiative
The initiative will also help in consolidating controls and combat all customs violations, including smuggling.The initiative will also help in consolidating controls and combat all customs violations, including smuggling
The Training Doses initiative is in line with Dubai Customs’ strategic plan, which focuses on developing human cadres
Egypt raises overnight interest rates to tame inflation
In order to tame soaring prices in the country, the Central Bank of Egypt has raised its overnight interest rates...The bank’s Monetary Policy Committee increased the deposit rate to 11.25 percent from 9.25 percent and the lending rate to 12.25 percent from 10.25 percent
Prices were pushed up in part by a currency depreciation and higher wheat prices after the Ukraine crisis, the statement added
Smart money is in video games, Web3: Futurist at TOP CEO event
Raford contended that people should invest in video games, as it is the only successful digital economy so far.Raford contended that people should invest in video games, as it is the only successful digital economy so far
The metaverse, he said, has extraordinary potential and Dubai is moving rapidly to take advantage of it
China to cut key interest rate as it seeks to boost economy
China on Friday announced it would cut a key interest rate as the country fights to boost its virus-hit economy...The five-year loan prime rate (LPR) is 4.45 percent," China's central bank said on Friday
The one-year loan prime rate, which guides how much interest commercial banks charge to corporate borrowers, remained unchanged at 3.7 percent
UAE tourism sector set new record in Q1 2022 : Tourism Minister
Tourism is deemed one of the future sectors and a key focus area in the UAE’s development vision for the...According to tourism figures for Q1 2022, the country's hotel establishments attracted nearly 6 million visitors
The average duration of hotel guest stays reached 25 percent during the same period, up from 3 nights to 4 nights
UAE and Turkey export credit agencies to enhance trade ties
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Turkey’s export...The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance and project financing, ECI said in a statement.
Turkey is the UAE’s seventh-largest trading partner, with the non-oil trade between the two reaching AED 49.4 billion.
All work-related leaves in UAE fall under contribution period: GPSSA
Government sector employers are mandated to bear full contributions due from the insured in cases where he/she is accompanying a...The responsibility to pay contributions due by insured individuals varies depending on the reason for the leave granted by their employers.
Both the insured and the employer bear their share of contributions according to what the law has determined in the case of a paid leave.
UAE-Germany non-oil trade 10.5 percent to $9.5 billion in 2021
The non-oil trade between Germany and the UAE amounted to $9.5 billion during 2021, a 10.5 percent increase compared to..."Our economies are both very much geared for the possibilities of the future," Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade
Al Zeyoudi said that Germany has become UAE's most important trading partner in the Middle East.
‘Lifeline’ of renewable energy can steer world out of climate crisis: UN chief
"We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António..."We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António Guterres said
Guterres called for a new global coalition led by governments and bringing together tech companies, manufacturers and financiers to fast-track innovation and deployment
