US regulators authorize first bitcoin funds on public markets
The authorization of the ETFs - which are comparable to stocks or mutual funds as far as accessibility to everyday...Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...Economy
Crisis-hit Lebanon reels from latest deadly explosion
At least 28 people were killed when the fuel tank blew upAt least 28 people were killed when the fuel tank blew up
The Lebanon grapples with an economic crisis described by the World Bank as one of the world's worst since the 1850s
Death toll in Haiti quake jumps to over 1200
In hard-hit cities on the southwestern peninsula most of the population spent the night sleeping outdoors in front of their...In hard-hit cities on the southwestern peninsula most of the population spent the night sleeping outdoors in front of their houses
Rescuers faced new pressure with Tropical Depression Grace approaching, raising fears of torrential rainfall
UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs
The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years
UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs
The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years
Dubai property transactions up 50 percent in Q2: Report
Increased international interest has been a key factor in driving residential transactions to near-record levels. Dubai’s handling of Covid-19 pandemic...Residential transaction volume totaled 14,426 units, a rise of 35.48 percent from Q1 2021.
Palm Jumeirah saw the highest increase in villa rents, at 3.9 percent Q-o-Q.
GCC seeks to tap green hydrogen demand
The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
GCC countries have plenty of space, sunshine wind energy in some areas
Inflation in Saudi Arabia leaps to 0.4 percent in July
Owing to higher prices in the transport sector, Saudi Arabia's consumer price index rose 0.4% in July from a year...CPI rise stemmed from higher prices in the transport sector
There was also an increase of 1.2 percent in food and beverages
A lot is at stake for poor in Tunisia
The country's economy is witnessing deterioration as sources of income decline, unemployment rises to 18 percent and rising debt necessitates...Lifting subsidies is a risky decision that could spark public unrest
The number of poor and vulnerable people will rise from 16.7 percent to 20 percent
UAE’s Operation $300bn eyes more M&As
The strategic merger between Arkan and Emirates Steel Industries highlights the focus of the UAE's new industrial initiative 'Operation $300bn.'The UAE government wants to raise the industrial sector’s contribution to the GDP from US$36.20bn to US$81.66bn by 2031
The strategy is aligned with national goals and international commitments relating to advancing sustainable economic growth, deploying clean energy solutions
Lebanon’s bank chief vows no forex raid to fund fuel unless law changed
Lebanon's central bank governor has vowed not to reverse his decision to stop subsidising fuel imports, unless parliament votes to...The country's Foreign exchange reserves have dwindled in recent months to now stand at $14 billion
Earlier this week, the central bank had said it would no longer subsidise fuel imports
