Gold extends slide after Fed dampens March rate cut hope
Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...Business Economy
Counterfeit products cost Europe $13 billion, 200,000 jobs a year
Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...Business Economy
Clean sources transformed UAE energy sector in a decade: ENEC chief
The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered...Barakah Nuclear Plant is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country.
With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand.
Red Cross chief Mardini on Iran visit talks Afghans’ plight
More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to...More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to Iran's state news agency IRNA
Thousands of Afghans daily try to cross into neighboring Iran in search of work, or in a bid to reach Europe in the hope of asylum
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted...New discussions on the Russian oil embargo are expected to be held between European leaders by telephone on Tuesday
It will involve French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and Hungary's Prime Minister Viktor Orban
Russia shells Ukraine’s Odessa as US pledges fresh arms for Kyiv
Russian President Vladimir Putin has said the West and Ukraine are responsible for the ongoing war, telling his country's Victory...A Russian airstrike in Odessa killed one and destroyed buildings and a shopping center, hours after the European Council president visited the war-torn country
The US resurrected a World War II measure to aid Kyiv, opening the spigots on artillery, anti-aircraft missiles, anti-tank weapons, and another powerful Western materials
‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...People tense or stressed at work are more than three times likely to plan to look for a new job
In contrast, employees who feel supported are more likely to stay, lowering turnover costs
UN says ‘imminent’ Yemen oil spill would cost $20 bn to clean up
The United Nations warned Monday that it would cost $20 billion to clean up an oil spill in the event...The 45-year-old FSO Safer, long used as a floating oil storage platform with 1.1m barrels of crude on board, has been moored off the rebel-held Yemeni port of Hodeida since 2015
The UN official had earlier announced on Twitter that the Netherlands would host on Wednesday a pledging conference for the international body's plan to avert the crisis
Bitcoin falls below $30,000, lowest since July 2021
Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors...Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000
Traditional investors have been offloading bitcoin and other digital tokens along with other volatile assets like tech stocks
UAE increases Emiratisation rate to 2 percent annually
NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector.NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector
The incentives include reducing the service fees of the private sector establishments which recruit and train Emirati citizens by 80 percent
Oil, stimulus packages revive Arab world’s growth
The growth rate of Arab economies is expected to increase to around five percent in 2022 on the back of...The GCC countries' growth rate is expected to hit 5.8 percent in 2022, up from 3.1 percent in 2021
In 2023, the Arab countries as a group are predicted to develop at a rate of around four percent
Saudi fights to lead ‘saturated’ MidEast aviation market
Saudi Arabia on Monday pitched aviation industry leaders on its plans to become a global travel hub, drawing scepticism from...The kingdom's aviation goals, part of "Vision 2030" reforms, include more than tripling annual traffic to 330 million passengers by the end of the decade.
It also wants to draw $100 bn in investments to the sector by 2030, establish a new national flag carrier and construct a new "mega airport" in Riyadh.
