Federal Tax Authority, Etihad Credit Bureau tie up to boost tax compliance
Dubai, UAE--The Federal Tax Authority (FTA) has signed an agreement with Etihad Credit Bureau to enhance tax compliance in the...Economy
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...Business Economy Infographic
S&P gives Saudi economy positive rating after recovery
S&P has revised its outlook for Saudi Arabia from a stable to positive in the light of the recovery of...The positive outlook reflects the improved GDP growth and public finances in the medium term, linked to the Kingdom’s recovery from the COVID-19 pandemic impact
The agency also expected that the Kingdom, in the medium term, will continue its policy to drive growth in the non-oil sectors through planned economic diversification
Oil prices, stocks higher after EU snubs Russia ban
European stocks, which had been firmly higher earlier in the session, ended the day with only modest gainsEuropean stocks, which had been firmly higher earlier in the session, ended the day with only modest gains
Bitcoin rose above $45,000 as Moscow is expected to accept cryptocurrency in exchange for Russian gas
UAE expats seek extra citizenship cushion
More than ever before, wealthy expatriates in the UAE as well as the world are pursuing citizenship options elsewhere.Citizenship investments have become popular among foreign expatriates living in the UAE
Having a Plan B is one of the benefits of getting a second citizenship, especially in uncertain times
UAE and Dutch export credit firms to bolster cooperation, facilitate halal trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding (MoU) with its Dutch counterpart...Etihad Credit Insurance and its Dutch counterpart Atradius DSB to bolster collaboration through joint strategic projects.
The partnership also seeks to facilitate stronger halal trade through ECI’s Sharia-compliant finance solutions.
Saudi Arabia wants Trojena on global tourism map
Trojena is the new mountain tourism destination whose establishment was recently announced by Saudi Crown Prince Mohammed bin Salman.Trojena aspires to redefine visitors’ and residents’ perceptions of mountain tourism
The project will be launched in 2026 and will be located in the heart of NEOM
Palestinian trade deficit rose by 1 percent in Jan 2022
Exports decreased in January 2022 by 16 percent compared to December 2021.Exports decreased in January 2022 by 16 percent compared to December 2021
The imports, on the other hand, slumped in January 2022 by 3 percent compared to December 2021
Canada torn between economy, climate in deciding oil project
Environment Minister Steven Guilbeault will soon face his first major test in deciding on a new offshore oil project.Norwegian firm Equinor is seeking to develop oil discoveries in the Flemish Pass Basin, generating $2.8 billion in royalties
However, exploiting an estimated 300 million barrels of oil over 30 years would set back efforts to curb climate change
Banks break pledges with fossil fuel billions: Report
The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil...The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil fuel producers in 2020 and 2021
The biggest providers of fossil fuel financing were JP Morgan with $81 billion, Citigroup with $69 billion, and Bank of America with $55 billion
Why GCC should heed Fed rate changes
Four Gulf Arab central banks followed in the footsteps of the US Federal Reserve and raised interest rates by a...Any increase in US interest rates affects dollar-pegged countries, including the Gulf countries
Four Gulf Arab central banks raised interest rates by a quarter percentage point, for the first time since 2018
Oman’s GDP rises by 16 percent in 2021, crude biggest contributor
Several other activities recorded an increase, namely transport and warehousing by 19.4 percent, wholesale and retail trade by 15.5 percent,...Statistics indicated that this increase is attributed to the rise in the value-added of oil activities at the end of December 2021 by 38.5 percent.
The largest share was for crude oil at the end of December 2021, which amounted to RO 8.998 billion, constituting a growth of 46.6 percent.
