Saudi Arabia jumps to second rank in ICT index among G20 nations
Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication...Business Economy Tech & Media
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...Business Economy Geostrategy
UN agency says to cut food aid to Yemen for want of funds
Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014
The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
Indian Minister says UAE most popular tourist destination for his countrymen
The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament...The second and third most popular destinations for Indians were Thailand and Bangladesh, but their figures were way below those of the UAE.
The Minister confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this year.
Natural gas prices hit fresh record peaks on strong winter demand
European and UK gas prices rocketed Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key...European and UK markets beat previous records from October. They are currently about eight times greater than at the start of 2021.
Runaway spot gas prices, alongside other buoyant commodities including crude oil, have fueled mounting concern about spiking inflation worldwide.
Lebanon needs $12-15 billion to kickstart recovery: Central Bank
Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up...Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst in modern times.
Lebanon defaulted on its debt for the first time last year but political leaders have continued to resist key reforms demanded by donors to unlock necessary funds.
Foreign shoppers swarm Turkey after lira crash, rush likely to increase
Local traders say that the number of foreign shoppers has risen four to fivefold. Turkey's lira has crashed after Erdogan...Some of Europe's poorest countries -- go to stock up on everything from underwear to walnuts at a fraction of their cost back home
Erdogan is betting that a cheap lira will create exports-driven growth that puts Turkey on a path followed by China during an economic transformation
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Growing Islamophobia hits Islamic banking in Europe
The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers...The EU is believed to be home to close to 28 million Muslims, who may hold close to $1,247 billion in wealth
The Islamic finance industry has failed to make any impact in Germany and France with relatively large Muslims populations
China Mobile eyes Shanghai IPO
China Mobile is set to raise $7.64 billion in share listing.The 48.7 billion yuan initial public offering would be one of the largest on China's domestic stock markets for a decade
China's largest wireless carrier by revenue was removed from the New York Stock Exchange this year along with fellow state-owned telecoms firms China Telecom and China Unicom
Is GCC inflation out of control?
The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that...Food and beverages in Kuwait accounted for a whopping increase in prices, while education costs decreased 15.46 percent
Saudi Arabia’s annual inflation increase is due to a 6.4 percent growth in transportation costs and a 1.4 percent rise in food and beverage prices
Turkish lira makes rare gains on ‘indirect’ rate hike
Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency...Erdogan announced a complex series of measures Monday aimed at boosting the lira
The lira reversed a 10 percent loss Monday into a 10 percent gain after Erdogan's announcement
