Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...Economy
Lebanon economy to plunge into recession due to Gaza war
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...Economy Geostrategy
ATRC awards $10 million in research funding to 53 R&D projects
Abu Dhabi’s Advanced Technology Research Council (ATRC) on Tuesday announced that it has awarded AED40 million ($10 million) in research...Grant funding is allocated to entities in eight key sectors such as aerospace and energy.
The awardees were picked from 370 proposals in ASPIRE Award for Research Excellence and ASPIRE Young Investigator Award.
Bahrain launches investment platform allowing access to strategic projects
The Economic Development Board (EDB), Bahrain's investment promotion agency, on Tuesday announced the launch of the investment platform (invest.bh) that...Bahrain's Economic Recovery Plan has seen the announcement of strategic projects worth more than $30 billion.
Investable projects include Bilaj Al Jazayer Tourist City, Bahrain Metro, USA Trade Zone, Aluminium downstream zone and Sports City.
UAE Cabinet approves laws for housing loans, medicines
The UAE cabinet has also approved policies to boost the creative sector, and even rehabilitate convicts and juvenile delinquents.The UAE Cabinet has approved the requirements and conditions to clear housing loans for Emiratis
It has also approved the UAE National Medicine Policy, which aims to achieve equitable availability and affordability of essential medicines
US Federal Reserve says Omicron poses risks to economy
Fed chief Jerome Powell has said the new strain could also heighten uncertainty regarding inflation.The US central bank’s chief Jerome Powell is growing more concerned about this year's price increases
The price rise has put pressure on the Federal reserve to raise interest rates more quickly
OPEC+ meets under pressure from Biden and Omicron
The meeting "is shaping up to be one of the most significant since the pandemic demand recovery began, and the...Biden called it a "major initiative", with analysts estimating the injection at between 65 and 80 million barrels, including 50 million from the United States alone.
The group said earlier this month it planned to boost output by 400,000 barrels per day in December, despite a room for manoeuvre that is 10 times greater
Saudi Fund for Development to give $3 billion to Pakistan
Saudi Arabia reactivated its support for Pakistan in the last week of October, including about $3 billion in safe deposits...Saudi Arabia reactivated its support for Pakistan in the last week of October, including about $3 billion in safe deposits and $1.2 billion in oil supplies on deferred payments
The SBP statement said the deposit agreement reflected the strong and special relationship between the Kingdom of Saudi Arabia and Pakistan
UAE seeks to diversify economy beyond oil
With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a...With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank
But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP
UAE and Greek credit insurance organizations to promote businesses
The UAE's federal export credit company Etihad Credit Insurance (ECI) signed an MoU with Greece’s Export Credit Insurance Organization (ECIO)...An MoU between Etihad Credit Insurance and Greece’s Export Credit Insurance Organization will also promote SMEs.
This agreement follows the recent UAE-Greece high-level diplomatic meetings between the ministers of both countries.
Iraq’s budget for 2022 to focus on investment projects
Iraq’s general budget for 2022 will focus on implementing a set of investment projects in line with diversifying economy and...Salih belives the fluctuations in the oil markets and the global economic situation will cast a shadow over the draft general budget for 2022
The Ministry of Planning said that employee salaries, social protection and other expenses were not affected by the delay in approving the general budget law
Qatar to train cadres from national forces for job market
Qatar's Ministry of Labour has signed a Memorandum of Understanding (MoU) with the Qatar Financial Centre (QFC) Authority to train...Ministry of Labor will provide national workforce data of male and female candidates to be employed at companies licensed by the QFC Authority.
The move is aimed at realizing the objectives of Qatar National Vision 2030.
