Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...Economy
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same...Economy
China-backed bank halts lending to Russia, Belarus
In a statement issued Thursday, the AIIB said that "in the best interests of the bank, management has decided that...In a statement issued Thursday, the AIIB said that "in the best interests of the bank, management has decided that all activities relating to Russia and Belarus are on hold
China, whose bilateral relationship with Russia has strengthened in recent years, has thus far avoided criticizing Moscow over its invasion of Ukraine
Erdogan replaces agriculture minister of Turkey
Turkish President Recep Tayyip Erdogan appointed Vahit Kirisci as minister of agriculture and forestry after the resignation of Bekir Pakdemirli.A rapid succession of floods and wildfires engulfing Turkey killed some 100 people in July and August last year
Turkey was criticized over the lack of firefighting planes, and accepted help from Azerbaijan, Iran, Russia, and Ukraine
Saudi fintech cashes in on startups, investments
Saudi Arabia witnesses a 37 percent rise in the number of fintech startups and a $181 million increase in venture...Saudi Arabia witnesses a 37 percent increase in the number of fintech startups entering the market
Saudi fintech sector is mostly driven by young entrepreneurs who compete with the country's top financial institutions
Dubai leads region in innovation, fintech
The emirate, which boasts a thriving community of startup incubators and accelerators, tops the list for foreign direct investment and...Dubai is developing an environment that encourages firms from all industries to innovate.
The city has been able to leverage its strengths as a world-class city to attract global blockchain entrepreneurs.
Bahrain scores high in gender equality, women’s economic participation
The World Bank has reported that Bahrain’s score improved to 73 percent in women’s economic participation and gender equality from...The report, compiled by World Bank Group’s Women, Business and the Law 2022, examines laws and regulations that restrict women’s economic inclusion.
Bahrain’s overall score improved by 9.4 points to a score of 65 out of 100, attributable to Bahrain gaining the perfect score of 100 in the Pay indicator.
Lufthansa posts net loss of $2.2bn
The German carrier said it cut its losses by two-thirds in 2021.German airline Lufthansa said that Ukraine invasion has led to uncertainty in aviation sector
It said rising price of fuel would also adversely impact the sector and could reduce the profit
UAE non-oil trade totals AED16.14 trillion in the last 10 years
The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned...According to Dr. Thani bin Ahmed Al Zeyoudi the UAE aims to increase the level of investment coming to the country to AED1 trillion within nine years
"We work according to the plans of the UAE’s leadership to double national exports, foreign trade and economic growth," Al Zeyoudi said
UAE and Latvia launch economic cooperation program in six sectors
The UAE and Latvia have agreed on a six-track economic cooperation program covering trade and investment, innovation and advanced technology,...The program covers investment, innovation and advanced technology, transportation and logistics, agriculture, food, education and science.
An MoU between the Investment and Development Agency of Latvia (LIAA) and the SMEs Development Department at the UAE Ministry of Economy.
Dubai to have Traffic Safety Strategy 2022-2026
The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road...The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road deaths vision
The strategy will complement what has been achieved within the objectives of the National Agenda and Dubai Plan 2021
Dubai approves Savings Scheme for foreign employees in Govt
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved on...The initiative will also ensure that Dubai remains an attractive career destination that appeals to outstanding talent
The announcement was made during a meeting of The Executive Council of Dubai held at "Deep Dive Dubai."
