Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...Business Economy Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...Economy Energy
Saudi Arabia lifts most Covid-19 restrictions
The decision includes suspending ‘social distancing measures in all open and closed places’ including mosques.The Covid-19 pandemic hugely disrupted Muslim pilgrimages, which are usually key revenue earners for the kingdom, bringing in some $12 billion annually
In 2021, the pandemic forced Saudi Arabia to downsize the hajj for a second year, and just 60,000 fully vaccinated citizens and residents taking part
New UAE law boosts family business growth
Haoula considers it extremely important to sustain family businesses as a recognition for their efforts historically, and for the advantages...Corporate tax in the UAE is expected to be among the most competitive in the world, due to the 9% introductory rate and no tax for profits up to $102k
Personal income that does not come from a licensed business or commercial activity in the UAE will not be subject to corporate tax
Moody’s says Ukraine war endangers global economic recovery
The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the...Europe's recovery would be at risk if the military conflict escalates, according to VP-Senior Credit Officer at Moody's, Kelvin Dalrymple
Rising prices for commodities from the region, such as oil, grains and metals, are increasing inflationary pressures, Moody's said
Food Price Index hit record high in February: UN agency
The Food Price Index, which tracks the international prices of a items such as vegetable oils and dairy products went up nearly...The Food Price Index, which tracks the international prices of a items such as vegetable oils and dairy products went up nearly four percent up from January
As the Food Price Index measures average prices over the month, the February reading only partly incorporates market effects stemming from the conflict in Ukraine
Ukraine conflict fuels supply chain concerns
Since Russia invaded, almost 80,000 Ukrainians have returned to fight Russia, leaving industries short of labor.Because of the ongoing invasion on Ukraine, shipping companies have had to find new routes, and shipping prices immediately increased
Oil prices have also rocketed since the invasion as Brent North Sea crude rose to $120 per barrel and gas prices hit record highs
UAE adopts Ramadan working hours for federal authorities
The UAE Government on Friday announced the official working hours during the holy month of Ramadan for ministries and federal...The decision also allows federal authorities to implement flexible working and remote work systems on Fridays during the month
The rules for working from home stipulate that both employees and their work should meet related requirements
Added to FATF grey list, UAE renews vow to nix financial crimes
The UAE is the latest country to be added to the list, and will have to work closely with the...The Financial Action Task Force has included the United Arab Emirates in the ranks of ‘jurisdictions with strategic deficiencies,’ also known as the ‘grey list’
Countries on the list have to commit to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring
China sets lowest growth target in more than three decades
Beijing will target gross domestic product growth of around 5.5% this year, according to a prepared speech by Premier Li...Beijing will target gross domestic product growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang
Most economists surveyed by Bloomberg predicted the government would set a range of 5%-5.5%
Bahrain signs pact with Cisco
The company will build the government’s data network.The agreement was signed on the sidelines of the visit of Crown Prince Salman bin Hamad Al Khalifa to the United States
The CEO of the Bahrain Information and eGovernment Authority, Mohammed Ali Al Qaed, said that the pact reflects the Kingdom’s commitment to adopt latest technological trends
Living rough in Morocco, migrants dreams of Spanish enclave
Melilla and Ceuta, Spain's tiny enclaves, have the EU's only land borders with Africa that attracts desperate migrants to escape...Around 500 migrants out of 2,500 managed to cross Morocco's border with a Spanish enclave this week, authorities have confirmed
In May 2021, almost 10,000 migrants stormed Ceuta as Moroccan border forces did not stop them, highlighting Spanish reliance on Moroccan cooperation on migration
