UAE’s CEPA program marks ‘exponential growth’
“Trade has always been important to the UAE, a bridge connecting our products, skills, and natural resources to the world,...Economy
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...Business Economy
UAE and UK look to upgrade economic ties
The United Arab Emirates and the UK have agreed to develop trade and economic relations between the two countries.The two parties highlighted the high level of bilateral relations between the UAE and the United Kingdom, and the joint desire in constantly developing these ties
The two sides also praised the progress made in countering illicit financial flows
India announces digital currency and ‘crypto tax’ in budget
India will have its own digital currency starting 2022-23, Finance Minister Nirmala Sitharaman said while announcing the country’s budget for...India is launching a digital currency that is expected to use blockchain and other technologies
The country is also levying a 30 percent tax on all virtual digital assets, which could mean cryptocurrencies
Lebanon power cuts turn cafes into coworking spaces
For the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.The power cuts have left many already with no option but to plant themselves in cafes all day
The 23-hour power cuts and the falling quality of many internet connections have complicated matters
IMF and World Bank delay annual meet again
The annual meetings set to take place in Morocco will be held in Washington.The 2020 meeting of IMF, World Bank was held virtually and the 2021 meeting in a hybrid format
Marrakesh was scheduled to host in 2020, will be the site of next year's event
Egypt finalizes pact with Siemens to run high-speed train line
Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country....The new line will extend from 6th of October city to Aswan, with a length of 925 kilometers (575 miles approx).
The cost of this project will be financed through a soft foreign government loan and the state's general budget.
IACE President warns Tunisia as a state can collapse
The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could...He added that it is necessary to save the remaining urgently, stressing that "the current economic situation does not allow us to waste any more time
In a report published this month, the forum ranked Tunisia among the five countries threatened by the spectre of the collapse of the state
dnata of Dubai to invest $233m in Amsterdam Airport
dnata, the global air and travel services provider, will invest more than $223.22 million in a fully automated cargo center...dnata Cargo City Amsterdam will significantly enhance cargo capacity in The Netherlands and create new, direct jobs with dnata
It will enable dnata and its customers to substantially expand operations and business, stimulating local economy and trade
UAE to levy 9% tax on business profits from next year
The UAE’s Ministry of Finance will start levying a 9 percent tax on business profits from June 1, 2023 thereby...The ministry has confirmed that it will impose no tax on profits of up to AED375, 000
The tax will be levied on all corporations and commercial activities in the country, except for the "extraction of natural resources"
High gas prices to hit demand in 2022: International Energy Agency
IEA said the demand for natural gas is expected to fall sharply in Europe and slow in Asia. Gas demand...Consumption grew by 4.6 percent last year, more than double the decline experienced as the pandemic emerged in 2020, said the agency.
How demand will fare in the short-term will depend on the weather during the northern hemisphere's heating season, the IEA said in a report.
Portugal re-elects PM Antonio Costa with majority
Under PM Costa's watch, Portugal has the highest immunization rate against Covid-19 in Europe, maintained fiscal discipline, increased the minimum...The Socialists received 41.7 percent of the vote giving it 117 seats in the 230-seat parliament, up from 108 in the outgoing assembly
The early election came as the nation of around 10 million people tries to boost its tourism-dependent economy
