Saudi authorities reduce fee for recruiting domestic help
Riyadh, Saudi Arabia - Saudi Ministry of Human Resources and Social Development (MHRSD) announced on Monday that it has cut...Economy
Saudi govt exposes violations in expatriate partnerships
Riyadh, Saudi Arabia - The Saudi National Program to Combat Commercial Concealment has exposed various instances falling under the umbrella...Economy
French economy posts zero growth in first quarter
The French economy reported zero growth in the first quarter as households reduced their consumption due to rising inflation and...The zero-growth result was weaker than the INSEE agency's pre-war forecast of a 0.3 percent expansion, underlying the economic difficulties faced across Europe
The figure puts an end to France's strong economic rebound from the Covid-19 pandemic and poses a challenge to President Emmanuel Macron
Erdogan discusses Saudi-Turkish relations during his visit to oil kingdom
Turkish President Recep Tayyip Erdogan met with Saudi Arabia's crown prince on Thursday to "develop" relations during his visit to...The pair "reviewed the Saudi-Turkish relations and ways to develop them in all fields," SPA reported
Pictures published by Turkish state media also showed a separate sit-down with King Salman, the crown prince's father.
Indonesia suspends all exports of palm oil
Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked...Authorities in Southeast Asia's most populous country fear the scarcity and rising costs could provoke social tensions
The embargo would include all exports of the oilseed and not only products intended for edible oils
Tunisia must address democracy concerns for aid, says US
“At the very least,’ Tunisia needs to go ahead with parliamentary elections promised by the end of the year, a...Tunisia has been seeking a loan package from the IMF, in which the US is the largest stakeholder
The country is currently coping with an economic crisis aggravated by the Covid-19 pandemic
Lebanon running out of passport stocks
Authorities concerned say that since 2020, requests for passport renewals have been ten times higher than in previous years.Grappling with its worst-ever financial crisis, Lebanon has undergone a massive population exodus that is only worsening as politicians fail to chart a path towards recovery.
According to an Arab Barometer survey published this month, around half of Lebanon's population is looking to exit the country.
Hamdan bin Mohammed okays Dh370m ‘Venture Capital Fund for Startups’
With a capital of approximately AED370 million, the Fund aims to drive Dubai’s economic growth and fortify its position as...With a capital of approximately AED370 million, the Fund aims to drive Dubai’s economic growth and fortify its position as a global hub for financial technology
The Fund is set to contribute around AED3 billion to the emirate’s GDP during the implementation period, which will run for eight years
Total deposits by February end $541 billion: Central Bank of UAE
The Central Bank of the UAE said that total bank deposits increased by 0.3 percent, climbing from AED 1,982.4 billion...The bank said the rise in total bank deposits was due to growth in Resident Deposits by 0.5 percent, overshadowing the reduction in Non-Resident Deposits by 1.4 percent.
The Money Supply aggregate M1 increased by 0.8 percent, from AED 706.5 billion at the end of January 2022 to AED 712.1 billion at the end of February 2022.
MA’ADEN Q1 profit is SAR 2.9b
The company recorded sales of SAR 8.9 billion, up by 64%.The company recorded sales of SAR 8.9 billion, up by 64 per cent from the same quarter last year
EBITDA stood at SAR 4.4 billion, up by 101 per cent compared to the same quarter of 2021
DFZs to contribute AED250bn to Dubai’s GDP by 2030
DFZ Council chairman Sheikh Ahmed underlined the significance of facilitating the investor journey role in strengthening the UAE’s position as...DFZ Council chairman Sheikh Ahmed underlined the significance of facilitating the investor journey role in strengthening the UAE’s position as a preferred investment destination
The Council also explored a new phase of the Invest in Dubai platform that adds 80 new services, including electronic connectivity through a single portal
‘UAE’s new labor law is a game-changer’
Legal and business leaders tell TRENDS that the new legislation is in line with the industrial modernization roadmap that the...The changes in the new labor law are fairly substantial and necessitate amendments to existing employment contracts
They also call for modifications to policies and procedures concerning future agreements with new employees
