Economy - TRENDS MENA

Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...

Dubai Electricity and Water Authority (DEWA) is implementing the Mohammed bin Rashid Al Maktoum Solar Park clean and renewable energy...
When completed, the park will reduce over 6.5 million tons of carbon emissions annually.
Dubai also launched the Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of Dubai's total power capacity from clean energy sources by 2050.
Saudi Arabia, Russia and other key producers agreed to adjust upward the monthly overall production by 0.432 mb/d for the...
As in previous months, the cartel continued to open the taps slightly, a strategy begun in the spring of 2021 when the economy began recovering after the pandemic-induced cuts.
Russia's invasion of Ukraine has added to supply concerns, which have increased with Europe's announced moves on a potential Russian oil embargo.
Financial institutions are exposed to significant risks posed by depleted and contaminated water supplies, a report released by non-profit Carbon...
A first-of-its-kind report by CDP and Planet Tracker shows how global companies in key industries are already losing billions as a result of the global water crisis.
By focusing on oil & gas, electric utilities, coal and metals & mining sectors, the report found that $13.5 bn in assets are already stranded and $2 bn at risk due to water issues.
The Bank of England on Thursday raised its main interest rate by a quarter point to one percent to tackle...
BoE policymakers voted 6-3 at a regular meeting for a hike to one percent -- the highest level since the global financial crisis in 2009
The latest increase came as Britons on Thursday headed to the polls in local elections, seen as a mid-term test for embattled Prime Minister Boris Johnson
In order to curb the soaring inflation in the kingdom, the Saudi Central Bank (SAMA) has raised its main interest...
SAMA raised its repo rate and reverse repo rate to 1.75 percent and 1.25 percent respectively
The Saudi decision came in the wake of the US Federal Reserve decision to hike the interest rate
Turkey's official inflation rate spiraled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to...
The consumer price index rose by 69.97 percent year-on-year in April compared with 61.14 percent in March, the national statistics agency said
Erdogan insists that sharp cuts in interest rates are needed to bring down soaring consumer prices, flying in the face of economic orthodoxy
The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility...
This decision was taken following the US Federal Reserve Board’s announcement on Wednesday to increase the Interest on Reserve Balances (IORB) by 50 basis points.
The bank also decided to maintain the rate applicable to borrowing short-term liquidity from the CBUAE through all standing credit facilities at 50 basis points above the Base Rate
State Department spokesman voiced skepticism about the ceasefire, saying that Moscow has repeatedly resumed shelling after announcing pauses.
European Union vowed to "significantly increase" its support for Moldova which has been targeted by a Moscow-backed separatist region
Ukrainian Foreign Minister said that EU countries would be "complicit" in Russia's crimes in Ukraine if they block an oil embargo against Moscow
Turkey's official inflation rate spiralled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to...
Erdogan insists that sharp cuts in interest rates are needed to bring down soaring consumer prices, flying in the face of economic orthodoxy
The collapse of the lira has pushed up the cost of energy imports and foreign investors are now turning away from the once-promising emerging market
Industry specialists in the region believe that the sector is becoming more sustainable despite many conflicting goals and complex challenges....
With COP27 being held in Egypt in November 2022 and COP28 in the UAE in 2023, the MENA region is firmly putting climate change in the spotlight
A key focus in the run-up to the two conferences is on accelerating policy, technology, and deployment of finance to set regional economies on a path to decarbonization