Russia won’t consider ratings while granting loans to countries
Previously, to be eligible for a loan from Moscow, a country could not be categorized in the sixth or lower...Economy
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...Business Economy
Dubai reduces carbon emissions by 33 percent in 2020
Dubai reduced its carbon emissions by 33 percent in 2020, which is more than double the target of the Dubai...The reduction in emissions is more than double the target of the Dubai Carbon Abatement Strategy 2021.
The share of clean and renewable energy capacity is now 11.38 percent of Dubai’s energy mix.
Arab youths are increasingly saving, investing with fintech
The region's economic instability, exacerbated by the coronavirus pandemic, has spurred many to turn to online banking and financial tools.S&P Global said in a 2019 report that indicators showed Gulf Arab countries appeared the readiest for fintech adoption
The key driver was expected to be demand and a preference by clients for digital banking
Morocco’s economy to grow 6.3% in 2021, says IMF
Morocco’s new government aims to narrow the wealth gap in the country where unemployment is running at almost 13 percent....After shrinking at 6.3% in 2020, Morocco's GDP is expected to grow at 6.3% in this year
Morocco's health crisis caused by coronavirus has been controlled
North Syria feels the pinch as Turkey lira nosedives
Inflation in Syria is soaring just as fast as it is in neighboring Turkey, with basic food items such as...The town of Al-Bab lies in northern Syria in recent years has turned into a de facto Turkish protectorate
Because the Turkish lira is now the main currency in the area, its recent nosedive has heaped further pain on the people living there
Social insurance protection is for all GCC citizens, says UAE
As per the system, the insured will receive end of service benefits in accordance with the retirement law in the...The decision to provide the social insurance protection system to GCC citizens working in other countries was issued by GCC
The UAE began implementing the system of extending social insurance protection on 1 January 2007 under law No.18
Dubai becomes world’s first paperless government
The Dubai Paperless Strategy was implemented in five consecutive phases, each of which enlisted a different group of Dubai Government...The strategy was launched in 2018 to help Dubai become the world’s first paperless government
The Dubai Paperless Strategy was implemented in five consecutive phases, each of which enlisted a different group of Dubai government entities
Libya conference seeks investment in country’s south, the gateway to Africa
The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and...The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and international participation
The participants sought investments in renewable energies, mining, agriculture, tourism, real estate investment, infrastructure and free zones
Germany gives €21 million to support Palestinian refugees
Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank...Germany will provide €15 million to ensure that 50,000 Palestinian refugee children in Gaza and 46,000 in the West Bank have continued access to learning in UNRWA schools
The country will also support the early recovery of Palestine refugees in Gaza affected by the latest Israeli aggression through a €6 million contribution
S&P lowers Turkey outlook to negative, citing ‘rising risks’
Turkey's annual inflation has surged above 20 percent to its highest level in three years after President Recep Tayyip Erdogan...The move was part of Erdogan's strategy to revive his sagging approval numbers ahead of an election due by 2023
In justifying its outlook downgrade, S&P pointed to both price increases and the lira currency's loss in value as risks
UAE elected to Council of International Maritime Organization for third time
The UAE has been re-elected to the Council of the International Maritime Organisation (IMO) in the Category B membership for...The results of the election were announced during the 32nd session of the IMO Assembly in London.
UAE ranks fifth as a key competitive maritime hub and 13th globally in Port Performance and Efficiency Index.
