Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.Business Economy
AI revolutionizes UAE’s life sciences & healthcare
"By leveraging advanced data analysis techniques to process extensive datasets from diverse sources, including genomic data, scientific literature, and clinical...Economy Opinion
Arabian Travel Market 2022 kicks off in Dubai
The Chairman of Dubai World Sheikh Ahmed bin Saeed Al Maktoum, inaugurated the 29th edition of the Middle East’s largest...ATM 2022 is part of Arabian Travel Week, a 10-day festival of travel and tourism events taking place in Dubai
It provides a vital platform for tourism and travel industry leaders in the Middle East
GCC central banks confront surging inflation
After the Fed Reserve raised interest rates to rein in the 40-year-high inflation, GCC members followed the suit as most...Qatar had the highest rate of inflation in the Gulf Cooperation Council region.
At 2 percent, the region's largest economy, Saudi Arabia, had the lowest inflation rate.
Dubai establishes Debt Management Office for financing needs
Dubai has announced the establishment of a Debt Management Office that would be responsible for government's financing requirements, managing the...Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum appointed Rashid Ali bin Obood Al-Falasi as the Chief Executive Officer of the DMO.
It will also be responsible for managing the sovereign debt portfolio and setting strategic objectives and policies.
Global stocks sink on rising rates and China lockdown
World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and...Frankfurt, London and Paris each shed more than one percent nearing the half-way stage after Tokyo closed down 2.5 percent
Oil prices lost two percent on demand worries and the haven dollar rose, while bitcoin plunged to a 2022 low below $34,000
Jury completes evaluation of ‘One Million Arab Coders’ entries
Dubai Future Foundation said Monday that the jury has finished evaluating the projects that qualified for the final stage of...The participants presented their innovative ideas based on programming techniques and applications, and compete for prizes totaling $1.35 million.
A total of 20 projects made it to the final stage of the challenge, the best of which will receive the $1 million grand prize.
Indian rupee falls to new low on inflation fears
The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment...The fall came as Indian stocks on the benchmark Sensex and Nifty50 indices extended losses for a fourth day
Foreign investors have withdrawn a net 1.34 trillion rupees ($17.3 billion) from Indian equities so far this year, stock exchange data showed.
More than 40 migrants drown off Western Sahara: charity
At least 44 migrants drowned on Sunday when their boat capsized off the coast of the Western Sahara, migrant aid...There was no immediate confirmation from authorities in Morocco, which sees the disputed Western Sahara as an integral part of the North African kingdom
Spanish interior ministry says that 40,000 migrants arrived in the country by sea in 2021 and 4,404 migrants died or went missing in attempt to reach Spain
Downtown Beijing goes quiet as zero-Covid policy smothers capital
Millions of people in Beijing stayed home on Monday as China's capital tries to fend off a Covid-19 outbreak with...Lockdown in Shanghai has also intensified, causing outrage and rare protest in the last major economy still glued to a zero-Covid policy
The policy has winded an economy which just months ago had shown China was bouncing back fast from the pandemic
China’s April exports slump to lowest in two years as virus bites
"Lockdowns in large cities like Shanghai and rising input costs are major reasons" behind the underwhelming trade figures, analyst Zhaopeng..."Lockdowns in large cities like Shanghai and rising input costs are major reasons" behind the underwhelming trade figures, analyst Zhaopeng Xing of ANZ Research said.
Import growth was flat in April, an improvement from a 0.1 percent contraction in March, as Chinese consumers remain hesitant under a welter of restrictions across the country
Russia readies Victory Day parade as fight for east Ukraine rages
Russia will celebrate its 1945 victory over Nazi Germany Monday with a show of military might as its army battles...President Vladimir Putin is set to flaunt Russia's power in celebration of Victory Day, as he seeks to justify a war that has gone on far longer than expected
But as huge missiles are towed through Moscow's Red Square , Ukraine will be desperately battling to stop a hoped-for military breakthrough
