Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...Economy Climate Change
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...Economy Climate Change
Kuwait’s Burgan Bank gets approval to issue $500m senior bonds
Kuwait's Burgan Bank has been allowed to issue up to $500 million senior unsecured bonds under its Euro Medium Term...The bank said the proceeds from the bond issuance will help it reinforce its long-term liquidity.
The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with redeem option.
Dubai 11th popular city for investment visa programs, second for Covid safety
Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...Dubai scored highest overall in the index in the tax category.
The emirate was second on the index for Covid-19 safety.
UAE’s non-oil trade weathers pandemic to reach $371 billion in 2020
DUBAI: The UAE's non-oil trade rose to AED 1.403 trillion ($371 billion), reflecting the country's robust trade exchanges despite the...Imports have hit AED 785 billion, accounting for 56 percent of total merchandise trade.
China was UAE's main trading partner with the bilateral trade value reaching AED174 bn.
The Grand Renaissance Dam: Egypt’s Nile nemesis
Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.
UAE, Israel eye trillion-dollar business
The UAE marks one year since normalising ties with Israel today as the leaders hope the Abraham Accords could reap...The economic benefits have come quickly for the UAE and Israel after the US-brokered Abraham Accords
Both have signed a series of deals ranging from tourism to aviation and financial services
Abu Dhabi crown prince, Macron discuss bilateral ties
The two leaders discussed bilateral relations, investment opportunities, economy and culture, as well as other vital sectors, to drive sustainable...The two leaders review regional developments, which is likely to include Afghanistan
The UAE has set up an air bridge to deliver tonnes of aid to Afghanistan
Lebanon to order central bank forensic audit soon
Lebanon's outgoing finance minister Ghazi Wazni has told reporters that auditing firm Alvarez & Marsal would be signed on within...Central bank governor Riad Salameh is already under the scanner for his alleged role in Lebanon’s economic crisis
The former Merryll-Lynch banker is also being investigated by French authorities over money-laundering charges
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.For Kuwait, Finance Minister and Minister of State for Economic and Investment Affairs Khalifa Hamadah signed the memorandum
World Bank’s Regional Director for Saudi Arabia and the Arab Gulf Countries, Esam Abo-Sulaiman was the co-signatory
Shipping industry evades gloom, makes big money
The pandemic might have battered other sectors of the world economy, but the shipping industry has raked in revenues not...Jump in earnings has been caused due to a 333% hike in shipping cost
The hike in cargo charges, however, has raised the specter of inflation around the globe
Saudi insurance sector Q2 results: premiums up, net income down
DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent...Fall of net income by 59 percent attributed to the claims returning to pre-pandemic normal levels.
Energy and property claims grew by 98 percent and eight percent respectively.
