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
Eurozone inflation rises to 2.9% in Dec mainly due to energy costs
The data supports comments by European Central Bank (ECB) chief Christine Lagarde, who has warned that Europe should remain on...Economy
Meta and UAE’s initiative for SBMs launch ‘Boost with Facebook’ program
Meta and The Entrepreneurial Nation program have launched ‘Boost with Facebook’ program in the Emirates that is aimed at attracting...The Entrepreneurial Nation, Ministry of Economy's initiative, helps entrepreneurs set up as well as expand their ventures through PPP.
There are around 350,000 SMBs in the UAE, accounting for 86 percent of the labor force in the private sector and making up over 60 percent of GDP.
Bahrain provides unemployment benefits to 31,099 people in 2021
Bahrain government has provided unemployment benefits to 31,099 citizens in 2021, according to the country’s Labor Minister Jameel bin Mohammed...Unemployment benefit has not been discontinued for any beneficiary who meets the eligibility conditions, said the country's Labour minister Jameel bin Mohammed Ali Humaidan.
Amendments have been made to the Unemployment Insurance Law to keep pace with the economic requirements of Bahraini jobseekers, he said.
Saudi Arabia has stable food stocks, says agriculture minister
Saudi Arabia has taken steps to maintain the stability of domestic supply in accordance with the food security strategy.Abdul Rahman Al-Fadli said Saudi Arabia’s food commodity markets had not experienced any supply shortages
The country has been ranked one of the world’s best in terms of food abundance, added the agriculture minister
Sanctions seek to cripple Russian economy as Ukraine invasion continues
The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities.The measures were backed by the United States, Canada, the European Commission, Britain, France, Germany and Italy
In a symbolic gesture likely to resonate in Moscow and the Kremlin, the stunning news was first delivered from Europe
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of...Kingdom’s residential real estate prices increased by 1.7 percent on an annual basis in the fourth quarter of 2021
Apartment values in Riyadh and Jeddah accelerated by 17 percent and 12 percent, respectively, in the last 12 months
Job creation in Oman posts 129% jump in 2021
In 2021, total revenues of the Ministry of Labor stood at RO 232.9 million ($605million) generated from fees of licenses...The number of new employees in the private sector in 2021 stood at 49276 of which 42609 were contracted employees
The employment-linked training programs and on-the-job training programs benefited 9859 job seekers in 2021
UAE eases Covid-19 protocols for citizens and travelers
The UAE’s National Emergency Crisis and Disasters Management Authority relaxed the rules in coordination with its main partners.At the local level, each emirate now has the flexibility to determine the duration of the quarantine period and PCR tests for Covid-19 contacts
However, they must maintain the need to follow precautionary and preventive measures, which include physical distancing and mask-wearing
DP World acquires 100% stake in Imperial
The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access...The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability
DP World and its subsidiaries employ over 71,000 people across its worldwide operations
Sanctions bore in on Russia over Ukraine invasion
On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and...The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several oligarchs
Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets
Global stocks rebound, oil slips as traders weigh Russia sanctions
In Europe, the three main indices all closed more than three percent higher, recovering most if not all of the...European benchmark Brent crude was down to $96.63 per barrel, having briefly soared past $105 per barrel on Thursday for the first time since 2014.
Western nations added to sanctions on senior Russian officials and business figures as well as Russian banks. The US also blocked tech exports including semiconductors.
