COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...Economy Climate Change
Eurozone business activity continues downward trend in December
BRUSSELS, BELGIUM - Business activity in the eurozone slumped at a faster rate in December, weighed down by a deeper downturn...Economy
Shekel surplus weighs down Palestinian economy
In Israel, as in many advanced economies, digital payments are rapidly growing, taking the place of transactions once done with...Palestinians in the West Bank use the Israeli shekel but the two financial systems are dramatically different
Experts and business people say the buildup of hard currency risks stifling the Palestinian financial system
Qatar tops GCC region in food security
The country's National Food Security Strategy 2018-2023 is geared to increase the strategic stock of food commodities to ensure food...In terms of food security indicators, the country ranks first in the Arab world and 13th globally, according to the December 2019 World Food Security Index
Qatar’s "National Food Security Strategy 2018-2023 is geared to achieve local food security and increasing the strategistock of food commodities
Bahrain central bank issues e-cheques
The e-cheques will retain all the basic functions, legal validity, and benefits of paper cheques while providing a paperless payment...The e-cheques will come into effect on October 19, and will be available through two apps
They are expected to complement traditional paper cheques, which are a popular payment instrument in Bahrain
UN calls for ‘transformative action’ on World Food Day
UN Secretary-General Antonion Guterres has called for changes in the way the world produces, consumes, and wastes food. His remarks...Around 40 percent of the world — roughly 3 billion people — cannot afford a healthy diet
The Covid-19 pandemic has left an additional 140 million people unable to access the food they need
Banking on apps for personal finance
People in the Middle Eastern countries are increasingly relying on apps to manage their money, streamline expenses and other banking...TRENDS presents a list of apps that can be used to manage personal finances in UAE and elsewhere in the region, as well as those that can be used anywhere
Middle East has one of the highest percentages of smartphone penetration in the world
Brazil’s Paraná emulates UAE to be a logistics hub: Governor
In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his...In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his state and the UAE are on an upswing
In an exclusive interview with WAM in Abu Dhabi, Carlos Roberto Massa Ratinho Junior said the economic relations between his state and the UAE are on an upswing
Saudi non-oil exports post 37% record jump to SR125.3bn
Saudi Arabia’s non-oil exports rose 37 percent to a record SR125.3 billion in the first half of 2021, SPA reported....They increase by 8 percent in quantity, equivalent to 34.7 million tons, suggesting a rebound in prices as volumes returned to normal
Saudi Arabia exported to 170 countries in the first half, led by SR17.0 billion of goods to the UAE
Egypt’s current account deficit widens in Q1 as imports surge
Egypt's current account deficit widened in the first quarter of the current financial year because of a surge in imports...A strong currency helped boost imports to $19.59 billion in the quarter from $13.83 billion a year earlier
Two years earlier, before the pandemic, Egypt reported tourism revenue of $3.18 billion for the April-June period
Moody’s changes Oman economy outlook to Stable
Moody’s expects Oman’s current account deficit to decline below 4 percent of the GDP in 2021-23 from more than 13...Moody’s said the change ‘reflects the significant easing of pressures on government liquidity and external financing’
This is said to have come as a result of the ongoing implementation of the Medium-Term Fiscal Plan and a relative rise in oil prices
Turkish lira hits record low as Erdogan sacks central bankers
The Turkish lira sank to a record low against the US dollar on Thursday after President Recep Tayyip Erdogan fired...One of the dismissed bankers was reportedly the only one to vote against a surprise interest rate cut last month.
A dollar was worth 3.75 lira at the start of 2018. Erdogan has fired three central bank governors since 2019.
